Keefe, Bruyette & Woods Cuts Travelers Companies (NYSE:TRV) Price Target to $268.00

Travelers Companies (NYSE:TRV) had its target price reduced by Keefe, Bruyette & Woods from $273.00 to $268.00 in a report published on Friday morning,Benzinga reports. They currently have a market perform rating on the insurance provider’s stock.

Several other research firms also recently commented on TRV. Bank of America boosted their target price on shares of Travelers Companies from $241.00 to $265.00 and gave the stock an “underperform” rating in a research report on Thursday, October 17th. Wells Fargo & Company reissued an “underweight” rating and set a $217.00 target price (down from $256.00) on shares of Travelers Companies in a research report on Wednesday, December 11th. HSBC raised shares of Travelers Companies from a “hold” rating to a “buy” rating and set a $290.00 target price for the company in a research report on Tuesday, December 10th. UBS Group upped their price objective on shares of Travelers Companies from $244.00 to $270.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 22nd. Finally, Piper Sandler reduced their price objective on shares of Travelers Companies from $280.00 to $259.00 and set a “neutral” rating for the company in a research report on Monday, January 6th. Four research analysts have rated the stock with a sell rating, twelve have given a hold rating, seven have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $254.85.

Travelers Companies Trading Down 4.2 %

TRV opened at $232.53 on Friday. Travelers Companies has a 1-year low of $191.88 and a 1-year high of $269.55. The company has a current ratio of 0.34, a quick ratio of 0.34 and a debt-to-equity ratio of 0.29. The company has a market cap of $52.79 billion, a P/E ratio of 11.92, a price-to-earnings-growth ratio of 1.17 and a beta of 0.65. The company has a fifty day moving average price of $250.73 and a two-hundred day moving average price of $234.97.

Travelers Companies (NYSE:TRV) last posted its quarterly earnings results on Thursday, October 17th. The insurance provider reported $5.24 earnings per share for the quarter, beating the consensus estimate of $3.79 by $1.45. Travelers Companies had a net margin of 10.02% and a return on equity of 17.69%. The firm had revenue of $11.90 billion during the quarter, compared to the consensus estimate of $11.46 billion. During the same period in the previous year, the firm posted $1.95 earnings per share. The business’s revenue was up 11.9% compared to the same quarter last year. Analysts predict that Travelers Companies will post 18.84 EPS for the current fiscal year.

Travelers Companies Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Tuesday, December 10th were given a dividend of $1.05 per share. The ex-dividend date of this dividend was Tuesday, December 10th. This represents a $4.20 annualized dividend and a yield of 1.81%. Travelers Companies’s payout ratio is currently 21.54%.

Insider Buying and Selling at Travelers Companies

In other news, EVP Michael Frederick Klein sold 10,000 shares of the firm’s stock in a transaction dated Wednesday, October 23rd. The shares were sold at an average price of $256.17, for a total value of $2,561,700.00. Following the completion of the sale, the executive vice president now directly owns 22,798 shares of the company’s stock, valued at approximately $5,840,163.66. This trade represents a 30.49 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Alan D. Schnitzer sold 40,524 shares of the firm’s stock in a transaction dated Monday, October 21st. The stock was sold at an average price of $260.12, for a total transaction of $10,541,102.88. Following the completion of the sale, the chief executive officer now directly owns 221,924 shares of the company’s stock, valued at approximately $57,726,870.88. This represents a 15.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 78,149 shares of company stock valued at $20,295,856 in the last quarter. Company insiders own 1.33% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. Ledyard National Bank increased its stake in Travelers Companies by 1.9% during the 3rd quarter. Ledyard National Bank now owns 2,067 shares of the insurance provider’s stock valued at $484,000 after purchasing an additional 39 shares in the last quarter. Trueblood Wealth Management LLC increased its stake in Travelers Companies by 2.3% during the 3rd quarter. Trueblood Wealth Management LLC now owns 1,807 shares of the insurance provider’s stock valued at $423,000 after purchasing an additional 41 shares in the last quarter. Cornell Pochily Investment Advisors Inc. increased its stake in Travelers Companies by 2.9% during the 3rd quarter. Cornell Pochily Investment Advisors Inc. now owns 1,499 shares of the insurance provider’s stock valued at $351,000 after purchasing an additional 42 shares in the last quarter. Willner & Heller LLC increased its stake in Travelers Companies by 4.1% during the 3rd quarter. Willner & Heller LLC now owns 1,146 shares of the insurance provider’s stock valued at $268,000 after purchasing an additional 45 shares in the last quarter. Finally, Wolff Wiese Magana LLC increased its stake in Travelers Companies by 39.1% during the 3rd quarter. Wolff Wiese Magana LLC now owns 160 shares of the insurance provider’s stock valued at $37,000 after purchasing an additional 45 shares in the last quarter. 82.45% of the stock is owned by hedge funds and other institutional investors.

About Travelers Companies

The Travelers Companies, Inc, through its subsidiaries, provides a range of commercial and personal property, and casualty insurance products and services to businesses, government units, associations, and individuals in the United States and internationally. The company operates through three segments: Business Insurance, Bond & Specialty Insurance, and Personal Insurance.