HSBC Downgrades Travelers Companies (NYSE:TRV) to Hold

Travelers Companies (NYSE:TRV) was downgraded by research analysts at HSBC from a “buy” rating to a “hold” rating in a research note issued to investors on Monday, MarketBeat Ratings reports. They presently have a $270.00 price target on the insurance provider’s stock. HSBC’s target price would indicate a potential upside of 4.05% from the stock’s previous close.

Several other research firms have also recently weighed in on TRV. Royal Bank of Canada reiterated a “sector perform” rating and issued a $268.00 price target (down previously from $273.00) on shares of Travelers Companies in a report on Thursday, January 23rd. Hsbc Global Res raised shares of Travelers Companies from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, December 10th. Keefe, Bruyette & Woods upgraded Travelers Companies from a “market perform” rating to an “outperform” rating and increased their target price for the stock from $275.00 to $286.00 in a report on Wednesday, February 19th. Piper Sandler upgraded Travelers Companies from a “neutral” rating to an “overweight” rating and boosted their price target for the company from $259.00 to $310.00 in a report on Friday, January 24th. Finally, BMO Capital Markets increased their price objective on Travelers Companies from $275.00 to $297.00 and gave the stock an “outperform” rating in a report on Friday, January 24th. Four research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Travelers Companies has an average rating of “Hold” and a consensus price target of $260.00.

Travelers Companies Price Performance

TRV opened at $259.50 on Monday. The company has a fifty day simple moving average of $249.27 and a 200 day simple moving average of $247.54. The company has a quick ratio of 0.33, a current ratio of 0.33 and a debt-to-equity ratio of 0.29. The stock has a market cap of $58.84 billion, a P/E ratio of 12.09, a P/E/G ratio of 4.65 and a beta of 0.60. Travelers Companies has a 12 month low of $200.21 and a 12 month high of $269.56.

Travelers Companies (NYSE:TRV) last announced its quarterly earnings results on Wednesday, January 22nd. The insurance provider reported $9.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.50 by $2.65. Travelers Companies had a return on equity of 19.06% and a net margin of 10.77%. The company had revenue of $12.01 billion during the quarter, compared to the consensus estimate of $10.80 billion. During the same period in the prior year, the company earned $7.01 earnings per share. The company’s revenue for the quarter was up 9.9% compared to the same quarter last year. On average, research analysts expect that Travelers Companies will post 17.02 EPS for the current year.

Institutional Investors Weigh In On Travelers Companies

Several hedge funds have recently added to or reduced their stakes in the business. Putney Financial Group LLC acquired a new stake in shares of Travelers Companies during the 4th quarter worth about $26,000. Ameriflex Group Inc. bought a new position in Travelers Companies in the 4th quarter valued at about $26,000. YANKCOM Partnership acquired a new stake in Travelers Companies during the fourth quarter worth approximately $27,000. Kapitalo Investimentos Ltda bought a new stake in shares of Travelers Companies during the fourth quarter worth approximately $30,000. Finally, Wood Tarver Financial Group LLC acquired a new position in shares of Travelers Companies in the fourth quarter valued at approximately $33,000. Institutional investors and hedge funds own 82.45% of the company’s stock.

Travelers Companies Company Profile

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.