Travelers Companies (NYSE:TRV) Rating Increased to Overweight at Piper Sandler

Travelers Companies (NYSE:TRV) was upgraded by analysts at Piper Sandler from a “neutral” rating to an “overweight” rating in a research note issued to investors on Friday, Marketbeat reports. The firm currently has a $310.00 price target on the insurance provider’s stock, up from their prior price target of $259.00. Piper Sandler’s price objective would indicate a potential upside of 28.48% from the stock’s previous close.

Other research analysts also recently issued research reports about the stock. Wells Fargo & Company upped their price objective on shares of Travelers Companies from $213.00 to $225.00 and gave the stock an “underweight” rating in a report on Thursday. HSBC upgraded shares of Travelers Companies from a “hold” rating to a “buy” rating and set a $290.00 target price on the stock in a report on Tuesday, December 10th. UBS Group lifted their price target on Travelers Companies from $244.00 to $270.00 and gave the company a “neutral” rating in a research note on Tuesday, October 22nd. Royal Bank of Canada reissued a “sector perform” rating and issued a $268.00 price objective (down from $273.00) on shares of Travelers Companies in a research note on Thursday. Finally, StockNews.com cut Travelers Companies from a “buy” rating to a “hold” rating in a research report on Thursday. Four investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Travelers Companies presently has a consensus rating of “Hold” and a consensus price target of $260.11.

Travelers Companies Stock Performance

Shares of TRV opened at $241.29 on Friday. The stock has a 50-day moving average of $247.92 and a 200-day moving average of $237.06. Travelers Companies has a one year low of $200.21 and a one year high of $269.55. The company has a debt-to-equity ratio of 0.29, a current ratio of 0.33 and a quick ratio of 0.34. The company has a market cap of $54.78 billion, a PE ratio of 11.24, a P/E/G ratio of 1.09 and a beta of 0.65.

Travelers Companies (NYSE:TRV) last released its quarterly earnings data on Wednesday, January 22nd. The insurance provider reported $9.15 EPS for the quarter, beating 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 firm had revenue of $12.01 billion during the quarter, compared to the consensus estimate of $10,795,375 billion. During the same quarter in the previous year, the company posted $7.01 earnings per share. The company’s quarterly revenue was up 9.9% on a year-over-year basis. On average, equities research analysts predict that Travelers Companies will post 20.33 EPS for the current fiscal year.

Insider Activity

In other Travelers Companies news, Vice Chairman William H. Heyman sold 3,740 shares of the company’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $264.80, for a total transaction of $990,352.00. Following the sale, the insider now directly owns 250,384 shares of the company’s stock, valued at $66,301,683.20. This represents a 1.47 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Maria Olivo sold 10,410 shares of Travelers Companies stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $261.80, for a total transaction of $2,725,338.00. Following the completion of the transaction, the executive vice president now owns 111,162 shares of the company’s stock, valued at $29,102,211.60. The trade was a 8.56 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 18,670 shares of company stock valued at $4,861,329 in the last three months. Company insiders own 1.33% of the company’s stock.

Institutional Investors Weigh In On Travelers Companies

Several institutional investors have recently made changes to their positions in the stock. FMR LLC raised its stake in shares of Travelers Companies by 12.6% during the 3rd quarter. FMR LLC now owns 14,048,691 shares of the insurance provider’s stock valued at $3,289,079,000 after purchasing an additional 1,568,909 shares during the period. International Assets Investment Management LLC grew its holdings in Travelers Companies by 23,378.8% during the 3rd quarter. International Assets Investment Management LLC now owns 520,291 shares of the insurance provider’s stock valued at $121,811,000 after buying an additional 518,075 shares in the last quarter. Bank of Montreal Can increased its position in shares of Travelers Companies by 66.9% during the third quarter. Bank of Montreal Can now owns 705,793 shares of the insurance provider’s stock valued at $166,645,000 after buying an additional 282,884 shares during the period. Point72 Asset Management L.P. purchased a new stake in shares of Travelers Companies in the third quarter worth about $54,988,000. Finally, Janus Henderson Group PLC boosted its position in shares of Travelers Companies by 216.3% in the third quarter. Janus Henderson Group PLC now owns 339,901 shares of the insurance provider’s stock valued at $79,582,000 after acquiring an additional 232,428 shares during the period. Hedge funds and other institutional investors own 82.45% of the company’s stock.

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.