Travelers Companies (NYSE:TRV) Price Target Cut to $220.00

Travelers Companies (NYSE:TRV) had its target price dropped by Morgan Stanley from $223.00 to $220.00 in a report issued on Wednesday, Benzinga reports. The brokerage currently has an “equal weight” rating on the insurance provider’s stock. Morgan Stanley’s price target would suggest a potential upside of 6.94% from the stock’s previous close.

Other research analysts have also recently issued reports about the company. TD Cowen decreased their target price on Travelers Companies from $261.00 to $252.00 and set a “buy” rating for the company in a research note on Tuesday, April 23rd. HSBC boosted their target price on Travelers Companies from $218.00 to $240.00 and gave the company a “hold” rating in a research note on Thursday, April 4th. Keefe, Bruyette & Woods cut their price target on Travelers Companies from $241.00 to $231.00 and set a “market perform” rating on the stock in a report on Thursday, April 18th. Citigroup restated a “sell” rating and issued a $200.00 price target (down from $226.00) on shares of Travelers Companies in a report on Friday, June 28th. Finally, JMP Securities reiterated a “market perform” rating on shares of Travelers Companies in a report on Friday, April 19th. Three equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $221.35.

Travelers Companies Trading Up 1.3 %

Shares of NYSE TRV traded up $2.58 during midday trading on Wednesday, hitting $205.72. The stock had a trading volume of 332,639 shares, compared to its average volume of 1,367,311. The company’s 50-day simple moving average is $211.05 and its 200 day simple moving average is $212.64. The firm has a market cap of $47.11 billion, a P/E ratio of 15.28, a price-to-earnings-growth ratio of 1.09 and a beta of 0.61. Travelers Companies has a fifty-two week low of $157.33 and a fifty-two week high of $232.75. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.34 and a quick ratio of 0.34.

Travelers Companies (NYSE:TRV) last announced its quarterly earnings data on Wednesday, April 17th. The insurance provider reported $4.69 EPS for the quarter, missing analysts’ consensus estimates of $4.75 by ($0.06). Travelers Companies had a return on equity of 13.94% and a net margin of 7.32%. The company had revenue of $11.23 billion for the quarter, compared to analyst estimates of $10.62 billion. During the same period last year, the firm earned $4.11 earnings per share. The firm’s revenue for the quarter was up 15.7% on a year-over-year basis. Research analysts anticipate that Travelers Companies will post 17.44 EPS for the current year.

Insider Buying and Selling

In related news, CFO Daniel S. Frey sold 5,000 shares of the stock in a transaction that occurred on Thursday, April 25th. The stock was sold at an average price of $212.90, for a total transaction of $1,064,500.00. Following the sale, the chief financial officer now owns 18,515 shares of the company’s stock, valued at $3,941,843.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, EVP Jeffrey P. Klenk sold 3,635 shares of the stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $213.68, for a total value of $776,726.80. Following the completion of the transaction, the executive vice president now directly owns 6,075 shares in the company, valued at approximately $1,298,106. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Daniel S. Frey sold 5,000 shares of the firm’s stock in a transaction on Thursday, April 25th. The stock was sold at an average price of $212.90, for a total value of $1,064,500.00. Following the transaction, the chief financial officer now directly owns 18,515 shares of the company’s stock, valued at $3,941,843.50. The disclosure for this sale can be found here. Insiders have sold 18,635 shares of company stock valued at $3,980,827 over the last 90 days. 1.33% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of TRV. JPMorgan Chase & Co. raised its position in Travelers Companies by 36.8% during the 1st quarter. JPMorgan Chase & Co. now owns 11,743,236 shares of the insurance provider’s stock worth $2,702,588,000 after purchasing an additional 3,158,979 shares during the last quarter. Norges Bank bought a new position in Travelers Companies during the 4th quarter worth $282,593,000. International Assets Investment Management LLC raised its position in Travelers Companies by 19,918.1% during the 4th quarter. International Assets Investment Management LLC now owns 475,830 shares of the insurance provider’s stock worth $90,641,000 after purchasing an additional 473,453 shares during the last quarter. Zurich Insurance Group Ltd FI bought a new position in Travelers Companies during the 1st quarter worth $88,190,000. Finally, Boston Partners grew its holdings in Travelers Companies by 42.5% during the 4th quarter. Boston Partners now owns 1,192,008 shares of the insurance provider’s stock worth $227,175,000 after acquiring an additional 355,489 shares during the period. 82.45% of the stock is owned by 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.