Travelers Companies (NYSE:TRV) Price Target Cut to $219.00

Travelers Companies (NYSE:TRV) had its price target trimmed by Jefferies Financial Group from $222.00 to $219.00 in a research note published on Friday morning, Benzinga reports. The brokerage currently has a hold rating on the insurance provider’s stock.

TRV has been the topic of several other reports. Piper Sandler reissued a neutral rating and set a $213.00 target price on shares of Travelers Companies in a research note on Monday, April 1st. Royal Bank of Canada cut their target price on shares of Travelers Companies from $230.00 to $225.00 and set a sector perform rating on the stock in a research note on Thursday, April 18th. Roth Mkm reissued a buy rating and set a $240.00 target price on shares of Travelers Companies in a research note on Thursday, April 18th. HSBC raised their price objective on shares of Travelers Companies from $218.00 to $240.00 and gave the company a hold rating in a research note on Thursday, April 4th. Finally, Oppenheimer reaffirmed a market perform rating on shares of Travelers Companies in a research note on Friday, April 5th. Two analysts have rated the stock with a sell rating, thirteen have given a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of Hold and a consensus target price of $223.18.

Travelers Companies Stock Up 0.1 %

Shares of NYSE TRV opened at $214.27 on Friday. The firm has a market cap of $49.07 billion, a PE ratio of 15.92, a P/E/G ratio of 1.12 and a beta of 0.58. Travelers Companies has a 12-month low of $157.33 and a 12-month high of $232.75. The company’s fifty day simple moving average is $221.78 and its 200 day simple moving average is $197.48. The company has a quick ratio of 0.34, a current ratio of 0.34 and a debt-to-equity ratio of 0.32.

Travelers Companies (NYSE:TRV) last issued its earnings results on Wednesday, April 17th. The insurance provider reported $4.69 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.75 by ($0.06). The company had revenue of $11.23 billion for the quarter, compared to the consensus estimate of $10.62 billion. Travelers Companies had a return on equity of 13.94% and a net margin of 7.32%. The firm’s revenue was up 15.7% compared to the same quarter last year. During the same period in the prior year, the company earned $4.11 earnings per share. As a group, sell-side analysts forecast that Travelers Companies will post 17.66 earnings per share for the current fiscal year.

Travelers Companies Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Monday, June 10th will be issued a $1.05 dividend. The ex-dividend date is Friday, June 7th. This represents a $4.20 annualized dividend and a dividend yield of 1.96%. This is an increase from Travelers Companies’s previous quarterly dividend of $1.00. Travelers Companies’s dividend payout ratio is currently 29.72%.

Insider Activity

In other news, EVP Diane Kurtzman sold 3,000 shares of the stock in a transaction dated Thursday, January 25th. The shares were sold at an average price of $211.02, for a total value of $633,060.00. Following the completion of the sale, the executive vice president now owns 2,215 shares in the company, valued at $467,409.30. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, EVP Maria Olivo sold 10,553 shares of the stock in a transaction dated Tuesday, January 30th. The shares were sold at an average price of $212.93, for a total value of $2,247,050.29. Following the completion of the sale, the executive vice president now owns 103,443 shares in the company, valued at $22,026,117.99. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Diane Kurtzman sold 3,000 shares of the firm’s stock in a transaction dated Thursday, January 25th. The stock was sold at an average price of $211.02, for a total transaction of $633,060.00. Following the sale, the executive vice president now owns 2,215 shares of the company’s stock, valued at approximately $467,409.30. The disclosure for this sale can be found here. Insiders sold a total of 68,734 shares of company stock worth $14,637,364 over the last quarter. Insiders own 1.33% of the company’s stock.

Institutional Trading of Travelers Companies

A number of large investors have recently added to or reduced their stakes in TRV. Norges Bank bought a new position in Travelers Companies during the fourth quarter worth about $282,593,000. Clearbridge Investments LLC boosted its position in Travelers Companies by 15.8% during the third quarter. Clearbridge Investments LLC now owns 4,575,759 shares of the insurance provider’s stock worth $747,267,000 after purchasing an additional 623,974 shares during the period. Jacobs Levy Equity Management Inc. boosted its position in Travelers Companies by 1,826.3% during the third quarter. Jacobs Levy Equity Management Inc. now owns 512,714 shares of the insurance provider’s stock worth $83,731,000 after purchasing an additional 486,098 shares during the period. International Assets Investment Management LLC boosted its position in Travelers Companies by 19,918.1% during the fourth 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 period. Finally, Boston Partners boosted its position in Travelers Companies by 42.5% during the fourth quarter. Boston Partners now owns 1,192,008 shares of the insurance provider’s stock worth $227,175,000 after purchasing an additional 355,489 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.