Travelers Companies (NYSE:TRV) Raised to “Buy” at The Goldman Sachs Group

Travelers Companies (NYSE:TRV) was upgraded by equities research analysts at The Goldman Sachs Group from a “sell” rating to a “buy” rating in a report issued on Wednesday,Benzinga reports. The firm presently has a $278.00 price objective on the insurance provider’s stock. The Goldman Sachs Group’s price objective suggests a potential upside of 15.19% from the company’s previous close.

TRV has been the subject of a number of other reports. Bank of America lifted their price objective on shares of Travelers Companies from $241.00 to $265.00 and gave the company an “underperform” rating in a report on Thursday, October 17th. Keefe, Bruyette & Woods lifted their price target on Travelers Companies from $245.00 to $273.00 and gave the company a “market perform” rating in a research note on Tuesday, October 22nd. Royal Bank of Canada increased their price objective on Travelers Companies from $250.00 to $273.00 and gave the stock a “sector perform” rating in a research note on Friday, October 18th. Piper Sandler cut their target price on Travelers Companies from $280.00 to $259.00 and set a “neutral” rating on the stock in a research report on Monday. Finally, Hsbc Global Res raised Travelers Companies from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, December 10th. Four equities 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 issued a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $255.10.

Travelers Companies Stock Performance

Shares of TRV opened at $241.33 on Wednesday. The stock has a 50-day moving average of $251.20 and a 200-day moving average of $234.32. Travelers Companies has a one year low of $189.87 and a one year high of $269.55. The company has a debt-to-equity ratio of 0.29, a current ratio of 0.34 and a quick ratio of 0.34. The company has a market cap of $54.79 billion, a PE ratio of 12.38, a P/E/G ratio of 1.17 and a beta of 0.65.

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

Insider Activity at Travelers Companies

In other Travelers Companies news, CEO Alan D. Schnitzer sold 40,524 shares of the stock in a transaction on 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 sale, the chief executive officer now owns 221,924 shares in the company, valued at $57,726,870.88. This represents a 15.44 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Vice Chairman William H. Heyman sold 3,740 shares of Travelers Companies stock in a transaction on Monday, November 25th. The shares were sold at an average price of $264.80, for a total value of $990,352.00. Following the completion of the transaction, the insider now owns 250,384 shares of the company’s stock, valued at approximately $66,301,683.20. This trade represents a 1.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 78,149 shares of company stock worth $20,295,856. 1.33% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Travelers Companies

A number of large investors have recently modified their holdings of TRV. State Street Corp lifted its stake in Travelers Companies by 0.8% in the 3rd quarter. State Street Corp now owns 15,566,941 shares of the insurance provider’s stock worth $3,644,532,000 after purchasing an additional 120,228 shares in the last quarter. FMR LLC raised its position in shares of Travelers Companies by 12.6% in the third quarter. FMR LLC now owns 14,048,691 shares of the insurance provider’s stock worth $3,289,079,000 after buying an additional 1,568,909 shares in the last quarter. Geode Capital Management LLC boosted its stake in Travelers Companies by 2.3% during the third quarter. Geode Capital Management LLC now owns 5,076,220 shares of the insurance provider’s stock valued at $1,187,865,000 after buying an additional 114,714 shares during the period. Dimensional Fund Advisors LP grew its position in Travelers Companies by 5.8% during the second quarter. Dimensional Fund Advisors LP now owns 3,044,839 shares of the insurance provider’s stock worth $619,241,000 after buying an additional 165,708 shares in the last quarter. Finally, Legal & General Group Plc raised its holdings in shares of Travelers Companies by 1.6% in the 2nd quarter. Legal & General Group Plc now owns 2,334,882 shares of the insurance provider’s stock valued at $474,774,000 after acquiring an additional 37,029 shares in the last quarter. 82.45% of the stock is currently 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.