Travelers Companies (NYSE:TRV) Price Target Raised to $230.00

Travelers Companies (NYSE:TRV) had its price objective raised by Morgan Stanley from $222.00 to $230.00 in a research note issued to investors on Monday morning, Benzinga reports. They currently have an equal weight rating on the insurance provider’s stock.

Several other research analysts have also recently weighed in on TRV. Oppenheimer restated a market perform rating on shares of Travelers Companies in a report on Friday, April 5th. Evercore ISI upped their price objective on Travelers Companies from $230.00 to $253.00 and gave the company an outperform rating in a report on Thursday, April 11th. Raymond James upped their price objective on Travelers Companies from $220.00 to $245.00 and gave the company a strong-buy rating in a report on Monday, January 22nd. Royal Bank of Canada upped their price objective on Travelers Companies from $185.00 to $210.00 and gave the company a sector perform rating in a report on Monday, January 22nd. Finally, Keefe, Bruyette & Woods upped their price objective on Travelers Companies from $215.00 to $241.00 and gave the company a market perform rating in a report on Wednesday, April 10th. Two investment analysts have rated the stock with a sell rating, eleven have issued a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Travelers Companies currently has a consensus rating of Hold and a consensus price target of $217.00.

Travelers Companies Trading Down 7.4 %

Shares of Travelers Companies stock opened at $206.58 on Monday. The stock has a market cap of $47.33 billion, a P/E ratio of 16.15, a P/E/G ratio of 1.16 and a beta of 0.58. The stock’s 50 day simple moving average is $221.87 and its 200-day simple moving average is $196.17. Travelers Companies has a 1-year low of $157.33 and a 1-year 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 issued its earnings results on Wednesday, April 17th. The insurance provider reported $4.69 earnings per share for the quarter, missing the consensus estimate of $4.74 by ($0.05). The company had revenue of $11.23 billion for the quarter, compared to analyst estimates of $10.62 billion. Travelers Companies had a return on equity of 13.68% and a net margin of 7.23%. The company’s revenue for the quarter was up 15.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $4.11 earnings per share. Analysts predict that Travelers Companies will post 17.62 EPS for the current fiscal year.

Travelers Companies Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Monday, June 10th will be paid a dividend of $1.05 per share. This represents a $4.20 dividend on an annualized basis and a yield of 2.03%. This is a boost from Travelers Companies’s previous quarterly dividend of $1.00. Travelers Companies’s dividend payout ratio is 31.27%.

Insiders Place Their Bets

In other news, CFO Daniel S. Frey sold 38,000 shares of the company’s stock in a transaction on Tuesday, February 6th. The stock was sold at an average price of $212.55, for a total transaction of $8,076,900.00. Following the sale, the chief financial officer now owns 14,810 shares of the company’s stock, valued at $3,147,865.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CFO Daniel S. Frey sold 38,000 shares of the company’s stock in a transaction on Tuesday, February 6th. The stock was sold at an average price of $212.55, for a total transaction of $8,076,900.00. Following the sale, the chief financial officer now owns 14,810 shares of the company’s stock, valued at $3,147,865.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Vice Chairman William H. Heyman sold 4,500 shares of the company’s stock in a transaction on Friday, February 2nd. The stock was sold at an average price of $215.06, for a total value of $967,770.00. Following the sale, the insider now directly owns 255,178 shares in the company, valued at approximately $54,878,580.68. The disclosure for this sale can be found here. Insiders have sold 109,775 shares of company stock worth $23,343,903 over the last ninety days. Corporate insiders own 1.33% of the company’s stock.

Hedge Funds Weigh In On Travelers Companies

Several large investors have recently bought and sold shares of TRV. Price T Rowe Associates Inc. MD increased its holdings in Travelers Companies by 56.4% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 6,766,079 shares of the insurance provider’s stock valued at $1,288,871,000 after buying an additional 2,440,650 shares during the last quarter. Norges Bank purchased a new position in Travelers Companies in the fourth quarter valued at $282,593,000. Barclays PLC increased its holdings in Travelers Companies by 215.5% in the second quarter. Barclays PLC now owns 917,756 shares of the insurance provider’s stock valued at $159,378,000 after buying an additional 626,837 shares during the last quarter. Clearbridge Investments LLC increased its holdings in Travelers Companies by 15.8% in the third quarter. Clearbridge Investments LLC now owns 4,575,759 shares of the insurance provider’s stock valued at $747,267,000 after buying an additional 623,974 shares during the last quarter. Finally, Morgan Stanley increased its holdings in Travelers Companies by 19.6% in the fourth quarter. Morgan Stanley now owns 3,284,693 shares of the insurance provider’s stock valued at $615,847,000 after buying an additional 539,294 shares during the last quarter. 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.