HSBC Downgrades Travelers Companies (NYSE:TRV) to Hold

Travelers Companies (NYSE:TRV) was downgraded by analysts at HSBC from a “buy” rating to a “hold” rating in a research report issued on Monday, MarketBeat.com reports. They presently have a $270.00 price objective on the insurance provider’s stock. HSBC’s price objective suggests a potential upside of 4.21% from the company’s previous close.

Other analysts have also issued research reports about the stock. StockNews.com lowered shares of Travelers Companies from a “buy” rating to a “hold” rating in a research report on Thursday, January 23rd. Royal Bank of Canada reiterated a “sector perform” rating and issued a $268.00 target price (down from $273.00) on shares of Travelers Companies in a research report on Thursday, January 23rd. Piper Sandler upgraded Travelers Companies from a “neutral” rating to an “overweight” rating and increased their target price for the company from $259.00 to $310.00 in a research report on Friday, January 24th. Wells Fargo & Company raised their price objective on Travelers Companies from $213.00 to $225.00 and gave the stock an “underweight” rating in a research report on Thursday, January 23rd. Finally, BMO Capital Markets raised their price objective on Travelers Companies from $275.00 to $297.00 and gave the stock an “outperform” rating in a research report on Friday, January 24th. Four analysts have rated the stock with a sell rating, twelve have assigned a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Travelers Companies currently has a consensus rating of “Hold” and a consensus target price of $260.00.

Travelers Companies Stock Performance

NYSE:TRV traded up $2.39 during mid-day trading on Monday, hitting $259.09. The stock had a trading volume of 48,187 shares, compared to its average volume of 1,178,603. Travelers Companies has a twelve month low of $200.21 and a twelve month high of $269.56. The stock has a market cap of $58.74 billion, a price-to-earnings ratio of 12.06, a PEG ratio of 4.65 and a beta of 0.60. The company’s 50 day simple moving average is $248.29 and its 200 day simple moving average is $247.17. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.33 and a current ratio of 0.33.

Travelers Companies (NYSE:TRV) last released its quarterly earnings results on Wednesday, January 22nd. The insurance provider reported $9.15 earnings per share for the quarter, beating the consensus estimate of $6.50 by $2.65. Travelers Companies had a net margin of 10.77% and a return on equity of 19.06%. The firm had revenue of $12.01 billion for the quarter, compared to analysts’ expectations of $10.80 billion. During the same period in the prior year, the firm earned $7.01 EPS. The business’s revenue was up 9.9% on a year-over-year basis. On average, equities research analysts forecast that Travelers Companies will post 17.02 earnings per share for the current year.

Institutional Investors Weigh In On Travelers Companies

A number of hedge funds and other institutional investors have recently modified their holdings of TRV. Putney Financial Group LLC bought a new position in Travelers Companies during the 4th quarter valued at approximately $26,000. Ameriflex Group Inc. bought a new position in Travelers Companies during the 4th quarter valued at approximately $26,000. YANKCOM Partnership bought a new position in Travelers Companies during the 4th quarter valued at approximately $27,000. Kapitalo Investimentos Ltda bought a new position in Travelers Companies during the 4th quarter valued at approximately $30,000. Finally, Wood Tarver Financial Group LLC bought a new position in shares of Travelers Companies in the 4th quarter worth approximately $33,000. Institutional investors own 82.45% of the company’s stock.

Travelers Companies Company Profile

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.