Wells Fargo & Company Raises Travelers Companies (NYSE:TRV) Price Target to $256.00

Travelers Companies (NYSE:TRV) had its price objective lifted by equities research analysts at Wells Fargo & Company from $207.00 to $256.00 in a research report issued to clients and investors on Monday, Benzinga reports. The brokerage presently has an “equal weight” rating on the insurance provider’s stock. Wells Fargo & Company‘s price target indicates a potential downside of 2.37% from the stock’s current price.

A number of other equities research analysts have also recently issued reports on the stock. Barclays initiated coverage on shares of Travelers Companies in a report on Wednesday, September 4th. They issued an “overweight” rating and a $286.00 price objective for the company. TD Cowen cut shares of Travelers Companies from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $252.00 to $230.00 in a report on Monday, July 15th. Citigroup upped their price objective on shares of Travelers Companies from $200.00 to $203.00 and gave the stock a “sell” rating in a report on Tuesday, July 30th. The Goldman Sachs Group upped their price objective on shares of Travelers Companies from $196.00 to $216.00 and gave the stock a “sell” rating in a report on Wednesday, October 9th. Finally, Piper Sandler decreased their price target on shares of Travelers Companies from $213.00 to $207.00 and set a “neutral” rating for the company in a report on Monday, July 22nd. Four investment analysts have rated the stock with a sell rating, thirteen have given a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Travelers Companies currently has an average rating of “Hold” and an average target price of $238.00.

Travelers Companies Stock Down 1.2 %

Shares of TRV traded down $3.23 during midday trading on Monday, reaching $262.22. 242,203 shares of the stock were exchanged, compared to its average volume of 1,313,897. The company has a market cap of $59.77 billion, a price-to-earnings ratio of 13.45, a P/E/G ratio of 1.40 and a beta of 0.62. The company has a quick ratio of 0.33, a current ratio of 0.34 and a debt-to-equity ratio of 0.29. Travelers Companies has a 12-month low of $157.33 and a 12-month high of $269.55. The firm has a 50 day simple moving average of $231.88 and a 200-day simple moving average of $219.52.

Travelers Companies (NYSE:TRV) last announced its quarterly earnings results on Thursday, October 17th. The insurance provider reported $5.24 EPS for the quarter, topping the consensus estimate of $3.79 by $1.45. Travelers Companies had a net margin of 10.02% and a return on equity of 17.69%. The company had revenue of $11.90 billion for the quarter, compared to analyst estimates of $11.46 billion. During the same quarter in the prior year, the business posted $1.95 EPS. Travelers Companies’s quarterly revenue was up 11.9% on a year-over-year basis. Research analysts forecast that Travelers Companies will post 17.45 EPS for the current year.

Insider Activity

In related news, EVP Michael Frederick Klein sold 10,000 shares of the stock in a transaction dated Thursday, July 25th. The shares were sold at an average price of $211.44, for a total value of $2,114,400.00. Following the completion of the transaction, the executive vice president now owns 22,798 shares of the company’s stock, valued at $4,820,409.12. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.33% of the stock is owned by company insiders.

Institutional Investors Weigh In On Travelers Companies

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. JPMorgan Chase & Co. raised its holdings in shares of Travelers Companies by 36.8% during the first quarter. JPMorgan Chase & Co. now owns 11,743,236 shares of the insurance provider’s stock worth $2,702,588,000 after acquiring an additional 3,158,979 shares during the period. Dimensional Fund Advisors LP raised its holdings in shares of 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 acquiring an additional 165,708 shares during the period. Legal & General Group Plc raised its holdings in shares of Travelers Companies by 1.6% during the second quarter. Legal & General Group Plc now owns 2,334,882 shares of the insurance provider’s stock worth $474,774,000 after acquiring an additional 37,029 shares during the period. Boston Partners raised its holdings in shares of Travelers Companies by 16.4% during the first quarter. Boston Partners now owns 1,388,019 shares of the insurance provider’s stock worth $319,348,000 after acquiring an additional 196,011 shares during the period. Finally, AQR Capital Management LLC lifted its position in Travelers Companies by 8.0% during the 2nd quarter. AQR Capital Management LLC now owns 1,150,213 shares of the insurance provider’s stock worth $233,769,000 after buying an additional 85,619 shares in the last quarter. 82.45% of the stock is currently owned by institutional investors and hedge funds.

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.