Piper Sandler Upgrades Travelers Companies (NYSE:TRV) to “Overweight”

Travelers Companies (NYSE:TRV) was upgraded by equities researchers at Piper Sandler from a “neutral” rating to an “overweight” rating in a research report issued to clients and investors on Friday, MarketBeat Ratings reports. The firm currently has a $310.00 price objective on the insurance provider’s stock, up from their previous price objective of $259.00. Piper Sandler’s price objective suggests a potential upside of 28.23% from the company’s previous close.

A number of other brokerages also recently issued reports on TRV. HSBC upgraded Travelers Companies from a “hold” rating to a “buy” rating and set a $290.00 price objective for the company in a research report on Tuesday, December 10th. Barclays decreased their price objective on shares of Travelers Companies from $295.00 to $278.00 and set an “overweight” rating for the company in a research note on Monday, January 6th. Jefferies Financial Group raised their price target on shares of Travelers Companies from $210.00 to $235.00 and gave the stock a “hold” rating in a research note on Wednesday, October 9th. Janney Montgomery Scott cut Travelers Companies from a “buy” rating to a “neutral” rating and set a $280.00 price target on the stock. in a research report on Thursday, November 21st. Finally, StockNews.com downgraded Travelers Companies from a “buy” rating to a “hold” rating in a research report on Thursday. 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 one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Travelers Companies currently has an average rating of “Hold” and a consensus target price of $258.21.

Travelers Companies Trading Down 2.0 %

TRV stock opened at $241.75 on Friday. Travelers Companies has a twelve month low of $200.21 and a twelve month high of $269.55. The company has a market cap of $54.88 billion, a P/E ratio of 11.26, a PEG ratio of 1.09 and a beta of 0.65. The company has a quick ratio of 0.34, a current ratio of 0.33 and a debt-to-equity ratio of 0.29. The business has a fifty day moving average of $248.61 and a 200-day moving average of $236.77.

Travelers Companies (NYSE:TRV) last posted its quarterly earnings data on Wednesday, January 22nd. The insurance provider reported $9.15 earnings per share for the quarter, topping the consensus estimate of $6.50 by $2.65. Travelers Companies had a return on equity of 19.06% and a net margin of 10.77%. The company had revenue of $12.01 billion during the quarter, compared to analysts’ expectations of $10,795,375 billion. During the same period in the prior year, the firm earned $7.01 earnings per share. Travelers Companies’s revenue for the quarter was up 9.9% compared to the same quarter last year. As a group, equities research analysts expect that Travelers Companies will post 20.33 EPS for the current year.

Insider Buying and Selling

In related news, EVP Andy F. Bessette sold 4,520 shares of the firm’s stock in a transaction that occurred on Monday, October 28th. The stock was sold at an average price of $253.46, for a total transaction of $1,145,639.20. Following the transaction, the executive vice president now owns 16,976 shares in the company, valued at $4,302,736.96. This trade represents a 21.03 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Maria Olivo sold 10,410 shares of the company’s stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $261.80, for a total transaction of $2,725,338.00. Following the completion of the sale, the executive vice president now directly owns 111,162 shares in the company, valued at $29,102,211.60. This trade represents a 8.56 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 18,670 shares of company stock valued at $4,861,329 over the last 90 days. Insiders own 1.33% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of TRV. Ledyard National Bank increased its position in shares of Travelers Companies by 1.9% during the third quarter. Ledyard National Bank now owns 2,067 shares of the insurance provider’s stock valued at $484,000 after purchasing an additional 39 shares during the period. Trueblood Wealth Management LLC lifted its holdings in Travelers Companies by 2.3% during the third quarter. Trueblood Wealth Management LLC now owns 1,807 shares of the insurance provider’s stock worth $423,000 after acquiring an additional 41 shares in the last quarter. Cornell Pochily Investment Advisors Inc. increased its holdings in Travelers Companies by 2.9% during the 3rd quarter. Cornell Pochily Investment Advisors Inc. now owns 1,499 shares of the insurance provider’s stock worth $351,000 after purchasing an additional 42 shares in the last quarter. Salem Investment Counselors Inc. increased its stake in Travelers Companies by 5.1% in the 4th quarter. Salem Investment Counselors Inc. now owns 905 shares of the insurance provider’s stock valued at $218,000 after buying an additional 44 shares during the last quarter. Finally, Willner & Heller LLC grew its position in shares of Travelers Companies by 4.1% in the 3rd quarter. Willner & Heller LLC now owns 1,146 shares of the insurance provider’s stock valued at $268,000 after acquiring an additional 45 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.