Travelers Companies (NYSE:TRV) Price Target Raised to $340.00 at Keefe, Bruyette & Woods

Travelers Companies (NYSE:TRV) had its price target upped by Keefe, Bruyette & Woods from $320.00 to $340.00 in a report published on Thursday,Benzinga reports. The brokerage currently has an outperform rating on the insurance provider’s stock.

Several other analysts also recently weighed in on TRV. Argus raised shares of Travelers Companies to a “strong-buy” rating in a research note on Monday, January 26th. JPMorgan Chase & Co. lifted their target price on Travelers Companies from $302.00 to $305.00 and gave the company an “underweight” rating in a research report on Wednesday, January 7th. Cantor Fitzgerald upped their target price on Travelers Companies from $316.00 to $319.00 and gave the stock an “overweight” rating in a report on Monday, February 2nd. Citigroup reissued a “neutral” rating on shares of Travelers Companies in a research report on Tuesday, January 27th. Finally, Mizuho decreased their price objective on Travelers Companies from $315.00 to $304.00 and set a “neutral” rating for the company in a report on Thursday, January 22nd. Two analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating, ten have issued a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $304.33.

Travelers Companies Stock Performance

Shares of Travelers Companies stock opened at $299.88 on Thursday. Travelers Companies has a 52 week low of $230.43 and a 52 week high of $304.40. The company has a market capitalization of $64.85 billion, a PE ratio of 10.89, a price-to-earnings-growth ratio of 2.78 and a beta of 0.51. The stock’s fifty day moving average is $287.35 and its two-hundred day moving average is $280.09. The company has a quick ratio of 0.33, a current ratio of 0.33 and a debt-to-equity ratio of 0.28.

Travelers Companies (NYSE:TRV) last issued its earnings results on Wednesday, January 21st. The insurance provider reported $11.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $8.34 by $2.79. The firm had revenue of $12.43 billion during the quarter, compared to analyst estimates of $11.13 billion. Travelers Companies had a net margin of 12.88% and a return on equity of 20.70%. The business’s revenue was up 3.5% on a year-over-year basis. During the same period in the previous year, the firm earned $9.15 earnings per share. As a group, analysts expect that Travelers Companies will post 17.02 earnings per share for the current year.

Travelers Companies declared that its Board of Directors has initiated a share repurchase program on Wednesday, January 21st that allows the company to buyback $5.00 billion in outstanding shares. This buyback authorization allows the insurance provider to repurchase up to 8.3% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s management believes its stock is undervalued.

Travelers Companies Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Tuesday, March 10th will be issued a $1.10 dividend. This represents a $4.40 annualized dividend and a yield of 1.5%. The ex-dividend date of this dividend is Tuesday, March 10th. Travelers Companies’s payout ratio is currently 15.98%.

Insiders Place Their Bets

In other Travelers Companies news, CEO Alan D. Schnitzer sold 55,733 shares of the stock in a transaction dated Wednesday, February 4th. The stock was sold at an average price of $294.70, for a total value of $16,424,515.10. Following the completion of the sale, the chief executive officer directly owned 260,329 shares in the company, valued at approximately $76,718,956.30. This trade represents a 17.63% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Michael Frederick Klein sold 10,000 shares of the firm’s stock in a transaction dated Friday, February 6th. The stock was sold at an average price of $301.18, for a total value of $3,011,800.00. Following the completion of the sale, the executive vice president directly owned 33,638 shares of the company’s stock, valued at approximately $10,131,092.84. This represents a 22.92% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 101,765 shares of company stock worth $29,877,543. 1.46% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Travelers Companies

Hedge funds and other institutional investors have recently modified their holdings of the stock. Compound Planning Inc. grew its position in Travelers Companies by 6.8% during the 4th quarter. Compound Planning Inc. now owns 4,297 shares of the insurance provider’s stock worth $1,246,000 after purchasing an additional 273 shares during the last quarter. TMB Capital Partners LLC acquired a new position in shares of Travelers Companies in the 4th quarter valued at $314,000. Briggs Wealth Management Inc purchased a new position in Travelers Companies in the 4th quarter worth $234,000. Invesco Ltd. lifted its position in Travelers Companies by 15.1% during the 4th quarter. Invesco Ltd. now owns 1,807,164 shares of the insurance provider’s stock worth $524,186,000 after acquiring an additional 237,494 shares during the period. Finally, CrossGen Wealth LLC purchased a new stake in Travelers Companies during the 4th quarter valued at about $290,000. 82.45% of the stock is owned by hedge funds and other institutional investors.

About Travelers Companies

The Travelers Companies, Inc (NYSE: TRV) is a leading provider of property and casualty insurance products and services. The company underwrites a broad range of commercial and personal insurance lines, offering coverage designed to protect individuals, small and midsize businesses, and large corporate clients against property loss, liability, and other operational risks. Travelers is known for combining underwriting, claims management and risk control services to help clients prevent losses and recover when incidents occur.

On the commercial side, Travelers writes primary and specialty coverages including property, general liability, commercial auto, workers’ compensation, professional and management liability, surety and inland marine.