Travelers Companies (NYSE:TRV) was upgraded by investment analysts at Bank of America from a “neutral” rating to a “buy” rating in a note issued to investors on Tuesday, January 9th, Marketbeat.com reports.
Several other analysts have also weighed in on TRV. Goldman Sachs Group initiated coverage on shares of Travelers Companies in a research note on Monday, December 4th. They issued a “sell” rating and a $124.00 price objective for the company. Keefe, Bruyette & Woods reaffirmed a “buy” rating and set a $152.00 price objective on shares of Travelers Companies in a report on Wednesday, December 6th. Royal Bank of Canada reaffirmed a “buy” rating and set a $148.00 price objective on shares of Travelers Companies in a report on Friday, December 8th. B. Riley reaffirmed a “neutral” rating on shares of Travelers Companies in a report on Monday, November 6th. Finally, Argus lifted their target price on Travelers Companies from $139.00 to $145.00 and gave the stock a “positive” rating in a research note on Monday, October 23rd. They noted that the move was a valuation call. Three research analysts have rated the stock with a sell rating, nine have given a hold rating and eight have issued a buy rating to the company’s stock. Travelers Companies has an average rating of “Hold” and an average price target of $135.07.
Shares of Travelers Companies (TRV) traded down $0.38 during trading on Tuesday, reaching $149.62. 96,729 shares of the company’s stock were exchanged, compared to its average volume of 1,909,841. Travelers Companies has a 12-month low of $113.76 and a 12-month high of $150.48. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.39 and a quick ratio of 0.41. The firm has a market capitalization of $40,688.29 and a P/E ratio of 20.62.
Travelers Companies (NYSE:TRV) last posted its quarterly earnings results on Tuesday, January 23rd. The insurance provider reported $2.28 earnings per share for the quarter, missing analysts’ consensus estimates of $2.56 by ($0.28). The company had revenue of $7.45 billion during the quarter, compared to analyst estimates of $6.47 billion. Travelers Companies had a net margin of 7.13% and a return on equity of 8.61%. The company’s revenue for the quarter was up 3.6% on a year-over-year basis. During the same quarter in the previous year, the business posted $3.20 earnings per share. research analysts forecast that Travelers Companies will post 10.59 earnings per share for the current year.
Travelers Companies announced that its Board of Directors has authorized a stock buyback plan on Thursday, November 9th that authorizes the company to buyback outstanding shares. This buyback authorization authorizes the insurance provider to purchase shares of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s leadership believes its stock is undervalued.
In other news, EVP Andy F. Bessette sold 2,000 shares of the business’s stock in a transaction dated Tuesday, November 14th. The stock was sold at an average price of $132.98, for a total transaction of $265,960.00. Following the completion of the transaction, the executive vice president now owns 8,000 shares of the company’s stock, valued at $1,063,840. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Thomas M. Kunkel sold 9,595 shares of the business’s stock in a transaction dated Friday, January 26th. The stock was sold at an average price of $150.09, for a total value of $1,440,113.55. Following the transaction, the executive vice president now directly owns 28,956 shares of the company’s stock, valued at approximately $4,346,006.04. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 182,479 shares of company stock worth $26,320,531. Company insiders own 0.82% of the company’s stock.
A number of institutional investors and hedge funds have recently modified their holdings of TRV. Field & Main Bank purchased a new stake in shares of Travelers Companies during the fourth quarter valued at approximately $102,000. Fieldpoint Private Securities LLC bought a new position in shares of Travelers Companies during the third quarter valued at approximately $106,000. Valeo Financial Advisors LLC bought a new position in shares of Travelers Companies during the third quarter valued at approximately $108,000. Intellectus Partners LLC raised its holdings in shares of Travelers Companies by 4.6% during the second quarter. Intellectus Partners LLC now owns 933 shares of the insurance provider’s stock valued at $118,000 after acquiring an additional 41 shares in the last quarter. Finally, Thompson Siegel & Walmsley LLC raised its holdings in shares of Travelers Companies by 3.6% during the second quarter. Thompson Siegel & Walmsley LLC now owns 995 shares of the insurance provider’s stock valued at $126,000 after acquiring an additional 35 shares in the last quarter. 78.66% of the stock is owned by institutional investors and hedge funds.
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Travelers Companies Company Profile
The Travelers Companies, Inc is a holding company. The Company’s segments include Business and International Insurance; Bond & Specialty Insurance, and Personal Insurance. Through its subsidiaries, it provides commercial and personal property and casualty insurance products and services. The Business and International Insurance segment offers property and casualty insurance and insurance related services to its clients, in the United States and in Canada, as well as in the United Kingdom, the Republic of Ireland, Brazil and throughout other parts of the world.
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