Travelers Companies (NYSE:TRV) Given New $202.00 Price Target at Bank of America

Travelers Companies (NYSE:TRV) had its price target reduced by Bank of America from $214.00 to $202.00 in a research report sent to investors on Thursday, Benzinga reports. They currently have an underperform rating on the insurance provider’s stock.

A number of other equities research analysts also recently issued reports on the stock. Citigroup reissued a sell rating and issued a $200.00 price target (down from $226.00) on shares of Travelers Companies in a research note on Friday, June 28th. William Blair reissued a market perform rating on shares of Travelers Companies in a research note on Friday, June 28th. Oppenheimer reissued a market perform rating on shares of Travelers Companies in a research note on Friday, April 5th. Piper Sandler reissued a neutral rating and issued a $213.00 price target on shares of Travelers Companies in a research note on Monday, April 1st. Finally, Roth Mkm restated a buy rating and issued a $240.00 price objective on shares of Travelers Companies in a report on Thursday, April 18th. Four equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating, five have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Travelers Companies has a consensus rating of Hold and an average target price of $221.89.

Travelers Companies Price Performance

Shares of TRV stock opened at $208.91 on Thursday. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.34 and a quick ratio of 0.34. The firm’s 50-day moving average is $210.82 and its two-hundred day moving average is $212.58. Travelers Companies has a 12 month low of $157.33 and a 12 month high of $232.75. The company has a market capitalization of $47.84 billion, a PE ratio of 15.52, a price-to-earnings-growth ratio of 1.11 and a beta of 0.61.

Travelers Companies (NYSE:TRV) last issued its earnings results on Wednesday, April 17th. The insurance provider reported $4.69 EPS for the quarter, missing analysts’ consensus estimates of $4.75 by ($0.06). The firm had revenue of $11.23 billion for the quarter, compared to analysts’ expectations of $10.62 billion. Travelers Companies had a return on equity of 13.94% and a net margin of 7.32%. Travelers Companies’s revenue for the quarter was up 15.7% on a year-over-year basis. During the same period last year, the firm earned $4.11 earnings per share. Analysts predict that Travelers Companies will post 17.44 earnings per share for the current year.

Travelers Companies Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Monday, June 10th were given a $1.05 dividend. This is an increase from Travelers Companies’s previous quarterly dividend of $1.00. The ex-dividend date of this dividend was Monday, June 10th. This represents a $4.20 annualized dividend and a yield of 2.01%. Travelers Companies’s dividend payout ratio is 31.20%.

Insider Activity at Travelers Companies

In related news, EVP Michael Frederick Klein sold 10,000 shares of the company’s stock in a transaction on Tuesday, April 23rd. The shares were sold at an average price of $213.96, for a total value of $2,139,600.00. Following the completion of the sale, the executive vice president now owns 22,798 shares in the company, valued at approximately $4,877,860.08. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, EVP Michael Frederick Klein sold 10,000 shares of the company’s stock in a transaction on Tuesday, April 23rd. The shares were sold at an average price of $213.96, for a total value of $2,139,600.00. Following the completion of the sale, the executive vice president now owns 22,798 shares in the company, valued at approximately $4,877,860.08. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO Daniel S. Frey sold 5,000 shares of the company’s stock in a transaction on Thursday, April 25th. The shares were sold at an average price of $212.90, for a total transaction of $1,064,500.00. Following the completion of the sale, the chief financial officer now owns 18,515 shares of the company’s stock, valued at approximately $3,941,843.50. The disclosure for this sale can be found here. Insiders sold a total of 18,635 shares of company stock worth $3,980,827 in the last 90 days. 1.33% of the stock is owned by insiders.

Hedge Funds Weigh In On Travelers Companies

Large investors have recently bought and sold shares of the company. Johnson Investment Counsel Inc. raised its position in Travelers Companies by 29.0% during the 4th quarter. Johnson Investment Counsel Inc. now owns 4,614 shares of the insurance provider’s stock worth $879,000 after buying an additional 1,037 shares during the last quarter. Nordea Investment Management AB raised its position in Travelers Companies by 38.7% during the 1st quarter. Nordea Investment Management AB now owns 342,288 shares of the insurance provider’s stock worth $78,689,000 after buying an additional 95,451 shares during the last quarter. Focus Financial Network Inc. ADV purchased a new position in Travelers Companies during the 4th quarter worth $1,973,000. Dynamic Advisor Solutions LLC increased its holdings in shares of Travelers Companies by 124.9% in the 4th quarter. Dynamic Advisor Solutions LLC now owns 13,775 shares of the insurance provider’s stock valued at $2,660,000 after purchasing an additional 7,649 shares in the last quarter. Finally, Wellington Management Group LLP increased its holdings in shares of Travelers Companies by 100.9% in the 4th quarter. Wellington Management Group LLP now owns 50,910 shares of the insurance provider’s stock valued at $9,698,000 after purchasing an additional 25,575 shares in the last quarter. 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.