Travelers Companies (NYSE:TRV) Given New $273.00 Price Target at Royal Bank of Canada

Travelers Companies (NYSE:TRV) had its price objective raised by Royal Bank of Canada from $250.00 to $273.00 in a research report sent to investors on Friday morning, Benzinga reports. Royal Bank of Canada currently has a sector perform rating on the insurance provider’s stock.

TRV has been the topic of several other research reports. William Blair reaffirmed a “market perform” rating on shares of Travelers Companies in a research note on Friday, June 28th. Barclays started coverage on Travelers Companies in a report on Wednesday, September 4th. They set an “overweight” rating and a $286.00 price target on the stock. Piper Sandler lowered their price target on Travelers Companies from $213.00 to $207.00 and set a “neutral” rating on the stock in a report on Monday, July 22nd. Morgan Stanley lowered their price target on Travelers Companies from $220.00 to $210.00 and set an “equal weight” rating on the stock in a report on Friday, July 19th. Finally, The Goldman Sachs Group lifted their price target on Travelers Companies from $196.00 to $216.00 and gave the company a “sell” rating in a report on Wednesday, October 9th. Four investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $241.16.

Travelers Companies Price Performance

Shares of NYSE TRV opened at $259.70 on Friday. Travelers Companies has a fifty-two week low of $157.33 and a fifty-two week high of $269.55. The business has a 50 day moving average price of $232.88 and a two-hundred day moving average price of $219.74. The company has a quick ratio of 0.33, a current ratio of 0.34 and a debt-to-equity ratio of 0.29. The firm has a market cap of $59.19 billion, a PE ratio of 13.32, a price-to-earnings-growth ratio of 1.40 and a beta of 0.62.

Travelers Companies (NYSE:TRV) last issued its 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. The company had revenue of $11.90 billion during the quarter, compared to analyst estimates of $11.46 billion. Travelers Companies had a return on equity of 17.69% and a net margin of 10.02%. The business’s revenue was up 11.9% on a year-over-year basis. During the same quarter last year, the firm earned $1.95 EPS. Sell-side analysts expect that Travelers Companies will post 17.45 earnings per share for the current fiscal year.

Travelers Companies Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Tuesday, December 10th will be paid a dividend of $1.05 per share. The ex-dividend date is Tuesday, December 10th. This represents a $4.20 annualized dividend and a dividend yield of 1.62%. Travelers Companies’s dividend payout ratio is currently 21.54%.

Insider Transactions at Travelers Companies

In other news, EVP Michael Frederick Klein sold 10,000 shares of Travelers Companies stock in a transaction that occurred on Thursday, July 25th. The stock was sold at an average price of $211.44, for a total transaction of $2,114,400.00. Following the completion of the transaction, the executive vice president now directly owns 22,798 shares in the company, valued at approximately $4,820,409.12. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 1.33% of the stock is currently owned by corporate insiders.

Institutional Trading of Travelers Companies

Several institutional investors have recently added to or reduced their stakes in TRV. Wellington Management Group LLP boosted its stake in 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 during the period. Quadrature Capital Ltd raised its holdings in Travelers Companies by 139.3% in the 4th quarter. Quadrature Capital Ltd now owns 4,663 shares of the insurance provider’s stock valued at $888,000 after acquiring an additional 2,714 shares in the last quarter. Nomura Holdings Inc. acquired a new position in Travelers Companies in the 4th quarter valued at $874,000. Kapitalo Investimentos Ltda raised its holdings in Travelers Companies by 24.1% in the 4th quarter. Kapitalo Investimentos Ltda now owns 252 shares of the insurance provider’s stock valued at $48,000 after acquiring an additional 49 shares in the last quarter. Finally, Massmutual Trust Co. FSB ADV raised its holdings in Travelers Companies by 9.8% in the 1st quarter. Massmutual Trust Co. FSB ADV now owns 561 shares of the insurance provider’s stock valued at $129,000 after acquiring an additional 50 shares in the last quarter. 82.45% of the stock is currently owned by institutional investors.

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.