Travelers Companies (NYSE:TRV) Price Target Lowered to $259.00 at Piper Sandler

Travelers Companies (NYSE:TRV) had its target price decreased by Piper Sandler from $280.00 to $259.00 in a research report report published on Monday morning,Benzinga reports. Piper Sandler currently has a neutral rating on the insurance provider’s stock.

Several other research analysts have also recently commented on TRV. Royal Bank of Canada increased their target price on shares of Travelers Companies from $250.00 to $273.00 and gave the stock a “sector perform” rating in a report on Friday, October 18th. Hsbc Global Res raised shares of Travelers Companies from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, December 10th. Roth Mkm upped their price target on shares of Travelers Companies from $240.00 to $300.00 and gave the stock a “buy” rating in a research report on Monday, October 21st. Wells Fargo & Company reissued an “underweight” rating and issued a $217.00 price objective (down previously from $256.00) on shares of Travelers Companies in a research report on Wednesday, December 11th. Finally, UBS Group boosted their price objective on shares of Travelers Companies from $244.00 to $270.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 22nd. Five analysts have rated the stock with a sell rating, twelve have assigned a hold rating, six have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $253.45.

Travelers Companies Trading Down 0.2 %

TRV opened at $241.77 on Monday. The stock has a market capitalization of $54.89 billion, a P/E ratio of 12.40, a P/E/G ratio of 1.17 and a beta of 0.65. The firm’s fifty day simple moving average is $251.35 and its 200 day simple moving average is $234.10. Travelers Companies has a 12 month low of $189.87 and a 12 month high of $269.55. The company has a current ratio of 0.34, a quick ratio of 0.34 and a debt-to-equity ratio of 0.29.

Travelers Companies (NYSE:TRV) last announced its earnings results on Thursday, October 17th. The insurance provider reported $5.24 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.79 by $1.45. The business had revenue of $11.90 billion for 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%. Travelers Companies’s revenue for the quarter was up 11.9% compared to the same quarter last year. During the same quarter last year, the firm earned $1.95 EPS. As a group, research analysts anticipate that Travelers Companies will post 18.84 EPS for the current fiscal year.

Travelers Companies Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Tuesday, December 10th were given a dividend of $1.05 per share. This represents a $4.20 annualized dividend and a yield of 1.74%. The ex-dividend date was Tuesday, December 10th. Travelers Companies’s payout ratio is 21.54%.

Insider Activity

In other news, CEO Alan D. Schnitzer sold 40,524 shares of the firm’s stock in a transaction that occurred on Monday, October 21st. The shares were sold at an average price of $260.12, for a total transaction of $10,541,102.88. Following the transaction, the chief executive officer now directly owns 221,924 shares of the company’s stock, valued at approximately $57,726,870.88. This trade represents a 15.44 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Vice Chairman William H. Heyman sold 3,000 shares of the business’s stock in a transaction that occurred on Tuesday, October 22nd. The shares were sold at an average price of $260.55, for a total value of $781,650.00. Following the completion of the sale, the insider now owns 250,384 shares of the company’s stock, valued at approximately $65,237,551.20. This trade represents a 1.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 78,149 shares of company stock valued at $20,295,856. 1.33% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of TRV. FMR LLC lifted its position in Travelers Companies by 12.6% during the third quarter. FMR LLC now owns 14,048,691 shares of the insurance provider’s stock worth $3,289,079,000 after purchasing an additional 1,568,909 shares during the period. International Assets Investment Management LLC lifted its holdings in shares of Travelers Companies by 23,378.8% during the 3rd quarter. International Assets Investment Management LLC now owns 520,291 shares of the insurance provider’s stock worth $121,811,000 after acquiring an additional 518,075 shares during the period. Bank of Montreal Can boosted its position in shares of Travelers Companies by 66.9% during the 3rd quarter. Bank of Montreal Can now owns 705,793 shares of the insurance provider’s stock worth $166,645,000 after acquiring an additional 282,884 shares in the last quarter. Point72 Asset Management L.P. bought a new position in Travelers Companies in the third quarter valued at approximately $54,988,000. Finally, Janus Henderson Group PLC raised its position in Travelers Companies by 216.3% during the third quarter. Janus Henderson Group PLC now owns 339,901 shares of the insurance provider’s stock valued at $79,582,000 after purchasing an additional 232,428 shares in the last quarter. 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.