Travelers Cos. Lowered to Hold at Sandler O’Neill (TRV)
Travelers Cos. (NYSE:TRV) was downgraded by Sandler O’Neill from a “buy” rating to a “hold” rating in a research note issued on Wednesday, TheFlyOnTheWall.com reports.
Shares of Travelers Cos. (NYSE:TRV) traded down 0.92% during mid-day trading on Wednesday, hitting $85.91. 329,062 shares of the company’s stock traded hands. Travelers Cos. has a 52-week low of $67.62 and a 52-week high of $89.00. The stock’s 50-day moving average is $81.74 and its 200-day moving average is $82.97. The company has a market cap of $32.085 billion and a P/E ratio of 11.20.
Travelers Cos. (NYSE:TRV) last posted its quarterly earnings results on Tuesday, October 22nd. The company reported $2.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.66 by $0.69. The company had revenue of $6.45 billion for the quarter, compared to the consensus estimate of $5.74 billion. During the same quarter in the previous year, the company posted $2.22 earnings per share. The company’s revenue for the quarter was up .3% on a year-over-year basis. On average, analysts predict that Travelers Cos. will post $8.50 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Tuesday, December 31st. Shareholders of record on Tuesday, December 10th will be given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 2.31%.
A number of other analysts have also recently weighed in on TRV. Analysts at Guggenheim downgraded shares of Travelers Cos. from a “neutral” rating to a “sell” rating in a research note to investors on Thursday, October 17th. They now have a $72.00 price target on the stock, down previously from $87.00. Separately, analysts at Barclays raised their price target on shares of Travelers Cos. from $97.00 to $100.00 in a research note to investors on Wednesday, October 2nd. They now have an “overweight” rating on the stock. Finally, analysts at FBR Capital Markets upgraded shares of Travelers Cos. from a “market perform” rating to an “outperform” rating in a research note to investors on Thursday, September 19th. They now have a $94.00 price target on the stock, up previously from $84.00. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $90.00.
The Travelers Companies, Inc (NYSE:TRV) is a holding company.
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