Travelers Companies Stock Rating Reaffirmed by Deutsche Bank (TRV)
Travelers Companies (NYSE:TRV)‘s stock had its “outperform” rating reaffirmed by equities research analysts at Deutsche Bank in a research note issued to investors on Tuesday, American Banking News.com reports. They currently have a $99.00 price objective on the stock, up from their previous price objective of $94.00. Deutsche Bank’s price objective would indicate a potential upside of 7.56% from the stock’s previous close.
Travelers Companies (NYSE:TRV) traded up 0.87% on Tuesday, hitting $92.84. The stock had a trading volume of 1,113,683 shares. Travelers Companies has a 1-year low of $77.38 and a 1-year high of $92.93. The stock has a 50-day moving average of $87.17 and a 200-day moving average of $86.30. The company has a market cap of $32.259 billion and a P/E ratio of 8.90.
Travelers Companies (NYSE:TRV) last released its earnings data on Tuesday, April 22nd. The company reported $2.95 EPS for the quarter, beating the Thomson Reuters consensus estimate of $2.16 by $0.79. The company had revenue of $6.71 billion for the quarter, compared to the consensus estimate of $5.91 billion. During the same quarter in the prior year, the company posted $2.33 earnings per share. The company’s quarterly revenue was up 4.9% on a year-over-year basis. Analysts expect that Travelers Companies will post $9.27 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Monday, June 30th. Shareholders of record on Tuesday, June 10th will be given a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a yield of 2.39%. The ex-dividend date of this dividend is Friday, June 6th. This is a positive change from Travelers Companies’s previous quarterly dividend of $0.50.
In other Travelers Companies news, Chairman Jay Fishman sold 152,839 shares of the stock on the open market in a transaction that occurred on Monday, May 5th. The shares were sold at an average price of $90.60, for a total value of $13,847,213.40. Following the sale, the chairman now directly owns 512,066 shares in the company, valued at approximately $46,393,180. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.
Other equities research analysts have also recently issued reports about the stock. Analysts at Guggenheim upgraded shares of Travelers Companies from a “neutral” rating to a “buy” rating in a research note on Monday. They now have a $117.00 price target on the stock, up previously from $98.00. Separately, analysts at Zacks reiterated an “outperform” rating on shares of Travelers Companies in a research note on Friday. They now have a $109.00 price target on the stock. Finally, analysts at Citigroup Inc. reiterated a “sell” rating on shares of Travelers Companies in a research note on Wednesday, April 23rd. They now have a $77.00 price target on the stock. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and ten have assigned a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $94.73.
The Travelers Companies, Inc (NYSE:TRV) is a holding company.
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