The Travelers Cos. (TRV) Given New $123.00 Price Target at Citigroup Inc.
The Travelers Cos. (NYSE:TRV) had its target price lifted by equities researchers at Citigroup Inc. from $117.00 to $123.00 in a research report issued to clients and investors on Tuesday. The brokerage presently has a “neutral” rating on the stock. Citigroup Inc.’s price objective would suggest a potential upside of 6.83% from the company’s previous close.
Other research analysts have also issued reports about the stock. Zacks Investment Research upgraded shares of The Travelers Cos. from a “sell” rating to a “hold” rating in a report on Wednesday, August 31st. Royal Bank Of Canada upped their price objective on shares of The Travelers Cos. from $120.00 to $125.00 and gave the stock an “outperform” rating in a report on Friday, July 22nd. RBC Capital Markets restated an “outperform” rating and issued a $125.00 price objective (up from $120.00) on shares of The Travelers Cos. in a report on Sunday, July 24th. BMO Capital Markets restated a “market perform” rating and issued a $120.00 price objective (up from $117.00) on shares of The Travelers Cos. in a report on Tuesday, July 12th. Finally, Barclays PLC restated an “equal weight” rating and issued a $109.00 price objective (up from $105.00) on shares of The Travelers Cos. in a report on Saturday, October 1st. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and four have issued a buy rating to the company. The Travelers Cos. presently has an average rating of “Hold” and an average price target of $117.00.
Shares of The Travelers Cos. (NYSE:TRV) traded down 0.96% on Tuesday, hitting $114.04. 658,019 shares of the company’s stock were exchanged. The Travelers Cos. has a 12 month low of $101.23 and a 12 month high of $119.32. The firm has a market cap of $32.88 billion, a P/E ratio of 10.98 and a beta of 1.14. The stock’s 50 day moving average is $115.76 and its 200 day moving average is $115.07.
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The Travelers Cos. (NYSE:TRV) last issued its quarterly earnings data on Thursday, July 21st. The company reported $2.24 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $2.19 by $0.05. The Travelers Cos. had a net margin of 11.70% and a return on equity of 13.06%. The business earned $6.79 billion during the quarter, compared to analyst estimates of $6.37 billion. During the same period in the prior year, the business earned $2.52 EPS. The company’s revenue for the quarter was up 2.3% on a year-over-year basis. On average, equities analysts predict that The Travelers Cos. will post $9.54 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, September 30th. Investors of record on Friday, September 9th were given a dividend of $0.67 per share. This represents a $2.68 annualized dividend and a yield of 2.33%. The ex-dividend date of this dividend was Wednesday, September 7th. The Travelers Cos.’s dividend payout ratio (DPR) is 25.92%.
In related news, Vice Chairman Jay S. Benet sold 5,797 shares of the stock in a transaction dated Monday, August 1st. The shares were sold at an average price of $116.21, for a total transaction of $673,669.37. Following the sale, the insider now directly owns 71,352 shares of the company’s stock, valued at approximately $8,291,815.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Philip T. Ruegger III acquired 1,700 shares of the business’s stock in a transaction that occurred on Wednesday, August 10th. The shares were purchased at an average cost of $117.95 per share, for a total transaction of $200,515.00. Following the completion of the transaction, the director now directly owns 20,126 shares in the company, valued at approximately $2,373,861.70. The disclosure for this purchase can be found here. Corporate insiders own 1.34% of the company’s stock.
A number of hedge funds have recently made changes to their positions in the stock. Global X Management Co. LLC increased its stake in shares of The Travelers Cos. by 86.8% in the second quarter. Global X Management Co. LLC now owns 977 shares of the company’s stock valued at $116,000 after buying an additional 454 shares during the period. Mycio Wealth Partners LLC increased its stake in shares of The Travelers Cos. by 2.4% in the second quarter. Mycio Wealth Partners LLC now owns 1,062 shares of the company’s stock valued at $126,000 after buying an additional 25 shares during the period. Ledyard National Bank increased its stake in shares of The Travelers Cos. by 5.4% in the second quarter. Ledyard National Bank now owns 1,089 shares of the company’s stock valued at $130,000 after buying an additional 56 shares during the period. Krilogy Financial LLC increased its stake in shares of The Travelers Cos. by 3.8% in the second quarter. Krilogy Financial LLC now owns 1,128 shares of the company’s stock valued at $134,000 after buying an additional 41 shares during the period. Finally, Valley National Advisers Inc. increased its stake in shares of The Travelers Cos. by 53.4% in the second quarter. Valley National Advisers Inc. now owns 1,227 shares of the company’s stock valued at $146,000 after buying an additional 427 shares during the period. 80.13% of the stock is currently owned by institutional investors.
The Travelers Cos. Company Profile
The Travelers Companies, Inc is a holding company. The Company, through its subsidiaries, is engaged in providing a range of commercial and personal property and casualty insurance products and services to businesses, government units, associations and individuals. It operates through three segments: Business and International Insurance; Bond & Specialty Insurance, and Personal Insurance.
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