The Travelers Companies, Inc. (TRV) Receives “Neutral” Rating from MKM Partners
The Travelers Companies, Inc. (NYSE:TRV)‘s stock had its “neutral” rating reissued by research analysts at MKM Partners in a research note issued on Wednesday. They currently have a $130.00 price objective on the insurance provider’s stock, up from their prior price objective of $115.00. MKM Partners’ price objective would suggest a potential upside of 1.99% from the stock’s current price.
TRV has been the subject of several other reports. Citigroup Inc. upped their target price on The Travelers Companies from $140.00 to $150.00 and gave the stock a “buy” rating in a research note on Thursday, July 13th. BidaskClub downgraded The Travelers Companies from a “hold” rating to a “sell” rating in a research note on Monday. Bank of America Corporation downgraded The Travelers Companies from a “buy” rating to a “neutral” rating and increased their price objective for the company from $120.62 to $129.44 in a research note on Monday, June 19th. Keefe, Bruyette & Woods reissued a “hold” rating on shares of The Travelers Companies in a research note on Tuesday, June 20th. Finally, Vetr raised The Travelers Companies from a “hold” rating to a “buy” rating and set a $132.68 price objective for the company in a research note on Tuesday, June 27th. Five analysts have rated the stock with a sell rating, seven have given a hold rating and six have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $123.79.
Shares of The Travelers Companies (TRV) traded down 0.91% during mid-day trading on Wednesday, reaching $126.30. 548,106 shares of the company traded hands. The firm has a 50 day moving average of $126.47 and a 200-day moving average of $122.15. The stock has a market capitalization of $34.85 billion, a PE ratio of 12.58 and a beta of 1.21. The Travelers Companies has a 52 week low of $103.45 and a 52 week high of $129.60.
The Travelers Companies (NYSE:TRV) last announced its quarterly earnings results on Thursday, July 20th. The insurance provider reported $1.92 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $2.07 by $0.15. The company had revenue of $6.35 billion during the quarter, compared to analyst estimates of $6.31 billion. The Travelers Companies had a net margin of 10.15% and a return on equity of 11.68%. The company’s revenue was up 4.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.20 earnings per share. On average, equities research analysts expect that The Travelers Companies will post $8.96 EPS for the current fiscal year.
The Travelers Companies announced that its Board of Directors has initiated a stock buyback plan on Thursday, April 20th that authorizes the company to repurchase $5.00 billion in shares. This repurchase authorization authorizes the insurance provider to repurchase shares of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s leadership believes its shares are undervalued.
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In other The Travelers Companies news, SVP Douglas K. Russell sold 9,686 shares of the company’s stock in a transaction on Thursday, May 25th. The stock was sold at an average price of $123.00, for a total value of $1,191,378.00. Following the completion of the sale, the senior vice president now directly owns 29,267 shares in the company, valued at approximately $3,599,841. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP John P. Clifford, Jr. sold 5,500 shares of the company’s stock in a transaction on Friday, May 5th. The shares were sold at an average price of $120.92, for a total value of $665,060.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 76,998 shares of company stock valued at $9,624,685. 0.82% of the stock is owned by company insiders.
Several institutional investors have recently added to or reduced their stakes in the company. Rosenbaum Jay D. boosted its position in The Travelers Companies by 12.0% in the first quarter. Rosenbaum Jay D. now owns 5,025 shares of the insurance provider’s stock worth $605,000 after buying an additional 540 shares in the last quarter. Cohen Lawrence B boosted its position in The Travelers Companies by 26.1% in the first quarter. Cohen Lawrence B now owns 4,540 shares of the insurance provider’s stock worth $547,000 after buying an additional 940 shares in the last quarter. McQueen Ball & Associates Inc. boosted its position in The Travelers Companies by 2.7% in the first quarter. McQueen Ball & Associates Inc. now owns 17,948 shares of the insurance provider’s stock worth $2,163,000 after buying an additional 466 shares in the last quarter. Searle & CO. boosted its position in The Travelers Companies by 7.3% in the fourth quarter. Searle & CO. now owns 2,941 shares of the insurance provider’s stock worth $360,000 after buying an additional 200 shares in the last quarter. Finally, Kentucky Retirement Systems Insurance Trust Fund acquired a new position in The Travelers Companies during the fourth quarter worth $1,126,000. Institutional investors and hedge funds own 77.87% of the company’s stock.
The Travelers Companies Company Profile
The Travelers Companies, Inc is a holding company. The Company’s segments include Business and International Insurance; Bond & Specialty Insurance, and Personal Insurance. Through its subsidiaries, it provides commercial and personal property and casualty insurance products and services. The Business and International Insurance segment offers property and casualty insurance and insurance related services to its clients, in the United States and in Canada, as well as in the United Kingdom, the Republic of Ireland, Brazil and throughout other parts of the world.
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