The Travelers Companies, Inc. (TRV) Given New $124.00 Price Target at Morgan Stanley
The Travelers Companies, Inc. (NYSE:TRV) had its price objective upped by investment analysts at Morgan Stanley from $119.00 to $124.00 in a report issued on Friday. The firm currently has an “underweight” rating on the insurance provider’s stock. Morgan Stanley’s target price suggests a potential downside of 6.89% from the company’s current price.
A number of other analysts have also recently commented on TRV. Wells Fargo & Co set a $125.00 price target on The Travelers Companies and gave the stock a “hold” rating in a research report on Thursday. MKM Partners reaffirmed a “neutral” rating and set a $130.00 price target (up previously from $115.00) on shares of The Travelers Companies in a research report on Wednesday, July 26th. Citigroup Inc. lowered their price target on The Travelers Companies from $142.00 to $140.00 and set a “buy” rating for the company in a research report on Monday, October 2nd. Buckingham Research assumed coverage on The Travelers Companies in a research report on Monday, September 11th. They set a “buy” rating and a $136.00 price target for the company. Finally, BidaskClub cut The Travelers Companies from a “hold” rating to a “sell” rating in a research report on Monday, July 24th. Five analysts have rated the stock with a sell rating, eight have given a hold rating and nine have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $126.01.
Shares of The Travelers Companies (TRV) opened at 133.17 on Friday. The stock has a market cap of $36.75 billion, a PE ratio of 13.26 and a beta of 1.20. The company’s 50-day moving average price is $123.04 and its 200-day moving average price is $124.23. The Travelers Companies has a 52-week low of $103.45 and a 52-week high of $133.17.
The Travelers Companies (NYSE:TRV) last issued its quarterly earnings results on Thursday, October 19th. The insurance provider reported $0.91 EPS for the quarter, missing the Zacks’ consensus estimate of $2.10 by ($1.19). The Travelers Companies had a return on equity of 11.68% and a net margin of 10.15%. The firm had revenue of $6.66 billion for the quarter, compared to analyst estimates of $6.46 billion. During the same period in the prior year, the firm posted $2.40 EPS. The business’s revenue was up 4.2% compared to the same quarter last year. On average, equities research analysts forecast that The Travelers Companies will post $7.25 earnings per share for the current fiscal year.
The Travelers Companies declared that its Board of Directors has authorized a stock buyback plan on Monday, September 11th that allows the company to repurchase shares. This repurchase authorization allows the insurance provider to reacquire shares of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s leadership believes its shares are undervalued.
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In related news, Vice Chairman William H. Heyman sold 14,000 shares of The Travelers Companies stock in a transaction dated Monday, July 24th. The stock was sold at an average price of $125.79, for a total value of $1,761,060.00. Following the completion of the transaction, the insider now owns 253,744 shares in the company, valued at approximately $31,918,457.76. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Andy F. Bessette sold 3,300 shares of The Travelers Companies stock in a transaction dated Tuesday, August 1st. The shares were sold at an average price of $128.50, for a total value of $424,050.00. Following the completion of the transaction, the executive vice president now owns 10,000 shares of the company’s stock, valued at approximately $1,285,000. The disclosure for this sale can be found here. In the last 90 days, insiders sold 122,805 shares of company stock valued at $15,743,311. 0.82% of the stock is owned by company insiders.
Several institutional investors have recently made changes to their positions in TRV. Lowe FS purchased a new position in shares of The Travelers Companies in the 3rd quarter valued at about $15,000. CWM LLC increased its stake in shares of The Travelers Companies by 4.9% in the 2nd quarter. CWM LLC now owns 794 shares of the insurance provider’s stock valued at $100,000 after purchasing an additional 37 shares in the last quarter. Westside Investment Management Inc. increased its stake in shares of The Travelers Companies by 361.1% in the 1st quarter. Westside Investment Management Inc. now owns 876 shares of the insurance provider’s stock valued at $106,000 after purchasing an additional 686 shares in the last quarter. First Personal Financial Services increased its stake in shares of The Travelers Companies by 133.3% in the 1st quarter. First Personal Financial Services now owns 889 shares of the insurance provider’s stock valued at $107,000 after purchasing an additional 508 shares in the last quarter. Finally, Intellectus Partners LLC purchased a new position in shares of The Travelers Companies in the 4th quarter valued at about $109,000. Hedge funds and other institutional investors own 77.40% of the company’s stock.
About The Travelers Companies
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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