Argus Boosts The Travelers Companies, Inc. (TRV) Price Target to $145.00
The Travelers Companies, Inc. (NYSE:TRV) had its target price increased by stock analysts at Argus to $145.00 in a research note issued on Monday, The Fly reports. The firm currently has a “positive” rating on the insurance provider’s stock. Argus’ target price suggests a potential upside of 8.76% from the company’s previous close. The analysts noted that the move was a valuation call.
A number of other research analysts have also recently commented on the company. Royal Bank Of Canada upped their price target on The Travelers Companies to $140.00 and gave the stock an “outperform” rating in a research note on Friday. Citigroup Inc. upped their price target on The Travelers Companies from $143.00 to $151.00 and gave the stock a “buy” rating in a research note on Friday. Morgan Stanley upped their price target on The Travelers Companies from $119.00 to $124.00 and gave the stock an “underweight” rating in a research note on Friday. Wells Fargo & Company set a $125.00 price target on The Travelers Companies and gave the stock a “hold” rating in a research note on Thursday. Finally, Keefe, Bruyette & Woods upgraded The Travelers Companies from a “market perform” rating to an “outperform” rating in a research note on Monday, October 16th. Five investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and nine have assigned a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $127.71.
Shares of The Travelers Companies (NYSE TRV) opened at 133.03 on Monday. The company has a market capitalization of $36.71 billion, a price-to-earnings ratio of 13.25 and a beta of 1.20. The firm’s 50-day moving average price is $123.39 and its 200-day moving average price is $124.33. The Travelers Companies has a 12 month low of $103.45 and a 12 month high of $134.11.
The Travelers Companies (NYSE:TRV) last released its quarterly earnings results on Thursday, October 19th. The insurance provider reported $0.91 EPS for the quarter, missing analysts’ consensus estimates of $2.10 by ($1.19). The Travelers Companies had a return on equity of 9.87% and a net margin of 8.56%. The firm had revenue of $6.66 billion for the quarter, compared to analyst estimates of $6.46 billion. During the same quarter last year, the company earned $2.40 earnings per share. The firm’s revenue for the quarter was up 4.2% on a year-over-year basis. Equities research analysts expect that The Travelers Companies will post $7.44 EPS for the current year.
The Travelers Companies announced that its board has authorized a share buyback plan on Monday, September 11th that allows the company to repurchase outstanding shares. This repurchase authorization allows the insurance provider to purchase shares of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s board of directors believes its shares are undervalued.
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In other The Travelers Companies news, Vice Chairman Jay S. Benet sold 5,518 shares of the firm’s stock in a transaction on Monday, July 31st. The stock was sold at an average price of $127.77, for a total value of $705,034.86. Following the sale, the insider now directly owns 82,824 shares in the company, valued at $10,582,422.48. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Vice Chairman William H. Heyman sold 24,000 shares of the firm’s stock in a transaction on Tuesday, July 25th. The shares were sold at an average price of $126.64, for a total value of $3,039,360.00. Following the completion of the sale, the insider now owns 253,744 shares in the company, valued at $32,134,140.16. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 108,805 shares of company stock worth $13,982,251. 0.82% of the stock is owned by insiders.
A number of institutional investors have recently bought and sold shares of the business. Whittier Trust Co. raised its stake in The Travelers Companies by 0.7% in the third quarter. Whittier Trust Co. now owns 89,397 shares of the insurance provider’s stock valued at $10,953,000 after buying an additional 595 shares in the last quarter. APG Asset Management N.V. raised its stake in The Travelers Companies by 12.5% in the third quarter. APG Asset Management N.V. now owns 2,735,245 shares of the insurance provider’s stock valued at $335,122,000 after buying an additional 304,900 shares in the last quarter. Carnick & Kubik Group LLC acquired a new stake in The Travelers Companies in the third quarter valued at $758,000. Denali Advisors LLC raised its stake in The Travelers Companies by 23.1% in the third quarter. Denali Advisors LLC now owns 103,400 shares of the insurance provider’s stock valued at $12,669,000 after buying an additional 19,400 shares in the last quarter. Finally, Farmers & Merchants Investments Inc. raised its stake in The Travelers Companies by 7.1% in the third quarter. Farmers & Merchants Investments Inc. now owns 7,988 shares of the insurance provider’s stock valued at $979,000 after buying an additional 532 shares in the last quarter. Institutional investors own 77.40% 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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