The Travelers Companies, Inc. (TRV) Price Target Increased to $139.00 by Analysts at UBS AG
The Travelers Companies, Inc. (NYSE:TRV) had its price objective increased by stock analysts at UBS AG from $131.00 to $139.00 in a research note issued on Wednesday, www.benzinga.com reports. The brokerage currently has a “neutral” rating on the insurance provider’s stock. UBS AG’s target price would indicate a potential upside of 4.95% from the stock’s current price.
TRV has been the topic of several other research reports. Royal Bank Of Canada reiterated a “buy” rating and issued a $135.00 price objective on shares of The Travelers Companies in a research note on Monday, August 21st. Citigroup Inc. dropped their price objective on shares of The Travelers Companies from $142.00 to $140.00 and set a “buy” rating on the stock in a research note on Monday, October 2nd. Credit Suisse Group dropped their price objective on shares of The Travelers Companies from $128.00 to $125.00 and set a “neutral” rating on the stock in a research note on Tuesday, September 12th. Zacks Investment Research upgraded shares of The Travelers Companies from a “sell” rating to a “hold” rating in a research note on Thursday, September 14th. Finally, ValuEngine upgraded shares of The Travelers Companies from a “hold” rating to a “buy” rating in a research note on Friday, September 1st. Five research analysts have rated the stock with a sell rating, eight have given a hold rating and nine have given a buy rating to the company. The Travelers Companies presently has a consensus rating of “Hold” and an average target price of $128.54.
The Travelers Companies (NYSE:TRV) last released its quarterly earnings data on Thursday, October 19th. The insurance provider reported $0.91 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $2.10 by ($1.19). The company had revenue of $6.66 billion during the quarter, compared to analyst estimates of $6.46 billion. The Travelers Companies had a net margin of 8.56% and a return on equity of 9.87%. The firm’s quarterly revenue was up 4.2% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.40 EPS.
The Travelers Companies announced that its Board of Directors has authorized a share repurchase plan on Monday, September 11th that authorizes the company to repurchase shares. This repurchase authorization authorizes the insurance provider to purchase shares of its stock through open market purchases. Shares repurchase plans are often 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 stock in a transaction on Monday, August 7th. The shares were sold at an average price of $129.35, for a total value of $713,753.30. Following the completion of the sale, the insider now directly owns 82,824 shares of the company’s stock, valued at approximately $10,713,284.40. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Vice Chairman Jay S. Benet sold 16,566 shares of the stock in a transaction on Wednesday, August 9th. The shares were sold at an average price of $130.01, for a total transaction of $2,153,745.66. Following the completion of the sale, the insider now directly owns 93,872 shares of the company’s stock, valued at $12,204,298.72. The disclosure for this sale can be found here. Over the last three months, insiders sold 30,409 shares of company stock valued at $3,943,124. Insiders own 0.82% of the company’s stock.
A number of institutional investors have recently modified their holdings of the business. Connor Clark & Lunn Investment Management Ltd. lifted its holdings in shares of The Travelers Companies by 4.4% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 220,830 shares of the insurance provider’s stock worth $24,923,000 after acquiring an additional 9,225 shares during the period. Great West Life Assurance Co. Can lifted its holdings in shares of The Travelers Companies by 0.5% during the 3rd quarter. Great West Life Assurance Co. Can now owns 596,098 shares of the insurance provider’s stock worth $68,288,000 after acquiring an additional 3,145 shares during the period. Carnick & Kubik Group LLC bought a new position in shares of The Travelers Companies during the 3rd quarter worth about $758,000. Gerstein Fisher lifted its holdings in shares of The Travelers Companies by 3.5% during the 3rd quarter. Gerstein Fisher now owns 15,509 shares of the insurance provider’s stock worth $1,544,000 after acquiring an additional 522 shares during the period. Finally, Pittenger & Anderson Inc. lifted its holdings in shares of The Travelers Companies by 0.7% during the 4th quarter. Pittenger & Anderson Inc. now owns 48,205 shares of the insurance provider’s stock worth $5,440,000 after acquiring an additional 330 shares during the period. 78.28% of the stock is owned by hedge funds and other institutional investors.
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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