Royal Bank Of Canada Reaffirms “Buy” Rating for Travelers Companies (TRV)
Travelers Companies (NYSE:TRV)‘s stock had its “buy” rating reaffirmed by analysts at Royal Bank Of Canada in a report released on Friday. They currently have a $148.00 price objective on the insurance provider’s stock. Royal Bank Of Canada’s price objective would suggest a potential upside of 10.27% from the stock’s previous close.
TRV has been the subject of a number of other reports. Citigroup decreased their price target on Travelers Companies from $142.00 to $140.00 and set a “buy” rating for the company in a research report on Monday, October 2nd. Credit Suisse Group decreased their target price on Travelers Companies from $128.00 to $125.00 and set a “neutral” rating for the company in a research report on Tuesday, September 12th. Zacks Investment Research raised Travelers Companies from a “sell” rating to a “hold” rating in a research report on Thursday, September 14th. ValuEngine raised Travelers Companies from a “hold” rating to a “buy” rating in a research report on Friday, September 1st. Finally, B. Riley reissued a “neutral” rating on shares of Travelers Companies in a research report on Monday, November 6th. Four investment analysts have rated the stock with a sell rating, nine have given a hold rating and nine have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $132.18.
Shares of Travelers Companies (NYSE TRV) opened at $134.21 on Friday. The company has a current ratio of 0.41, a quick ratio of 0.41 and a debt-to-equity ratio of 0.29. The company has a market capitalization of $37,047.48, a P/E ratio of 16.53, a P/E/G ratio of 2.67 and a beta of 1.25. Travelers Companies has a 52-week low of $113.76 and a 52-week high of $137.95.
Travelers Companies announced that its Board of Directors has initiated a stock buyback program on Monday, September 11th that permits the company to buyback shares. This buyback authorization permits the insurance provider to reacquire shares of its stock through open market purchases. Shares buyback programs are usually an indication that the company’s leadership believes its stock is undervalued.
In other news, EVP Michael Frederick Klein sold 20,077 shares of the business’s stock in a transaction dated Tuesday, November 21st. The stock was sold at an average price of $130.68, for a total value of $2,623,662.36. Following the completion of the sale, the executive vice president now owns 21,619 shares of the company’s stock, valued at approximately $2,825,170.92. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Andy F. Bessette sold 2,000 shares of the business’s stock in a transaction dated Tuesday, November 14th. The shares were sold at an average price of $132.98, for a total value of $265,960.00. Following the completion of the sale, the executive vice president now directly owns 8,000 shares of the company’s stock, valued at approximately $1,063,840. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 55,302 shares of company stock valued at $7,347,753. Corporate insiders own 0.82% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its holdings in shares of Travelers Companies by 1.0% during the 2nd quarter. Vanguard Group Inc. now owns 21,769,557 shares of the insurance provider’s stock worth $2,754,501,000 after acquiring an additional 217,625 shares during the period. BlackRock Inc. grew its holdings in shares of Travelers Companies by 2,395.6% during the 1st quarter. BlackRock Inc. now owns 20,403,051 shares of the insurance provider’s stock worth $2,459,383,000 after acquiring an additional 19,585,476 shares during the period. State Street Corp grew its holdings in shares of Travelers Companies by 1.6% during the 1st quarter. State Street Corp now owns 18,949,803 shares of the insurance provider’s stock worth $2,284,205,000 after acquiring an additional 304,049 shares during the period. Massachusetts Financial Services Co. MA grew its holdings in shares of Travelers Companies by 1.4% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 12,951,653 shares of the insurance provider’s stock worth $1,541,765,000 after acquiring an additional 177,858 shares during the period. Finally, BlackRock Institutional Trust Company N.A. grew its holdings in shares of Travelers Companies by 6.2% during the 3rd quarter. BlackRock Institutional Trust Company N.A. now owns 9,122,241 shares of the insurance provider’s stock worth $1,044,953,000 after acquiring an additional 531,848 shares during the period. 78.52% of the stock is owned by institutional investors.
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About 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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