Travelers Companies (NYSE:TRV) Price Target Raised to $351.00 at HSBC

Travelers Companies (NYSE:TRV) had its price objective lifted by HSBC from $321.00 to $351.00 in a research report released on Monday, MarketBeat Ratings reports. They currently have a hold rating on the insurance provider’s stock.

TRV has been the topic of a number of other reports. Weiss Ratings restated a “buy (a-)” rating on shares of Travelers Companies in a report on Friday, May 8th. JPMorgan Chase & Co. upgraded Travelers Companies from an “underweight” rating to a “neutral” rating and boosted their target price for the company from $316.00 to $322.00 in a research note on Tuesday, May 26th. Evercore reaffirmed an “outperform” rating on shares of Travelers Companies in a research note on Friday, April 17th. Barclays downgraded shares of Travelers Companies from an “equal weight” rating to an “underweight” rating and lowered their price objective for the company from $331.00 to $295.00 in a report on Friday, June 12th. Finally, Brean Capital assumed coverage on shares of Travelers Companies in a research report on Thursday, March 12th. They issued a “neutral” rating on the stock. Three equities research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating, eleven have given a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $318.94.

Travelers Companies Stock Performance

Shares of TRV opened at $346.47 on Monday. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.35 and a current ratio of 0.35. Travelers Companies has a twelve month low of $249.19 and a twelve month high of $345.51. The firm’s 50 day moving average price is $306.77 and its two-hundred day moving average price is $298.14. The firm has a market cap of $73.68 billion, a P/E ratio of 10.29, a PEG ratio of 3.09 and a beta of 0.46.

Travelers Companies (NYSE:TRV) last issued its quarterly earnings data on Thursday, April 16th. The insurance provider reported $7.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.80 by $0.91. The company had revenue of $11.92 billion during the quarter, compared to the consensus estimate of $11.11 billion. Travelers Companies had a net margin of 15.54% and a return on equity of 24.06%. The firm’s revenue was down 1.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.91 earnings per share. On average, analysts forecast that Travelers Companies will post 28 EPS for the current fiscal year.

Travelers Companies Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Wednesday, June 10th were paid a $1.25 dividend. This is a positive change from Travelers Companies’s previous quarterly dividend of $1.10. This represents a $5.00 dividend on an annualized basis and a yield of 1.4%. The ex-dividend date was Wednesday, June 10th. Travelers Companies’s dividend payout ratio is 14.88%.

Insider Activity at Travelers Companies

In other news, EVP Diane Kurtzman sold 2,867 shares of the stock in a transaction that occurred on Monday, April 20th. The stock was sold at an average price of $303.45, for a total value of $869,991.15. Following the completion of the sale, the executive vice president owned 5,298 shares of the company’s stock, valued at approximately $1,607,678.10. This represents a 35.11% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Jeffrey P. Klenk sold 6,414 shares of the business’s stock in a transaction on Monday, April 20th. The stock was sold at an average price of $305.06, for a total transaction of $1,956,654.84. Following the transaction, the executive vice president owned 6,075 shares in the company, valued at approximately $1,853,239.50. The trade was a 51.36% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 37,573 shares of company stock worth $11,504,146. Insiders own 1.39% of the company’s stock.

Institutional Investors Weigh In On Travelers Companies

Several hedge funds have recently bought and sold shares of TRV. HHM Wealth Advisors LLC raised its stake in Travelers Companies by 145.7% in the first quarter. HHM Wealth Advisors LLC now owns 86 shares of the insurance provider’s stock valued at $25,000 after buying an additional 51 shares during the period. Kemnay Advisory Services Inc. acquired a new stake in shares of Travelers Companies in the fourth quarter valued at approximately $26,000. Whipplewood Advisors LLC bought a new position in shares of Travelers Companies during the 1st quarter worth approximately $26,000. Osterweis Capital Management Inc. boosted its stake in shares of Travelers Companies by 1,820.0% during the 2nd quarter. Osterweis Capital Management Inc. now owns 96 shares of the insurance provider’s stock worth $26,000 after acquiring an additional 91 shares during the period. Finally, Kohmann Bosshard Financial Services LLC acquired a new position in shares of Travelers Companies during the 4th quarter worth approximately $28,000. 82.45% of the stock is currently owned by institutional investors and hedge funds.

Travelers Companies Company Profile

The Travelers Companies, Inc (NYSE: TRV) is a leading provider of property and casualty insurance products and services. The company underwrites a broad range of commercial and personal insurance lines, offering coverage designed to protect individuals, small and midsize businesses, and large corporate clients against property loss, liability, and other operational risks. Travelers is known for combining underwriting, claims management and risk control services to help clients prevent losses and recover when incidents occur.

On the commercial side, Travelers writes primary and specialty coverages including property, general liability, commercial auto, workers’ compensation, professional and management liability, surety and inland marine.