Travelers Companies (NYSE:TRV) was upgraded by equities researchers at Atlantic Securities from an “underweight” rating to a “neutral” rating in a research report issued on Friday, MarketBeat Ratings reports. The brokerage presently has a $110.00 price target on the insurance provider’s stock. Atlantic Securities’ price target would suggest a potential downside of 26.38% from the company’s previous close.
TRV has been the subject of several other reports. Bank of America upgraded shares of Travelers Companies from a “neutral” rating to a “buy” rating in a research report on Tuesday, January 9th. Citigroup reduced their price objective on shares of Travelers Companies from $142.00 to $140.00 and set a “buy” rating on the stock in a research note on Monday, October 2nd. Royal Bank of Canada upped their price objective on shares of Travelers Companies to $140.00 and gave the company an “outperform” rating in a research note on Friday, October 20th. B. Riley reaffirmed a “neutral” rating on shares of Travelers Companies in a research note on Monday, November 6th. Finally, Goldman Sachs Group assumed coverage on shares of Travelers Companies in a research note on Monday, December 4th. They issued a “sell” rating and a $124.00 price objective on the stock. Three analysts have rated the stock with a sell rating, nine have assigned a hold rating and eight have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $134.54.
Shares of Travelers Companies (TRV) traded up $0.95 during midday trading on Friday, reaching $149.42. 2,534,202 shares of the company’s stock traded hands, compared to its average volume of 1,640,000. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.41 and a current ratio of 0.39. Travelers Companies has a 1 year low of $113.76 and a 1 year high of $150.19. The firm has a market cap of $41,160.00, a PE ratio of 17.29, a P/E/G ratio of 1.99 and a beta of 1.25.
Travelers Companies declared that its Board of Directors has initiated a stock buyback program on Thursday, November 9th that authorizes the company to buyback outstanding shares. This buyback authorization authorizes the insurance provider to purchase shares of its stock through open market purchases. Shares buyback programs are typically an indication that the company’s leadership believes its shares are undervalued.
In related news, EVP Andy F. Bessette sold 2,000 shares of the stock in a transaction on Tuesday, November 14th. The shares were sold at an average price of $132.98, for a total transaction of $265,960.00. Following the transaction, the executive vice president now directly owns 8,000 shares of the company’s stock, valued at $1,063,840. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Michael Frederick Klein sold 20,077 shares of the stock in a transaction on Tuesday, November 21st. The stock was sold at an average price of $130.68, for a total transaction of $2,623,662.36. Following the transaction, the executive vice president now directly owns 21,619 shares in the company, valued at $2,825,170.92. The disclosure for this sale can be found here. Over the last three months, insiders have sold 55,302 shares of company stock worth $7,347,753. 0.82% of the stock is owned by insiders.
Institutional investors have recently added to or reduced their stakes in the business. Carnick & Kubik Group LLC bought a new position in shares of Travelers Companies in the third quarter valued at $758,000. Robeco Institutional Asset Management B.V. bought a new position in shares of Travelers Companies in the third quarter valued at $78,058,000. Point72 Asset Management L.P. bought a new position in shares of Travelers Companies in the third quarter valued at $8,254,000. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. lifted its stake in shares of Travelers Companies by 4.6% in the third quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 58,457 shares of the insurance provider’s stock valued at $7,162,000 after buying an additional 2,567 shares in the last quarter. Finally, Vaughan David Investments Inc. IL lifted its stake in shares of Travelers Companies by 1,454.3% in the third quarter. Vaughan David Investments Inc. IL now owns 219,728 shares of the insurance provider’s stock valued at $26,387,000 after buying an additional 205,591 shares in the last quarter. 78.54% of the stock is currently owned by hedge funds and other institutional investors.
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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.
