Morgan Stanley Boosts Travelers Companies (NYSE:TRV) Price Target to $230.00

Travelers Companies (NYSE:TRV) had its price target upped by Morgan Stanley from $222.00 to $230.00 in a research note published on Monday, Benzinga reports. They currently have an equal weight rating on the insurance provider’s stock.

Other equities analysts have also issued reports about the company. Piper Sandler reissued a neutral rating and issued a $213.00 price target on shares of Travelers Companies in a research note on Monday, April 1st. The Goldman Sachs Group boosted their price target on Travelers Companies from $186.00 to $212.00 and gave the company a sell rating in a research note on Friday, April 12th. Royal Bank of Canada boosted their price target on Travelers Companies from $185.00 to $210.00 and gave the company a sector perform rating in a research note on Monday, January 22nd. JPMorgan Chase & Co. boosted their price target on Travelers Companies from $194.00 to $213.00 and gave the company an underweight rating in a research note on Monday, April 8th. Finally, StockNews.com upgraded Travelers Companies from a hold rating to a buy rating in a report on Friday, March 29th. Two equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of Hold and a consensus target price of $217.00.

Travelers Companies Price Performance

Travelers Companies stock opened at $206.58 on Monday. The stock’s 50 day moving average is $221.87 and its 200 day moving average is $196.17. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.34 and a quick ratio of 0.34. The firm has a market cap of $47.33 billion, a P/E ratio of 16.15, a P/E/G ratio of 1.16 and a beta of 0.58. Travelers Companies has a one year low of $157.33 and a one year high of $232.75.

Travelers Companies (NYSE:TRV) last issued its quarterly earnings results on Wednesday, April 17th. The insurance provider reported $4.69 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.74 by ($0.05). Travelers Companies had a net margin of 7.23% and a return on equity of 13.68%. The business had revenue of $11.23 billion during the quarter, compared to analyst estimates of $10.62 billion. During the same period last year, the firm posted $4.11 earnings per share. Travelers Companies’s quarterly revenue was up 15.7% compared to the same quarter last year. As a group, research analysts expect that Travelers Companies will post 17.62 EPS for the current year.

Travelers Companies Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Monday, June 10th will be given a $1.05 dividend. This is a positive change from Travelers Companies’s previous quarterly dividend of $1.00. This represents a $4.20 dividend on an annualized basis and a yield of 2.03%. Travelers Companies’s dividend payout ratio is presently 31.27%.

Insider Activity at Travelers Companies

In related news, Vice Chairman William H. Heyman sold 26,633 shares of the stock in a transaction on Tuesday, January 23rd. The stock was sold at an average price of $212.76, for a total value of $5,666,437.08. Following the completion of the sale, the insider now directly owns 255,178 shares of the company’s stock, valued at approximately $54,291,671.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, Vice Chairman William H. Heyman sold 4,500 shares of the firm’s stock in a transaction on Friday, February 2nd. The stock was sold at an average price of $215.06, for a total transaction of $967,770.00. Following the completion of the sale, the insider now directly owns 255,178 shares of the company’s stock, valued at approximately $54,878,580.68. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Vice Chairman William H. Heyman sold 26,633 shares of the firm’s stock in a transaction on Tuesday, January 23rd. The shares were sold at an average price of $212.76, for a total value of $5,666,437.08. Following the sale, the insider now directly owns 255,178 shares of the company’s stock, valued at $54,291,671.28. The disclosure for this sale can be found here. In the last three months, insiders sold 109,775 shares of company stock valued at $23,343,903. 1.33% of the stock is owned by insiders.

Institutional Investors Weigh In On Travelers Companies

Several large investors have recently made changes to their positions in TRV. Fairfield Bush & CO. purchased a new stake in Travelers Companies in the 1st quarter worth about $160,000. Cibc World Market Inc. increased its holdings in Travelers Companies by 28.8% in the 1st quarter. Cibc World Market Inc. now owns 5,934 shares of the insurance provider’s stock worth $1,084,000 after acquiring an additional 1,327 shares during the last quarter. Vontobel Holding Ltd. increased its holdings in Travelers Companies by 1.0% in the 1st quarter. Vontobel Holding Ltd. now owns 11,905 shares of the insurance provider’s stock worth $2,210,000 after acquiring an additional 115 shares during the last quarter. Blair William & Co. IL increased its holdings in Travelers Companies by 40.6% in the 1st quarter. Blair William & Co. IL now owns 51,551 shares of the insurance provider’s stock worth $9,420,000 after acquiring an additional 14,873 shares during the last quarter. Finally, Sei Investments Co. increased its holdings in Travelers Companies by 5.0% in the 1st quarter. Sei Investments Co. now owns 27,212 shares of the insurance provider’s stock worth $4,952,000 after acquiring an additional 1,286 shares during the last quarter. 82.45% of the stock is owned by hedge funds and other institutional investors.

Travelers Companies Company Profile

The Travelers Companies, Inc, through its subsidiaries, provides a range of commercial and personal property, and casualty insurance products and services to businesses, government units, associations, and individuals in the United States and internationally. The company operates through three segments: Business Insurance, Bond & Specialty Insurance, and Personal Insurance.