Citigroup Reaffirms “Sell” Rating for Travelers Companies (NYSE:TRV)

Citigroup reissued their sell rating on shares of Travelers Companies (NYSE:TRV) in a report issued on Friday morning, MarketBeat.com reports. The brokerage currently has a $200.00 target price on the insurance provider’s stock, down from their prior target price of $226.00.

TRV has been the topic of several other reports. TD Cowen lowered their price target on Travelers Companies from $261.00 to $252.00 and set a buy rating on the stock in a report on Tuesday, April 23rd. Piper Sandler reissued a neutral rating and issued a $213.00 target price on shares of Travelers Companies in a research report on Monday, April 1st. Royal Bank of Canada restated a sector perform rating and set a $225.00 price target on shares of Travelers Companies in a research note on Monday, June 24th. The Goldman Sachs Group increased their price objective on shares of Travelers Companies from $186.00 to $212.00 and gave the stock a sell rating in a research note on Friday, April 12th. Finally, Morgan Stanley boosted their target price on shares of Travelers Companies from $214.00 to $216.00 and gave the company an equal weight rating in a research report on Friday, May 10th. Three investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of Hold and a consensus price target of $221.12.

Travelers Companies Price Performance

Shares of NYSE:TRV opened at $203.34 on Friday. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.34 and a current ratio of 0.34. The firm has a market cap of $46.56 billion, a price-to-earnings ratio of 15.11, a price-to-earnings-growth ratio of 1.08 and a beta of 0.62. The business has a 50-day simple moving average of $212.47 and a two-hundred day simple moving average of $211.70. Travelers Companies has a fifty-two week low of $157.33 and a fifty-two week high of $232.75.

Travelers Companies (NYSE:TRV) last announced its quarterly earnings results on Wednesday, April 17th. The insurance provider reported $4.69 EPS for the quarter, missing analysts’ consensus estimates of $4.75 by ($0.06). The company had revenue of $11.23 billion during the quarter, compared to the consensus estimate of $10.62 billion. Travelers Companies had a return on equity of 13.94% and a net margin of 7.32%. The business’s revenue was up 15.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $4.11 earnings per share. On average, analysts expect that Travelers Companies will post 17.59 earnings per share for the current year.

Travelers Companies Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Monday, June 10th were issued a $1.05 dividend. The ex-dividend date was Monday, June 10th. This is a boost from Travelers Companies’s previous quarterly dividend of $1.00. This represents a $4.20 dividend on an annualized basis and a yield of 2.07%. Travelers Companies’s payout ratio is currently 31.20%.

Insider Buying and Selling at Travelers Companies

In other news, EVP Jeffrey P. Klenk sold 3,635 shares of the business’s stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $213.68, for a total value of $776,726.80. Following the transaction, the executive vice president now owns 6,075 shares of the company’s stock, valued at $1,298,106. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, EVP Jeffrey P. Klenk sold 3,635 shares of the firm’s stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $213.68, for a total transaction of $776,726.80. Following the completion of the transaction, the executive vice president now owns 6,075 shares in the company, valued at $1,298,106. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Daniel S. Frey sold 5,000 shares of the business’s stock in a transaction dated Thursday, April 25th. The stock was sold at an average price of $212.90, for a total value of $1,064,500.00. Following the completion of the sale, the chief financial officer now owns 18,515 shares in the company, valued at $3,941,843.50. The disclosure for this sale can be found here. Insiders sold a total of 18,635 shares of company stock valued at $3,980,827 in the last three months. 1.33% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the business. Northwest Financial Advisors bought a new position in Travelers Companies during the fourth quarter valued at $32,000. Pathway Financial Advisers LLC bought a new position in shares of Travelers Companies in the 1st quarter valued at about $35,000. Beacon Capital Management LLC grew its position in Travelers Companies by 74.2% in the first quarter. Beacon Capital Management LLC now owns 155 shares of the insurance provider’s stock worth $36,000 after acquiring an additional 66 shares in the last quarter. Private Wealth Management Group LLC bought a new stake in Travelers Companies during the fourth quarter worth approximately $39,000. Finally, Valued Wealth Advisors LLC purchased a new stake in Travelers Companies during the fourth quarter valued at approximately $40,000. 82.45% of the stock is owned by hedge funds and other institutional investors.

About Travelers Companies

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.