Barclays Cuts Travelers Companies (NYSE:TRV) Price Target to $278.00

Travelers Companies (NYSE:TRV) had its price target trimmed by Barclays from $295.00 to $278.00 in a report released on Monday,Benzinga reports. The firm currently has an overweight rating on the insurance provider’s stock.

Several other research firms have also recently issued reports on TRV. UBS Group increased their price target on shares of Travelers Companies from $244.00 to $270.00 and gave the stock a “neutral” rating in a report on Tuesday, October 22nd. StockNews.com raised shares of Travelers Companies from a “hold” rating to a “buy” rating in a report on Saturday, December 28th. Piper Sandler cut their price target on shares of Travelers Companies from $280.00 to $259.00 and set a “neutral” rating for the company in a report on Monday. Jefferies Financial Group increased their price target on shares of Travelers Companies from $210.00 to $235.00 and gave the stock a “hold” rating in a report on Wednesday, October 9th. Finally, Bank of America increased their target price on shares of Travelers Companies from $241.00 to $265.00 and gave the company an “underperform” rating in a report on Thursday, October 17th. Four analysts have rated the stock with a sell rating, twelve have given a hold rating, seven have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $255.10.

Travelers Companies Stock Performance

NYSE TRV opened at $242.89 on Monday. The company has a debt-to-equity ratio of 0.29, a current ratio of 0.34 and a quick ratio of 0.34. Travelers Companies has a 1 year low of $189.87 and a 1 year high of $269.55. The company has a market capitalization of $55.14 billion, a PE ratio of 12.46, a P/E/G ratio of 1.17 and a beta of 0.65. The company has a fifty day moving average of $251.06 and a two-hundred day moving average of $234.38.

Travelers Companies (NYSE:TRV) last announced its earnings results on Thursday, October 17th. The insurance provider reported $5.24 EPS for the quarter, beating analysts’ consensus estimates of $3.79 by $1.45. Travelers Companies had a net margin of 10.02% and a return on equity of 17.69%. The business had revenue of $11.90 billion during the quarter, compared to analysts’ expectations of $11.46 billion. During the same period in the prior year, the company earned $1.95 earnings per share. The business’s revenue was up 11.9% compared to the same quarter last year. As a group, analysts expect that Travelers Companies will post 18.84 earnings per share for the current year.

Travelers Companies Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Tuesday, December 10th were given a dividend of $1.05 per share. The ex-dividend date was Tuesday, December 10th. This represents a $4.20 dividend on an annualized basis and a yield of 1.73%. Travelers Companies’s dividend payout ratio (DPR) is currently 21.54%.

Insider Buying and Selling at Travelers Companies

In other news, CEO Alan D. Schnitzer sold 40,524 shares of the firm’s stock in a transaction on Monday, October 21st. The shares were sold at an average price of $260.12, for a total value of $10,541,102.88. Following the transaction, the chief executive officer now owns 221,924 shares of the company’s stock, valued at approximately $57,726,870.88. This trade represents a 15.44 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Diane Kurtzman sold 3,941 shares of the firm’s stock in a transaction on Monday, October 21st. The shares were sold at an average price of $260.45, for a total transaction of $1,026,433.45. Following the completion of the transaction, the executive vice president now directly owns 1,715 shares in the company, valued at approximately $446,671.75. This represents a 69.68 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 78,149 shares of company stock worth $20,295,856 in the last quarter. 1.33% of the stock is owned by insiders.

Hedge Funds Weigh In On Travelers Companies

A number of hedge funds have recently made changes to their positions in TRV. Y.D. More Investments Ltd purchased a new stake in Travelers Companies during the 2nd quarter worth $25,000. Wolff Wiese Magana LLC increased its stake in Travelers Companies by 39.1% during the 3rd quarter. Wolff Wiese Magana LLC now owns 160 shares of the insurance provider’s stock worth $37,000 after buying an additional 45 shares during the period. True Wealth Design LLC purchased a new stake in Travelers Companies during the 3rd quarter worth $41,000. Catalyst Capital Advisors LLC purchased a new stake in Travelers Companies during the 3rd quarter worth $50,000. Finally, Versant Capital Management Inc increased its stake in Travelers Companies by 581.1% during the 4th quarter. Versant Capital Management Inc now owns 252 shares of the insurance provider’s stock worth $61,000 after buying an additional 215 shares during the period. Hedge funds and other institutional investors own 82.45% of the company’s stock.

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.