Morgan Stanley Boosts Travelers Companies (NYSE:TRV) Price Target to $190.00

Travelers Companies (NYSE:TRVGet Rating) had its price objective boosted by Morgan Stanley from $175.00 to $190.00 in a report released on Tuesday, MarketBeat reports. The brokerage currently has an equal weight rating on the insurance provider’s stock.

A number of other brokerages have also issued reports on TRV. Barclays increased their price target on Travelers Companies from $164.00 to $178.00 and gave the stock an equal weight rating in a research note on Thursday, October 20th. Raymond James increased their price objective on shares of Travelers Companies from $185.00 to $200.00 and gave the company a strong-buy rating in a report on Thursday, October 20th. MKM Partners increased their price target on shares of Travelers Companies from $185.00 to $220.00 and gave the company a buy rating in a report on Tuesday, November 1st. Citigroup increased their price target on shares of Travelers Companies from $179.00 to $181.00 and gave the company a neutral rating in a report on Thursday, October 20th. Finally, StockNews.com lowered shares of Travelers Companies from a buy rating to a hold rating in a research report on Saturday. Two equities research analysts have rated the stock with a sell rating, eleven have given a hold rating, one has given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of Hold and a consensus target price of $178.33.

Travelers Companies Stock Performance

TRV stock opened at $187.13 on Tuesday. The stock has a market capitalization of $43.85 billion, a PE ratio of 13.68, a price-to-earnings-growth ratio of 2.57 and a beta of 0.66. Travelers Companies has a 12-month low of $145.40 and a 12-month high of $188.46. The company has a current ratio of 0.34, a quick ratio of 0.34 and a debt-to-equity ratio of 0.37. The stock’s 50 day simple moving average is $170.12 and its 200 day simple moving average is $168.04.

Travelers Companies (NYSE:TRVGet Rating) last announced its earnings results on Wednesday, October 19th. The insurance provider reported $2.20 earnings per share for the quarter, missing analysts’ consensus estimates of $2.34 by ($0.14). The company had revenue of $9.20 billion for the quarter, compared to analysts’ expectations of $8.58 billion. Travelers Companies had a net margin of 9.26% and a return on equity of 14.31%. Travelers Companies’s quarterly revenue was up 10.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.60 earnings per share. As a group, research analysts forecast that Travelers Companies will post 13.13 earnings per share for the current fiscal year.

Travelers Companies Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 30th. Investors of record on Friday, December 9th will be given a dividend of $0.93 per share. The ex-dividend date of this dividend is Thursday, December 8th. This represents a $3.72 dividend on an annualized basis and a yield of 1.99%. Travelers Companies’s payout ratio is presently 27.19%.

Insider Buying and Selling at Travelers Companies

In other Travelers Companies news, Vice Chairman William H. Heyman sold 1,000 shares of the business’s stock in a transaction dated Tuesday, November 8th. The shares were sold at an average price of $185.50, for a total value of $185,500.00. Following the transaction, the insider now directly owns 251,605 shares in the company, valued at approximately $46,672,727.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Travelers Companies news, EVP Maria Olivo sold 13,516 shares of the stock in a transaction that occurred on Monday, October 24th. The shares were sold at an average price of $179.21, for a total value of $2,422,202.36. Following the sale, the executive vice president now directly owns 98,675 shares of the company’s stock, valued at approximately $17,683,546.75. 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 1,000 shares of the stock in a transaction that occurred on Tuesday, November 8th. The shares were sold at an average price of $185.50, for a total transaction of $185,500.00. Following the completion of the sale, the insider now directly owns 251,605 shares in the company, valued at $46,672,727.50. The disclosure for this sale can be found here. Insiders have sold 46,516 shares of company stock worth $8,461,942 in the last ninety days. 1.07% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Versor Investments LP boosted its stake in Travelers Companies by 26.6% during the 1st quarter. Versor Investments LP now owns 4,245 shares of the insurance provider’s stock worth $776,000 after purchasing an additional 891 shares during the period. Envestnet Asset Management Inc. increased its holdings in shares of Travelers Companies by 3.8% in the 1st quarter. Envestnet Asset Management Inc. now owns 271,416 shares of the insurance provider’s stock valued at $49,596,000 after purchasing an additional 10,025 shares in the last quarter. Northeast Investment Management increased its holdings in shares of Travelers Companies by 22.4% in the 1st quarter. Northeast Investment Management now owns 3,002 shares of the insurance provider’s stock valued at $549,000 after purchasing an additional 550 shares in the last quarter. Commonwealth Equity Services LLC increased its holdings in shares of Travelers Companies by 1.6% in the 1st quarter. Commonwealth Equity Services LLC now owns 108,905 shares of the insurance provider’s stock valued at $19,900,000 after purchasing an additional 1,677 shares in the last quarter. Finally, SlateStone Wealth LLC purchased a new position in shares of Travelers Companies in the 1st quarter valued at about $219,000. 82.39% of the stock is owned by hedge funds and other institutional investors.

Travelers Companies Company Profile

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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.

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Analyst Recommendations for Travelers Companies (NYSE:TRV)

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