Wells Fargo & Company Increases Travelers Companies (NYSE:TRV) Price Target to $185.00

Posted by Defense World Staff on Jul 22nd, 2023

Travelers Companies (NYSE:TRV – Get Free Report) had its price target upped by analysts at Wells Fargo & Company from $183.00 to $185.00 in a research note issued to investors on Thursday. Wells Fargo & Company‘s target price would indicate a potential upside of 7.02% from the stock’s current price.

Other equities analysts also recently issued research reports about the stock. Barclays lifted their price target on shares of Travelers Companies from $179.00 to $185.00 in a report on Thursday, April 20th. Roth Capital reiterated a “buy” rating on shares of Travelers Companies in a research note on Friday, April 21st. Morgan Stanley started coverage on Travelers Companies in a research report on Tuesday, June 20th. They issued an “equal weight” rating and a $185.00 price objective on the stock. Citigroup increased their target price on Travelers Companies from $182.00 to $186.00 and gave the stock a “neutral” rating in a research report on Friday, April 21st. Finally, Piper Sandler lowered their price target on Travelers Companies from $208.00 to $176.00 in a report on Thursday, July 6th. Nine investment analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $193.77.

Travelers Companies Trading Down 0.4 %

Shares of TRV stock opened at $172.87 on Thursday. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.33 and a quick ratio of 0.33. The company has a market cap of $39.93 billion, a price-to-earnings ratio of 14.74, a PEG ratio of 1.27 and a beta of 0.60. Travelers Companies has a 1 year low of $149.65 and a 1 year high of $194.51. The firm has a fifty day moving average price of $174.17 and a 200-day moving average price of $178.29.

Travelers Companies (NYSE:TRV – Get Free Report) last released its quarterly earnings results on Thursday, July 20th. The insurance provider reported $0.06 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.05 by ($1.99). Travelers Companies had a net margin of 7.41% and a return on equity of 13.41%. The company had revenue of $10.10 billion for the quarter, compared to the consensus estimate of $9.97 billion. During the same period in the prior year, the firm posted $2.57 EPS. The business’s revenue for the quarter was up 10.5% on a year-over-year basis. As a group, equities analysts predict that Travelers Companies will post 14.12 earnings per share for the current year.

Travelers Companies announced that its Board of Directors has authorized a stock buyback program on Wednesday, April 19th that authorizes the company to buyback $5.00 billion in outstanding shares. This buyback authorization authorizes the insurance provider to purchase up to 12.2% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s board of directors believes its stock is undervalued.

Insider Activity

In other news, EVP Andy F. Bessette sold 11,572 shares of the business’s stock in a transaction that occurred on Tuesday, April 25th. The stock was sold at an average price of $178.14, for a total transaction of $2,061,436.08. Following the transaction, the executive vice president now owns 17,361 shares of the company’s stock, valued at approximately $3,092,688.54. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, EVP Michael Frederick Klein sold 10,246 shares of the company’s stock in a transaction dated Wednesday, May 10th. The shares were sold at an average price of $182.85, for a total transaction of $1,873,481.10. Following the transaction, the executive vice president now directly owns 14,080 shares in the company, valued at approximately $2,574,528. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Andy F. Bessette sold 11,572 shares of the firm’s stock in a transaction dated Tuesday, April 25th. The stock was sold at an average price of $178.14, for a total transaction of $2,061,436.08. Following the completion of the sale, the executive vice president now directly owns 17,361 shares of the company’s stock, valued at approximately $3,092,688.54. The disclosure for this sale can be found here. Corporate insiders own 1.29% of the company’s stock.

Institutional Investors Weigh In On Travelers Companies

Hedge funds and other institutional investors have recently modified their holdings of the business. Envestnet Asset Management Inc. increased its stake in Travelers Companies by 569.0% in the first quarter. Envestnet Asset Management Inc. now owns 2,579,476 shares of the insurance provider’s stock worth $60,732,000 after purchasing an additional 2,193,923 shares during the period. Norges Bank bought a new stake in Travelers Companies during the 4th quarter valued at about $239,875,000. Price T Rowe Associates Inc. MD boosted its position in Travelers Companies by 11.9% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 7,820,386 shares of the insurance provider’s stock valued at $1,466,244,000 after buying an additional 829,918 shares during the period. Prostatis Group LLC bought a new position in Travelers Companies in the 4th quarter worth about $839,000. Finally, Bahl & Gaynor Inc. increased its position in shares of Travelers Companies by 17,864.0% during the first quarter. Bahl & Gaynor Inc. now owns 698,799 shares of the insurance provider’s stock worth $119,781,000 after acquiring an additional 694,909 shares during the period. 81.06% of the stock is currently owned by hedge funds and other institutional investors.

About Travelers Companies

(Get Free Report)

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. It operates through three segments: Business Insurance, Bond & Specialty Insurance, and Personal Insurance.