Wells Fargo & Company Forecasts Strong Price Appreciation for Travelers Companies (NYSE:TRV) Stock

Travelers Companies (NYSE:TRV) had its target price hoisted by equities researchers at Wells Fargo & Company from $213.00 to $225.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm presently has an “underweight” rating on the insurance provider’s stock. Wells Fargo & Company‘s price objective would suggest a potential downside of 7.46% from the stock’s previous close.

A number of other equities research analysts have also recently weighed in on TRV. BMO Capital Markets raised their price target on Travelers Companies from $233.00 to $270.00 and gave the company an “outperform” rating in a report on Tuesday, October 22nd. Piper Sandler dropped their price target on Travelers Companies from $280.00 to $259.00 and set a “neutral” rating for the company in a report on Monday, January 6th. Hsbc Global Res raised Travelers Companies from a “hold” rating to a “strong-buy” rating in a report on Tuesday, December 10th. Janney Montgomery Scott cut Travelers Companies from a “buy” rating to a “neutral” rating and set a $280.00 price target for the company. in a report on Thursday, November 21st. Finally, Roth Mkm lifted their target price on Travelers Companies from $240.00 to $300.00 and gave the company a “buy” rating in a research note on Monday, October 21st. Four research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Travelers Companies has a consensus rating of “Hold” and an average target price of $255.79.

Travelers Companies Price Performance

Shares of TRV stock opened at $243.13 on Thursday. The stock has a 50 day moving average of $248.61 and a two-hundred day moving average of $236.77. The company has a current ratio of 0.34, a quick ratio of 0.34 and a debt-to-equity ratio of 0.29. Travelers Companies has a 12 month low of $200.21 and a 12 month high of $269.55. The company has a market capitalization of $55.20 billion, a P/E ratio of 12.50, a P/E/G ratio of 1.05 and a beta of 0.65.

Travelers Companies (NYSE:TRV) last issued its earnings results on Wednesday, January 22nd. The insurance provider reported $9.15 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $6.50 by $2.65. Travelers Companies had a return on equity of 17.69% and a net margin of 10.02%. The business had revenue of $12.01 billion during the quarter, compared to analysts’ expectations of $10,795,375 billion. During the same period in the prior year, the firm posted $7.01 EPS. Travelers Companies’s quarterly revenue was up 9.9% compared to the same quarter last year. As a group, equities analysts expect that Travelers Companies will post 19 EPS for the current year.

Insider Transactions at Travelers Companies

In other Travelers Companies news, EVP Andy F. Bessette sold 4,520 shares of Travelers Companies stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $253.46, for a total transaction of $1,145,639.20. Following the transaction, the executive vice president now directly owns 16,976 shares in the company, valued at approximately $4,302,736.96. The trade was a 21.03 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Vice Chairman William H. Heyman sold 3,740 shares of Travelers Companies stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $264.80, for a total value of $990,352.00. Following the transaction, the insider now owns 250,384 shares in the company, valued at approximately $66,301,683.20. This represents a 1.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 18,670 shares of company stock worth $4,861,329 in the last three months. Insiders own 1.33% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. FMR LLC lifted its holdings in shares of Travelers Companies by 12.6% in the third quarter. FMR LLC now owns 14,048,691 shares of the insurance provider’s stock valued at $3,289,079,000 after purchasing an additional 1,568,909 shares in the last quarter. International Assets Investment Management LLC increased its position in shares of Travelers Companies by 23,378.8% in the third quarter. International Assets Investment Management LLC now owns 520,291 shares of the insurance provider’s stock valued at $121,811,000 after acquiring an additional 518,075 shares during the last quarter. Bank of Montreal Can increased its position in shares of Travelers Companies by 66.9% in the third quarter. Bank of Montreal Can now owns 705,793 shares of the insurance provider’s stock valued at $166,645,000 after acquiring an additional 282,884 shares during the last quarter. Point72 Asset Management L.P. acquired a new position in Travelers Companies during the third quarter worth approximately $54,988,000. Finally, Janus Henderson Group PLC increased its position in Travelers Companies by 216.3% during the third quarter. Janus Henderson Group PLC now owns 339,901 shares of the insurance provider’s stock worth $79,582,000 after buying an additional 232,428 shares during the last quarter. 82.45% of the stock is currently owned by 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.