JPMorgan Chase & Co. Boosts Travelers Companies (NYSE:TRV) Price Target to $271.00

Travelers Companies (NYSE:TRV) had its price objective increased by research analysts at JPMorgan Chase & Co. from $260.00 to $271.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The brokerage currently has an “underweight” rating on the insurance provider’s stock. JPMorgan Chase & Co.‘s price target indicates a potential upside of 8.98% from the company’s previous close.

Several other brokerages have also recently issued reports on TRV. The Goldman Sachs Group upgraded Travelers Companies from a “sell” rating to a “buy” rating and set a $278.00 price objective for the company in a research note on Wednesday, January 8th. Piper Sandler raised Travelers Companies from a “neutral” rating to an “overweight” rating and raised their price objective for the company from $259.00 to $310.00 in a report on Friday, January 24th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $268.00 price target (down from $273.00) on shares of Travelers Companies in a research note on Thursday, January 23rd. Barclays lifted their price target on Travelers Companies from $278.00 to $287.00 and gave the stock an “overweight” rating in a research note on Friday, January 24th. Finally, HSBC lowered Travelers Companies from a “buy” rating to a “hold” rating and set a $270.00 price objective on the stock. in a research note on Monday, March 24th. Three analysts have rated the stock with a sell rating, thirteen have given a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $261.89.

Travelers Companies Price Performance

Shares of TRV stock opened at $248.68 on Tuesday. The stock’s 50-day moving average is $251.57 and its 200 day moving average is $248.74. The company has a debt-to-equity ratio of 0.29, a current ratio of 0.33 and a quick ratio of 0.33. Travelers Companies has a 1-year low of $200.21 and a 1-year high of $269.56. The company has a market cap of $56.38 billion, a P/E ratio of 11.58, a PEG ratio of 4.65 and a beta of 0.48.

Travelers Companies (NYSE:TRV) last released its quarterly earnings results on Wednesday, January 22nd. The insurance provider reported $9.15 EPS for the quarter, beating analysts’ consensus estimates of $6.50 by $2.65. Travelers Companies had a return on equity of 19.06% and a net margin of 10.77%. The company had revenue of $12.01 billion during the quarter, compared to analysts’ expectations of $10.80 billion. During the same period last year, the business posted $7.01 earnings per share. The firm’s revenue was up 9.9% compared to the same quarter last year. Research analysts predict that Travelers Companies will post 17.02 earnings per share for the current fiscal year.

Institutional Trading of Travelers Companies

Large investors have recently made changes to their positions in the company. Quantinno Capital Management LP raised its stake in Travelers Companies by 34.9% during the 3rd quarter. Quantinno Capital Management LP now owns 13,232 shares of the insurance provider’s stock valued at $3,098,000 after acquiring an additional 3,422 shares during the last quarter. EP Wealth Advisors LLC raised its holdings in Travelers Companies by 117.6% during the third quarter. EP Wealth Advisors LLC now owns 6,129 shares of the insurance provider’s stock worth $1,435,000 after purchasing an additional 3,312 shares during the last quarter. Zacks Investment Management purchased a new position in Travelers Companies during the third quarter worth $221,000. Orion Portfolio Solutions LLC increased its position in Travelers Companies by 34.6% during the third quarter. Orion Portfolio Solutions LLC now owns 18,144 shares of the insurance provider’s stock worth $4,248,000 after buying an additional 4,665 shares in the last quarter. Finally, MML Investors Services LLC increased its position in Travelers Companies by 1.2% during the third quarter. MML Investors Services LLC now owns 20,565 shares of the insurance provider’s stock worth $4,815,000 after buying an additional 237 shares in the last quarter. 82.45% of the stock is owned by institutional investors and hedge funds.

Travelers Companies Company Profile

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.