Wells Fargo & Company Issues Positive Forecast for Travelers Companies (NYSE:TRV) Stock Price

Travelers Companies (NYSE:TRV) had its target price boosted by Wells Fargo & Company from $247.00 to $260.00 in a report released on Thursday morning,Benzinga reports. Wells Fargo & Company currently has an equal weight rating on the insurance provider’s stock.

TRV has been the subject of a number of other research reports. HSBC cut shares of Travelers Companies from a “buy” rating to a “hold” rating and set a $270.00 price objective for the company. in a research note on Monday, March 24th. UBS Group cut their price target on shares of Travelers Companies from $270.00 to $267.00 and set a “neutral” rating for the company in a research report on Wednesday, April 9th. The Goldman Sachs Group upgraded Travelers Companies from a “sell” rating to a “buy” rating and set a $278.00 price objective on the stock in a report on Wednesday, January 8th. BMO Capital Markets increased their target price on Travelers Companies from $275.00 to $297.00 and gave the company an “outperform” rating in a report on Friday, January 24th. Finally, Piper Sandler raised Travelers Companies from a “neutral” rating to an “overweight” rating and lifted their price target for the stock from $259.00 to $310.00 in a research note on Friday, January 24th. Three investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $267.32.

Travelers Companies Stock Up 1.4 %

TRV opened at $256.05 on Thursday. The company has a quick ratio of 0.33, a current ratio of 0.33 and a debt-to-equity ratio of 0.29. The business’s fifty day simple moving average is $252.15 and its 200 day simple moving average is $249.22. Travelers Companies has a 52 week low of $200.21 and a 52 week high of $269.56. The stock has a market cap of $58.05 billion, a PE ratio of 11.93, a P/E/G ratio of 4.65 and a beta of 0.48.

Travelers Companies (NYSE:TRV) last announced its quarterly earnings data on Wednesday, April 16th. The insurance provider reported $1.91 earnings per share for the quarter, beating analysts’ consensus estimates of $0.53 by $1.38. The company had revenue of $10.52 billion for the quarter, compared to analysts’ expectations of $10.97 billion. Travelers Companies had a return on equity of 19.06% and a net margin of 10.77%. During the same period last year, the firm posted $4.69 EPS. As a group, research analysts expect that Travelers Companies will post 17.02 earnings per share for the current fiscal year.

Travelers Companies Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Tuesday, June 10th will be given a dividend of $1.10 per share. The ex-dividend date is Tuesday, June 10th. This is a positive change from Travelers Companies’s previous quarterly dividend of $1.05. This represents a $4.40 annualized dividend and a dividend yield of 1.72%. Travelers Companies’s payout ratio is currently 23.95%.

Hedge Funds Weigh In On Travelers Companies

A number of institutional investors have recently added to or reduced their stakes in TRV. Bank of America Corp DE grew its position in shares of Travelers Companies by 236.9% in the 4th quarter. Bank of America Corp DE now owns 3,507,219 shares of the insurance provider’s stock worth $844,854,000 after buying an additional 2,466,098 shares during the period. Norges Bank bought a new stake in Travelers Companies during the fourth quarter worth about $560,918,000. GAMMA Investing LLC grew its holdings in Travelers Companies by 31,132.9% in the first quarter. GAMMA Investing LLC now owns 2,203,481 shares of the insurance provider’s stock worth $582,733,000 after purchasing an additional 2,196,426 shares during the period. Balyasny Asset Management L.P. increased its stake in shares of Travelers Companies by 153.8% during the fourth quarter. Balyasny Asset Management L.P. now owns 1,497,339 shares of the insurance provider’s stock valued at $360,694,000 after purchasing an additional 907,266 shares in the last quarter. Finally, Raymond James Financial Inc. purchased a new position in shares of Travelers Companies during the fourth quarter valued at approximately $138,619,000. 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.