Travelers Companies (TRV) Upgraded at Bank of America

Travelers Companies (NYSE:TRV) was upgraded by Bank of America from a “neutral” rating to a “buy” rating in a report released on Tuesday, Marketbeat Ratings reports.

A number of other brokerages have also recently issued reports on TRV. Goldman Sachs Group began coverage on shares of Travelers Companies in a report on Monday, December 4th. They set a “sell” rating and a $124.00 price objective for the company. Keefe, Bruyette & Woods reiterated a “buy” rating and set a $152.00 price objective on shares of Travelers Companies in a report on Wednesday, December 6th. Royal Bank of Canada reiterated a “buy” rating and set a $148.00 price objective on shares of Travelers Companies in a report on Friday, December 8th. B. Riley reiterated a “neutral” rating on shares of Travelers Companies in a report on Monday, November 6th. Finally, Argus lifted their price objective on shares of Travelers Companies from $139.00 to $145.00 and gave the company a “positive” rating in a report on Monday, October 23rd. They noted that the move was a valuation call. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating and nine have given a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $134.38.

Travelers Companies (TRV) traded up $1.78 during trading hours on Tuesday, reaching $133.23. 795,992 shares of the company’s stock were exchanged, compared to its average volume of 1,475,920. The company has a debt-to-equity ratio of 0.29, a current ratio of 0.41 and a quick ratio of 0.41. The firm has a market capitalization of $36,010.00, a PE ratio of 15.42, a price-to-earnings-growth ratio of 1.81 and a beta of 1.25. Travelers Companies has a 1-year low of $113.76 and a 1-year high of $137.95.

Travelers Companies (NYSE:TRV) last posted its quarterly earnings results on Thursday, October 19th. The insurance provider reported $0.91 EPS for the quarter, missing analysts’ consensus estimates of $2.10 by ($1.19). The company had revenue of $6.66 billion during the quarter, compared to analyst estimates of $6.46 billion. Travelers Companies had a return on equity of 9.87% and a net margin of 8.56%. The company’s revenue for the quarter was up 4.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.40 earnings per share. research analysts forecast that Travelers Companies will post 6.64 EPS for the current year.

Travelers Companies declared that its board has authorized a share repurchase plan on Monday, September 11th that permits the company to buyback outstanding shares. This buyback authorization permits the insurance provider to purchase shares of its stock through open market purchases. Shares buyback plans are typically a sign that the company’s board of directors believes its shares are undervalued.

In other Travelers Companies news, EVP Maria Olivo sold 33,225 shares of Travelers Companies stock in a transaction dated Wednesday, November 29th. The shares were sold at an average price of $134.18, for a total value of $4,458,130.50. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Michael Frederick Klein sold 20,077 shares of Travelers Companies stock in a transaction dated Tuesday, November 21st. The stock was sold at an average price of $130.68, for a total transaction of $2,623,662.36. Following the completion of the sale, the executive vice president now directly owns 21,619 shares in the company, valued at approximately $2,825,170.92. The disclosure for this sale can be found here. Insiders have sold 55,302 shares of company stock worth $7,347,753 over the last three months. 0.82% of the stock is owned by insiders.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Balyasny Asset Management LLC grew its stake in Travelers Companies by 2,272.4% in the 2nd quarter. Balyasny Asset Management LLC now owns 1,471,130 shares of the insurance provider’s stock worth $186,142,000 after buying an additional 1,409,121 shares in the last quarter. FIL Ltd bought a new stake in shares of Travelers Companies in the 2nd quarter worth approximately $161,641,000. Janus Henderson Group PLC lifted its holdings in shares of Travelers Companies by 3,559.7% in the 2nd quarter. Janus Henderson Group PLC now owns 1,305,445 shares of the insurance provider’s stock worth $165,178,000 after acquiring an additional 1,269,774 shares during the last quarter. Robeco Institutional Asset Management B.V. bought a new stake in shares of Travelers Companies in the 3rd quarter worth approximately $78,058,000. Finally, Parametric Portfolio Associates LLC lifted its holdings in shares of Travelers Companies by 62.0% in the 2nd quarter. Parametric Portfolio Associates LLC now owns 1,558,999 shares of the insurance provider’s stock worth $197,260,000 after acquiring an additional 596,361 shares during the last quarter. 78.49% of the stock is currently owned by institutional investors.

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Travelers Companies Company Profile

The Travelers Companies, Inc is a holding company. The Company’s segments include Business and International Insurance; Bond & Specialty Insurance, and Personal Insurance. Through its subsidiaries, it provides commercial and personal property and casualty insurance products and services. The Business and International Insurance segment offers property and casualty insurance and insurance related services to its clients, in the United States and in Canada, as well as in the United Kingdom, the Republic of Ireland, Brazil and throughout other parts of the world.

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