JPMorgan Chase & Co. Forecasts Strong Price Appreciation for Travelers Companies (NYSE:TRV) Stock

by · The Cerbat Gem

Travelers Companies (NYSE:TRV – Get Free Report) had its target price boosted by equities researchers at JPMorgan Chase & Co. from $302.00 to $305.00 in a report issued on Wednesday,Benzinga reports. The brokerage currently has an “underweight” rating on the insurance provider’s stock. JPMorgan Chase & Co.‘s target price indicates a potential upside of 6.72% from the company’s current price.

TRV has been the topic of several other reports. The Goldman Sachs Group restated a “buy” rating on shares of Travelers Companies in a research report on Friday, October 17th. Evercore ISI restated an “outperform” rating and set a $317.00 target price on shares of Travelers Companies in a report on Wednesday. Weiss Ratings reiterated a “buy (b+)” rating on shares of Travelers Companies in a research note on Monday, December 29th. Piper Sandler lifted their price target on shares of Travelers Companies from $320.00 to $322.00 and gave the company an “overweight” rating in a research report on Friday, October 17th. Finally, Morgan Stanley upped their price objective on shares of Travelers Companies from $285.00 to $295.00 and gave the stock an “equal weight” rating in a report on Monday, November 17th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, twelve have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $296.81.

Check Out Our Latest Stock Analysis on Travelers Companies

Travelers Companies Trading Up 0.2%

Shares of NYSE:TRV traded up $0.60 on Wednesday, hitting $285.79. The company had a trading volume of 293,611 shares, compared to its average volume of 1,135,170. The firm’s 50-day simple moving average is $285.83 and its two-hundred day simple moving average is $274.73. The firm has a market capitalization of $63.75 billion, a price-to-earnings ratio of 11.24, a P/E/G ratio of 2.65 and a beta of 0.52. The company has a quick ratio of 0.35, a current ratio of 0.35 and a debt-to-equity ratio of 0.29. Travelers Companies has a 1 year low of $230.23 and a 1 year high of $296.85.

Travelers Companies (NYSE:TRV – Get Free Report) last released its quarterly earnings results on Thursday, October 16th. The insurance provider reported $8.14 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $6.01 by $2.13. The company had revenue of $12.47 billion during the quarter, compared to the consensus estimate of $11.15 billion. Travelers Companies had a net margin of 12.14% and a return on equity of 20.28%. Travelers Companies’s revenue was up 4.8% on a year-over-year basis. During the same period in the prior year, the firm earned $5.24 earnings per share. Equities analysts anticipate that Travelers Companies will post 17.02 earnings per share for the current fiscal year.

Insider Activity at Travelers Companies

In other Travelers Companies news, EVP Michael Frederick Klein sold 8,572 shares of the firm’s stock in a transaction dated Tuesday, October 28th. The stock was sold at an average price of $270.73, for a total value of $2,320,697.56. Following the transaction, the executive vice president directly owned 33,638 shares of the company’s stock, valued at approximately $9,106,815.74. This trade represents a 20.31% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Vice Chairman William H. Heyman sold 1,803 shares of the stock in a transaction that occurred on Thursday, November 13th. The stock was sold at an average price of $289.55, for a total transaction of $522,058.65. Following the completion of the transaction, the insider owned 255,086 shares in the company, valued at $73,860,151.30. This trade represents a 0.70% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 46,295 shares of company stock worth $13,011,918. Company insiders own 1.46% of the company’s stock.

Institutional Trading of Travelers Companies

Hedge funds and other institutional investors have recently modified their holdings of the company. Valeo Financial Advisors LLC increased its position in Travelers Companies by 71,265.9% in the second quarter. Valeo Financial Advisors LLC now owns 3,616,826 shares of the insurance provider’s stock worth $967,646,000 after purchasing an additional 3,611,758 shares during the last quarter. Norges Bank purchased a new position in Travelers Companies in the second quarter worth about $815,013,000. JPMorgan Chase & Co. increased its stake in Travelers Companies by 10.9% during the second quarter. JPMorgan Chase & Co. now owns 7,626,750 shares of the insurance provider’s stock worth $2,040,475,000 after acquiring an additional 751,715 shares during the last quarter. AustralianSuper Pty Ltd bought a new stake in Travelers Companies during the third quarter worth approximately $125,597,000. Finally, Rakuten Investment Management Inc. purchased a new stake in Travelers Companies during the third quarter valued at approximately $112,051,000. 82.45% of the stock is owned by hedge funds and other institutional investors.

About Travelers Companies

(Get Free Report)

The Travelers Companies, Inc (NYSE: TRV) is a leading provider of property and casualty insurance products and services. The company underwrites a broad range of commercial and personal insurance lines, offering coverage designed to protect individuals, small and midsize businesses, and large corporate clients against property loss, liability, and other operational risks. Travelers is known for combining underwriting, claims management and risk control services to help clients prevent losses and recover when incidents occur.

On the commercial side, Travelers writes primary and specialty coverages including property, general liability, commercial auto, workers’ compensation, professional and management liability, surety and inland marine.

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