Wells Fargo & Company Has Lowered Expectations for Travelers Companies (NYSE:TRV) Stock Price

by · The Markets Daily

Travelers Companies (NYSE:TRV – Get Free Report) had its target price reduced by Wells Fargo & Company from $356.00 to $341.00 in a research report issued to clients and investors on Monday, Benzinga reports. The brokerage currently has an “equal weight” rating on the insurance provider’s stock. Wells Fargo & Company‘s price target indicates a potential downside of 8.62% from the stock’s previous close.

Other equities research analysts have also recently issued research reports about the company. Piper Sandler increased their target price on Travelers Companies to $340.00 and gave the company an “overweight” rating in a report on Monday, July 13th. Morgan Stanley boosted their price target on Travelers Companies from $290.00 to $330.00 and gave the stock an “underweight” rating in a report on Tuesday, July 21st. The Goldman Sachs Group downgraded Travelers Companies from a “neutral” rating to a “sell” rating and set a $350.00 price objective on the stock. in a research report on Monday, July 20th. Zacks Research upgraded Travelers Companies from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, July 29th. Finally, Cantor Fitzgerald increased their price objective on Travelers Companies from $377.00 to $378.00 and gave the company an “overweight” rating in a research note on Wednesday, October 7th. Three equities research analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating, thirteen have assigned a Hold rating and five have issued a Sell rating to the company’s stock. According to data from MarketBeat, Travelers Companies currently has a consensus rating of “Hold” and an average target price of $357.26.

Check Out Our Latest Stock Report on TRV

Travelers Companies Stock Up 0.4%

Shares of NYSE TRV opened at $373.18 on Monday. The firm’s 50-day moving average is $369.04 and its two-hundred day moving average is $335.83. The company has a market capitalization of $77.83 billion, a PE ratio of 10.04, a price-to-earnings-growth ratio of 3.04 and a beta of 0.43. Travelers Companies has a 12-month low of $252.26 and a 12-month high of $398.70. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.33 and a quick ratio of 0.33.

Travelers Companies (NYSE:TRV – Get Free Report) last issued its quarterly earnings data on Friday, July 17th. The insurance provider reported $10.04 earnings per share for the quarter, topping analysts’ consensus estimates of $5.41 by $4.63. Travelers Companies had a net margin of 16.95% and a return on equity of 25.41%. The business had revenue of $12.15 billion during the quarter, compared to analysts’ expectations of $11.26 billion. During the same period last year, the company posted $6.51 EPS. The company’s revenue was up .3% on a year-over-year basis. Equities analysts anticipate that Travelers Companies will post 34.22 EPS for the current fiscal year.

Insider Activity

In other Travelers Companies news, EVP Maria Olivo sold 6,000 shares of Travelers Companies stock in a transaction that occurred on Friday, August 28th. The shares were sold at an average price of $369.86, for a total value of $2,219,160.00. Following the completion of the sale, the executive vice president directly owned 118,742 shares of the company’s stock, valued at approximately $43,917,916.12. The trade was a 4.81% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Michael Klein sold 6,000 shares of Travelers Companies stock in a transaction that occurred on Tuesday, July 21st. The stock was sold at an average price of $366.09, for a total transaction of $2,196,540.00. Following the completion of the sale, the executive vice president directly owned 45,125 shares of the company’s stock, valued at $16,519,811.25. The trade was a 11.74% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 58,667 shares of company stock valued at $21,830,989 in the last 90 days. Insiders own 1.39% of the company’s stock.

Institutional Investors Weigh In On Travelers Companies

Hedge funds and other institutional investors have recently made changes to their positions in the business. BlackRock Inc. purchased a new stake in Travelers Companies in the 2nd quarter valued at $6,915,909,000. Dimensional Fund Advisors LP grew its position in Travelers Companies by 3.7% during the 1st quarter. Dimensional Fund Advisors LP now owns 3,484,676 shares of the insurance provider’s stock worth $1,016,433,000 after purchasing an additional 123,564 shares during the last quarter. Bank of America Corp DE acquired a new position in Travelers Companies in the second quarter valued at $932,142,000. GQG Partners LLC acquired a new position in Travelers Companies in the second quarter valued at $789,024,000. Finally, First Trust Advisors LP increased its stake in Travelers Companies by 7.2% in the first quarter. First Trust Advisors LP now owns 1,705,401 shares of the insurance provider’s stock valued at $497,431,000 after purchasing an additional 115,276 shares during the period. Hedge funds and other institutional investors own 82.45% of the company’s stock.

More Travelers Companies News

Here are the key news stories impacting Travelers Companies this week:

  • Positive Sentiment: Travelers enters the third-quarter earnings season with a positive Earnings ESP, raising the possibility of another earnings beat despite estimates calling for lower revenue and profit. The company also has a history of outperforming consensus expectations, including a substantial EPS beat in its latest reported quarter. Can Travelers Retain Its Surprise Streak This Earnings Season?
  • Positive Sentiment: Travelers is being highlighted as a value stock, supported by a relatively low earnings multiple and solid fundamental characteristics. Higher interest rates also continue to benefit insurers by increasing investment income on premium reserves. Here’s Why Travelers Is a Strong Value Stock
  • Neutral Sentiment: KBW and Wells Fargo reiterated Hold or Equal Weight views, signaling that analysts see limited near-term upside but are not broadly recommending an outright exit. KBW Reaffirms Its Hold Rating for Travelers
  • Negative Sentiment: Wells Fargo lowered its Travelers price target from $356 to $341, implying meaningful downside from the recent trading level while maintaining an Equal Weight rating. Travelers Price Target Lowered at Wells Fargo
  • Negative Sentiment: Bank of America Securities maintained its Sell rating, reinforcing concerns that the stock’s valuation or earnings outlook may be stretched. Bank of America Maintains Sell Rating for Travelers

About Travelers Companies

(Get Free Report)

Travelers Companies, Inc is an insurance provider that offers property and casualty coverage to individuals, businesses and organizations. The company operates through three primary segments: Personal Insurance, Business Insurance, and Bond & Specialty Insurance.

Its products and services include automobile and homeowners insurance, workers’ compensation, commercial property and casualty coverage, general and professional liability insurance, surety and fidelity bonds, and specialized insurance solutions for industries and businesses with complex risks.

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