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

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

Other research analysts have also recently issued research reports about the stock. HSBC cut shares of Travelers Companies from a “buy” rating to a “hold” rating and set a $270.00 target price on the stock. in a report on Monday, March 24th. Royal Bank of Canada restated a “sector perform” rating and issued a $268.00 target price (down previously from $273.00) on shares of Travelers Companies in a report on Thursday, January 23rd. BMO Capital Markets lifted their price target on shares of Travelers Companies from $275.00 to $297.00 and gave the company an “outperform” rating in a report on Friday, January 24th. Barclays lifted their price target on shares of Travelers Companies from $278.00 to $287.00 and gave the company an “overweight” rating in a report on Friday, January 24th. Finally, The Goldman Sachs Group upgraded shares of Travelers Companies from a “sell” rating to a “buy” rating and set a $278.00 price target on the stock in a report on Wednesday, January 8th. Three equities research 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. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $261.89.

Travelers Companies Trading Up 5.1 %

Shares of Travelers Companies stock opened at $248.68 on Tuesday. The company’s 50-day moving average price is $251.57 and its 200-day moving average price is $248.74. The company has a market cap of $56.38 billion, a price-to-earnings ratio of 11.58, a PEG ratio of 4.65 and a beta of 0.48. The company has a current ratio of 0.33, a quick ratio of 0.33 and a debt-to-equity ratio of 0.29. Travelers Companies has a 12-month low of $200.21 and a 12-month high of $269.56.

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

Institutional Trading of Travelers Companies

Hedge funds have recently modified their holdings of the company. Yoffe Investment Management LLC purchased a new stake in shares of Travelers Companies during the 4th quarter worth approximately $1,202,000. Elevate Capital Advisors LLC purchased a new stake in Travelers Companies during the 4th quarter valued at $4,627,000. Erste Asset Management GmbH raised its holdings in Travelers Companies by 1.0% during the 4th quarter. Erste Asset Management GmbH now owns 10,000 shares of the insurance provider’s stock valued at $2,414,000 after buying an additional 100 shares during the period. Franklin Resources Inc. raised its holdings in Travelers Companies by 39.5% during the 3rd quarter. Franklin Resources Inc. now owns 135,957 shares of the insurance provider’s stock valued at $32,646,000 after buying an additional 38,515 shares during the period. Finally, Orion Portfolio Solutions LLC raised its holdings in Travelers Companies by 34.6% during the 3rd quarter. Orion Portfolio Solutions LLC now owns 18,144 shares of the insurance provider’s stock valued at $4,248,000 after buying an additional 4,665 shares during the period. 82.45% of the stock is owned by hedge funds and other institutional investors.

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.