Wells Fargo & Company Upgrades Travelers Companies (NYSE:TRV) to Equal Weight

Wells Fargo & Company upgraded shares of Travelers Companies (NYSE:TRV - Free Report) from an underweight rating to an equal weight rating in a report issued on Wednesday morning, MarketBeat.com reports. Wells Fargo & Company currently has $247.00 target price on the insurance provider's stock, up from their prior target price of $225.00.

Several other research firms also recently commented on TRV. Hsbc Global Res downgraded shares of Travelers Companies from a "strong-buy" rating to a "hold" rating in a report on Monday, March 24th. BMO Capital Markets raised their target price on shares of Travelers Companies from $275.00 to $297.00 and gave the stock an "outperform" rating in a report on Friday, January 24th. JPMorgan Chase & Co. boosted their price objective on Travelers Companies from $260.00 to $271.00 and gave the company an "underweight" rating in a report on Tuesday, April 8th. Piper Sandler upgraded shares of Travelers Companies from a "neutral" rating to an "overweight" rating and upped their target price for the stock from $259.00 to $310.00 in a research note on Friday, January 24th. Finally, Barclays lifted their price objective on Travelers Companies from $278.00 to $287.00 and gave the company an "overweight" rating in a report on Friday, January 24th. Three equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, Travelers Companies presently has a consensus rating of "Hold" and an average price target of $263.37.

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Travelers Companies Stock Performance

TRV stock traded up $5.40 during midday trading on Wednesday, reaching $250.53. 258,619 shares of the company's stock traded hands, compared to its average volume of 1,300,637. The company has a current ratio of 0.33, a quick ratio of 0.33 and a debt-to-equity ratio of 0.29. The stock has a market cap of $56.80 billion, a P/E ratio of 11.67, a PEG ratio of 4.65 and a beta of 0.48. Travelers Companies has a 52-week low of $200.21 and a 52-week high of $269.56. The stock's 50-day moving average is $251.59 and its 200 day moving average is $248.93.

Travelers Companies (NYSE:TRV - Get Free Report) last released its earnings results on Wednesday, January 22nd. The insurance provider reported $9.15 EPS for the quarter, topping analysts' consensus estimates of $6.50 by $2.65. Travelers Companies had a net margin of 10.77% and a return on equity of 19.06%. The company had revenue of $12.01 billion for the quarter, compared to analysts' expectations of $10.80 billion. During the same quarter last year, the business earned $7.01 EPS. The firm's revenue was up 9.9% compared to the same quarter last year. As a group, analysts anticipate that Travelers Companies will post 17.02 EPS for the current year.

Travelers Companies Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Monday, March 10th were issued a dividend of $1.05 per share. The ex-dividend date was Monday, March 10th. This represents a $4.20 annualized dividend and a dividend yield of 1.68%. Travelers Companies's dividend payout ratio (DPR) is currently 19.56%.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Bank of America Corp DE grew its holdings in shares of Travelers Companies by 236.9% during the fourth quarter. Bank of America Corp DE now owns 3,507,219 shares of the insurance provider's stock valued at $844,854,000 after buying an additional 2,466,098 shares during the last quarter. Norges Bank acquired a new stake in Travelers Companies during the 4th quarter worth about $560,918,000. GAMMA Investing LLC grew its stake in Travelers Companies by 31,132.9% during the 1st quarter. GAMMA Investing LLC now owns 2,203,481 shares of the insurance provider's stock valued at $582,733,000 after purchasing an additional 2,196,426 shares during the last quarter. Balyasny Asset Management L.P. increased its holdings in shares of Travelers Companies by 153.8% in 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 during the period. Finally, Raymond James Financial Inc. purchased a new position in shares of Travelers Companies in the fourth quarter worth about $138,619,000. Institutional investors and hedge funds own 82.45% of the company's stock.

Travelers Companies Company Profile

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.