Travelers Companies (TRV) Now Covered by Goldman Sachs Group

Investment analysts at Goldman Sachs Group initiated coverage on shares of Travelers Companies (NYSE:TRV) in a research note issued on Monday. The brokerage set a “sell” rating and a $124.00 price target on the insurance provider’s stock. Goldman Sachs Group’s price target would indicate a potential downside of 8.37% from the company’s previous close.

A number of other brokerages also recently weighed in on TRV. B. Riley reissued a “neutral” rating on shares of Travelers Companies in a research note on Monday, November 6th. Argus raised their price objective on Travelers Companies from $139.00 to $145.00 and gave the company a “positive” rating in a research note on Monday, October 23rd. They noted that the move was a valuation call. Wells Fargo & Company set a $125.00 price objective on Travelers Companies and gave the company a “hold” rating in a research note on Tuesday, November 14th. Morgan Stanley raised their target price on Travelers Companies from $119.00 to $124.00 and gave the company an “underweight” rating in a report on Friday, October 20th. Finally, Citigroup raised their target price on Travelers Companies from $143.00 to $151.00 and gave the company a “buy” rating in a report on Friday, October 20th. Four equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and nine have assigned a buy rating to the company’s stock. Travelers Companies presently has an average rating of “Hold” and a consensus price target of $129.54.

Travelers Companies (NYSE:TRV) opened at $135.32 on Monday. The company has a quick ratio of 0.41, a current ratio of 0.41 and a debt-to-equity ratio of 0.29. Travelers Companies has a one year low of $113.76 and a one year high of $137.95. The firm has a market capitalization of $37,320.00, a P/E ratio of 16.63, a P/E/G ratio of 2.68 and a beta of 1.25.

Travelers Companies (NYSE:TRV) last issued its quarterly earnings data on Thursday, October 19th. The insurance provider reported $0.91 earnings per share for the quarter, missing the Zacks’ consensus estimate of $2.10 by ($1.19). Travelers Companies had a net margin of 8.56% and a return on equity of 9.87%. The company had revenue of $6.66 billion during the quarter, compared to the consensus estimate of $6.46 billion. During the same period in the previous year, the business posted $2.40 earnings per share. The firm’s revenue was up 4.2% on a year-over-year basis. research analysts predict that Travelers Companies will post 6.76 earnings per share for the current fiscal year.

Travelers Companies announced that its Board of Directors has authorized a stock buyback program on Monday, September 11th that permits the company to buyback outstanding shares. This buyback authorization permits the insurance provider to buy shares of its stock through open market purchases. Shares buyback programs are often a sign that the company’s management believes its shares are undervalued.

In other news, EVP Michael Frederick Klein sold 20,077 shares of Travelers Companies stock in a transaction that occurred on 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 sale, the executive vice president now owns 21,619 shares of the company’s stock, valued at approximately $2,825,170.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Andy F. Bessette sold 2,000 shares of Travelers Companies stock in a transaction that occurred on Tuesday, November 14th. The stock was sold at an average price of $132.98, for a total value of $265,960.00. Following the sale, the executive vice president now directly owns 8,000 shares in the company, valued at approximately $1,063,840. The disclosure for this sale can be found here. Insiders have sold a total of 55,302 shares of company stock worth $7,347,753 in the last three months. 0.82% of the stock is owned by insiders.

Several large investors have recently made changes to their positions in the company. Tradewinds Capital Management LLC boosted its stake in Travelers Companies by 1.1% in the 2nd quarter. Tradewinds Capital Management LLC now owns 905 shares of the insurance provider’s stock valued at $115,000 after buying an additional 10 shares in the last quarter. Community Bank N.A. boosted its stake in Travelers Companies by 0.7% in the 2nd quarter. Community Bank N.A. now owns 1,435 shares of the insurance provider’s stock valued at $181,000 after buying an additional 10 shares in the last quarter. First Business Financial Services Inc. boosted its stake in Travelers Companies by 0.5% in the 2nd quarter. First Business Financial Services Inc. now owns 4,362 shares of the insurance provider’s stock valued at $552,000 after buying an additional 20 shares in the last quarter. Lee Danner & Bass Inc. boosted its stake in Travelers Companies by 0.4% in the 2nd quarter. Lee Danner & Bass Inc. now owns 6,574 shares of the insurance provider’s stock valued at $832,000 after buying an additional 24 shares in the last quarter. Finally, TCI Wealth Advisors Inc. boosted its stake in Travelers Companies by 1.0% in the 2nd quarter. TCI Wealth Advisors Inc. now owns 3,032 shares of the insurance provider’s stock valued at $384,000 after buying an additional 29 shares in the last quarter. 78.52% of the stock is currently owned by institutional investors.

COPYRIGHT VIOLATION NOTICE: This story was first published by Chaffey Breeze and is owned by of Chaffey Breeze. If you are accessing this story on another site, it was copied illegally and reposted in violation of U.S. and international copyright & trademark law. The original version of this story can be viewed at https://www.chaffeybreeze.com/2017/12/06/travelers-companies-trv-now-covered-by-goldman-sachs-group.html.

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.

Analyst Recommendations for Travelers Companies (NYSE:TRV)

Receive News & Ratings for Travelers Companies Inc Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Travelers Companies Inc and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply