Piper Sandler Remains a Buy on Travelers Companies (TRV)
Piper Sandler analyst Paul Newsome reiterated a Buy rating on Travelers Companies (TRV – Research Report) today and set a price target of $310.00. The company's shares opened today at $273.31.
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According to TipRanks, Newsome is a top 25 analyst with an average return of 16.0% and a 76.86% success rate. Newsome covers the Financial sector, focusing on stocks such as Arthur J Gallagher & Co, Palomar Holdings, and Chubb.
In addition to Piper Sandler, Travelers Companies also received a Buy from Evercore ISI's David Motemaden in a report issued on May 28. However, on May 27, Wells Fargo maintained a Hold rating on Travelers Companies (NYSE: TRV).
Based on Travelers Companies' latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $11.81 billion and a net profit of $395 million. In comparison, last year the company earned a revenue of $11.23 billion and had a net profit of $1.12 billion
Based on the recent corporate insider activity of 122 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of TRV in relation to earlier this year. Earlier this month, William Heyman, the Vice Chairman of TRV sold 2,000.00 shares for a total of $553,000.00.
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