The Travelers Companies (TRV) has been making some significant market moves, setting new 52-week highs and raising speculations whether the run will continue. However, the company’s Canadian credit rating was cut by AM Best following its major acquisition deal with Definity. The US$2.4 billion acquisition venture led to Traveler’s selling its Canadian personal and commercial insurance business to Definity. Market players such as NBC Securities, Vest Financial, and GAMMA Investing have been actively changing their share positions in TRV, with both purchases and sales reported. Insiders within Travelers – including Vice Chairman William H. Heyman, Maria Olivo, and CEO Alan D. Schnitzer - are also doing the same. The company's consensus rating remains at 'Hold'. TRV announced a higher dividend, introduced the Quantum Yacht 2.0, and filed for a mixed shelf offering. Keefe Bruyette raised the price target to $303.00 due to Traveler's divestment of Canadian businesses. Notwithstanding, questions about the company’s resilience to climate change impacts on insurability have emerged. TRV is also attracting significant investor interest with companies such as Rhumbline Advisers, Wellington Management Group, and Strategic Planning Group taking stake positions.
The Travelers Companies TRV News Analytics from Fri, 29 Nov 2024 08:00:00 GMT to Sat, 07 Jun 2025 21:29:14 GMT - Rating 3 - Innovation -2 - Information 7 - Rumor -5
