Travelers Companies (NYSE:TRV) Shares Gap Up After Better-Than-Expected Earnings

by · The Markets Daily

The Travelers Companies, Inc. (NYSE:TRV – Get Free Report)’s stock price gapped up before the market opened on Thursday after the company announced better than expected quarterly earnings. The stock had previously closed at $242.95, but opened at $253.00. Travelers Companies shares last traded at $259.20, with a volume of 210,994 shares.

The insurance provider reported $5.24 EPS for the quarter, beating analysts’ consensus estimates of $3.79 by $1.45. Travelers Companies had a return on equity of 15.90% and a net margin of 8.37%. The business had revenue of $11.90 billion during the quarter, compared to the consensus estimate of $11.46 billion. During the same quarter in the previous year, the business earned $1.95 earnings per share. The business’s revenue for the quarter was up 11.9% on a year-over-year basis.

Travelers Companies Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Tuesday, December 10th will be paid a dividend of $1.05 per share. This represents a $4.20 dividend on an annualized basis and a dividend yield of 1.58%. The ex-dividend date of this dividend is Tuesday, December 10th. Travelers Companies’s dividend payout ratio is currently 26.55%.

Wall Street Analyst Weigh In

Several brokerages recently commented on TRV. Barclays started coverage on shares of Travelers Companies in a research report on Wednesday, September 4th. They set an “overweight” rating and a $286.00 price target for the company. Royal Bank of Canada upped their price objective on Travelers Companies from $250.00 to $273.00 and gave the stock a “sector perform” rating in a report on Friday. TD Cowen cut Travelers Companies from a “buy” rating to a “hold” rating and reduced their target price for the company from $252.00 to $230.00 in a report on Monday, July 15th. Deutsche Bank Aktiengesellschaft upped their price target on Travelers Companies from $221.00 to $234.00 and gave the stock a “hold” rating in a research note on Wednesday, August 7th. Finally, Jefferies Financial Group lifted their price objective on Travelers Companies from $210.00 to $235.00 and gave the company a “hold” rating in a research note on Wednesday, October 9th. Four investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Travelers Companies has an average rating of “Hold” and a consensus price target of $235.42.

Get Our Latest Stock Report on TRV

Insider Buying and Selling

In related news, EVP Michael Frederick Klein sold 10,000 shares of Travelers Companies stock in a transaction on Thursday, July 25th. The shares were sold at an average price of $211.44, for a total value of $2,114,400.00. Following the completion of the sale, the executive vice president now owns 22,798 shares in the company, valued at approximately $4,820,409.12. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 1.33% of the company’s stock.

Institutional Trading of Travelers Companies

Hedge funds and other institutional investors have recently bought and sold shares of the company. Y.D. More Investments Ltd acquired a new position in shares of Travelers Companies in the 2nd quarter worth approximately $25,000. Pathway Financial Advisers LLC bought a new position in shares of Travelers Companies in the 1st quarter worth about $35,000. Beacon Capital Management LLC boosted its holdings in shares of Travelers Companies by 74.2% in the 1st quarter. Beacon Capital Management LLC now owns 155 shares of the insurance provider’s stock valued at $36,000 after buying an additional 66 shares during the period. Wolff Wiese Magana LLC grew its position in shares of Travelers Companies by 39.1% during the 3rd quarter. Wolff Wiese Magana LLC now owns 160 shares of the insurance provider’s stock valued at $37,000 after buying an additional 45 shares during the last quarter. Finally, Opal Wealth Advisors LLC acquired a new stake in Travelers Companies during the first quarter worth about $42,000. 82.45% of the stock is owned by institutional investors.

Travelers Companies Stock Up 0.2 %

The company has a debt-to-equity ratio of 0.32, a current ratio of 0.33 and a quick ratio of 0.33. The stock’s fifty day simple moving average is $231.88 and its 200-day simple moving average is $219.65. The stock has a market cap of $60.50 billion, a P/E ratio of 16.78, a PEG ratio of 1.26 and a beta of 0.62.

Travelers Companies Company Profile

(Get Free Report)

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.

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