Travelers Companies (NYSE:TRV) Releases Quarterly Earnings Results, Beats Expectations By $1.45 EPS

20 Oct 2024, 00:42 by Sarita Garza · The Markets Daily

Travelers Companies (NYSE:TRV – Get Free Report) posted its quarterly earnings data on Thursday. The insurance provider reported $5.24 earnings per share for the quarter, beating analysts’ consensus estimates of $3.79 by $1.45, Briefing.com reports. The business had revenue of $11.90 billion during the quarter, compared to the consensus estimate of $11.46 billion. Travelers Companies had a return on equity of 15.90% and a net margin of 8.37%. Travelers Companies’s quarterly revenue was up 11.9% on a year-over-year basis. During the same period in the prior year, the business posted $1.95 earnings per share.

Travelers Companies Stock Up 0.2 %

TRV traded up $0.63 during midday trading on Friday, reaching $265.45. 1,579,506 shares of the company were exchanged, compared to its average volume of 1,319,202. The company has a market cap of $60.50 billion, a price-to-earnings ratio of 16.78, a price-to-earnings-growth ratio of 1.26 and a beta of 0.62. Travelers Companies has a one year low of $157.33 and a one year high of $269.55. The company’s fifty day moving average price is $231.88 and its 200 day moving average price is $219.65. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.33 and a current ratio of 0.33.

Travelers Companies Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Tuesday, December 10th will be given a $1.05 dividend. The ex-dividend date of this dividend is Tuesday, December 10th. This represents a $4.20 annualized dividend and a yield of 1.58%. Travelers Companies’s payout ratio is 26.55%.

Insider Activity

In other Travelers Companies 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 transaction of $2,114,400.00. Following the transaction, the executive vice president now directly owns 22,798 shares of the company’s stock, valued at $4,820,409.12. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 1.33% of the company’s stock.

Hedge Funds Weigh In On Travelers Companies

Several hedge funds have recently modified their holdings of the company. Penn Davis Mcfarland Inc. purchased a new stake in shares of Travelers Companies during the third quarter valued at approximately $218,000. Narus Financial Partners LLC purchased a new stake in shares of Travelers Companies during the 3rd quarter valued at $213,000. Allspring Global Investments Holdings LLC raised its stake in shares of Travelers Companies by 36.8% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 16,631 shares of the insurance provider’s stock worth $3,894,000 after purchasing an additional 4,474 shares during the period. Veracity Capital LLC boosted its holdings in shares of Travelers Companies by 6.8% in the 3rd quarter. Veracity Capital LLC now owns 1,863 shares of the insurance provider’s stock worth $436,000 after buying an additional 118 shares during the last quarter. Finally, Harfst & Associates Inc. boosted its holdings in shares of Travelers Companies by 27.3% in the 3rd quarter. Harfst & Associates Inc. now owns 8,918 shares of the insurance provider’s stock worth $2,088,000 after buying an additional 1,910 shares during the last quarter. Institutional investors own 82.45% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. StockNews.com raised Travelers Companies from a “hold” rating to a “buy” rating in a research note on Tuesday. TD Cowen downgraded shares of Travelers Companies from a “buy” rating to a “hold” rating and dropped their price target for the stock from $252.00 to $230.00 in a research report on Monday, July 15th. Piper Sandler decreased their price objective on shares of Travelers Companies from $213.00 to $207.00 and set a “neutral” rating for the company in a research report on Monday, July 22nd. Royal Bank of Canada boosted their target price on shares of Travelers Companies from $250.00 to $273.00 and gave the company a “sector perform” rating in a report on Friday. Finally, Wells Fargo & Company increased their price target on Travelers Companies from $206.00 to $207.00 and gave the stock an “equal weight” rating in a report on Thursday, October 10th. Four investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $235.42.

View Our Latest Report on TRV

About Travelers Companies

(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.