Travelers Cos. Rating Reiterated by Zacks (TRV)
Travelers Cos. (NYSE:TRV)‘s stock had its “outperform” rating reiterated by Zacks in a report issued on Wednesday, Stock Ratings Network reports. They currently have a $104.00 price target on the stock. Zacks‘ price objective would indicate a potential upside of 19.94% from the company’s current price.
Zacks‘ analyst wrote, “Travelers’ third-quarter earnings per share surpassed the Zacks Consensus Estimate and the year-ago results aided by sustained improvement in underwriting results. Lower share count also boosted the bottom line. Top line slipped slightly year over year but surpassed expectation. The company noted that written rate gains continued to exceed expected loss cost trends in all segments. In the quarter, the company retuned about $1 billion to its shareholders. The board of directors authorized an additional $5.0 billion of share repurchases. High retention rate, pricing gains, positive renewal rate changes, and a strong capital position are among the positives. The company’s inorganic story growth trajectory seems impressive based on the ongoing strategic acquisitions. Additionally the cost reduction plans are expected to enhance company savings by 2015. However, low rate interest rate environment remains a drag. “
A number of other firms have also recently commented on TRV. Analysts at Sandler O’Neill downgraded shares of Travelers Cos. from a “buy” rating to a “hold” rating in a research note to investors on Wednesday. Separately, analysts at Guggenheim downgraded shares of Travelers Cos. from a “neutral” rating to a “sell” rating in a research note to investors on Thursday, October 17th. They now have a $72.00 price target on the stock, down previously from $87.00. Finally, analysts at Barclays raised their price target on shares of Travelers Cos. from $97.00 to $100.00 in a research note to investors on Wednesday, October 2nd. They now have an “overweight” rating on the stock. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating, nine have given a buy rating and one has given a strong buy rating to the company’s stock. Travelers Cos. has an average rating of “Hold” and a consensus target price of $90.31.
Shares of Travelers Cos. (NYSE:TRV) traded down 0.62% during mid-day trading on Wednesday, hitting $86.17. 1,177,083 shares of the company’s stock traded hands. Travelers Cos. has a 1-year low of $67.62 and a 1-year high of $89.00. The stock has a 50-day moving average of $81.74 and a 200-day moving average of $82.97. The company has a market cap of $32.182 billion and a price-to-earnings ratio of 11.20.
Travelers Cos. (NYSE:TRV) last issued its quarterly earnings data on Tuesday, October 22nd. The company reported $2.35 EPS for the quarter, beating the Thomson Reuters consensus estimate of $1.66 by $0.69. The company had revenue of $6.45 billion for the quarter, compared to the consensus estimate of $5.74 billion. During the same quarter in the prior year, the company posted $2.22 earnings per share. The company’s quarterly revenue was up .3% on a year-over-year basis. Analysts expect that Travelers Cos. will post $8.50 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Tuesday, December 31st. Shareholders of record on Tuesday, December 10th will be paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 2.31%.
The Travelers Companies, Inc (NYSE:TRV) is a holding company.
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