$7.04 Billion in Sales Expected for The Travelers Companies, Inc. (NYSE:TRV) This Quarter
Equities research analysts predict that The Travelers Companies, Inc. (NYSE:TRV) will report $7.04 billion in sales for the current fiscal quarter, according to Zacks Investment Research. Four analysts have issued estimates for The Travelers Companies’ earnings, with the highest sales estimate coming in at $7.15 billion and the lowest estimate coming in at $6.87 billion. The Travelers Companies posted sales of $6.94 billion in the same quarter last year, which suggests a positive year over year growth rate of 1.4%. The business is scheduled to announce its next quarterly earnings results on Thursday, October 19th.
According to Zacks, analysts expect that The Travelers Companies will report full year sales of $7.04 billion for the current year, with estimates ranging from $27.28 billion to $28.36 billion. For the next fiscal year, analysts expect that the firm will report sales of $28.92 billion per share, with estimates ranging from $28.18 billion to $29.58 billion. Zacks’ sales calculations are an average based on a survey of research firms that cover The Travelers Companies.
The Travelers Companies (NYSE:TRV) last announced its quarterly earnings results on Thursday, July 20th. The insurance provider reported $1.92 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $2.07 by $0.15. The firm had revenue of $6.35 billion for the quarter, compared to the consensus estimate of $6.31 billion. The Travelers Companies had a net margin of 10.15% and a return on equity of 11.68%. The Travelers Companies’s revenue was up 4.7% on a year-over-year basis. During the same period last year, the business earned $2.20 EPS.
A number of research analysts have issued reports on the stock. BidaskClub lowered shares of The Travelers Companies from a “buy” rating to a “hold” rating in a report on Wednesday, July 12th. Vetr upgraded shares of The Travelers Companies from a “hold” rating to a “buy” rating and set a $132.68 target price on the stock in a report on Tuesday, June 27th. Keefe, Bruyette & Woods restated a “hold” rating and issued a $115.00 target price on shares of The Travelers Companies in a report on Thursday, May 25th. Bank of America Corporation lowered shares of The Travelers Companies from a “buy” rating to a “neutral” rating and upped their target price for the company from $120.62 to $129.44 in a report on Monday, June 19th. Finally, MKM Partners restated a “neutral” rating and issued a $130.00 target price (up from $115.00) on shares of The Travelers Companies in a report on Wednesday, July 26th. Five analysts have rated the stock with a sell rating, seven have assigned a hold rating and six have given a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $123.79.
Shares of The Travelers Companies (TRV) opened at 129.69 on Monday. The Travelers Companies has a 12 month low of $103.45 and a 12 month high of $130.00. The company has a market cap of $35.79 billion, a P/E ratio of 12.91 and a beta of 1.20. The company’s 50 day moving average is $126.93 and its 200 day moving average is $122.59.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Stockholders of record on Friday, September 8th will be issued a dividend of $0.72 per share. The ex-dividend date is Thursday, September 7th. This represents a $2.88 annualized dividend and a dividend yield of 2.22%. The Travelers Companies’s payout ratio is currently 28.77%.
The Travelers Companies declared that its Board of Directors has authorized a stock buyback program on Thursday, April 20th that authorizes the company to buyback $5.00 billion in outstanding shares. This buyback authorization authorizes the insurance provider to repurchase shares of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board of directors believes its stock is undervalued.
In other news, EVP Maria Olivo sold 8,186 shares of the stock in a transaction dated Wednesday, May 31st. The shares were sold at an average price of $124.84, for a total transaction of $1,021,940.24. Following the transaction, the executive vice president now directly owns 88,697 shares in the company, valued at approximately $11,072,933.48. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Andy F. Bessette sold 3,300 shares of the stock in a transaction dated Tuesday, August 1st. The stock was sold at an average price of $128.50, for a total transaction of $424,050.00. Following the transaction, the executive vice president now owns 10,000 shares in the company, valued at $1,285,000. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 163,894 shares of company stock worth $20,759,812. Insiders own 0.82% of the company’s stock.
A number of hedge funds have recently bought and sold shares of the company. BlackRock Inc. increased its stake in The Travelers Companies by 2,395.6% in the first quarter. BlackRock Inc. now owns 20,403,051 shares of the insurance provider’s stock worth $2,459,383,000 after buying an additional 19,585,476 shares during the period. FMR LLC increased its stake in The Travelers Companies by 42.1% in the first quarter. FMR LLC now owns 6,596,545 shares of the insurance provider’s stock worth $795,148,000 after buying an additional 1,954,573 shares during the period. Vanguard Group Inc. increased its stake in The Travelers Companies by 3.0% in the first quarter. Vanguard Group Inc. now owns 21,551,932 shares of the insurance provider’s stock worth $2,597,871,000 after buying an additional 633,510 shares during the period. Hermes Investment Management Ltd. acquired a new stake in The Travelers Companies during the second quarter worth about $58,950,000. Finally, WINTON GROUP Ltd increased its stake in The Travelers Companies by 191.6% in the first quarter. WINTON GROUP Ltd now owns 695,246 shares of the insurance provider’s stock worth $79,640,000 after buying an additional 456,814 shares during the period. 79.01% of the stock is owned by hedge funds and other institutional investors.
About The Travelers Companies
The Travelers Companies, Inc is a holding company. The Company’s segments include Business and International Insurance; Bond & Specialty Insurance, and Personal Insurance. Through its subsidiaries, it provides commercial and personal property and casualty insurance products and services. The Business and International Insurance segment offers property and casualty insurance and insurance related services to its clients, in the United States and in Canada, as well as in the United Kingdom, the Republic of Ireland, Brazil and throughout other parts of the world.
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