The Travelers Companies, Inc. (TRV) Receives Average Rating of “Hold” from Brokerages
Shares of The Travelers Companies, Inc. (NYSE:TRV) have been assigned an average rating of “Hold” from the twenty-two analysts that are covering the company, Marketbeat reports. Five investment analysts have rated the stock with a sell recommendation, nine have given a hold recommendation and eight have given a buy recommendation to the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $126.38.
A number of analysts have commented on the company. Barclays PLC boosted their target price on The Travelers Companies from $119.00 to $122.00 and gave the stock an “equal weight” rating in a research report on Friday, August 11th. BidaskClub downgraded The Travelers Companies from a “sell” rating to a “strong sell” rating in a research report on Tuesday, August 1st. Vetr upgraded The Travelers Companies from a “hold” rating to a “buy” rating and set a $132.68 target price on the stock in a research report on Tuesday, June 27th. Zacks Investment Research downgraded The Travelers Companies from a “hold” rating to a “sell” rating in a research report on Tuesday, September 5th. Finally, Bank of America Corporation downgraded The Travelers Companies from a “buy” rating to a “neutral” rating and boosted their target price for the stock from $120.62 to $129.44 in a research report on Monday, June 19th.
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In related news, Vice Chairman Jay S. Benet sold 16,566 shares of the company’s stock in a transaction on Wednesday, August 9th. The stock was sold at an average price of $130.01, for a total value of $2,153,745.66. Following the completion of the transaction, the insider now directly owns 93,872 shares in the company, valued at $12,204,298.72. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Vice Chairman Jay S. Benet sold 5,518 shares of the company’s stock in a transaction on Monday, July 17th. The shares were sold at an average price of $125.66, for a total value of $693,391.88. Following the completion of the transaction, the insider now owns 82,824 shares of the company’s stock, valued at $10,407,663.84. The disclosure for this sale can be found here. Insiders sold 133,841 shares of company stock valued at $17,135,116 over the last quarter. Insiders own 0.82% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its stake in The Travelers Companies by 1.0% during the second quarter. Vanguard Group Inc. now owns 21,769,557 shares of the insurance provider’s stock worth $2,754,501,000 after acquiring an additional 217,625 shares during the last quarter. BlackRock Inc. increased its stake in The Travelers Companies by 2,395.6% during the first quarter. BlackRock Inc. now owns 20,403,051 shares of the insurance provider’s stock worth $2,459,383,000 after acquiring an additional 19,585,476 shares during the last quarter. State Street Corp increased its stake in The Travelers Companies by 1.6% during the first quarter. State Street Corp now owns 18,949,803 shares of the insurance provider’s stock worth $2,284,205,000 after acquiring an additional 304,049 shares during the last quarter. FMR LLC increased its stake in The Travelers Companies by 6.4% during the second quarter. FMR LLC now owns 7,020,581 shares of the insurance provider’s stock worth $888,314,000 after acquiring an additional 424,036 shares during the last quarter. Finally, AQR Capital Management LLC increased its stake in The Travelers Companies by 9.4% during the first quarter. AQR Capital Management LLC now owns 3,026,207 shares of the insurance provider’s stock worth $364,779,000 after acquiring an additional 260,838 shares during the last quarter. Hedge funds and other institutional investors own 77.48% of the company’s stock.
The Travelers Companies (NYSE:TRV) traded up 0.16% on Wednesday, reaching $123.90. The company had a trading volume of 836,932 shares. The company’s 50-day moving average is $122.72 and its 200-day moving average is $123.79. The company has a market capitalization of $34.19 billion, a PE ratio of 12.34 and a beta of 1.20. The Travelers Companies has a 52-week low of $103.45 and a 52-week high of $130.37.
The Travelers Companies (NYSE:TRV) last posted its earnings results on Thursday, July 20th. The insurance provider reported $1.92 EPS for the quarter, missing the Zacks’ consensus estimate of $2.07 by ($0.15). The firm had revenue of $6.35 billion for the quarter, compared to analysts’ expectations of $6.31 billion. The Travelers Companies had a return on equity of 11.68% and a net margin of 10.15%. The firm’s revenue for the quarter was up 4.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.20 earnings per share. Equities analysts anticipate that The Travelers Companies will post $7.43 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Friday, September 29th. Investors of record on Friday, September 8th were paid a $0.72 dividend. The ex-dividend date was Thursday, September 7th. This represents a $2.88 annualized dividend and a yield of 2.32%. The Travelers Companies’s payout ratio is currently 28.77%.
The Travelers Companies declared that its board has approved a stock buyback plan on Monday, September 11th that allows the company to repurchase shares. This repurchase authorization allows the insurance provider to purchase shares of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s management believes its stock is undervalued.
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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