FBR & Co Comments on The Travelers Companies, Inc.’s Q3 2017 Earnings (TRV)
The Travelers Companies, Inc. (NYSE:TRV) – Equities researchers at FBR & Co issued their Q3 2017 earnings per share estimates for The Travelers Companies in a research note issued on Tuesday. FBR & Co analyst R. Binner forecasts that the insurance provider will post earnings per share of $0.55 for the quarter. FBR & Co also issued estimates for The Travelers Companies’ FY2017 earnings at $7.25 EPS.
A number of other brokerages have also recently weighed in on TRV. Barclays PLC raised their target price on shares of The Travelers Companies from $119.00 to $122.00 and gave the stock an “equal weight” rating in a report on Friday, August 11th. Bank of America Corporation lowered shares of The Travelers Companies from a “buy” rating to a “neutral” rating and lifted their target price for the company from $120.62 to $129.44 in a research report on Monday, June 19th. BidaskClub upgraded shares of The Travelers Companies from a “hold” rating to a “buy” rating in a research report on Saturday, June 17th. Keefe, Bruyette & Woods reaffirmed a “hold” rating on shares of The Travelers Companies in a research note on Tuesday, June 20th. Finally, Royal Bank Of Canada reaffirmed a “buy” rating and issued a $135.00 target price on shares of The Travelers Companies in a research note on Monday, August 21st. Five investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and eight have issued a buy rating to the company’s stock. The Travelers Companies currently has an average rating of “Hold” and a consensus target price of $125.71.
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The Travelers Companies (NYSE:TRV) opened at 125.61 on Thursday. The Travelers Companies has a 52-week low of $103.45 and a 52-week high of $130.37. The firm has a market cap of $34.66 billion, a PE ratio of 12.51 and a beta of 1.20. The firm’s 50-day moving average price is $122.30 and its 200 day moving average price is $123.92.
The Travelers Companies (NYSE:TRV) last released its earnings results on Thursday, July 20th. The insurance provider reported $1.92 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $2.07 by ($0.15). The Travelers Companies had a return on equity of 11.68% and a net margin of 10.15%. The business had revenue of $6.35 billion for the quarter, compared to analyst estimates of $6.31 billion. During the same quarter in the previous year, the firm posted $2.20 EPS. The business’s revenue for the quarter was up 4.7% on a year-over-year basis.
A number of institutional investors have recently added to or reduced their stakes in the business. Fulton Bank N.A. raised its holdings in The Travelers Companies by 16.0% during the 3rd quarter. Fulton Bank N.A. now owns 2,933 shares of the insurance provider’s stock worth $359,000 after purchasing an additional 405 shares during the last quarter. Intl Fcstone Inc. bought a new position in The Travelers Companies during the 2nd quarter worth approximately $2,029,000. RNC Capital Management LLC raised its holdings in The Travelers Companies by 2.5% during the 2nd quarter. RNC Capital Management LLC now owns 262,394 shares of the insurance provider’s stock worth $33,201,000 after purchasing an additional 6,404 shares during the last quarter. Toronto Dominion Bank raised its holdings in The Travelers Companies by 25.2% during the 2nd quarter. Toronto Dominion Bank now owns 95,099 shares of the insurance provider’s stock worth $12,032,000 after purchasing an additional 19,137 shares during the last quarter. Finally, Oak Associates Ltd. OH raised its holdings in The Travelers Companies by 5.9% during the 2nd quarter. Oak Associates Ltd. OH now owns 64,360 shares of the insurance provider’s stock worth $8,143,000 after purchasing an additional 3,600 shares during the last quarter. Hedge funds and other institutional investors own 77.48% of the company’s stock.
In related news, EVP Kenneth Franklin Spence III sold 4,800 shares of The Travelers Companies stock in a transaction that occurred on Monday, August 14th. The shares were sold at an average price of $128.73, for a total transaction of $617,904.00. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Andy F. Bessette sold 3,300 shares of The Travelers Companies stock in a transaction that occurred on Tuesday, August 1st. The stock was sold at an average price of $128.50, for a total transaction of $424,050.00. Following the sale, 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. Insiders have sold 128,323 shares of company stock worth $16,436,703 over the last quarter. Corporate insiders own 0.82% of the company’s stock.
The Travelers Companies declared that its board has initiated a stock repurchase program on Monday, September 11th that permits the company to buyback shares. This buyback authorization permits the insurance provider to reacquire shares of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board believes its shares are undervalued.
The company also recently disclosed a quarterly dividend, which was paid on Friday, September 29th. Shareholders of record on Friday, September 8th were paid a dividend of $0.72 per share. The ex-dividend date of this dividend was Thursday, September 7th. This represents a $2.88 dividend on an annualized basis and a yield of 2.29%. The Travelers Companies’s payout ratio is 28.77%.
The Travelers Companies Company Profile
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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