The Travelers Companies, Inc. (TRV) to Post Q3 2017 Earnings of $0.66 Per Share, Langen Mcalenn Forecasts
The Travelers Companies, Inc. (NYSE:TRV) – Equities research analysts at Langen Mcalenn dropped their Q3 2017 earnings per share estimates for The Travelers Companies in a research report issued on Monday. Langen Mcalenn analyst L. Greenberg now anticipates that the insurance provider will earn $0.66 per share for the quarter, down from their prior forecast of $0.72. Langen Mcalenn also issued estimates for The Travelers Companies’ FY2017 earnings at $7.63 EPS.
The Travelers Companies (NYSE:TRV) last announced its quarterly earnings data on Thursday, July 20th. The insurance provider reported $1.92 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.07 by ($0.15). The company had revenue of $6.35 billion during the quarter, compared to analyst estimates of $6.31 billion. The Travelers Companies had a net margin of 10.15% and a return on equity of 11.68%. The firm’s revenue was up 4.7% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.20 earnings per share. TRADEMARK VIOLATION NOTICE: “The Travelers Companies, Inc. (TRV) to Post Q3 2017 Earnings of $0.66 Per Share, Langen Mcalenn Forecasts” was originally published by American Banking News and is owned by of American Banking News. If you are reading this article on another website, it was stolen and republished in violation of US & international trademark & copyright legislation. The legal version of this article can be viewed at https://www.americanbankingnews.com/2017/10/12/the-travelers-companies-inc-trv-to-post-q3-2017-earnings-of-0-66-per-share-langen-mcalenn-forecasts.html.
Other equities analysts have also issued research reports about the stock. Barclays PLC boosted their price objective 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. BidaskClub lowered shares of The Travelers Companies from a “sell” rating to a “strong sell” rating in a report on Tuesday, August 1st. Vetr upgraded shares of The Travelers Companies from a “hold” rating to a “buy” rating and set a $132.68 price objective on the stock in a report on Tuesday, June 27th. Zacks Investment Research lowered shares of The Travelers Companies from a “hold” rating to a “sell” rating in a report on Tuesday, September 5th. Finally, Bank of America Corporation lowered shares of The Travelers Companies from a “buy” rating to a “neutral” rating and boosted their price objective for the stock from $120.62 to $129.44 in a report on Monday, June 19th. Five analysts have rated the stock with a sell rating, nine have assigned a hold rating and eight have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $125.71.
Shares of The Travelers Companies (TRV) opened at 125.61 on Thursday. The Travelers Companies has a 1-year low of $103.45 and a 1-year high of $130.37. The firm has a market capitalization of $34.66 billion, a PE ratio of 12.51 and a beta of 1.20. The firm has a 50-day moving average price of $122.30 and a 200-day moving average price of $123.92.
The company also recently announced a quarterly dividend, which was paid on Friday, September 29th. Shareholders of record on Friday, September 8th were given a $0.72 dividend. This represents a $2.88 annualized dividend and a yield of 2.29%. The ex-dividend date of this dividend was Thursday, September 7th. The Travelers Companies’s dividend payout ratio (DPR) is 28.77%.
The Travelers Companies declared that its board has initiated a stock repurchase plan on Monday, September 11th that authorizes the company to repurchase shares. This repurchase authorization authorizes the insurance provider to repurchase shares of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.
In other The Travelers Companies news, Vice Chairman Jay S. Benet sold 5,518 shares of the company’s stock in a transaction dated 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 in the company, valued at approximately $10,407,663.84. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Vice Chairman Jay S. Benet sold 16,566 shares of the company’s stock in a transaction dated Wednesday, August 9th. The stock was sold at an average price of $130.01, for a total transaction of $2,153,745.66. Following the completion of the transaction, the insider now owns 93,872 shares of the company’s stock, valued at approximately $12,204,298.72. The disclosure for this sale can be found here. In the last 90 days, insiders sold 128,323 shares of company stock valued at $16,436,703. 0.82% of the stock is owned by insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. grew its position in The Travelers Companies by 1.0% in the 2nd quarter. Vanguard Group Inc. now owns 21,769,557 shares of the insurance provider’s stock worth $2,754,501,000 after purchasing an additional 217,625 shares during the last quarter. BlackRock Inc. boosted its holdings in shares of 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 valued at $2,459,383,000 after acquiring an additional 19,585,476 shares in the last quarter. State Street Corp boosted its holdings in shares of The Travelers Companies by 1.6% in the first quarter. State Street Corp now owns 18,949,803 shares of the insurance provider’s stock valued at $2,284,205,000 after acquiring an additional 304,049 shares in the last quarter. FMR LLC boosted its holdings in shares of The Travelers Companies by 6.4% in the second quarter. FMR LLC now owns 7,020,581 shares of the insurance provider’s stock valued at $888,314,000 after acquiring an additional 424,036 shares in the last quarter. Finally, AQR Capital Management LLC boosted its holdings in shares of The Travelers Companies by 9.4% in the first quarter. AQR Capital Management LLC now owns 3,026,207 shares of the insurance provider’s stock valued at $364,779,000 after acquiring an additional 260,838 shares in the last quarter. Hedge funds and other institutional investors own 77.48% of the company’s stock.
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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