The Travelers Companies, Inc. (NYSE:TRV) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Wednesday.
According to Zacks, “Travelers boasts a strong market position as one of the leading writers of auto and homeowners’ insurance and commercial U.S. property-casualty insurance. Its inorganic growth story remains impressive. Its capital position remains strong. Travelers has been generating sufficient capital, which it prudently deploys to enhance shareholders’ value and pursue growth initiatives. Solid retention and a positive renewal rate change are positives. However, exposure to catastrophe losses pose headwind for underwriting results. Moreover, owing to a still low interest rate environment Travelers estimates $15–$20 million lower after-tax net investment income on a quarterly basis. Shares of Travelers have underperformed the industry year to date. The company saw its 2017 and 2018 estimates moving south over the last 30 days.”
Other equities research analysts also recently issued research reports about the stock. BidaskClub downgraded shares of The Travelers Companies from a “buy” rating to a “hold” rating in a research report on Wednesday, July 12th. Barclays PLC boosted their price objective on shares of The Travelers Companies from $119.00 to $122.00 and gave the company an “equal weight” rating in a research report on Friday, August 11th. Argus boosted their price objective on shares of The Travelers Companies from $139.00 to $145.00 and gave the company a “positive” rating in a research report on Monday, October 23rd. They noted that the move was a valuation call. MKM Partners reissued a “neutral” rating and set a $130.00 price objective (up previously from $115.00) on shares of The Travelers Companies in a research report on Wednesday, July 26th. Finally, UBS AG cut their price objective on shares of The Travelers Companies from $126.00 to $125.00 and set a “neutral” rating for the company in a research report on Tuesday, September 19th. Five analysts have rated the stock with a sell rating, eight have issued a hold rating and nine have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $127.71.
The Travelers Companies (NYSE:TRV) traded up 0.67% during midday trading on Wednesday, hitting $133.34. The company’s stock had a trading volume of 966,653 shares. The firm has a market cap of $36.79 billion, a P/E ratio of 13.28 and a beta of 1.20. The company’s 50 day moving average price is $125.99 and its 200 day moving average price is $124.94. The Travelers Companies has a 12 month low of $103.45 and a 12 month high of $134.47.
The Travelers Companies (NYSE:TRV) last posted its earnings results on Thursday, October 19th. The insurance provider reported $0.91 EPS for the quarter, missing analysts’ consensus estimates of $2.10 by ($1.19). The Travelers Companies had a return on equity of 9.87% and a net margin of 8.56%. The company had revenue of $6.66 billion during the quarter, compared to the consensus estimate of $6.46 billion. During the same period last year, the firm posted $2.40 EPS. The company’s revenue for the quarter was up 4.2% on a year-over-year basis. Analysts expect that The Travelers Companies will post $7.51 EPS for the current year.
The Travelers Companies announced that its Board of Directors has approved a stock repurchase program on Monday, September 11th that authorizes the company to repurchase outstanding shares. This repurchase authorization authorizes the insurance provider to reacquire shares of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s leadership believes its shares are undervalued.
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In other The Travelers Companies news, Vice Chairman Jay S. Benet sold 16,566 shares of the business’s stock in a transaction on Wednesday, August 9th. The shares were sold at an average price of $130.01, for a total value of $2,153,745.66. Following the sale, the insider now owns 93,872 shares in the company, valued at approximately $12,204,298.72. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Kenneth Franklin Spence III sold 4,800 shares of the business’s stock in a transaction on Monday, August 14th. The stock was sold at an average price of $128.73, for a total transaction of $617,904.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 30,409 shares of company stock worth $3,943,124. Corporate insiders own 0.82% of the company’s stock.
A number of hedge funds have recently made changes to their positions in TRV. CWM LLC lifted its stake in The Travelers Companies by 4.9% in the 2nd quarter. CWM LLC now owns 794 shares of the insurance provider’s stock worth $100,000 after purchasing an additional 37 shares in the last quarter. Westside Investment Management Inc. lifted its stake in The Travelers Companies by 361.1% in the 1st quarter. Westside Investment Management Inc. now owns 876 shares of the insurance provider’s stock worth $106,000 after purchasing an additional 686 shares in the last quarter. Tradewinds Capital Management LLC lifted its stake in The Travelers Companies by 1.1% in the 2nd quarter. Tradewinds Capital Management LLC now owns 905 shares of the insurance provider’s stock worth $115,000 after purchasing an additional 10 shares in the last quarter. Intellectus Partners LLC lifted its stake in The Travelers Companies by 4.6% in the 2nd quarter. Intellectus Partners LLC now owns 933 shares of the insurance provider’s stock worth $118,000 after purchasing an additional 41 shares in the last quarter. Finally, Thompson Siegel & Walmsley LLC lifted its stake in The Travelers Companies by 3.6% in the 2nd quarter. Thompson Siegel & Walmsley LLC now owns 995 shares of the insurance provider’s stock worth $126,000 after purchasing an additional 35 shares in the last quarter. Institutional investors and hedge funds own 78.28% of the company’s stock.
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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