The Travelers Companies, Inc. (NYSE:TRV) had its target price hoisted by UBS AG from $131.00 to $139.00 in a research report released on Wednesday morning. They currently have a neutral rating on the insurance provider’s stock.
Other equities analysts have also recently issued research reports about the company. Buckingham Research initiated coverage on The Travelers Companies in a report on Monday, September 11th. They set a buy rating and a $136.00 target price on the stock. Citigroup Inc. restated a buy rating and set a $148.00 target price (down previously from $150.00) on shares of The Travelers Companies in a report on Monday, July 24th. ValuEngine upgraded The Travelers Companies from a hold rating to a buy rating in a report on Friday, September 1st. Royal Bank Of Canada restated a buy rating and set a $135.00 target price on shares of The Travelers Companies in a report on Monday, August 21st. Finally, Barclays PLC raised their target price on The Travelers Companies from $119.00 to $122.00 and gave the stock an equal weight rating in a report on Friday, August 11th. Five research analysts have rated the stock with a sell rating, eight have issued a hold rating and nine have given a buy rating to the company’s stock. The company has a consensus rating of Hold and an average target price of $128.54.
The Travelers Companies (NYSE:TRV) last issued its earnings results on Thursday, October 19th. The insurance provider reported $0.91 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate 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 for the quarter, compared to the consensus estimate of $6.46 billion. During the same quarter last year, the business posted $2.40 EPS. The Travelers Companies’s quarterly revenue was up 4.2% on a year-over-year basis.
The Travelers Companies announced that its Board of Directors has initiated a share buyback plan on Monday, September 11th that permits the company to repurchase outstanding shares. This repurchase authorization permits the insurance provider to buy shares of its stock through open market purchases. Shares repurchase plans are generally an indication that the company’s board believes its shares are undervalued.
The company also recently announced a quarterly dividend, which will be paid on Friday, December 29th. Investors of record on Monday, December 11th will be given a $0.72 dividend. This represents a $2.88 dividend on an annualized basis and a yield of 2.17%. The ex-dividend date is Friday, December 8th. The Travelers Companies’s dividend payout ratio is presently 33.45%.
In related news, Vice Chairman Jay S. Benet sold 5,518 shares of The Travelers Companies stock in a transaction that occurred on Monday, August 7th. The stock was sold at an average price of $129.35, for a total value of $713,753.30. Following the sale, the insider now owns 82,824 shares of the company’s stock, valued at approximately $10,713,284.40. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, 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 value of $617,904.00. The disclosure for this sale can be found here. In the last three months, insiders sold 30,409 shares of company stock worth $3,943,124. 0.82% of the stock is owned by insiders.
Several large investors have recently bought and sold shares of TRV. Kwmg LLC increased its position in shares of The Travelers Companies by 10.1% during the 1st quarter. Kwmg LLC now owns 12,412 shares of the insurance provider’s stock worth $1,496,000 after purchasing an additional 1,138 shares during the last quarter. Cibc World Markets Corp increased its position in shares of The Travelers Companies by 46.9% during the 1st quarter. Cibc World Markets Corp now owns 244,436 shares of the insurance provider’s stock worth $29,464,000 after purchasing an additional 78,076 shares during the last quarter. WBI Investments Inc. increased its position in shares of The Travelers Companies by 112.4% during the 1st quarter. WBI Investments Inc. now owns 45,468 shares of the insurance provider’s stock worth $5,481,000 after purchasing an additional 24,060 shares during the last quarter. Cornerstone Capital Management Holdings LLC. increased its position in shares of The Travelers Companies by 6.7% during the 1st quarter. Cornerstone Capital Management Holdings LLC. now owns 182,122 shares of the insurance provider’s stock worth $21,951,000 after purchasing an additional 11,409 shares during the last quarter. Finally, Dynamic Technology Lab Private Ltd acquired a new position in shares of The Travelers Companies during the 1st quarter worth approximately $1,072,000. 78.28% of the stock is currently 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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