Travelers Companies Inc (NYSE:TRV) – Investment analysts at B. Riley lowered their FY2017 earnings estimates for shares of Travelers Companies in a research report issued on Thursday. B. Riley analyst R. Binner now anticipates that the insurance provider will post earnings per share of $6.47 for the year, down from their previous estimate of $7.25. B. Riley has a “Neutral” rating on the stock. B. Riley also issued estimates for Travelers Companies’ Q4 2017 earnings at $1.46 EPS, FY2018 earnings at $10.55 EPS and FY2019 earnings at $11.20 EPS.
A number of other brokerages have also recently commented on TRV. Wells Fargo & Co restated a “hold” rating and set a $125.00 price target on shares of Travelers Companies in a research note on Tuesday, September 12th. Credit Suisse Group dropped their price target on shares of Travelers Companies from $128.00 to $125.00 and set a “neutral” rating on the stock in a research note on Tuesday, September 12th. Keefe, Bruyette & Woods restated a “buy” rating and set a $152.00 price target on shares of Travelers Companies in a research note on Wednesday, December 6th. Royal Bank of Canada upped their price target on shares of Travelers Companies to $140.00 and gave the company an “outperform” rating in a research note on Friday, October 20th. Finally, Zacks Investment Research upgraded shares of Travelers Companies from a “sell” rating to a “hold” rating in a research note on Wednesday, November 1st. Three equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and nine have issued a buy rating to the company’s stock. Travelers Companies has an average rating of “Hold” and an average price target of $134.38.
Travelers Companies (NYSE:TRV) last announced its quarterly earnings results on Thursday, October 19th. The insurance provider reported $0.91 EPS for the quarter, missing the Zacks’ consensus estimate of $2.10 by ($1.19). The business had revenue of $6.66 billion for the quarter, compared to analysts’ expectations of $6.46 billion. Travelers Companies had a net margin of 8.56% and a return on equity of 9.87%. The business’s quarterly revenue was up 4.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.40 earnings per share.
The company also recently announced a quarterly dividend, which was paid on Friday, December 29th. Shareholders of record on Monday, December 11th were paid a $0.72 dividend. This represents a $2.88 annualized dividend and a yield of 2.17%. The ex-dividend date was Friday, December 8th. Travelers Companies’s dividend payout ratio is presently 33.33%.
Travelers Companies announced that its board has authorized a stock buyback plan on Thursday, November 9th that authorizes the company to buyback outstanding shares. This buyback authorization authorizes the insurance provider to buy shares of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s board believes its stock is undervalued.
In other news, EVP Andy F. Bessette sold 2,000 shares of the firm’s stock in a transaction on Tuesday, November 14th. The shares were sold at an average price of $132.98, for a total transaction of $265,960.00. Following the sale, the executive vice president now owns 8,000 shares in the company, valued at approximately $1,063,840. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Maria Olivo sold 33,225 shares of the firm’s stock in a transaction on Wednesday, November 29th. The shares were sold at an average price of $134.18, for a total transaction of $4,458,130.50. The disclosure for this sale can be found here. Insiders sold a total of 55,302 shares of company stock worth $7,347,753 over the last quarter. Corporate insiders own 0.82% of the company’s stock.
Several institutional investors have recently bought and sold shares of TRV. Balyasny Asset Management LLC raised its position in shares of Travelers Companies by 2,272.4% during the 2nd quarter. Balyasny Asset Management LLC now owns 1,471,130 shares of the insurance provider’s stock valued at $186,142,000 after buying an additional 1,409,121 shares in the last quarter. FIL Ltd purchased a new stake in shares of Travelers Companies during the 2nd quarter valued at $161,641,000. Janus Henderson Group PLC raised its position in shares of Travelers Companies by 3,559.7% during the 2nd quarter. Janus Henderson Group PLC now owns 1,305,445 shares of the insurance provider’s stock valued at $165,178,000 after buying an additional 1,269,774 shares in the last quarter. American Century Companies Inc. raised its position in shares of Travelers Companies by 2,264.8% during the 2nd quarter. American Century Companies Inc. now owns 901,739 shares of the insurance provider’s stock valued at $114,097,000 after buying an additional 863,607 shares in the last quarter. Finally, Robeco Institutional Asset Management B.V. purchased a new stake in shares of Travelers Companies during the 3rd quarter valued at $78,058,000. Hedge funds and other institutional investors own 78.49% of the company’s stock.
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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