The Travelers Cos. (NYSE:TRV) – Analysts at Langen Mcalenn increased their FY2016 earnings per share estimates for The Travelers Cos. in a research report issued on Tuesday. Langen Mcalenn analyst L. Greenberg now forecasts that the brokerage will post earnings per share of $9.70 for the year, up from their prior forecast of $9.60. Langen Mcalenn also issued estimates for The Travelers Cos.’s Q4 2016 earnings at $2.51 EPS.
The Travelers Cos. (NYSE:TRV) last issued its quarterly earnings results on Thursday, July 21st. The company reported $2.24 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.19 by $0.05. The firm earned $6.79 billion during the quarter, compared to analysts’ expectations of $6.37 billion. The Travelers Cos. had a net margin of 11.70% and a return on equity of 13.06%. The Travelers Cos.’s quarterly revenue was up 2.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.52 EPS.
TRV has been the topic of a number of other reports. Citigroup Inc. reissued a “neutral” rating on shares of The Travelers Cos. in a research report on Tuesday, June 21st. Royal Bank Of Canada boosted their target price on shares of The Travelers Cos. from $120.00 to $125.00 and gave the stock an “outperform” rating in a research report on Friday, July 22nd. BMO Capital Markets reissued a “market perform” rating and set a $120.00 target price (up from $117.00) on shares of The Travelers Cos. in a research report on Tuesday, July 12th. Credit Suisse Group AG set a $111.00 target price on shares of The Travelers Cos. and gave the stock a “hold” rating in a research report on Monday, September 12th. Finally, Zacks Investment Research cut shares of The Travelers Cos. from a “hold” rating to a “sell” rating in a research report on Wednesday, June 29th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and four have issued a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $117.00.
Shares of The Travelers Cos. (NYSE:TRV) opened at 115.08 on Friday. The firm has a market cap of $33.18 billion, a PE ratio of 11.08 and a beta of 1.14. The company’s 50-day moving average is $115.51 and its 200-day moving average is $115.06. The Travelers Cos. has a 52 week low of $101.23 and a 52 week high of $119.32.
The firm also recently announced a quarterly dividend, which was paid on Friday, September 30th. Shareholders of record on Friday, September 9th were paid a dividend of $0.67 per share. The ex-dividend date was Wednesday, September 7th. This represents a $2.68 annualized dividend and a yield of 2.33%. The Travelers Cos.’s payout ratio is 25.92%.
In other news, Vice Chairman William H. Heyman sold 4,246 shares of the company’s stock in a transaction dated Wednesday, August 31st. The shares were sold at an average price of $118.98, for a total transaction of $505,189.08. Following the completion of the transaction, the insider now owns 231,500 shares in the company, valued at $27,543,870. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Brian W. Maclean sold 38,507 shares of the company’s stock in a transaction dated Friday, July 29th. The stock was sold at an average price of $116.85, for a total transaction of $4,499,542.95. Following the transaction, the chief operating officer now owns 145,001 shares of the company’s stock, valued at approximately $16,943,366.85. The disclosure for this sale can be found here. Company insiders own 1.34% of the company’s stock.
Institutional investors have recently added to or reduced their stakes in the company. Cohen & Steers Inc. raised its position in The Travelers Cos. by 573,761.8% in the second quarter. Cohen & Steers Inc. now owns 6,312,480 shares of the company’s stock valued at $672,090,000 after buying an additional 6,311,380 shares in the last quarter. Bank of Montreal Can purchased a new position in The Travelers Cos. during the second quarter valued at approximately $374,228,000. UBS Asset Management Americas Inc. raised its position in The Travelers Cos. by 32.7% in the first quarter. UBS Asset Management Americas Inc. now owns 2,236,907 shares of the company’s stock valued at $261,070,000 after buying an additional 551,568 shares in the last quarter. TIAA CREF Investment Management LLC raised its position in The Travelers Cos. by 46.7% in the second quarter. TIAA CREF Investment Management LLC now owns 1,606,286 shares of the company’s stock valued at $191,212,000 after buying an additional 511,608 shares in the last quarter. Finally, Emerald Acquisition Ltd. purchased a new position in The Travelers Cos. during the second quarter valued at approximately $49,727,000. Institutional investors and hedge funds own 80.13% of the company’s stock.
About The Travelers Cos.
The Travelers Companies, Inc is a holding company. The Company, through its subsidiaries, is engaged in providing a range of commercial and personal property and casualty insurance products and services to businesses, government units, associations and individuals. It operates through three segments: Business and International Insurance; Bond & Specialty Insurance, and Personal Insurance.
Receive News & Ratings for The Travelers Cos. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for The Travelers Cos. and related companies with MarketBeat.com's FREE daily email newsletter.