The Travelers Companies, Inc. (NYSE:TRV)‘s stock had its “hold” rating restated by equities researchers at Wells Fargo & Company in a research report issued on Tuesday. They presently have a $125.00 price objective on the insurance provider’s stock. Wells Fargo & Company’s price objective indicates a potential upside of 1.99% from the stock’s previous close.
The analysts wrote, “We are lowering our Q3 2017 EPS estimate to $0.81 (from income of $1.78) as we are now including $715 million of catastrophe losses, which includes the previewed losses from Harvey and a modest level of additional losses during the quarter. We are not yet including Hurricane Irma losses in our estimate until we get a clearer sense on the size of the industry loss (our current assumption is Irma will be a $40 billion loss for the industry). TRV’s preannounced losses from Harvey are in-line with our estimate. Our assumption remains that Hurricane Harvey losses will end up at about $20 billion for the insurance industry and Hurricane Irma losses will add another $40 billion. Based on TRV’s market share in the impacted lines in Texas we had assumed the company would see about $547 million of pre-tax losses from Hurricane Harvey, which is within the range of losses TRV preannounced.””
A number of other research firms also recently weighed in on TRV. MKM Partners reissued a “neutral” rating and set a $130.00 price target (up previously from $115.00) on shares of The Travelers Companies in a research report on Wednesday, July 26th. Credit Suisse Group decreased their price objective on shares of The Travelers Companies from $128.00 to $125.00 and set a “neutral” rating for the company in a report on Tuesday. Royal Bank Of Canada reaffirmed a “buy” rating and issued a $126.00 price objective on shares of The Travelers Companies in a report on Monday, May 22nd. Zacks Investment Research downgraded shares of The Travelers Companies from a “hold” rating to a “sell” rating in a report on Tuesday, September 5th. Finally, Citigroup Inc. reaffirmed a “buy” rating and issued a $148.00 price objective (down previously from $150.00) on shares of The Travelers Companies in a report on Monday, July 24th. Six equities research analysts have rated the stock with a sell rating, seven have given a hold rating and eight have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $126.26.
Shares of The Travelers Companies (NYSE:TRV) traded down 0.10% on Tuesday, hitting $122.44. 420,205 shares of the stock traded hands. The Travelers Companies has a 12-month low of $103.45 and a 12-month high of $130.37. The firm’s 50-day moving average is $125.84 and its 200 day moving average is $123.89. The firm has a market cap of $33.79 billion, a P/E ratio of 12.19 and a beta of 1.21.
The Travelers Companies (NYSE:TRV) last released its quarterly earnings results on Thursday, July 20th. The insurance provider reported $1.92 earnings per share for the quarter, missing analysts’ consensus estimates of $2.07 by ($0.15). The Travelers Companies had a return on equity of 11.68% and a net margin of 10.15%. The company had revenue of $6.35 billion for the quarter, compared to analyst estimates of $6.31 billion. During the same period in the previous year, the business posted $2.20 EPS. The firm’s quarterly revenue was up 4.7% compared to the same quarter last year. Equities research analysts forecast that The Travelers Companies will post $8.89 EPS for the current fiscal year.
The Travelers Companies announced that its board has initiated a share repurchase plan on Monday, September 11th that authorizes the company to repurchase outstanding shares. This repurchase authorization authorizes the insurance provider to repurchase shares of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board believes its stock is undervalued.
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In related news, EVP John P. Clifford, Jr. sold 3,525 shares of The Travelers Companies stock in a transaction dated Thursday, August 10th. The shares were sold at an average price of $129.85, for a total transaction of $457,721.25. Following the sale, the executive vice president now directly owns 9,658 shares in the company, valued at $1,254,091.30. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Kenneth Franklin Spence III sold 4,800 shares of The Travelers Companies stock in a transaction dated Monday, August 14th. The shares were 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. Insiders sold 150,395 shares of company stock worth $19,249,559 over the last quarter. 0.82% of the stock is currently owned by company insiders.
Several hedge funds and other institutional investors have recently modified their holdings of TRV. Usca Ria LLC raised its stake in shares of The Travelers Companies by 123.2% during the first quarter. Usca Ria LLC now owns 14,339 shares of the insurance provider’s stock valued at $1,728,000 after purchasing an additional 7,915 shares in the last quarter. Sequoia Financial Advisors LLC raised its stake in shares of The Travelers Companies by 11.4% during the first quarter. Sequoia Financial Advisors LLC now owns 2,523 shares of the insurance provider’s stock valued at $304,000 after purchasing an additional 258 shares in the last quarter. OLD National Bancorp IN raised its stake in shares of The Travelers Companies by 8.9% during the first quarter. OLD National Bancorp IN now owns 3,884 shares of the insurance provider’s stock valued at $468,000 after purchasing an additional 317 shares in the last quarter. Commerzbank Aktiengesellschaft FI raised its stake in shares of The Travelers Companies by 54.6% during the first quarter. Commerzbank Aktiengesellschaft FI now owns 51,066 shares of the insurance provider’s stock valued at $6,155,000 after purchasing an additional 18,033 shares in the last quarter. Finally, Webster Bank N. A. raised its stake in shares of The Travelers Companies by 2.5% during the first quarter. Webster Bank N. A. now owns 43,632 shares of the insurance provider’s stock valued at $5,260,000 after purchasing an additional 1,059 shares in the last quarter. Institutional investors and hedge funds own 77.55% 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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