Travelers Companies (NYSE:TRV) Posts Earnings Results

Travelers Companies (NYSE:TRV) released its quarterly earnings results on Friday. The insurance provider reported $10.04 EPS for the quarter, topping analysts’ consensus estimates of $5.34 by $4.70, FiscalAI reports. The company had revenue of $12.15 billion for the quarter, compared to the consensus estimate of $11.26 billion. Travelers Companies had a net margin of 15.54% and a return on equity of 24.06%.

Travelers Companies Stock Up 2.3%

Shares of Travelers Companies stock opened at $336.89 on Friday. The stock’s fifty day moving average is $312.92 and its 200-day moving average is $301.03. The firm has a market capitalization of $71.64 billion, a PE ratio of 10.02, a price-to-earnings-growth ratio of 2.94 and a beta of 0.46. The company has a quick ratio of 0.35, a current ratio of 0.35 and a debt-to-equity ratio of 0.29. Travelers Companies has a 12-month low of $251.30 and a 12-month high of $349.35.

Insiders Place Their Bets

In related news, EVP Diane Kurtzman sold 2,867 shares of the stock in a transaction on Monday, April 20th. The stock was sold at an average price of $303.45, for a total value of $869,991.15. Following the completion of the transaction, the executive vice president owned 5,298 shares in the company, valued at $1,607,678.10. This trade represents a 35.11% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Avrohom J. Kess sold 6,735 shares of the business’s stock in a transaction dated Tuesday, April 28th. The stock was sold at an average price of $308.78, for a total value of $2,079,633.30. Following the sale, the insider owned 48,737 shares in the company, valued at approximately $15,049,010.86. The trade was a 12.14% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 37,573 shares of company stock worth $11,504,146 over the last three months. Company insiders own 1.39% of the company’s stock.

Institutional Investors Weigh In On Travelers Companies

Large investors have recently made changes to their positions in the company. Brighton Jones LLC lifted its holdings in shares of Travelers Companies by 13.4% in the fourth quarter. Brighton Jones LLC now owns 3,277 shares of the insurance provider’s stock valued at $789,000 after purchasing an additional 387 shares in the last quarter. Revolve Wealth Partners LLC acquired a new position in Travelers Companies during the fourth quarter valued at $276,000. WINTON GROUP Ltd purchased a new stake in Travelers Companies in the 2nd quarter worth about $382,000. CIBC Asset Management Inc lifted its stake in Travelers Companies by 13.9% in the 2nd quarter. CIBC Asset Management Inc now owns 68,537 shares of the insurance provider’s stock worth $18,336,000 after acquiring an additional 8,383 shares in the last quarter. Finally, Treasurer of the State of North Carolina boosted its position in Travelers Companies by 2.0% during the 2nd quarter. Treasurer of the State of North Carolina now owns 105,605 shares of the insurance provider’s stock worth $28,254,000 after acquiring an additional 2,117 shares during the period. Institutional investors and hedge funds own 82.45% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on TRV shares. Piper Sandler increased their price objective on shares of Travelers Companies to $340.00 and gave the company an “overweight” rating in a report on Monday. Wells Fargo & Company boosted their target price on Travelers Companies from $295.00 to $334.00 and gave the stock an “equal weight” rating in a report on Thursday, July 9th. Evercore set a $329.00 target price on Travelers Companies and gave the stock an “in-line” rating in a research report on Friday, July 10th. Bank of America decreased their price target on Travelers Companies from $259.00 to $257.00 and set an “underperform” rating for the company in a research note on Tuesday, April 14th. Finally, Raymond James Financial reissued a “strong-buy” rating on shares of Travelers Companies in a research note on Monday, July 6th. Three analysts have rated the stock with a Strong Buy rating, five have given a Buy rating, twelve have assigned a Hold rating and five have given a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $329.11.

Travelers Companies Company Profile

The Travelers Companies, Inc (NYSE: TRV) is a leading provider of property and casualty insurance products and services. The company underwrites a broad range of commercial and personal insurance lines, offering coverage designed to protect individuals, small and midsize businesses, and large corporate clients against property loss, liability, and other operational risks. Travelers is known for combining underwriting, claims management and risk control services to help clients prevent losses and recover when incidents occur.

On the commercial side, Travelers writes primary and specialty coverages including property, general liability, commercial auto, workers’ compensation, professional and management liability, surety and inland marine.