The Travelers Companies, Inc. (NYSE:TRV) Earns Neutral Rating from MKM Partners
MKM Partners reiterated their neutral rating on shares of The Travelers Companies, Inc. (NYSE:TRV) in a research note issued to investors on Wednesday. MKM Partners currently has a $130.00 price target on the insurance provider’s stock, up from their previous price target of $115.00.
TRV has been the topic of several other research reports. Citigroup Inc. increased their price objective on The Travelers Companies from $140.00 to $150.00 and gave the stock a buy rating in a research note on Thursday, July 13th. BidaskClub cut The Travelers Companies from a hold rating to a sell rating in a research note on Monday, July 24th. Bank of America Corporation cut The Travelers Companies from a buy rating to a neutral rating and increased their price objective for the stock from $120.62 to $129.44 in a research note on Monday, June 19th. Keefe, Bruyette & Woods reissued a hold rating on shares of The Travelers Companies in a research note on Tuesday, June 20th. Finally, Vetr raised The Travelers Companies from a hold rating to a buy rating and set a $132.68 price objective on the stock in a research note on Tuesday, June 27th. Five analysts have rated the stock with a sell rating, seven have given a hold rating and six have given a buy rating to the company’s stock. The Travelers Companies currently has a consensus rating of Hold and an average target price of $123.79.
The Travelers Companies (NYSE:TRV) opened at 127.21 on Wednesday. The Travelers Companies has a 1-year low of $103.45 and a 1-year high of $129.60. The stock has a market cap of $35.10 billion, a PE ratio of 12.67 and a beta of 1.21. The stock has a 50 day moving average price of $126.75 and a 200-day moving average price of $122.35.
The Travelers Companies (NYSE:TRV) last announced its quarterly earnings data on Thursday, July 20th. The insurance provider reported $1.92 earnings per share (EPS) for the quarter, missing the consensus estimate 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 firm had revenue of $6.35 billion during the quarter, compared to the consensus estimate of $6.31 billion. During the same period last year, the company earned $2.20 EPS. The firm’s revenue for the quarter was up 4.7% compared to the same quarter last year. On average, equities analysts expect that The Travelers Companies will post $8.94 EPS for the current year.
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The Travelers Companies announced that its Board of Directors has approved a stock repurchase plan on Thursday, April 20th that allows the company to buyback $5.00 billion in shares. This buyback authorization allows the insurance provider to buy shares of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s management believes its stock is undervalued.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Stockholders of record on Friday, September 8th will be issued a dividend of $0.72 per share. The ex-dividend date of this dividend is Thursday, September 7th. This represents a $2.88 annualized dividend and a dividend yield of 2.26%. The Travelers Companies’s dividend payout ratio is presently 28.77%.
In other news, Vice Chairman William H. Heyman sold 7,000 shares of the stock in a transaction on Thursday, May 25th. The stock was sold at an average price of $123.48, for a total transaction of $864,360.00. Following the completion of the sale, the insider now owns 246,744 shares in the company, valued at approximately $30,467,949.12. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP John P. Clifford, Jr. sold 5,500 shares of the stock in a transaction on Friday, May 5th. The shares were sold at an average price of $120.92, for a total value of $665,060.00. The disclosure for this sale can be found here. In the last quarter, insiders have sold 125,049 shares of company stock valued at $15,706,306. Company insiders own 0.82% of the company’s stock.
Hedge funds have recently modified their holdings of the stock. CWM LLC raised its stake in shares of The Travelers Companies by 4.9% in the second quarter. CWM LLC now owns 794 shares of the insurance provider’s stock valued at $100,000 after buying an additional 37 shares in the last quarter. Westside Investment Management Inc. raised its stake in shares of The Travelers Companies by 361.1% in the first quarter. Westside Investment Management Inc. now owns 876 shares of the insurance provider’s stock valued at $106,000 after buying an additional 686 shares in the last quarter. First Personal Financial Services raised its stake in shares of The Travelers Companies by 133.3% in the first quarter. First Personal Financial Services now owns 889 shares of the insurance provider’s stock valued at $107,000 after buying an additional 508 shares in the last quarter. Liberty Capital Management Inc. raised its stake in shares of The Travelers Companies by 434.8% in the second quarter. Liberty Capital Management Inc. now owns 1,230 shares of the insurance provider’s stock valued at $154,000 after buying an additional 1,000 shares in the last quarter. Finally, Bartlett & Co. LLC raised its stake in shares of The Travelers Companies by 30.0% in the first quarter. Bartlett & Co. LLC now owns 1,399 shares of the insurance provider’s stock valued at $169,000 after buying an additional 323 shares in the last quarter. Hedge funds and other institutional investors own 77.87% 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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