Key Points
- CEO Alan Schnitzer sold 55,733 shares on Feb. 4 at an average price of $294.70 for about $16.42 million, reducing his stake by 17.63% to 260,329 shares (≈$76.7M).
- Travelers beat expectations with $11.13 EPS (vs. $8.34 est.) and $12.43B revenue, and the board authorized a $5.0 billion share repurchase (≈8.3% of shares) while declaring a $1.10 quarterly dividend ($4.40 annual, 1.5% yield).
The Travelers Companies, Inc. (NYSE:TRV - Get Free Report) CEO Alan Schnitzer sold 55,733 shares of the stock in a transaction that occurred on Wednesday, February 4th. The stock was sold at an average price of $294.70, for a total value of $16,424,515.10. Following the completion of the sale, the chief executive officer directly owned 260,329 shares of the company's stock, valued at approximately $76,718,956.30. This trade represents a 17.63% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.
Travelers Companies Price Performance
TRV opened at $300.18 on Friday. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.33 and a quick ratio of 0.35. The firm's fifty day moving average price is $284.69 and its two-hundred day moving average price is $277.55. The Travelers Companies, Inc. has a 1 year low of $230.43 and a 1 year high of $302.38. The company has a market capitalization of $66.96 billion, a price-to-earnings ratio of 10.90, a P/E/G ratio of 2.74 and a beta of 0.51.
Travelers Companies (NYSE:TRV - Get Free Report) last issued its quarterly earnings data on Wednesday, January 21st. The insurance provider reported $11.13 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $8.34 by $2.79. Travelers Companies had a net margin of 12.88% and a return on equity of 20.70%. The business had revenue of $12.43 billion during the quarter, compared to the consensus estimate of $11.13 billion. During the same period in the prior year, the firm posted $9.15 EPS. The firm's quarterly revenue was up 3.5% compared to the same quarter last year. As a group, analysts anticipate that The Travelers Companies, Inc. will post 17.02 earnings per share for the current fiscal year.
Travelers Companies Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Tuesday, March 10th will be paid a $1.10 dividend. This represents a $4.40 dividend on an annualized basis and a yield of 1.5%. The ex-dividend date is Tuesday, March 10th. Travelers Companies's payout ratio is currently 15.98%.
Travelers Companies declared that its board has authorized a stock repurchase program on Wednesday, January 21st that allows the company to repurchase $5.00 billion in shares. This repurchase authorization allows the insurance provider to buy up to 8.3% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company's leadership believes its shares are undervalued.
Wall Street Analysts Forecast Growth
A number of equities analysts have recently commented on the stock. JPMorgan Chase & Co. raised their price objective on shares of Travelers Companies from $302.00 to $305.00 and gave the company an "underweight" rating in a research report on Wednesday, January 7th. The Goldman Sachs Group cut shares of Travelers Companies from a "buy" rating to a "neutral" rating and set a $304.00 price objective for the company. in a research note on Wednesday, January 7th. Keefe, Bruyette & Woods upped their price target on shares of Travelers Companies from $317.00 to $320.00 and gave the company an "outperform" rating in a report on Friday, January 23rd. Mizuho dropped their price target on Travelers Companies from $315.00 to $304.00 and set a "neutral" rating for the company in a research note on Thursday, January 22nd. Finally, Wells Fargo & Company lowered their price target on shares of Travelers Companies from $307.00 to $285.00 and set an "equal weight" rating for the company in a research report on Thursday, January 22nd. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, eleven have assigned a Hold rating and two have assigned a Sell rating to the company's stock. According to data from MarketBeat.com, Travelers Companies currently has a consensus rating of "Hold" and an average target price of $303.00.
Read Our Latest Research Report on Travelers Companies
Hedge Funds Weigh In On Travelers Companies
Several large investors have recently added to or reduced their stakes in the company. Handelsbanken Fonder AB increased its stake in Travelers Companies by 8.1% in the 4th quarter. Handelsbanken Fonder AB now owns 79,642 shares of the insurance provider's stock worth $23,101,000 after buying an additional 5,975 shares in the last quarter. ProShare Advisors LLC grew its stake in shares of Travelers Companies by 13.6% in the 4th quarter. ProShare Advisors LLC now owns 164,558 shares of the insurance provider's stock worth $47,732,000 after buying an additional 19,702 shares in the last quarter. HighTower Advisors LLC raised its position in Travelers Companies by 1.2% during the fourth quarter. HighTower Advisors LLC now owns 175,484 shares of the insurance provider's stock valued at $50,901,000 after purchasing an additional 2,143 shares during the period. Envestnet Portfolio Solutions Inc. raised its holdings in Travelers Companies by 2.5% during the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 8,407 shares of the insurance provider's stock valued at $2,439,000 after buying an additional 202 shares during the period. Finally, Entrust Financial LLC bought a new stake in Travelers Companies in the fourth quarter worth $31,000. Hedge funds and other institutional investors own 82.45% of the company's stock.
About Travelers Companies
(
Get Free Report)
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.
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