Travelers Companies (NYSE:TRV) Hits New 1-Year High Following Earnings Beat

Key Points

• Travelers Companies (NYSE: TRV) hit a new 52-week high after reporting stronger-than-expected quarterly earnings, with shares trading as high as $364.93.
• The insurer posted EPS of $10.04, far above the $5.34 consensus estimate, and revenue of $12.15 billion, also beating expectations.
• Despite the strong results, analysts remain cautious overall, with a Hold consensus rating and average price target of $329.11, below the recent trading price.

The Travelers Companies, Inc. (NYSE:TRV - Get Free Report) reached a new 52-week high during trading on Friday after the company announced better than expected quarterly earnings. The company traded as high as $364.93 and last traded at $365.0680, with a volume of 577760 shares traded. The stock had previously closed at $337.82.

The insurance provider reported $10.04 earnings per share for the quarter, topping analysts' consensus estimates of $5.34 by $4.70. Travelers Companies had a return on equity of 24.06% and a net margin of 15.54%.The firm had revenue of $12.15 billion during the quarter, compared to analysts' expectations of $11.26 billion. During the same quarter in the prior year, the business earned $6.51 EPS. Travelers Companies's quarterly revenue was up .3% compared to the same quarter last year.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on TRV shares. UBS Group raised their price target on shares of Travelers Companies from $314.00 to $350.00 and gave the company a "neutral" rating in a report on Wednesday, July 8th. Evercore set a $329.00 price objective on shares of Travelers Companies and gave the stock an "in-line" rating in a report on Friday, July 10th. Wells Fargo & Company upped their price objective on shares of Travelers Companies from $295.00 to $334.00 and gave the company an "equal weight" rating in a research report on Thursday, July 9th. Piper Sandler raised their target price on Travelers Companies to $340.00 and gave the company an "overweight" rating in a research note on Monday. Finally, Truist Financial began coverage on Travelers Companies in a research report on Friday, July 10th. They set a "buy" rating and a $395.00 target price on the stock. Three investment analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating, twelve have issued a Hold rating and five have assigned a Sell rating to the stock. According to data from MarketBeat, Travelers Companies presently has a consensus rating of "Hold" and a consensus target price of $329.11.

Insider Transactions at Travelers Companies

In other Travelers Companies news, insider Avrohom J. Kess sold 6,735 shares of the stock in a transaction on Tuesday, April 28th. The shares were sold at an average price of $308.78, for a total transaction of $2,079,633.30. Following the transaction, the insider directly owned 48,737 shares in the company, valued at $15,049,010.86. This represents a 12.14% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Diane Kurtzman sold 2,867 shares of the firm's stock in a transaction on Monday, April 20th. The stock was sold at an average price of $303.45, for a total transaction of $869,991.15. Following the transaction, the executive vice president directly owned 5,298 shares of the company's stock, valued at approximately $1,607,678.10. This represents a 35.11% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 37,573 shares of company stock valued at $11,504,146 over the last ninety days. 1.39% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Travelers Companies

A number of hedge funds have recently bought and sold shares of TRV. HHM Wealth Advisors LLC lifted its holdings in Travelers Companies by 145.7% during the 1st quarter. HHM Wealth Advisors LLC now owns 86 shares of the insurance provider's stock worth $25,000 after buying an additional 51 shares during the last quarter. Whipplewood Advisors LLC bought a new stake in shares of Travelers Companies in the 1st quarter valued at approximately $26,000. Kemnay Advisory Services Inc. acquired a new stake in shares of Travelers Companies during the 4th quarter valued at approximately $26,000. Osterweis Capital Management Inc. raised its position in shares of Travelers Companies by 1,820.0% during the 2nd quarter. Osterweis Capital Management Inc. now owns 96 shares of the insurance provider's stock valued at $26,000 after acquiring an additional 91 shares in the last quarter. Finally, Kohmann Bosshard Financial Services LLC acquired a new stake in shares of Travelers Companies during the 4th quarter valued at approximately $28,000. 82.45% of the stock is currently owned by institutional investors and hedge funds.

Travelers Companies Price Performance

The stock has a market capitalization of $77.68 billion, a P/E ratio of 10.87, a PEG ratio of 2.94 and a beta of 0.46. The company has a 50 day moving average of $312.92 and a 200-day moving average of $301.03. The company has a quick ratio of 0.35, a current ratio of 0.35 and a debt-to-equity ratio of 0.29.

About Travelers Companies

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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