Travelers Companies (NYSE:TRV) Issues Earnings Results

Key Points

• Travelers Companies beat quarterly expectations, reporting EPS of $10.04 versus the $5.34 consensus estimate and revenue of $12.15 billion, above the $11.26 billion forecast.
• The stock was up 2.3% on the news, and shares opened at $336.89 as investors reacted to the stronger-than-expected results.
• Analyst views remain mixed: Cantor Fitzgerald and Truist raised price targets, while Morgan Stanley downgraded the stock; the overall consensus rating is Hold with an average target price of $329.11.

Travelers Companies (NYSE:TRV - Get Free Report) issued its quarterly earnings data 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 firm had revenue of $12.15 billion for the quarter, compared to analyst estimates of $11.26 billion. Travelers Companies had a net margin of 15.54% and a return on equity of 24.06%.

Travelers Companies Trading Up 2.3%

NYSE:TRV opened at $336.89 on Friday. The firm has a market capitalization of $71.64 billion, a P/E ratio of 10.02, a P/E/G ratio of 2.94 and a beta of 0.46. The business has a 50 day simple moving average of $312.92 and a 200 day simple moving average of $301.03. The company has a debt-to-equity ratio of 0.29, a current ratio of 0.35 and a quick ratio of 0.35. Travelers Companies has a 12-month low of $251.30 and a 12-month high of $349.35.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on TRV shares. Cantor Fitzgerald increased their price target on Travelers Companies from $335.00 to $360.00 and gave the company an "overweight" rating in a report on Thursday, July 9th. Morgan Stanley downgraded shares of Travelers Companies from an "equal weight" rating to an "underweight" rating and reduced their price objective for the company from $333.00 to $290.00 in a research note on Wednesday. Weiss Ratings restated a "buy (a-)" rating on shares of Travelers Companies in a research note on Friday, May 8th. Wells Fargo & Company increased their price target on shares of Travelers Companies from $295.00 to $334.00 and gave the stock an "equal weight" rating in a research report on Thursday, July 9th. Finally, Truist Financial began coverage on Travelers Companies in a research note on Friday, July 10th. They issued a "buy" rating and a $395.00 price target for the company. Three equities research analysts have rated the stock with a Strong Buy rating, five have given a Buy rating, twelve have given a Hold rating and five have issued a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $329.11.

Insider Transactions at Travelers Companies

In related news, EVP Diane Kurtzman sold 2,867 shares of the stock in a transaction dated Monday, April 20th. The shares were sold at an average price of $303.45, for a total value of $869,991.15. Following the sale, the executive vice president owned 5,298 shares of the company's stock, valued at $1,607,678.10. This trade represents a 35.11% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Michael Frederick Klein sold 10,000 shares of Travelers Companies stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $307.65, for a total transaction of $3,076,500.00. Following the completion of the sale, the executive vice president owned 45,125 shares in the company, valued at approximately $13,882,706.25. This represents a 18.14% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 37,573 shares of company stock valued at $11,504,146 over the last three months. 1.39% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of TRV. Cim LLC grew its holdings in Travelers Companies by 0.4% in the 4th quarter. Cim LLC now owns 8,145 shares of the insurance provider's stock worth $2,363,000 after buying an additional 34 shares in the last quarter. Haverford Trust Co boosted its position in Travelers Companies by 0.7% during the 4th quarter. Haverford Trust Co now owns 5,210 shares of the insurance provider's stock worth $1,511,000 after acquiring an additional 35 shares during the period. Sumitomo Life Insurance Co. grew its stake in shares of Travelers Companies by 0.7% in the fourth quarter. Sumitomo Life Insurance Co. now owns 5,236 shares of the insurance provider's stock worth $1,519,000 after purchasing an additional 35 shares in the last quarter. Quadrant Capital Group LLC grew its stake in shares of Travelers Companies by 0.6% in the fourth quarter. Quadrant Capital Group LLC now owns 6,517 shares of the insurance provider's stock worth $1,890,000 after purchasing an additional 39 shares in the last quarter. Finally, L2 Asset Management LLC increased its holdings in shares of Travelers Companies by 4.1% during the third quarter. L2 Asset Management LLC now owns 1,044 shares of the insurance provider's stock valued at $292,000 after purchasing an additional 41 shares during the period. Institutional investors own 82.45% of the company's stock.

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.

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