Brokers Offer Predictions for The Travelers Cos.’s FY2016 Earnings (TRV)
The Travelers Cos. (NYSE:TRV) – Langen Mcalenn raised their FY2016 earnings estimates for shares of The Travelers Cos. in a research report issued to clients and investors on Tuesday. Langen Mcalenn analyst L. Greenberg now expects that the brokerage will post earnings of $9.70 per share for the year, up from their previous forecast of $9.60. Langen Mcalenn also issued estimates for The Travelers Cos.’s Q4 2016 earnings at $2.51 EPS.
TRV has been the subject of a number of other research reports. Citigroup Inc. upped their target price on The Travelers Cos. from $117.00 to $123.00 and gave the stock a “neutral” rating in a report on Tuesday. Credit Suisse Group AG set a $111.00 target price on The Travelers Cos. and gave the stock a “hold” rating in a report on Monday, September 12th. Bank of America Corp. raised The Travelers Cos. from a “neutral” rating to a “buy” rating and set a $127.00 target price for the company in a report on Tuesday, June 28th. They noted that the move was a valuation call. Barclays PLC reissued an “equal weight” rating and issued a $109.00 price target (up previously from $105.00) on shares of The Travelers Cos. in a research note on Saturday, October 1st. Finally, BMO Capital Markets reissued a “market perform” rating and issued a $120.00 price target (up previously from $117.00) on shares of The Travelers Cos. in a research note on Tuesday, July 12th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and four have given a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $117.00.
Shares of The Travelers Cos. (NYSE:TRV) opened at 115.08 on Friday. The Travelers Cos. has a 12 month low of $101.23 and a 12 month high of $119.32. The company has a 50-day moving average price of $115.51 and a 200-day moving average price of $115.06. The firm has a market cap of $33.18 billion, a price-to-earnings ratio of 11.08 and a beta of 1.14.
The Travelers Cos. (NYSE:TRV) last announced its earnings results on Thursday, July 21st. The company reported $2.24 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $2.19 by $0.05. The Travelers Cos. had a return on equity of 13.06% and a net margin of 11.70%. The business had revenue of $6.79 billion for the quarter, compared to analyst estimates of $6.37 billion. During the same quarter last year, the firm earned $2.52 EPS. The Travelers Cos.’s revenue for the quarter was up 2.3% compared to the same quarter last year.
Hedge funds and other institutional investors have recently made changes to their positions in the company. Advisor Consultant Network Inc. bought a new position in The Travelers Cos. during the third quarter worth $211,000. Webster Bank N. A. raised its position in The Travelers Cos. by 0.9% in the third quarter. Webster Bank N. A. now owns 42,679 shares of the company’s stock worth $4,889,000 after buying an additional 370 shares in the last quarter. National Pension Service raised its position in The Travelers Cos. by 8.7% in the third quarter. National Pension Service now owns 210,391 shares of the company’s stock worth $24,100,000 after buying an additional 16,818 shares in the last quarter. Stock Yards Bank & Trust Co. raised its position in The Travelers Cos. by 1.2% in the third quarter. Stock Yards Bank & Trust Co. now owns 4,920 shares of the company’s stock worth $564,000 after buying an additional 58 shares in the last quarter. Finally, Canandaigua National Bank & Trust Co. raised its position in The Travelers Cos. by 8.7% in the third quarter. Canandaigua National Bank & Trust Co. now owns 18,528 shares of the company’s stock worth $2,122,000 after buying an additional 1,480 shares in the last quarter. Institutional investors and hedge funds own 80.13% of the company’s stock.
In other The Travelers Cos. news, Vice Chairman Jay S. Benet sold 5,797 shares of the stock in a transaction that occurred on Monday, July 25th. The stock was sold at an average price of $116.64, for a total value of $676,162.08. Following the transaction, the insider now owns 71,352 shares in the company, valued at $8,322,497.28. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, SVP Douglas K. Russell sold 2,698 shares of the stock in a transaction that occurred on Monday, July 25th. The stock was sold at an average price of $117.17, for a total value of $316,124.66. Following the completion of the transaction, the senior vice president now owns 19,727 shares in the company, valued at approximately $2,311,412.59. The disclosure for this sale can be found here. 1.34% of the stock is owned by company insiders.
The company also recently declared a quarterly dividend, which was paid on Friday, September 30th. Shareholders of record on Friday, September 9th were issued a $0.67 dividend. The ex-dividend date of this dividend was Wednesday, September 7th. This represents a $2.68 annualized dividend and a yield of 2.33%. The Travelers Cos.’s payout ratio is currently 25.92%.
The Travelers Cos. Company Profile
The Travelers Companies, Inc is a holding company. The Company, through its subsidiaries, is engaged in providing a range of commercial and personal property and casualty insurance products and services to businesses, government units, associations and individuals. It operates through three segments: Business and International Insurance; Bond & Specialty Insurance, and Personal Insurance.
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