$7.04 Billion in Sales Expected for The Travelers Companies, Inc. (TRV) This Quarter
Wall Street brokerages expect The Travelers Companies, Inc. (NYSE:TRV) to report $7.04 billion in sales for the current quarter, according to Zacks Investment Research. Four analysts have made estimates for The Travelers Companies’ earnings, with the lowest sales estimate coming in at $6.87 billion and the highest estimate coming in at $7.15 billion. The Travelers Companies posted sales of $6.94 billion during the same quarter last year, which would indicate a positive year over year growth rate of 1.4%. The firm is expected to issue its next quarterly earnings results before the market opens on Thursday, October 19th.
According to Zacks, analysts expect that The Travelers Companies will report full year sales of $7.04 billion for the current year, with estimates ranging from $27.28 billion to $28.36 billion. For the next financial year, analysts forecast that the business will post sales of $28.92 billion per share, with estimates ranging from $28.18 billion to $29.58 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side research firms that that provide coverage for The Travelers Companies.
The Travelers Companies (NYSE:TRV) last posted its quarterly earnings results on Thursday, July 20th. The insurance provider reported $1.92 earnings per share for the quarter, missing the Thomson Reuters’ 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 business had revenue of $6.35 billion during the quarter, compared to the consensus estimate of $6.31 billion. During the same quarter in the previous year, the company earned $2.20 earnings per share. The company’s revenue for the quarter was up 4.7% compared to the same quarter last year.
Several equities analysts recently weighed in on TRV shares. Citigroup Inc. raised their price objective on The Travelers Companies from $140.00 to $150.00 and gave the company a “buy” rating in a research note on Thursday, July 13th. Vetr raised The Travelers Companies from a “hold” rating to a “buy” rating and set a $132.68 price objective for the company in a research note on Tuesday, June 27th. Bank of America Corporation downgraded The Travelers Companies from a “buy” rating to a “neutral” rating and raised their price objective for the company from $120.62 to $129.44 in a research note on Monday, June 19th. Morgan Stanley reaffirmed an “underweight” rating and issued a $119.00 price objective (up from $112.00) on shares of The Travelers Companies in a research note on Friday, July 7th. Finally, BidaskClub downgraded The Travelers Companies from a “buy” rating to a “hold” rating in a research note on Wednesday, July 12th. Five investment analysts have rated the stock with a sell rating, seven have given a hold rating and six have issued a buy rating to the stock. The Travelers Companies presently has an average rating of “Hold” and a consensus target price of $124.65.
The Travelers Companies (NYSE:TRV) traded up 0.72% on Friday, reaching $126.47. The company’s stock had a trading volume of 1,332,234 shares. The company has a market capitalization of $34.90 billion, a price-to-earnings ratio of 12.59 and a beta of 1.20. The Travelers Companies has a 12-month low of $103.45 and a 12-month high of $130.37. The firm has a 50-day moving average of $127.33 and a 200 day moving average of $123.86.
The business also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Friday, September 8th will be issued a dividend of $0.72 per share. This represents a $2.88 dividend on an annualized basis and a yield of 2.28%. The ex-dividend date is Thursday, September 7th. The Travelers Companies’s dividend payout ratio (DPR) is presently 28.77%.
In other news, Vice Chairman William H. Heyman sold 8,000 shares of the firm’s stock in a transaction on Wednesday, May 31st. The stock was sold at an average price of $124.38, for a total transaction of $995,040.00. Following the sale, the insider now owns 241,744 shares in the company, valued at $30,068,118.72. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Vice Chairman Jay S. Benet sold 16,566 shares of the firm’s stock in a transaction on Wednesday, August 9th. The stock was sold at an average price of $130.01, for a total value of $2,153,745.66. Following the sale, the insider now owns 93,872 shares in the company, valued at approximately $12,204,298.72. The disclosure for this sale can be found here. In the last quarter, insiders have sold 177,617 shares of company stock worth $22,647,198. 0.82% of the stock is owned by insiders.
Several large investors have recently bought and sold shares of TRV. First Manhattan Co. boosted its stake in The Travelers Companies by 3.9% in the first quarter. First Manhattan Co. now owns 190,036 shares of the insurance provider’s stock valued at $21,768,000 after buying an additional 7,216 shares during the period. Teza Capital Management LLC acquired a new stake in The Travelers Companies during the first quarter valued at about $1,637,000. Lincoln National Corp acquired a new stake in The Travelers Companies during the first quarter valued at about $275,000. Janney Montgomery Scott LLC boosted its stake in The Travelers Companies by 5.4% in the first quarter. Janney Montgomery Scott LLC now owns 174,890 shares of the insurance provider’s stock valued at $21,081,000 after buying an additional 8,909 shares during the period. Finally, Great Lakes Advisors LLC boosted its stake in The Travelers Companies by 50.7% in the first quarter. Great Lakes Advisors LLC now owns 109,810 shares of the insurance provider’s stock valued at $13,236,000 after buying an additional 36,923 shares during the period. Institutional investors and hedge funds own 78.24% of the company’s stock.
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About The Travelers Companies
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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