Zacks: Brokerages Expect The Travelers Companies, Inc. (TRV) Will Announce Quarterly Sales of $7.04 Billion
Analysts forecast that The Travelers Companies, Inc. (NYSE:TRV) will announce $7.04 billion in sales for the current quarter, according to Zacks Investment Research. Four analysts have provided 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 in 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 earnings results before the market opens on Thursday, October 19th.
On average, analysts expect that The Travelers Companies will report full-year sales of $7.04 billion for the current financial year, with estimates ranging from $27.28 billion to $28.36 billion. For the next financial year, analysts anticipate that the business will post sales of $28.92 billion per share, with estimates ranging from $28.18 billion to $29.58 billion. Zacks Investment Research’s sales calculations are an average based on a survey of research analysts 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 Zacks’ consensus estimate of $2.07 by ($0.15). The business had revenue of $6.35 billion during the quarter, compared to analyst estimates of $6.31 billion. The Travelers Companies had a net margin of 10.15% and a return on equity of 11.68%. The firm’s quarterly revenue was up 4.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.20 earnings per share.
A number of research analysts have recently commented on TRV shares. Barclays PLC boosted their target price on shares of The Travelers Companies from $119.00 to $122.00 and gave the stock an “equal weight” rating in a research report on Friday, August 11th. BidaskClub lowered shares of The Travelers Companies from a “sell” rating to a “strong sell” rating in a report on Tuesday, August 1st. Vetr raised shares of The Travelers Companies from a “hold” rating to a “buy” rating and set a $132.68 price target for the company in a report on Tuesday, June 27th. Zacks Investment Research downgraded shares of The Travelers Companies from a “hold” rating to a “sell” rating in a research note on Tuesday, September 5th. Finally, Bank of America Corporation downgraded shares of The Travelers Companies from a “buy” rating to a “neutral” rating and lifted their price target for the stock from $120.62 to $129.44 in a research note on Monday, June 19th. Five investment analysts have rated the stock with a sell rating, nine have issued a hold rating and eight have given a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $126.18.
In other The Travelers Companies news, Vice Chairman Jay S. Benet sold 5,518 shares of the stock in a transaction on Monday, July 10th. The shares were sold at an average price of $126.57, for a total transaction of $698,413.26. Following the sale, the insider now directly owns 82,824 shares of the company’s stock, valued at $10,483,033.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Michael Frederick Klein sold 10,051 shares of the stock in a transaction on Tuesday, July 25th. The stock was sold at an average price of $127.47, for a total transaction of $1,281,200.97. Following the sale, the executive vice president now directly owns 1,542 shares in the company, valued at $196,558.74. The disclosure for this sale can be found here. Insiders have sold 133,841 shares of company stock worth $17,135,116 over the last 90 days. 0.82% of the stock is currently owned by company insiders.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. CWM LLC raised its stake in The Travelers Companies by 4.9% during the second quarter. CWM LLC now owns 794 shares of the insurance provider’s stock worth $100,000 after acquiring an additional 37 shares during the period. Westside Investment Management Inc. lifted its holdings in The Travelers Companies by 361.1% in the first quarter. Westside Investment Management Inc. now owns 876 shares of the insurance provider’s stock worth $106,000 after acquiring an additional 686 shares during the last quarter. First Personal Financial Services lifted its holdings in The Travelers Companies by 133.3% in the first quarter. First Personal Financial Services now owns 889 shares of the insurance provider’s stock worth $107,000 after acquiring an additional 508 shares during the last quarter. Tradewinds Capital Management LLC lifted its holdings in The Travelers Companies by 1.1% in the second quarter. Tradewinds Capital Management LLC now owns 905 shares of the insurance provider’s stock worth $115,000 after acquiring an additional 10 shares during the last quarter. Finally, Intellectus Partners LLC lifted its holdings in The Travelers Companies by 4.6% in the second quarter. Intellectus Partners LLC now owns 933 shares of the insurance provider’s stock worth $118,000 after acquiring an additional 41 shares during the last quarter. 77.48% of the stock is owned by institutional investors and hedge funds.
The Travelers Companies (TRV) opened at 122.52 on Monday. The stock’s 50 day moving average price is $124.75 and its 200 day moving average price is $123.78. The Travelers Companies has a 52-week low of $103.45 and a 52-week high of $130.37. The firm has a market capitalization of $33.81 billion, a PE ratio of 12.20 and a beta of 1.20.
The Travelers Companies declared that its Board of Directors has initiated a stock buyback program on Monday, September 11th that permits the company to buyback outstanding shares. This buyback authorization permits the insurance provider to purchase shares of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board of directors believes its stock is undervalued.
The company also recently declared a quarterly dividend, which was paid on Friday, September 29th. Stockholders of record on Friday, September 8th were issued a $0.72 dividend. The ex-dividend date was Thursday, September 7th. This represents a $2.88 dividend on an annualized basis and a dividend yield of 2.35%. The Travelers Companies’s dividend payout ratio (DPR) is 28.77%.
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The Travelers Companies Company Profile
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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