The Travelers Companies, Inc. (NYSE:TRV) – Piper Sandler cut their Q3 2021 earnings estimates for shares of The Travelers Companies in a research report issued on Tuesday, July 20th. Piper Sandler analyst P. Newsome now expects that the insurance provider will earn $2.67 per share for the quarter, down from their prior forecast of $2.97. Piper Sandler also issued estimates for The Travelers Companies’ Q4 2021 earnings at $3.55 EPS, Q1 2022 earnings at $3.51 EPS, Q2 2022 earnings at $2.44 EPS, Q3 2022 earnings at $3.16 EPS, Q4 2022 earnings at $3.69 EPS and FY2022 earnings at $12.80 EPS.
The Travelers Companies (NYSE:TRV) last announced its quarterly earnings data on Monday, July 19th. The insurance provider reported $3.45 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.39 by $1.06. The company had revenue of $7.62 billion for the quarter, compared to the consensus estimate of $7.53 billion. The Travelers Companies had a net margin of 11.30% and a return on equity of 12.71%. The Travelers Companies’s revenue for the quarter was up 9.5% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.20) EPS.
TRV opened at $151.84 on Thursday. The company’s 50-day moving average is $154.36. The Travelers Companies has a 52-week low of $105.67 and a 52-week high of $162.71. The company has a quick ratio of 0.37, a current ratio of 0.38 and a debt-to-equity ratio of 0.25. The company has a market cap of $38.18 billion, a PE ratio of 10.63, a P/E/G ratio of 2.16 and a beta of 0.74.
A number of large investors have recently added to or reduced their stakes in the stock. Price T Rowe Associates Inc. MD grew its stake in shares of The Travelers Companies by 591.8% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 3,219,706 shares of the insurance provider’s stock valued at $451,950,000 after purchasing an additional 2,754,283 shares during the last quarter. Norges Bank acquired a new stake in shares of The Travelers Companies in the 4th quarter valued at approximately $261,919,000. Capital International Investors raised its holdings in The Travelers Companies by 9.0% during the first quarter. Capital International Investors now owns 16,498,274 shares of the insurance provider’s stock worth $2,481,340,000 after purchasing an additional 1,360,774 shares during the last quarter. Canada Pension Plan Investment Board raised its holdings in The Travelers Companies by 394.3% during the fourth quarter. Canada Pension Plan Investment Board now owns 636,250 shares of the insurance provider’s stock worth $89,310,000 after purchasing an additional 507,540 shares during the last quarter. Finally, Cullen Capital Management LLC raised its holdings in shares of The Travelers Companies by 291.0% in the first quarter. Cullen Capital Management LLC now owns 666,326 shares of the insurance provider’s stock worth $100,215,000 after acquiring an additional 495,899 shares during the last quarter. Hedge funds and other institutional investors own 82.27% of the company’s stock.
In related news, EVP Michael Frederick Klein sold 10,000 shares of the stock in a transaction dated Thursday, May 13th. The stock was sold at an average price of $156.41, for a total transaction of $1,564,100.00. Following the transaction, the executive vice president now owns 14,275 shares of the company’s stock, valued at approximately $2,232,752.75. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Gregory C. Toczydlowski sold 38,013 shares of the stock in a transaction dated Tuesday, May 4th. The shares were sold at an average price of $157.79, for a total value of $5,998,071.27. Following the completion of the sale, the executive vice president now directly owns 51,232 shares in the company, valued at approximately $8,083,897.28. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 62,874 shares of company stock valued at $9,939,953. Company insiders own 0.92% of the company’s stock.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 30th. Stockholders of record on Friday, September 10th will be issued a dividend of $0.88 per share. This represents a $3.52 dividend on an annualized basis and a dividend yield of 2.32%. The ex-dividend date of this dividend is Thursday, September 9th. The Travelers Companies’s dividend payout ratio is presently 33.59%.
The Travelers Companies declared that its board has authorized a share buyback program on Tuesday, April 20th that authorizes the company to repurchase $5.00 billion in shares. This repurchase authorization authorizes the insurance provider to repurchase up to 12.8% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s leadership believes its stock is undervalued.
The Travelers Companies Company Profile
The Travelers Companies, Inc, through its subsidiaries, provides a range of commercial and personal property, and casualty insurance products and services to businesses, government units, associations, and individuals in the United states and internationally. The company operates through three segments: Business Insurance, Bond & Specialty Insurance, and Personal Insurance.
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