Traders Buy The Travelers Cos. (TRV) on Weakness
Traders bought shares of The Travelers Cos. (NYSE:TRV) on weakness during trading hours on Thursday. $52.61 million flowed into the stock on the tick-up and $25.62 million flowed out of the stock on the tick-down, for a money net flow of $26.99 million into the stock. Of all stocks tracked, The Travelers Cos. had the 7th highest net in-flow for the day. The Travelers Cos. traded down ($0.10) for the day and closed at $117.88
Several analysts have recently weighed in on TRV shares. Bank of America Corp. raised shares of The Travelers Cos. from a “neutral” rating to a “buy” rating and set a $127.00 price target for the company in a research note on Tuesday, June 28th. They noted that the move was a valuation call. Royal Bank Of Canada boosted their price objective on shares of The Travelers Cos. from $118.00 to $121.00 and gave the stock an “outperform” rating in a research note on Friday, April 22nd. Citigroup Inc. reissued a “neutral” rating on shares of The Travelers Cos. in a research note on Tuesday, June 21st. Zacks Investment Research downgraded shares of The Travelers Cos. from a “hold” rating to a “sell” rating in a research note on Wednesday, June 29th. Finally, Macquarie reissued an “underperform” rating and issued a $92.00 price objective on shares of The Travelers Cos. in a research note on Wednesday, June 8th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and five have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $117.73.
The firm’s 50 day moving average price is $116.47 and its 200 day moving average price is $112.61. The company has a market cap of $34.18 billion and a PE ratio of 11.41.
The Travelers Cos. (NYSE:TRV) last posted its quarterly earnings data on Thursday, July 21st. The company reported $2.24 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.19 by $0.05. During the same period in the previous year, the business posted $2.52 EPS. The company had revenue of $6.79 billion for the quarter, compared to analysts’ expectations of $6.37 billion. The business’s revenue for the quarter was up 2.3% on a year-over-year basis. On average, equities research analysts predict that The Travelers Cos. will post $9.51 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 30th. Investors of record on Friday, September 9th will be given a dividend of $0.67 per share. The ex-dividend date is Wednesday, September 7th. This represents a $2.68 dividend on an annualized basis and a dividend yield of 2.26%.
In other The Travelers Cos. news, Vice Chairman Doreen Spadorcia sold 26,240 shares of the stock in a transaction that occurred on Thursday, May 12th. The shares were sold at an average price of $112.24, for a total transaction of $2,945,177.60. Following the sale, the insider now directly owns 47,520 shares in the company, valued at approximately $5,333,644.80. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, COO Brian W. Maclean sold 38,507 shares of the stock in a transaction that occurred on Friday, July 29th. The stock was sold at an average price of $116.85, for a total transaction of $4,499,542.95. Following the sale, the chief operating officer now owns 145,001 shares in the company, valued at $16,943,366.85. The disclosure for this sale can be found here.
A number of large investors have added to or reduced their stakes in TRV. Mitsubishi UFJ Kokusai Asset Management CO. LTD. raised its stake in The Travelers Cos. by 370.7% in the fourth quarter. Mitsubishi UFJ Kokusai Asset Management CO. LTD. now owns 242,865 shares of the company’s stock worth $27,410,000 after buying an additional 191,264 shares during the period. Dimensional Fund Advisors LP raised its stake in The Travelers Cos. by 2.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,681,230 shares of the company’s stock worth $302,633,000 after buying an additional 53,851 shares during the period. Matarin Capital Management LLC acquired a new stake in The Travelers Cos. during the fourth quarter worth about $3,820,000. Cambridge Investment Research Advisors Inc. acquired a new stake in The Travelers Cos. during the fourth quarter worth about $2,152,000. Finally, OppenheimerFunds Inc. acquired a new stake in The Travelers Cos. during the fourth quarter worth about $1,592,000.
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.
Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.