The Travelers Cos. (TRV) Hits New 12-Month High at $119.32
The Travelers Cos. (NYSE:TRV)’s share price reached a new 52-week high on Friday . The stock traded as high as $119.32 and last traded at $118.44, with a volume of 506,255 shares changing hands. The stock had previously closed at $118.35.
TRV has been the topic of several research reports. Macquarie restated an “underperform” rating and issued a $92.00 target price on shares of The Travelers Cos. in a research report on Wednesday, June 8th. Bank of America Corp. upgraded The Travelers Cos. from a “neutral” rating to a “buy” rating and set a $127.00 target price on the stock in a research report on Tuesday, June 28th. They noted that the move was a valuation call. Zacks Investment Research upgraded The Travelers Cos. from a “sell” rating to a “hold” rating in a research report on Wednesday. RBC Capital Markets reiterated an “outperform” rating and set a $125.00 price objective (up previously from $120.00) on shares of The Travelers Cos. in a research report on Sunday, July 24th. Finally, Credit Suisse Group AG reiterated a “hold” rating and set a $111.00 price objective on shares of The Travelers Cos. in a research report on Tuesday, August 23rd. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and five have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $117.17.
The firm has a market capitalization of $34.26 billion and a P/E ratio of 11.44. The stock has a 50 day moving average price of $117.66 and a 200 day moving average price of $114.37.
The Travelers Cos. (NYSE:TRV) last issued its quarterly earnings results on Thursday, July 21st. The company reported $2.24 earnings per share for the quarter, topping analysts’ consensus estimates of $2.19 by $0.05. The business had revenue of $6.79 billion for the quarter, compared to analysts’ expectations of $6.37 billion. The company’s revenue for the quarter was up 2.3% compared to the same quarter last year. During the same period in the prior year, the company earned $2.52 EPS. On average, analysts predict that The Travelers Cos. will post $9.51 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 30th. Shareholders of record on Friday, September 9th will be paid a dividend of $0.67 per share. This represents a $2.68 dividend on an annualized basis and a dividend yield of 2.26%. The ex-dividend date of this dividend is Wednesday, September 7th.
In related news, COO Brian W. Maclean sold 38,507 shares of the stock in a transaction on Friday, July 29th. The stock was sold at an average price of $116.85, for a total value of $4,499,542.95. Following the transaction, the chief operating officer now directly owns 145,001 shares of the company’s stock, valued at approximately $16,943,366.85. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Jay S. Benet sold 5,797 shares of the stock in a transaction on Monday, June 6th. The stock was sold at an average price of $114.76, for a total value of $665,263.72. Following the completion of the transaction, the chief financial officer now directly owns 66,905 shares in the company, valued at $7,678,017.80. The disclosure for this sale can be found here.
An institutional investor recently raised its position in The Travelers Cos. stock. Schwab Charles Investment Management Inc. boosted its stake in The Travelers Cos. (NYSE:TRV) by 2.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,333,346 shares of the company’s stock after buying an additional 28,153 shares during the period. Schwab Charles Investment Management Inc. owned 0.45% of The Travelers Cos. worth $150,482,000 at the end of the most recent quarter.
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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