The Travelers Cos. (TRV) to Post FY2016 Earnings of $9.70 Per Share, Langen Mcalenn Forecasts
The Travelers Cos. (NYSE:TRV) – Equities researchers at Langen Mcalenn boosted their FY2016 EPS estimates for shares of The Travelers Cos. in a research note issued to investors on Tuesday. Langen Mcalenn analyst L. Greenberg now forecasts that the firm will post earnings of $9.70 per share for the year, up from their prior forecast of $9.60. Langen Mcalenn also issued estimates for The Travelers Cos.’s Q4 2016 earnings at $2.51 EPS.
The Travelers Cos. (NYSE:TRV) last announced its earnings results on Thursday, July 21st. The company reported $2.24 EPS for the quarter, beating analysts’ consensus estimates of $2.19 by $0.05. The firm had revenue of $6.79 billion for the quarter, compared to analysts’ expectations of $6.37 billion. The Travelers Cos. had a return on equity of 13.06% and a net margin of 11.70%. The Travelers Cos.’s quarterly revenue was up 2.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.52 EPS.
Other equities analysts have also recently issued research reports about the stock. Royal Bank Of Canada raised their target price on shares of The Travelers Cos. from $120.00 to $125.00 and gave the stock an “outperform” rating in a report on Friday, July 22nd. Zacks Investment Research raised shares of The Travelers Cos. from a “sell” rating to a “hold” rating in a report on Wednesday, August 31st. RBC Capital Markets reissued an “outperform” rating and issued a $125.00 target price (up previously from $120.00) on shares of The Travelers Cos. in a report on Sunday, July 24th. Citigroup Inc. reissued a “neutral” rating on shares of The Travelers Cos. in a report on Tuesday, June 21st. Finally, Barclays PLC reissued an “equal weight” rating and issued a $109.00 target price (up previously from $105.00) on shares of The Travelers Cos. in a report on Saturday, October 1st. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and four have given a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $117.00.
Shares of The Travelers Cos. (NYSE:TRV) opened at 115.08 on Friday. The Travelers Cos. has a one year low of $101.23 and a one year high of $119.32. The firm has a market cap of $33.18 billion, a PE ratio of 11.08 and a beta of 1.14. The firm’s 50-day moving average price is $115.51 and its 200-day moving average price is $115.06.
A number of institutional investors have recently bought and sold shares of the company. Advisor Consultant Network Inc. purchased a new position in The Travelers Cos. during the third quarter valued at $211,000. Webster Bank N. A. boosted its position in The Travelers Cos. by 0.9% in the third quarter. Webster Bank N. A. now owns 42,679 shares of the company’s stock valued at $4,889,000 after buying an additional 370 shares during the last quarter. National Pension Service boosted its position in The Travelers Cos. by 8.7% in the third quarter. National Pension Service now owns 210,391 shares of the company’s stock valued at $24,100,000 after buying an additional 16,818 shares during the last quarter. Stock Yards Bank & Trust Co. boosted its position in The Travelers Cos. by 1.2% in the third quarter. Stock Yards Bank & Trust Co. now owns 4,920 shares of the company’s stock valued at $564,000 after buying an additional 58 shares during the last quarter. Finally, Canandaigua National Bank & Trust Co. boosted its position in The Travelers Cos. by 8.7% in the third quarter. Canandaigua National Bank & Trust Co. now owns 18,528 shares of the company’s stock valued at $2,122,000 after buying an additional 1,480 shares during the last quarter. Hedge funds and other institutional investors own 80.13% of the company’s stock.
In other The Travelers Cos. news, SVP Douglas K. Russell sold 2,698 shares of The Travelers Cos. stock in a transaction that occurred on Monday, July 25th. The shares were sold at an average price of $117.17, for a total value of $316,124.66. Following the transaction, the senior vice president now owns 19,727 shares in the company, valued at $2,311,412.59. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Vice Chairman William H. Heyman sold 4,246 shares of The Travelers Cos. stock in a transaction that occurred on Wednesday, August 31st. The stock was sold at an average price of $118.98, for a total transaction of $505,189.08. Following the completion of the transaction, the insider now owns 231,500 shares in the company, valued at approximately $27,543,870. The disclosure for this sale can be found here. 1.34% of the stock is currently owned by company insiders.
The firm also recently declared a quarterly dividend, which was paid on Friday, September 30th. Shareholders of record on Friday, September 9th were given a $0.67 dividend. The ex-dividend date of this dividend was Wednesday, September 7th. This represents a $2.68 annualized dividend and a yield of 2.33%. The Travelers Cos.’s dividend payout ratio (DPR) is 25.92%.
The Travelers Cos. Company Profile
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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