The Travelers Cos. (TRV) Sets New 12-Month High at $119.32
The Travelers Cos. (NYSE:TRV)’s share price hit a new 52-week high during trading on Friday . The company traded as high as $119.32 and last traded at $118.44, with a volume of 506,255 shares traded. The stock had previously closed at $118.35.
A number of equities analysts recently commented on TRV shares. Zacks Investment Research upgraded The Travelers Cos. from a “sell” rating to a “hold” rating in a research report on Wednesday. Bank of America Corp. upgraded The Travelers Cos. from a “neutral” rating to a “buy” rating and set a $127.00 price objective on the stock in a research report on Tuesday, June 28th. They noted that the move was a valuation call. 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. Citigroup Inc. restated a “neutral” rating on shares of The Travelers Cos. in a research report on Tuesday, June 21st. Finally, Royal Bank Of Canada lifted their target price on The Travelers Cos. from $120.00 to $125.00 and gave the company an “outperform” rating in a research report on Friday, July 22nd. One research analyst has rated the stock with a sell rating, nine have given a hold rating and five have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $117.17.
The company has a 50-day moving average of $117.66 and a 200-day moving average of $114.34. The company has a market capitalization of $34.23 billion and a PE ratio of 11.43.
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 company had revenue of $6.79 billion for the quarter, compared to analyst estimates of $6.37 billion. The Travelers Cos.’s quarterly revenue was up 2.3% compared to the same quarter last year. During the same quarter last year, the company posted $2.52 EPS. Equities analysts anticipate that The Travelers Cos. will post $9.51 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, September 30th. Shareholders of record on Friday, September 9th will be issued a dividend of $0.67 per share. This represents a $2.68 dividend on an annualized basis and a yield of 2.26%. The ex-dividend date is Wednesday, September 7th.
In other news, CFO Jay S. Benet sold 5,797 shares of the firm’s stock in a transaction on Monday, June 6th. The stock was sold at an average price of $114.76, for a total transaction of $665,263.72. Following the sale, the chief financial officer now owns 66,905 shares in the company, valued at $7,678,017.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Vice Chairman William H. Heyman sold 4,246 shares of the firm’s stock in a transaction on Wednesday, August 31st. The stock was sold at an average price of $118.98, for a total value of $505,189.08. Following the sale, 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.
A hedge fund recently raised its stake in The Travelers Cos. stock. Schwab Charles Investment Management Inc. raised its stake in The Travelers Cos. (NYSE:TRV) by 2.2% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm 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 as of its most recent SEC filing.
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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