Share Repurchase Plan Authorized by The Travelers Companies (TRV) Board
The Travelers Companies (NYSE:TRV) announced that its Board of Directors has authorized a share repurchase program, which authorizes the company to repurchase shares on Thursday, November 9th, EventVestor reports. This repurchase authorization authorizes the insurance provider to buy shares of its stock through open market purchases. Shares repurchase programs are typically a sign that the company’s board of directors believes its shares are undervalued.
TRV has been the subject of a number of analyst reports. Citigroup Inc. reaffirmed a “buy” rating and issued a $148.00 price target (down previously from $150.00) on shares of The Travelers Companies in a research report on Monday, July 24th. Buckingham Research initiated coverage on The Travelers Companies in a research report on Monday, September 11th. They issued a “buy” rating and a $136.00 price target for the company. ValuEngine raised The Travelers Companies from a “hold” rating to a “buy” rating in a research report on Friday, September 1st. Royal Bank Of Canada reaffirmed a “buy” rating and issued a $135.00 price target on shares of The Travelers Companies in a research report on Monday, August 21st. Finally, Barclays PLC boosted their price target on The Travelers Companies from $119.00 to $122.00 and gave the stock an “equal weight” rating in a research report on Friday, August 11th. Five research analysts have rated the stock with a sell rating, nine have issued a hold rating and nine have given a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $128.54.
The Travelers Companies (TRV) opened at $133.32 on Tuesday. The Travelers Companies has a 12 month low of $110.40 and a 12 month high of $135.71. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.41 and a current ratio of 0.41. The stock has a market capitalization of $37,096.74, a PE ratio of 16.55, a P/E/G ratio of 2.50 and a beta of 1.26.
The Travelers Companies (NYSE:TRV) last issued its quarterly earnings results on Thursday, October 19th. The insurance provider reported $0.91 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.10 by ($1.19). The Travelers Companies had a net margin of 8.56% and a return on equity of 9.87%. The firm had revenue of $6.66 billion for the quarter, compared to the consensus estimate of $6.46 billion. During the same quarter in the prior year, the firm earned $2.40 earnings per share. The company’s revenue was up 4.2% on a year-over-year basis. equities analysts anticipate that The Travelers Companies will post 7.23 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, December 29th. Investors of record on Monday, December 11th will be paid a dividend of $0.72 per share. The ex-dividend date of this dividend is Friday, December 8th. This represents a $2.88 annualized dividend and a yield of 2.16%. The Travelers Companies’s dividend payout ratio is 33.45%.
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The Travelers Companies Company Profile
The Travelers Companies, Inc is a holding company. The Company’s segments include Business and International Insurance; Bond & Specialty Insurance, and Personal Insurance. Through its subsidiaries, it provides commercial and personal property and casualty insurance products and services. The Business and International Insurance segment offers property and casualty insurance and insurance related services to its clients, in the United States and in Canada, as well as in the United Kingdom, the Republic of Ireland, Brazil and throughout other parts of the world.
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