Short Interest in Travelers Companies Inc (NYSE:TRV) Declines By 10.9%
Travelers Companies Inc (NYSE:TRV) was the recipient of a significant drop in short interest during the month of August. As of August 31st, there was short interest totalling 4,958,200 shares, a drop of 10.9% from the July 31st total of 5,567,200 shares. Based on an average daily trading volume, of 1,230,000 shares, the short-interest ratio is presently 4.0 days. Currently, 1.9% of the shares of the stock are short sold.
TRV traded down $1.99 during trading hours on Friday, hitting $146.31. The company’s stock had a trading volume of 1,627,099 shares, compared to its average volume of 1,312,022. The business’s 50-day moving average price is $147.66 and its 200-day moving average price is $144.19. Travelers Companies has a 12 month low of $111.08 and a 12 month high of $155.09. The stock has a market cap of $38.16 billion, a price-to-earnings ratio of 16.37, a P/E/G ratio of 1.39 and a beta of 0.93. The company has a current ratio of 0.38, a quick ratio of 0.38 and a debt-to-equity ratio of 0.26.
Travelers Companies (NYSE:TRV) last announced its quarterly earnings results on Tuesday, July 23rd. The insurance provider reported $2.02 earnings per share for the quarter, missing the consensus estimate of $2.32 by ($0.30). Travelers Companies had a return on equity of 10.73% and a net margin of 8.65%. The business had revenue of $6.99 billion during the quarter, compared to the consensus estimate of $7.03 billion. During the same quarter in the prior year, the firm posted $1.81 EPS. The company’s revenue for the quarter was up 4.4% on a year-over-year basis. On average, analysts forecast that Travelers Companies will post 10.6 earnings per share for the current year.
In other news, EVP Andy F. Bessette sold 11,650 shares of Travelers Companies stock in a transaction that occurred on Tuesday, August 20th. The shares were sold at an average price of $146.85, for a total transaction of $1,710,802.50. Following the sale, the executive vice president now owns 21,259 shares in the company, valued at $3,121,884.15. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Vice Chairman Jay S. Benet sold 21,972 shares of Travelers Companies stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $146.59, for a total transaction of $3,220,875.48. Following the sale, the insider now owns 94,588 shares in the company, valued at approximately $13,865,654.92. The disclosure for this sale can be found here. In the last quarter, insiders have sold 56,566 shares of company stock worth $8,347,056. Company insiders own 0.73% of the company’s stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of TRV. Comerica Securities Inc. boosted its stake in Travelers Companies by 22.5% during the fourth quarter. Comerica Securities Inc. now owns 10,568 shares of the insurance provider’s stock worth $1,266,000 after buying an additional 1,944 shares during the period. Geode Capital Management LLC boosted its stake in Travelers Companies by 6.7% during the fourth quarter. Geode Capital Management LLC now owns 3,226,157 shares of the insurance provider’s stock worth $385,607,000 after buying an additional 203,345 shares during the period. Interactive Financial Advisors purchased a new position in Travelers Companies during the first quarter worth $27,000. First Mercantile Trust Co. boosted its stake in Travelers Companies by 10.7% during the first quarter. First Mercantile Trust Co. now owns 1,240 shares of the insurance provider’s stock worth $170,000 after buying an additional 120 shares during the period. Finally, Toronto Dominion Bank boosted its stake in Travelers Companies by 16.8% during the first quarter. Toronto Dominion Bank now owns 171,859 shares of the insurance provider’s stock worth $23,565,000 after buying an additional 24,681 shares during the period. 81.41% of the stock is owned by institutional investors.
Several equities research analysts recently weighed in on TRV shares. Royal Bank of Canada boosted their price target on shares of Travelers Companies to $160.00 and gave the stock a “sector perform” rating in a research report on Wednesday, July 24th. Deutsche Bank cut shares of Travelers Companies from a “hold” rating to a “sell” rating and set a $147.11 price target on the stock. in a research report on Thursday, June 27th. UBS Group boosted their price target on shares of Travelers Companies from $146.00 to $152.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 10th. Morgan Stanley reduced their price target on shares of Travelers Companies from $140.00 to $136.00 and set an “underweight” rating on the stock in a research report on Thursday, August 15th. Finally, Buckingham Research cut shares of Travelers Companies from a “buy” rating to a “neutral” rating and set a $158.00 price target on the stock. in a research report on Friday, July 19th. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating and two have assigned a buy rating to the stock. Travelers Companies has an average rating of “Hold” and an average target price of $148.78.
About Travelers Companies
The Travelers Companies, Inc, through its subsidiaries, provides a range of commercial and personal property, and casualty insurance products and services to businesses, government units, associations, and individuals in the United states and internationally. The company operates through three segments: Business Insurance, Bond & Specialty Insurance, and Personal Insurance.
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