Travelers Companies (NYSE:TRV) Releases Earnings Results, Beats Estimates By $4.70 EPS

Travelers Companies (NYSE:TRV) posted its quarterly earnings results on Friday. The insurance provider reported $10.04 earnings per share for the quarter, topping analysts’ consensus estimates of $5.34 by $4.70, FiscalAI reports. Travelers Companies had a net margin of 15.54% and a return on equity of 24.06%. The firm had revenue of $12.15 billion for the quarter, compared to the consensus estimate of $11.26 billion.

Travelers Companies Stock Performance

NYSE TRV opened at $336.89 on Friday. Travelers Companies has a 1-year low of $251.30 and a 1-year high of $349.35. The company has a 50 day moving average of $312.92 and a 200-day moving average of $301.03. The company has a current ratio of 0.35, a quick ratio of 0.35 and a debt-to-equity ratio of 0.29. The firm has a market cap of $71.64 billion, a price-to-earnings ratio of 10.02, a PEG ratio of 2.94 and a beta of 0.46.

Analyst Ratings Changes

A number of analysts recently weighed in on TRV shares. Truist Financial started coverage on shares of Travelers Companies in a research note on Friday, July 10th. They issued a “buy” rating and a $395.00 target price on the stock. HSBC raised their price target on shares of Travelers Companies from $321.00 to $351.00 and gave the stock a “hold” rating in a research note on Monday, July 6th. Piper Sandler upped their price objective on Travelers Companies to $340.00 and gave the company an “overweight” rating in a research note on Monday. TD Cowen cut Travelers Companies from a “hold” rating to a “sell” rating and set a $297.00 target price for the company. in a report on Monday. Finally, Barclays cut Travelers Companies from an “equal weight” rating to an “underweight” rating and lowered their price target for the company from $331.00 to $295.00 in a research report on Friday, June 12th. Three equities research analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating, twelve have issued a Hold rating and five have issued a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $329.11.

Insiders Place Their Bets

In related news, insider Avrohom J. Kess sold 6,735 shares of the stock in a transaction that occurred on Tuesday, April 28th. The stock was sold at an average price of $308.78, for a total transaction of $2,079,633.30. Following the sale, the insider directly owned 48,737 shares in the company, valued at $15,049,010.86. This represents a 12.14% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Michael Frederick Klein sold 10,000 shares of the firm’s stock in a transaction on Tuesday, May 26th. The shares were sold at an average price of $307.65, for a total value of $3,076,500.00. Following the sale, the executive vice president directly owned 45,125 shares of the company’s stock, valued at $13,882,706.25. This represents a 18.14% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 37,573 shares of company stock worth $11,504,146 over the last ninety days. 1.39% of the stock is owned by insiders.

Institutional Investors Weigh In On Travelers Companies

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Woodline Partners LP acquired a new position in shares of Travelers Companies during the third quarter worth approximately $99,680,000. AQR Capital Management LLC increased its holdings in shares of Travelers Companies by 22.8% in the third quarter. AQR Capital Management LLC now owns 1,785,288 shares of the insurance provider’s stock valued at $496,872,000 after purchasing an additional 331,170 shares in the last quarter. Amundi raised its position in Travelers Companies by 44.6% in the 4th quarter. Amundi now owns 1,019,407 shares of the insurance provider’s stock worth $295,689,000 after purchasing an additional 314,241 shares during the last quarter. Adage Capital Partners GP L.L.C. lifted its holdings in Travelers Companies by 258.5% during the 2nd quarter. Adage Capital Partners GP L.L.C. now owns 372,513 shares of the insurance provider’s stock worth $99,662,000 after buying an additional 268,600 shares in the last quarter. Finally, California Public Employees Retirement System boosted its position in Travelers Companies by 33.5% in the 4th quarter. California Public Employees Retirement System now owns 1,055,282 shares of the insurance provider’s stock valued at $306,095,000 after buying an additional 264,551 shares during the last quarter. Institutional investors and hedge funds own 82.45% of the company’s stock.

About Travelers Companies

The Travelers Companies, Inc (NYSE: TRV) is a leading provider of property and casualty insurance products and services. The company underwrites a broad range of commercial and personal insurance lines, offering coverage designed to protect individuals, small and midsize businesses, and large corporate clients against property loss, liability, and other operational risks. Travelers is known for combining underwriting, claims management and risk control services to help clients prevent losses and recover when incidents occur.

On the commercial side, Travelers writes primary and specialty coverages including property, general liability, commercial auto, workers’ compensation, professional and management liability, surety and inland marine.