Travelers Companies (NYSE:TRV) Shares Gap Up Following Strong Earnings

The Travelers Companies, Inc. (NYSE:TRV)’s stock price gapped up before the market opened on Wednesday following a stronger than expected earnings report. The stock had previously closed at $239.16, but opened at $250.50. Travelers Companies shares last traded at $253.95, with a volume of 368,012 shares traded.

The insurance provider reported $9.15 EPS for the quarter, beating the consensus estimate of $6.50 by $2.65. The company had revenue of $12.01 billion during the quarter, compared to analysts’ expectations of $10,795,375 billion. Travelers Companies had a net margin of 10.02% and a return on equity of 17.69%. The business’s revenue for the quarter was up 9.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $7.01 EPS.

Analyst Ratings Changes

Several research firms have issued reports on TRV. UBS Group lifted their price target on Travelers Companies from $244.00 to $270.00 and gave the company a “neutral” rating in a research note on Tuesday, October 22nd. BMO Capital Markets boosted their price objective on Travelers Companies from $233.00 to $270.00 and gave the stock an “outperform” rating in a report on Tuesday, October 22nd. HSBC upgraded shares of Travelers Companies from a “hold” rating to a “buy” rating and set a $290.00 price target for the company in a research report on Tuesday, December 10th. Jefferies Financial Group upped their price target on shares of Travelers Companies from $210.00 to $235.00 and gave the stock a “hold” rating in a report on Wednesday, October 9th. Finally, Royal Bank of Canada upped their price target on shares of Travelers Companies from $250.00 to $273.00 and gave the stock a “sector perform” rating in a report on Friday, October 18th. Four research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $255.16.

Insider Buying and Selling at Travelers Companies

In other Travelers Companies news, EVP Andy F. Bessette sold 4,520 shares of the firm’s stock in a transaction on Monday, October 28th. The shares were sold at an average price of $253.46, for a total value of $1,145,639.20. Following the completion of the transaction, the executive vice president now directly owns 16,976 shares of the company’s stock, valued at $4,302,736.96. This trade represents a 21.03 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Maria Olivo sold 10,410 shares of the firm’s stock in a transaction on Monday, November 18th. The shares were sold at an average price of $261.80, for a total transaction of $2,725,338.00. Following the completion of the transaction, the executive vice president now directly owns 111,162 shares of the company’s stock, valued at approximately $29,102,211.60. The trade was a 8.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 18,670 shares of company stock worth $4,861,329. Insiders own 1.33% of the company’s stock.

Institutional Trading of Travelers Companies

Several institutional investors and hedge funds have recently made changes to their positions in the stock. AE Wealth Management LLC raised its position in Travelers Companies by 51.1% in the 2nd quarter. AE Wealth Management LLC now owns 1,994 shares of the insurance provider’s stock worth $406,000 after purchasing an additional 674 shares during the period. Thrivent Financial for Lutherans increased its position in shares of Travelers Companies by 39.9% in the second quarter. Thrivent Financial for Lutherans now owns 15,648 shares of the insurance provider’s stock valued at $3,182,000 after acquiring an additional 4,466 shares during the period. 1832 Asset Management L.P. boosted its stake in shares of Travelers Companies by 11.1% during the 2nd quarter. 1832 Asset Management L.P. now owns 13,452 shares of the insurance provider’s stock valued at $2,735,000 after purchasing an additional 1,342 shares in the last quarter. EverSource Wealth Advisors LLC boosted its stake in shares of Travelers Companies by 15.2% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 659 shares of the insurance provider’s stock valued at $143,000 after purchasing an additional 87 shares in the last quarter. Finally, Public Sector Pension Investment Board boosted its stake in Travelers Companies by 8.0% during the second quarter. Public Sector Pension Investment Board now owns 38,830 shares of the insurance provider’s stock worth $7,896,000 after acquiring an additional 2,868 shares in the last quarter. Hedge funds and other institutional investors own 82.45% of the company’s stock.

Travelers Companies Price Performance

The company has a debt-to-equity ratio of 0.29, a current ratio of 0.34 and a quick ratio of 0.34. The firm has a market cap of $56.00 billion, a P/E ratio of 12.65, a price-to-earnings-growth ratio of 1.05 and a beta of 0.65. The firm’s 50 day moving average is $248.81 and its 200 day moving average is $236.70.

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.