Travelers Companies (NYSE:TRV) Reaches New 12-Month High Following Earnings Beat

The Travelers Companies, Inc. (NYSE:TRV) shares hit a new 52-week high on Friday following a better than expected earnings announcement. The company traded as high as $364.93 and last traded at $365.0680, with a volume of 577760 shares trading hands. The stock had previously closed at $337.82.

The insurance provider reported $10.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.34 by $4.70. Travelers Companies had a net margin of 15.54% and a return on equity of 24.06%. The company had revenue of $12.15 billion for the quarter, compared to the consensus estimate of $11.26 billion. During the same period last year, the firm posted $6.51 EPS. The company’s revenue for the quarter was up .3% on a year-over-year basis.

Analyst Ratings Changes

TRV has been the topic of a number of recent research reports. Piper Sandler raised their target price on shares of Travelers Companies to $340.00 and gave the stock an “overweight” rating in a report on Monday. JPMorgan Chase & Co. raised Travelers Companies from an “underweight” rating to a “neutral” rating and upped their target price for the company from $316.00 to $322.00 in a report on Tuesday, May 26th. Weiss Ratings reiterated a “buy (a-)” rating on shares of Travelers Companies in a research report on Friday, May 8th. TD Cowen downgraded Travelers Companies from a “hold” rating to a “sell” rating and set a $297.00 price target on the stock. in a report on Monday. Finally, BMO Capital Markets boosted their price objective on Travelers Companies from $297.00 to $314.00 and gave the company an “outperform” rating in a research report on Monday, April 20th. Three analysts have rated the stock with a Strong Buy rating, five have given a Buy rating, twelve have given a Hold rating and five have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $329.11.

Insider Activity

In related news, Vice Chairman William H. Heyman sold 1,557 shares of the firm’s stock in a transaction that occurred on Tuesday, April 28th. The stock was sold at an average price of $310.64, for a total value of $483,666.48. Following the sale, the insider directly owned 259,590 shares in the company, valued at $80,639,037.60. This trade represents a 0.60% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Diane Kurtzman sold 2,867 shares of Travelers Companies stock in a transaction on Monday, April 20th. The shares were sold at an average price of $303.45, for a total value of $869,991.15. Following the sale, the executive vice president directly owned 5,298 shares in the company, valued at $1,607,678.10. The trade was a 35.11% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 37,573 shares of company stock worth $11,504,146 over the last three months. Insiders own 1.39% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of TRV. Brighton Jones LLC lifted its holdings in Travelers Companies by 13.4% in the fourth quarter. Brighton Jones LLC now owns 3,277 shares of the insurance provider’s stock worth $789,000 after purchasing an additional 387 shares during the period. Revolve Wealth Partners LLC acquired a new position in Travelers Companies during the 4th quarter valued at about $276,000. WINTON GROUP Ltd bought a new stake in shares of Travelers Companies during the 2nd quarter worth about $382,000. CIBC Asset Management Inc lifted its stake in shares of Travelers Companies by 13.9% in the 2nd quarter. CIBC Asset Management Inc now owns 68,537 shares of the insurance provider’s stock worth $18,336,000 after acquiring an additional 8,383 shares during the period. Finally, Treasurer of the State of North Carolina lifted its stake in shares of Travelers Companies by 2.0% in the 2nd quarter. Treasurer of the State of North Carolina now owns 105,605 shares of the insurance provider’s stock worth $28,254,000 after acquiring an additional 2,117 shares during the period. Institutional investors own 82.45% of the company’s stock.

Travelers Companies Stock Up 8.1%

The firm’s fifty day moving average price is $312.92 and its 200-day moving average price is $301.03. The company has a debt-to-equity ratio of 0.29, a current ratio of 0.35 and a quick ratio of 0.35. The firm has a market capitalization of $77.68 billion, a P/E ratio of 10.87, a PEG ratio of 2.94 and a beta of 0.46.

Travelers Companies Company Profile

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.