The Travelers Companies, Inc. (TRV) Upgraded to “Hold” at Zacks Investment Research

The Travelers Companies, Inc. (NYSE:TRV) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report issued on Wednesday.

According to Zacks, “Travelers boast a strong market position as one of the leading writers of auto and homeowners’ insurance and commercial U.S. property-casualty insurance. Its inorganic growth story remains impressive. It has been generating sufficient capital, which it prudently deploys to enhance shareholders’ value. Solid retention and a positive renewal rate change are positives. Shares of Travelers have underperformed the industry year to date. Also, the company witnessed its 2017 and 2018 estimates moving south over the last 60 days. Competitive property and casualty insurance market can challenge Travelers' growth prospects. Low interest rate environment and adverse foreign currency movements continue to weigh on written premiums, while exposure to catastrophe losses pose headwind for underwriting results. Also, it estimates $15–$20 million lower after-tax net investment income on a quarterly basis.”

Other analysts also recently issued research reports about the company. BidaskClub downgraded The Travelers Companies from a “sell” rating to a “strong sell” rating in a research note on Tuesday, August 1st. Keefe, Bruyette & Woods reissued a “hold” rating and issued a $115.00 price target on shares of The Travelers Companies in a research note on Thursday, May 25th. Vetr raised The Travelers Companies from a “hold” rating to a “buy” rating and set a $132.68 price target on the stock in a research note on Tuesday, June 27th. Barclays PLC lifted their target price on The Travelers Companies from $119.00 to $122.00 and gave the company an “equal weight” rating in a research report on Friday, August 11th. Finally, Bank of America Corporation downgraded The Travelers Companies from a “buy” rating to a “neutral” rating and lifted their target price for the company from $120.62 to $129.44 in a research report on Monday, June 19th. Five research analysts have rated the stock with a sell rating, nine have assigned a hold rating and eight have assigned a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $126.18.

Shares of The Travelers Companies (NYSE TRV) traded up 0.22% on Wednesday, reaching $120.85. The company’s stock had a trading volume of 423,242 shares. The company’s 50 day moving average is $124.75 and its 200-day moving average is $123.78. The stock has a market cap of $33.35 billion, a PE ratio of 12.03 and a beta of 1.21. The Travelers Companies has a 1-year low of $103.45 and a 1-year high of $130.37.

The Travelers Companies (NYSE:TRV) last released its quarterly earnings results on Thursday, July 20th. The insurance provider reported $1.92 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $2.07 by ($0.15). The Travelers Companies had a net margin of 10.15% and a return on equity of 11.68%. The firm had revenue of $6.35 billion during the quarter, compared to analyst estimates of $6.31 billion. During the same period in the prior year, the business earned $2.20 EPS. The business’s revenue for the quarter was up 4.7% compared to the same quarter last year. On average, equities analysts predict that The Travelers Companies will post $7.64 earnings per share for the current fiscal year.

The Travelers Companies declared that its Board of Directors has authorized a share repurchase program on Monday, September 11th that allows the company to buyback outstanding shares. This buyback authorization allows the insurance provider to reacquire shares of its stock through open market purchases. Shares buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.

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In other news, Vice Chairman William H. Heyman sold 24,000 shares of the business’s stock in a transaction that occurred on Tuesday, July 25th. The stock was sold at an average price of $126.64, for a total transaction of $3,039,360.00. Following the completion of the sale, the insider now owns 253,744 shares in the company, valued at $32,134,140.16. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Vice Chairman Jay S. Benet sold 5,518 shares of the business’s stock in a transaction that occurred on Monday, June 26th. The stock was sold at an average price of $127.49, for a total value of $703,489.82. Following the sale, the insider now owns 82,824 shares of the company’s stock, valued at approximately $10,559,231.76. The disclosure for this sale can be found here. In the last three months, insiders have sold 144,877 shares of company stock worth $18,539,282. Company insiders own 0.82% of the company’s stock.

Several large investors have recently modified their holdings of the company. Balasa Dinverno & Foltz LLC boosted its holdings in shares of The Travelers Companies by 0.3% during the first quarter. Balasa Dinverno & Foltz LLC now owns 3,448 shares of the insurance provider’s stock worth $416,000 after acquiring an additional 9 shares during the period. Tradewinds Capital Management LLC boosted its holdings in shares of The Travelers Companies by 1.1% during the second quarter. Tradewinds Capital Management LLC now owns 905 shares of the insurance provider’s stock worth $115,000 after acquiring an additional 10 shares during the period. Community Bank N.A. boosted its holdings in shares of The Travelers Companies by 0.7% during the second quarter. Community Bank N.A. now owns 1,435 shares of the insurance provider’s stock worth $181,000 after acquiring an additional 10 shares during the period. First Business Financial Services Inc. boosted its holdings in shares of The Travelers Companies by 0.5% during the second quarter. First Business Financial Services Inc. now owns 4,362 shares of the insurance provider’s stock worth $552,000 after acquiring an additional 20 shares during the period. Finally, Northern Oak Wealth Management Inc. boosted its holdings in shares of The Travelers Companies by 0.5% during the first quarter. Northern Oak Wealth Management Inc. now owns 4,873 shares of the insurance provider’s stock worth $587,000 after acquiring an additional 23 shares during the period. Institutional investors own 77.48% of the company’s stock.

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.

Analyst Recommendations for The Travelers Companies (NYSE:TRV)

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