The Travelers Companies (NYSE:TRV) announced that its board has authorized a stock repurchase plan, which allows the company to buyback shares on Monday, September 11th, EventVestor reports. This buyback authorization allows the insurance provider to reacquire shares of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s board of directors believes its shares are undervalued.
TRV has been the subject of several recent research reports. Royal Bank Of Canada reiterated a “buy” rating and set a $126.00 target price on shares of The Travelers Companies in a research note on Monday, May 22nd. Keefe, Bruyette & Woods reiterated a “hold” rating and set a $115.00 target price on shares of The Travelers Companies in a research note on Thursday, May 25th. BidaskClub upgraded shares of The Travelers Companies from a “hold” rating to a “buy” rating in a research note on Saturday, June 17th. Bank of America Corporation lowered shares of The Travelers Companies from a “buy” rating to a “neutral” rating and boosted their target price for the company from $120.62 to $129.44 in a research note on Monday, June 19th. Finally, Vetr upgraded shares of The Travelers Companies from a “hold” rating to a “buy” rating and set a $132.68 target price for the company in a research note on Tuesday, June 27th. Five investment analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $126.26.
Shares of The Travelers Companies (TRV) opened at 120.70 on Friday. The Travelers Companies has a 12-month low of $103.45 and a 12-month high of $130.37. The firm has a market cap of $33.31 billion, a P/E ratio of 12.02 and a beta of 1.21. The company has a 50-day moving average of $125.15 and a 200 day moving average of $123.83.
The Travelers Companies (NYSE:TRV) last announced its earnings results on Thursday, July 20th. The insurance provider reported $1.92 earnings per share for the quarter, missing the Zacks’ 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 business had revenue of $6.35 billion during the quarter, compared to analyst estimates of $6.31 billion. During the same quarter last year, the business posted $2.20 earnings per share. The business’s quarterly revenue was up 4.7% compared to the same quarter last year. Equities analysts predict that The Travelers Companies will post $7.64 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Stockholders of record on Friday, September 8th will be paid a $0.72 dividend. The ex-dividend date of this dividend is Thursday, September 7th. This represents a $2.88 dividend on an annualized basis and a dividend yield of 2.39%. The Travelers Companies’s dividend payout ratio (DPR) is presently 28.77%.
In other news, Vice Chairman William H. Heyman sold 24,000 shares of the firm’s stock in a transaction on Tuesday, July 25th. The stock was sold at an average price of $126.64, for a total value of $3,039,360.00. Following the completion of the sale, the insider now directly 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 accessible through this link. Also, Vice Chairman Jay S. Benet sold 5,518 shares of the firm’s stock in a transaction on Monday, June 19th. The shares were sold at an average price of $128.72, for a total value of $710,276.96. Following the completion of the sale, the insider now owns 82,824 shares of the company’s stock, valued at $10,661,105.28. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 150,395 shares of company stock valued at $19,249,559. 0.82% of the stock is currently owned by corporate insiders.
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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.
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