The Travelers Companies, Inc. to Post Q2 2023 Earnings of $1.98 Per Share, Zacks Research Forecasts (NYSE:TRV)

Posted by on May 4th, 2023

The Travelers Companies, Inc. (NYSE:TRV – Get Rating) – Analysts at Zacks Research reduced their Q2 2023 EPS estimates for shares of Travelers Companies in a research note issued to investors on Tuesday, May 2nd. Zacks Research analyst T. De now expects that the insurance provider will post earnings of $1.98 per share for the quarter, down from their prior forecast of $1.99. The consensus estimate for Travelers Companies’ current full-year earnings is $14.24 per share. Zacks Research also issued estimates for Travelers Companies’ Q3 2023 earnings at $2.50 EPS, FY2023 earnings at $13.16 EPS, Q1 2024 earnings at $4.47 EPS, Q2 2024 earnings at $3.60 EPS, Q3 2024 earnings at $3.39 EPS, Q4 2024 earnings at $4.27 EPS and Q1 2025 earnings at $4.91 EPS.

Travelers Companies (NYSE:TRV – Get Rating) last posted its earnings results on Wednesday, April 19th. The insurance provider reported $4.11 earnings per share for the quarter, beating analysts’ consensus estimates of $3.64 by $0.47. The business had revenue of $9.70 billion for the quarter, compared to analysts’ expectations of $8.98 billion. Travelers Companies had a net margin of 7.41% and a return on equity of 13.41%. The firm’s revenue for the quarter was up 10.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $4.22 earnings per share.

A number of other equities analysts have also issued reports on the stock. Evercore ISI upgraded shares of Travelers Companies from an “in-line” rating to an “outperform” rating and upped their target price for the stock from $183.00 to $220.00 in a research report on Tuesday, January 10th. Royal Bank of Canada upped their target price on shares of Travelers Companies from $190.00 to $195.00 in a research report on Wednesday, January 25th. Barclays upped their target price on shares of Travelers Companies from $179.00 to $185.00 in a research report on Thursday, April 20th. Citigroup upped their target price on shares of Travelers Companies from $182.00 to $186.00 and gave the stock a “neutral” rating in a research report on Friday, April 21st. Finally, Raymond James upped their target price on shares of Travelers Companies from $200.00 to $220.00 and gave the stock a “strong-buy” rating in a research report on Wednesday, January 25th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating, five have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $191.73.

Travelers Companies Price Performance

Shares of Travelers Companies stock opened at $179.15 on Wednesday. The company has a current ratio of 0.33, a quick ratio of 0.33 and a debt-to-equity ratio of 0.32. The stock has a market capitalization of $41.38 billion, a price-to-earnings ratio of 15.27, a P/E/G ratio of 1.36 and a beta of 0.60. Travelers Companies has a 1-year low of $149.65 and a 1-year high of $194.51. The firm’s 50-day moving average price is $174.94 and its two-hundred day moving average price is $181.73.

Institutional Trading of Travelers Companies

Several hedge funds and other institutional investors have recently bought and sold shares of the business. FWL Investment Management LLC bought a new position in Travelers Companies in the 4th quarter valued at about $28,000. US Asset Management LLC bought a new position in Travelers Companies in the 4th quarter valued at about $29,000. FNY Investment Advisers LLC bought a new position in Travelers Companies in the 1st quarter valued at about $31,000. Capital Advisors Ltd. LLC increased its holdings in Travelers Companies by 203.3% in the 4th quarter. Capital Advisors Ltd. LLC now owns 364 shares of the insurance provider’s stock valued at $32,000 after buying an additional 244 shares during the period. Finally, Edmond DE Rothschild Holding S.A. bought a new position in Travelers Companies in the 3rd quarter valued at about $34,000. Institutional investors and hedge funds own 81.59% of the company’s stock.

Insider Buying and Selling at Travelers Companies

In other Travelers Companies news, CEO Alan D. Schnitzer sold 150,829 shares of the stock in a transaction on Wednesday, February 8th. The shares were sold at an average price of $188.53, for a total value of $28,435,791.37. Following the completion of the sale, the chief executive officer now owns 196,914 shares in the company, valued at $37,124,196.42. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, CEO Alan D. Schnitzer sold 150,829 shares of the firm’s stock in a transaction dated Wednesday, February 8th. The shares were sold at an average price of $188.53, for a total transaction of $28,435,791.37. Following the completion of the sale, the chief executive officer now owns 196,914 shares in the company, valued at approximately $37,124,196.42. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Michael Frederick Klein sold 20,000 shares of the firm’s stock in a transaction dated Thursday, February 9th. The stock was sold at an average price of $185.31, for a total transaction of $3,706,200.00. Following the sale, the executive vice president now owns 9,107 shares of the company’s stock, valued at approximately $1,687,618.17. The disclosure for this sale can be found here. Insiders sold a total of 228,051 shares of company stock worth $42,423,406 over the last quarter. 1.07% of the stock is currently owned by insiders.

Travelers Companies Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 30th. Shareholders of record on Friday, June 9th will be paid a $1.00 dividend. The ex-dividend date is Thursday, June 8th. This represents a $4.00 dividend on an annualized basis and a yield of 2.23%. This is a boost from Travelers Companies’s previous quarterly dividend of $0.93. Travelers Companies’s dividend payout ratio (DPR) is currently 34.10%.

Travelers Companies announced that its Board of Directors has initiated a stock repurchase plan on Wednesday, April 19th that authorizes the company to buyback $5.00 billion in outstanding shares. This buyback authorization authorizes the insurance provider to repurchase up to 12.2% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s management believes its stock is undervalued.

Travelers Companies Company Profile

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The Travelers Cos., Inc is a holding company, which engages in the provision of commercial and personal property and casualty insurance products and services. It operates through the following business segments: Business Insurance, Bond and Specialty Insurance, and Personal Insurance. The Business Insurance segment provides an array of property and casualty insurance, and insurance related services to its customers primarily in the U.S., as well as in Canada, the United Kingdom, the Republic of Ireland and throughout other parts of the world as a corporate member of Lloyd’s.

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Earnings History and Estimates for Travelers Companies (NYSE:TRV)

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