The Travelers Companies (NYSE:TRV) declared that its Board of Directors has initiated a share buyback plan, which authorizes the company to repurchase outstanding shares on Thursday, November 9th, EventVestor reports. This repurchase authorization authorizes the insurance provider to repurchase shares of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s management believes its stock is undervalued.
The Travelers Companies (NYSE:TRV) opened at $135.54 on Friday. The firm has a market capitalization of $36,820.31, a PE ratio of 16.43, a P/E/G ratio of 2.39 and a beta of 1.26. The Travelers Companies has a fifty-two week low of $109.10 and a fifty-two week high of $135.71. The company has a quick ratio of 0.41, a current ratio of 0.41 and a debt-to-equity ratio of 0.29.
The Travelers Companies (NYSE:TRV) last released its quarterly earnings results on Thursday, October 19th. The insurance provider reported $0.91 earnings per share for the quarter, missing analysts’ consensus estimates of $2.10 by ($1.19). The Travelers Companies had a return on equity of 9.87% and a net margin of 8.56%. The business had revenue of $6.66 billion during the quarter, compared to analyst estimates of $6.46 billion. During the same period in the previous year, the company posted $2.40 EPS. The business’s revenue for the quarter was up 4.2% compared to the same quarter last year. analysts forecast that The Travelers Companies will post 7.5 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 29th. Shareholders of record on Monday, December 11th will be paid a dividend of $0.72 per share. The ex-dividend date of this dividend is Friday, December 8th. This represents a $2.88 annualized dividend and a yield of 2.12%. The Travelers Companies’s dividend payout ratio (DPR) is currently 33.45%.
Several analysts have weighed in on TRV shares. MKM Partners reiterated a “neutral” rating and set a $130.00 price target (up previously from $115.00) on shares of The Travelers Companies in a research note on Wednesday, July 26th. Wells Fargo & Company reiterated a “hold” rating and set a $125.00 price target on shares of The Travelers Companies in a research note on Tuesday, September 12th. Credit Suisse Group dropped their price target on The Travelers Companies from $128.00 to $125.00 and set a “neutral” rating on the stock in a research note on Tuesday, September 12th. B. Riley reiterated a “neutral” rating on shares of The Travelers Companies in a research note on Monday, November 6th. Finally, Royal Bank of Canada boosted their price target on The Travelers Companies to $140.00 and gave the company an “outperform” rating in a research note on Friday, October 20th. Five analysts have rated the stock with a sell rating, nine have given a hold rating and nine have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $128.54.
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In other news, EVP Kenneth Franklin Spence III sold 4,800 shares of the company’s stock in a transaction that occurred on Monday, August 14th. The stock was sold at an average price of $128.73, for a total value of $617,904.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.82% of the stock is currently owned by insiders.
About The Travelers Companies
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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