During the same quarter in the previous year, the company posted $2.52 EPS. Inc., and were down 17.7 percent for the first half of 2016. Zacks Investment Research raised shares of The Travelers Cos. from a “hold” rating to a “buy” rating and set a $130.00 price objective for the company in a research report on Thursday, April 7th. The $113.75 average target is -2.79% below today’s ($117.01) stock price.
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On Friday RBC Capital Markets reiterated its broker consensus on shares of The Travelers Company (NYSE:TRV) giving the company a “Outperform” rating.
In a different news, on Jul 12, 2016, Jay S Benet (Vice Chairman and CFO) sold 5,797 shares at $118.12 per share price.
Higher catastrophe and weather-related losses from the Fort McMurray wildfire in Alberta and hailstorms in Texas, in addition to lower net investment income, led to the drop, Travelers said in a statement. Following the completion of the sale, the insider now directly owns 228,982 shares of the company’s stock, valued at approximately $25,771,924.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In terms of the bottom line, Travelers faced a tough quarter due to a higher level of catastrophe losses. The stock was sold at an average price of $109.27, for a total transaction of $31,562,420.96. According to the SEC, on Jun 2, 2016, William H Heyman (Vice Chairman & Chief Inv Off) sold 1,000 shares at $114.50 per share price.
The stock decreased 0.03% or $0.04 during the last trading session, hitting $117.01. The disclosure for this sale can be found here.
While losses from events that met or exceeded the company’s threshold for catastrophe losses were $79 million higher after taxes than a year ago, losses from events “that fell below our cat threshold, which we recorded as noncat weather-related losses within underlying underwriting results, were $56 million higher after tax than in the prior-year quarter”, Mr.
The Travelers Cos. (NYSE:TRV) last posted its earnings results on Thursday, July 21st. The company has a market cap of $34.12 billion.
On the company’s financial health, Travelers Companies Inc reported $2.20 EPS for the quarter, beating the analyst consensus estimate by $ 0.15 according to the earnings call on Jul 21, 2016. The company had revenue of $6067.00 million for the quarter, compared to analysts expectations of $6131.06 million. On average, analysts anticipate that The Travelers Cos. will post $9.47 earnings per share for the current fiscal year. This represents a $2.68 dividend on an annualized basis and a yield of 2.30%.
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Travelers Companies Inc makes up approx 0.24% of Nisa Investment Advisors’s portfolio.Foundry Partners boosted its stake in TRV in the latest quarter, The investment management firm added 9,950 additional shares and now holds a total of 176,296 shares of Travelers Companies Inc which is valued at $20,802,928. The Company, through its subsidiaries, is engaged in providing a range of commercial and personal property and casualty insurance services and products to businesses, government units, associations and individuals. The Company has three operating segments: Business and International Insurance segment Bond & Specialty Insurance segment and the Personal Insurance segment.
