William H. Heyman, Vice Chairman of Travelers Companies, Inc. (NYSE:TRV), recently made several transactions involving the company's common stock. On November 27th and 29th, Heyman sold a total of 3,000 shares, with prices ranging from $267.00 to $269.00 per share, near the company's 52-week high of $269.56. These sales amounted to a total of $804,000. The timing is notable as Travelers, a $60 billion market cap insurance leader, has delivered an impressive 49% return over the past year and maintains a perfect Piotroski Score of 9, according to InvestingPro data.
Additionally, Heyman acquired 3,000 shares through stock option exercises on the same dates, at an exercise price of $139.83 per share. Following these transactions, Heyman holds direct ownership of 250,384.445 shares of Travelers Companies' common stock. Trading at a P/E ratio of ~13x and showing strong momentum, InvestingPro analysis suggests the stock remains undervalued, with comprehensive insider trading patterns and valuation metrics available in the Pro Research Report.
In other recent news, Travelers Companies Inc (BVMF:TRVC34). has witnessed several adjustments in stock targets following a robust third-quarter earnings report. BMO Capital Markets, JMP Securities, Keefe, Bruyette & Woods (KBW), Roth/MKM, Deutsche Bank (ETR:DBKGn), and RBC Capital have raised their price targets, influenced by factors such as lower core loss ratios, larger reserve releases, and strong quarterly performance. Despite encountering pre-tax catastrophe losses of $939 million due to Hurricane Helene, Travelers recorded a core return on equity of 16.6% and saw net earned premiums reach a record $10.7 billion, a 10% increase year-over-year.
The company also projects strong investment income for Q4 2024 and 2025, with expected earnings of approximately $2.9 billion for 2025. However, a slight decline in total auto new business premium and a deliberate decrease in homeowners new business premium, particularly in high-risk areas, were reported. Analysts from the various firms have also updated their earnings per share estimates for the coming years, taking into account the company's recent performance. These recent developments highlight the financial health and strategic positioning of Travelers Companies Inc.
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