The Travelers Companies, Inc.
- Open
- 332.41
- Day high
- 334.13
- Day low
- 328.00
- Prev close
- 331.88
- Volume
- 1.7M
- Mkt cap
- $70.2B
- P/E (TTM)
- 9.7
- EPS (TTM)
- $34.13
- P/B
- 2.2
- P/S
- 1.4
- Yield
- 0.71%
- Per share
- $2.35
- ▼Insiders net selling -$12.8M over the last 3 months (0 open-market buys, 12 sales)
- 🏛Institutions mixed (13F)
The Travelers Companies, Inc. (TRV) is a Financial Services company listed on NYSE. The stock is up 24% over the past year. Over the trailing 3 months, insiders filed 0 open-market buys and 12 sales (SEC Form 4).
The Travelers Companies, Inc. (TRV) financials & analyst ratings
Fundamentals (TTM)
Analyst consensus · 8 analysts
Source: exchange market data + company filings. Figures are trailing-twelve-month or as most recently reported. For informational purposes only — not investment advice.
TRV earnings date, history & EPS estimates
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| Apr 16, 2026 | $7.07 | $7.71 | +9.1% | $10.3B | -3.5% |
| Jan 21, 2026 | $8.80 | $11.13 | +26.5% | $12.4B | +11.8% |
| Oct 16, 2025 | $6.39 | $8.14 | +27.4% | $12.5B | +6.7% |
| Jul 17, 2025 | $3.65 | $6.51 | +78.4% | $12.1B | +4.3% |
| Apr 16, 2025 | $0.79 | $1.91 | +143.3% | $11.8B | +8.9% |
| Jan 22, 2025 | $6.70 | $9.15 | +36.6% | $12.0B | +11.8% |
| Oct 17, 2024 | $3.55 | $5.24 | +47.6% | $11.9B | +4.1% |
| Jul 19, 2024 | $1.98 | $2.51 | +26.8% | $11.3B | -0.5% |
| Apr 17, 2024 | $4.90 | $4.69 | -4.3% | $11.2B | +6.3% |
| Jan 19, 2024 | $5.09 | $7.01 | +37.7% | $10.9B | +9.4% |
| Oct 18, 2023 | $3.01 | $1.95 | -35.2% | $10.6B | +2.9% |
| Jul 20, 2023 | $2.27 | $0.06 | -97.4% | $10.1B | +0.8% |
TRV insider trading activity (SEC Form 4)
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| May 27, 2026 | Klein Michael Frederickofficer: EVP & President, Personal Ins. | Sell | 6,069 | $307.10 |
| May 27, 2026 | Klein Michael Frederickofficer: EVP & President, Personal Ins. | Option | 10,000 | $132.58 |
| May 27, 2026 | Klein Michael Frederickofficer: EVP & President, Personal Ins. | Sell | 1,519 | $308.79 |
| May 27, 2026 | Klein Michael Frederickofficer: EVP & President, Personal Ins. | Sell | 2,412 | $308.33 |
| May 26, 2026 | BESSETTE ANDY Fofficer: EVP and Chief Admin Officer | Sell | 4,255 | $308.11 |
| May 26, 2026 | BESSETTE ANDY Fofficer: EVP and Chief Admin Officer | Option | 4,255 | $189.01 |
| Apr 29, 2026 | Kess Avrohom J.officer: Vice Chmn. & Chief Legal Off. | Tax | 20,951 | $309.03 |
| Apr 29, 2026 | HEYMAN WILLIAM Hofficer: Vice Chairman | Option | 1,557 | $189.01 |
| Apr 29, 2026 | Kess Avrohom J.officer: Vice Chmn. & Chief Legal Off. | Option | 27,686 | $140.85 |
| Apr 29, 2026 | Kess Avrohom J.officer: Vice Chmn. & Chief Legal Off. | Sell | 6,735 | $308.78 |
| Apr 29, 2026 | HEYMAN WILLIAM Hofficer: Vice Chairman | Sell | 557 | $310.00 |
| Apr 29, 2026 | HEYMAN WILLIAM Hofficer: Vice Chairman | Sell | 1,000 | $311.00 |
| Apr 21, 2026 | Klein Michael Frederickofficer: EVP & President, Personal Ins. | Sell | 3,270 | $304.38 |
| Apr 21, 2026 | Kurtzman Dianeofficer: EVP & Chief HR Officer | Sell | 1,480 | $303.47 |
| Apr 21, 2026 | Kurtzman Dianeofficer: EVP & Chief HR Officer | Sell | 1,387 | $303.42 |
Source: TRV SEC Form 4 filings, latest May 27, 2026. For informational purposes only — not investment advice.
See the full TRV insider & 13F page →The Travelers Companies, Inc. company profile
Overview
The Travelers Companies, Inc. (NYSE:TRV) is one of the oldest and largest property and casualty insurance companies in the United States, founded in 1853 and headquartered in New York. The company has evolved from its origins as a travel accident insurer into a comprehensive insurance provider serving businesses, government entities, and individual consumers across the nation and internationally. With over 170 years of operating history, Travelers has established itself as a leading insurer with a diversified portfolio of commercial and personal insurance products, maintaining strong market positions across its core business segments.
Business
Travelers operates in the property and casualty insurance industry, which provides coverage for physical assets and liability protection against third-party claims. Property insurance covers damage to physical assets like buildings, equipment, and vehicles, while casualty insurance protects against legal liability for injuries or damages caused to others. This industry is fundamental to the broader economy, as it enables businesses and individuals to transfer financial risk to insurance companies in exchange for premium payments. The company operates through three primary business segments: 1. Business Insurance (approximately 50% of net written premiums): This segment serves commercial customers ranging from small businesses to large corporations. It offers workers' compensation insurance (covering employee injuries), commercial automobile and property insurance, general liability coverage, commercial multi-peril policies, and specialized coverages including marine, aviation, energy, construction, terrorism, and kidnap and ransom insurance. The segment is further divided into select accounts (small businesses), commercial accounts (mid-sized businesses), national accounts (large companies), and national property divisions. 2. Personal Insurance (approximately 37% of net written premiums): This segment provides insurance products to individual consumers, primarily focusing on automobile insurance (covering vehicle damage and liability) and homeowners insurance (protecting residential properties and personal belongings). These products are distributed through independent insurance agencies and brokers across the country. 3. Bond & Specialty Insurance (approximately 13% of net written premiums): This segment offers specialized insurance products including surety bonds (guaranteeing contract performance), fidelity bonds (protecting against employee dishonesty), management and professional liability insurance (covering executives and professionals against lawsuits), and other specialty coverages. These products typically serve niche markets and require specialized underwriting expertise.
Revenue model
Travelers generates revenue primarily through insurance premium collection, operating on the traditional insurance business model where customers pay premiums in exchange for coverage against specified risks. The company collects premiums upfront and invests these funds (called "float") while holding reserves to pay future claims. Revenue comes from two main sources: underwriting income (premiums minus claims and expenses) and investment income from the invested premium reserves. The company's paying customers include small and medium-sized businesses, large corporations, government entities, and individual consumers who purchase various insurance coverages. Premium pricing is determined through sophisticated actuarial analysis that considers historical loss data, current market conditions, and individual risk characteristics. Several factors significantly impact Travelers' profitability margins. Catastrophic weather events like hurricanes, wildfires, and severe storms can cause substantial claims spikes, as evidenced by the $1.7 billion in California wildfire losses in Q1 2025. Social inflation - the trend of increasing jury awards and litigation costs - continues to pressure casualty insurance margins, particularly in liability coverages. Economic inflation affects both claim costs (through higher repair costs, medical expenses, and wage inflation) and the company's operational expenses. Interest rate environments significantly influence investment returns on the company's float, with rising rates generally benefiting insurers through higher investment yields. Competition within the insurance market affects pricing power, though Travelers has maintained disciplined pricing across market cycles. Regulatory changes at state levels can impact coverage requirements, pricing flexibility, and claims handling procedures. The company's ability to achieve adequate pricing relative to loss trends remains crucial for maintaining underwriting profitability across all business segments.
Competitive moat
Travelers possesses several meaningful competitive advantages that create a moderate but sustainable moat. The company's 170-year operating history and brand recognition provide significant credibility with customers and distribution partners, particularly important in an industry where financial strength and claims-paying ability are paramount concerns for buyers. The company's scale and diversification across multiple insurance lines and geographic markets provides natural hedging against localized risks and economic cycles. With over $46 billion in annual revenue, Travelers achieves economies of scale in underwriting, claims handling, and technology investments that smaller competitors cannot match. The company's extensive data repository accumulated over decades enables sophisticated risk pricing and selection capabilities, enhanced by significant investments in artificial intelligence and analytics. Distribution relationships represent another key moat element. Travelers works through a network of independent agents and brokers who value the company's financial strength, product breadth, and service capabilities. These relationships, built over many years, create switching costs and provide market access that would be difficult for new entrants to replicate quickly. However, the insurance industry faces ongoing competitive pressures. Regulatory constraints limit pricing flexibility in many states, particularly for personal lines insurance. Capital market alternatives like catastrophe bonds and insurance-linked securities provide alternative risk transfer mechanisms that could potentially displace traditional insurance. Technology disruption from insurtech companies and direct-to-consumer models threatens traditional distribution channels, though Travelers is actively investing in digital capabilities to address this challenge. The company's moat strength is moderate rather than exceptional, as insurance remains a relatively commoditized industry with significant regulatory oversight and cyclical profitability patterns.
Risks & safety
Travelers demonstrates a strong margin of safety with robust financial fundamentals and conservative capital management. • Solvency and Liquidity: Excellent financial position with current ratio of 26.2x, minimal debt-to-equity ratio of 0.28, and strong operating cash flow of $9.1 billion annually. No meaningful solvency risk given the regulated nature and capital requirements of the insurance business. • Valuation Metrics: Trading at reasonable multiples with P/E ratio of 11.0x based on 2024 earnings, price-to-book ratio of 2.0x, and EV/EBITDA of 9.5x. Graham number of $245 suggests potential undervaluation at current levels. • Profitability and Returns: Strong return on equity of 17.2% in 2024, demonstrating efficient capital utilization. Core income growth of 64% year-over-year indicates improving operational performance. • Other Considerations: "Fortress balance sheet" as management describes it, with substantial investment portfolio providing steady income stream. Consistent dividend payments with recent 5% increase, and active share repurchase program indicating strong capital generation and shareholder-friendly policies.
Recent development
Over the past few years, Travelers has pursued several key strategic initiatives focused on technology modernization and operational efficiency. The company has doubled its technology investments since 2017, with particular emphasis on artificial intelligence and advanced analytics capabilities. These investments span across underwriting, claims processing, and customer service functions, aimed at improving risk selection accuracy and operational productivity. The company has maintained a disciplined approach to geographic and product line management, particularly evident in its cautious stance toward California property markets following recent wildfire events. Management has indicated limited appetite for high-net-worth properties in fire-prone areas while waiting to assess potential market reforms. Pricing strategy has been a key focus, with the company achieving strong renewal premium increases across all segments - Business Insurance renewal rates of 9.6%, reflecting management's commitment to maintaining rate adequacy in an inflationary environment. The company has been particularly proactive in managing umbrella and general liability lines, addressing early loss development trends in recent accident years. Digital transformation initiatives include modernizing technology platforms across business segments and developing proprietary capabilities with potential competitive advantages. The company is balancing in-house development with third-party solutions, focusing on areas where proprietary technology can create differentiation. Portfolio optimization efforts continue with selective approaches to risk exposure, enhanced reinsurance coverage for Northeast property and hurricane risks, and ongoing assessment of geographic concentrations in both commercial and personal lines.
TRV company profile · for informational purposes only — not investment advice.
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