The Travelers Companies, Inc.
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Range $290 – $430
Price Chart
About the company
The Travelers Companies, Inc. , through its network of subsidiaries, delivers a broad spectrum of commercial and personal property and casualty insurance products and services. These offerings cater to businesses, government entities, associations, and individual clients both within the United States and internationally.
- CEO
- Alan D. Schnitzer
- IPO
- 1975
- Employees
- 34,000
- HQ
- New York City, NY, US
AI snapshot
Six angles, distilled from the data.
TRV remains in a strong multi-month uptrend and sits well above its 200-day moving average of 333.05, with the 50-day at 377.72 also trending higher. The stock is still near the top of its 52-week range of 265.01 to 418, which keeps the regime constructive despite recent consolidation.
The Street is cautious but not bearish: consensus sits at Hold with a 356.18 average target, below the current trading range and under the 395.20 close. Recent action has been mixed, with several target raises offset by downgrades, while the latest calls still cluster around neutral rather than outright bullish.
Travelers has a perfect recent beat streak, with 8 straight EPS beats and the latest quarter topping estimates by 29.8%. Next-year EPS estimates are still below the current TTM run rate, so shareholders should watch whether underwriting strength and buybacks keep supporting earnings power.
Recent insider activity leans to net selling, with 8 sales and no open-market buys. Most of the activity is concentrated in executive sales, while several large awards, exempt transactions, and an in-kind transfer look mechanical rather than discretionary signal.
Profitability is strong, with a 27.5% ROE, 20.0% operating margin, and 17.0% net margin. Revenue was essentially flat year over year at -0.5%, but earnings still grew 9.7%, and the balance sheet remains solid with $26.17 billion of cash versus $9.27 billion of debt.
TRV screens as a high-quality property and casualty name with better profitability and balance-sheet strength than many peers. At 10.68x earnings, it trades at a modest valuation for a carrier with a 26.2% FCF yield and a net cash position.
Similar companies
Peers in the same neighborhood.
- Market Cap
- $81.87B
- P/E
- 10.18
- Fwd P/E
- 10.90
- PEG
- 0.20
- P/S
- 1.65
- P/B
- 2.81
- EV/EBITDA
- 7.80
- Div Yield
- 1.19%
- Gross Margin
- 34.86%
- Op Margin
- 21.65%
- Net Margin
- 17.03%
- ROE
- 26.24%
- ROIC
- 18.30%
Latest fiscal year · YoY change
- Revenue
- $48.83B+5.2%
- Gross Profit
- $14.34B+15.7%
- Op Income
- $7.80B
- Net Income
- $6.29B+25.8%
- EPS
- $27.84+27.9%
- OCF Growth
- +16.9%
- FCF Growth
- +16.9%
- 52W High
- $418.00
- 52W Low
- $268.00
- 50D MA
- $379.64
- 200D MA
- $334.83
- Beta
- 0.41
- RSI (14)
- 57
- Avg Volume
- 1.46M
Earnings call summaries
Pick a quarter — each call distilled into takeaways, results, and a bull vs bear read.
Travelers reported another strong quarter, with record core income, excellent underwriting, rising investment income, and continued aggressive capital returns.· October 16, 2026
- Core income was $1.95 billion, or $9.18 per diluted share, with a 22.1% core ROE; the trailing 12-month core ROE was 24.1%.
- The combined ratio improved to 86.8%, while the underlying combined ratio stayed very strong at 84.1%; after-tax underlying underwriting income was $1.4 billion.
- After-tax net investment income rose 7% to $908 million, and management now expects about $875 million in Q4, implying full-year 2026 fixed income NII of $3.3 billion.
- The company returned $1.8 billion of capital in the quarter, including $1.5 billion of buybacks; since the start of 2025 it has returned $8 billion and retired 12% of shares outstanding.
- Management said pricing is stable overall and reiterated confidence in the durability of underlying underwriting income, while flagging higher variable expenses from strong underwriting results.
- results":"Travelers reported third-quarter 2026 core income of $1.95 billion, or $9.18 per diluted share, with core ROE of 22.1% and trailing 12-month core ROE of 24.1%. The combined ratio improved to 86.8%, and the underlying combined ratio was 84.1%; pretax underwriting income was $1.4 billion. After-tax net investment income increased 7% to $908 million, and catastrophe losses were $538 million pretax. Net favorable prior year reserve development was $234 million pretax, including a $295 million asbestos charge in Business Insurance, offset by favorable development in all three segments. For guidance, management expects Q4 after-tax fixed income net investment income of approximately $875 million, full-year 2026 fixed income NII of $3.3 billion, and 2027 quarterly NII to start around $875 million in Q1 and rise to about $965 million in Q4. They also said full-year 2026 expense ratio should come in a little below 29% and be about the same in 2027.\n\nSegment net written premiums were $5.9 billion in Business Insurance, $1.2 billion in Bond and Specialty, and $4.4 billion in Personal Insurance. Business Insurance renewal premium change was 4.1% and retention 86%; Bond and Specialty net written premiums grew 12%; Personal Insurance combined ratio was 83.5% with an underlying combined ratio of 76.7%. Management said the Q4 cyber reinsurance change will reduce net written premiums by about $165 million in Q4 and by about $230 million in full-year 2027, with de minimis bottom-line impact.","ceo":"Alan Schnitzer characterized the quarter as excellent and emphasized that Travelers is compounding the benefits of underwriting discipline, investment income, and strategic investment in technology and claims handling. He highlighted the company’s focus on legal system abuse and said new tools, including AI-supported claims and underwriting workflows, should help Travelers ‘bend the law cost curve.’ His tone was confident and forward-looking, repeatedly pointing to scale, innovation, and the strength of the business model as reasons for optimism into 2027 and beyond.","cfo":"Daniel Frey focused on the hard financials: $1.95 billion of core income, $1.4 billion of after-tax underlying underwriting income, 84.1% underlying combined ratio, and $908 million of after-tax net investment income, up 7%. He noted operating cash flow of $3.9 billion in the quarter and $8 billion year to date, plus $1.8 billion returned to shareholders in Q3 via $1.5 billion of repurchases and $261 million of dividends. He also detailed capital and portfolio items, including the July issuance of $750 million of 5-year debt at 4.95%, the rise in net unrealized investment losses to $6.4 billion after-tax, and updated NII guidance of about $875 million in Q4 and $3.3 billion for 2026.","qanda":"Analysts focused on the durability of Travelers’ underlying underwriting income, reserve development in Business Insurance, the trend in loss costs, and whether AI/distribution changes could alter growth or margins. Management said the $5.5 billion-ish underlying underwriting income base remains durable, though it may move modestly, and that 2027 could be a bit higher, lower, or flat; they also said reserve releases were broad-based across lines and mostly from more recent accident years. On competitive pressure and AI-driven distribution, management said adoption is still early, most digital trading remains at the simplest end of insurance, and Travelers is preparing through digital capabilities, but sees no near-term evidence of a disruptive step change. They also said current claims scrutiny is something they actively monitor and engage on with regulators and industry groups, while defending their own claims practices as disciplined and fair.","bull":"The bull case from this call is that Travelers continues to deliver exceptional underwriting profitability while still growing net written premiums in key businesses. Management sounded confident that its claims, pricing, analytics, and AI investments are creating a durable competitive advantage, with potential for further operating leverage and long-term growth. Strong capital generation and buybacks also support per-share value creation.","bear":"The main risks discussed were continuing pressure in long-tail casualty and liability claims, higher unrevealed reserve uncertainty in recent accident years, and the possibility that pricing could keep moderating. Management also flagged higher variable expenses from strong underwriting results and noted that interest-rate-driven unrealized losses widened to $6.4 billion after-tax, even if they do not affect cash flow or capital. In Personal Insurance, pricing is easing and growth is being managed deliberately rather than aggressively."}**}```<|end of file|>}```}]}]}】}```}]]]}}]}]}]}]}]}]}]}}}]}]}]}】}]}]}]}]}]}]}]}]}]}]}]}]}]}]}]}]}]}]}]}]}]}]}]}]}]}]}]}]}]}]}]}]}]}]}]}]}]}]}]}]}]}]}]}]}]}]}]}]}]}]}]}]}]}]}]}]}]}]}]}]}]}]}]}]}]}]}]}]}]}]}]}]}]}]}]}]}]}]}]}]}]}]}]}]}]}]}]}]}]}]}]}]}]}]}]}]}]}]}]}]}]}]}]}]}]}]}]}]}]}]}]}]}]}]}]}}}```
AI summary of the company's earnings call · Paraphrased · Not investment advice
- Free Float
- 99.5%
- Shares Outstanding
- 204.95M
- Float Shares
- 203.91M
of shares held by institutions
1,900 13F filers
Buy/sell ratio 0.26. Sells can include pre-scheduled 10b5-1 plan sales, not just discretionary selling.
Congressional trading
Senate and House stock disclosures for TRV, newest first.
| Member | Type | Traded | |
|---|---|---|---|
| John BoozmanSenate · AR | Sell | Jul 2, 26 | Filing → |
| Thomas Hawley TubervilleSenate · AL | Sell | Oct 29, 24 | Filing → |
| Alan ArmstrongSenate | Buy | Mar 27, 26 | Filing → |
| Ro KhannaHouse · CA17 | Buy | Jun 2, 26 | Filing → |
| Julia LetlowHouse · LA05 | Buy | Feb 20, 26 | Filing → |
| Ro KhannaHouse · CA17 | Sell | Jan 13, 26 | Filing → |
| Val HoyleHouse · OR04 | Sell | Sep 23, 25 | Filing → |
| Val HoyleHouse · OR04 | Buy | Oct 29, 24 | Filing → |
| Thomas Hawley TubervilleSenate · AL | Sell | Oct 29, 24 | Filing → |
| Ro KhannaHouse · CA17 | Buy | Oct 14, 24 | Filing → |
| Ro KhannaHouse · CA17 | Sell | Jan 10, 24 | Filing → |
| Ro KhannaHouse · CA17 | Buy | Oct 10, 23 | Filing → |
| Ro KhannaHouse · CA17 | Sell | Sep 6, 23 | Filing → |
| Ro KhannaHouse · CA17 | Buy | Jun 29, 23 | Filing → |
Source: public STOCK Act disclosures. Filed weeks after the trade — a lagging signal, not a real-time one.
Top institutional holders
Largest 13F positions, with quarter-over-quarter change.
| Holder | Shares | Δ Quarter |
|---|---|---|
| Vanguard Group Inc | 22.11M | ▲ 110.31K |
| Blackrock, Inc. | 20.95M | ▼ 683.37K |
| State Street Corp | 15.71M | ▼ 427.96K |
| Vanguard Capital Management LLC | 13.89M | ▼ 163.72K |
| Fmr LLC | 10.27M | ▼ 1.73M |
| Vanguard Portfolio Management LLC | 8.31M | ▲ 2.92M |
| Geode Capital Management, LLC | 6.28M | ▼ 37.80K |
| Massachusetts Financial Services Co | 4.24M | ▼ 662.38K |
| Morgan Stanley | 3.83M | ▲ 254.29K |
| Dimensional Fund Advisors LP | 3.64M | ▲ 87.56K |
| Jpmorgan Chase & Co | 3.11M | ▼ 613.90K |
| Aqr Capital Management LLC | 2.84M | ▲ 379.34K |
Held by 2,102 ETFs
Biggest fund positions in TRV by dollar value.
Recent insider transactions
Who's buying, who's selling, and how much.
| Date | Insider | Type | Shares |
|---|---|---|---|
| Nov 5, 26 | Goldwasser Lesley | other | 280 |
| Nov 4, 26 | Goldwasser Lesley | other | 0 |
| Nov 4, 26 | OLIVO MARIA | sell | 15,000 |
| Oct 28, 26 | BESSETTE ANDY F | sell | 2,999.709 |
| Oct 28, 26 | BESSETTE ANDY F | other | 25 |
| Oct 27, 26 | Lefebvre Mojgan M | other | 11,000 |
| Oct 27, 26 | Lefebvre Mojgan M | other | 11,000 |
| Oct 27, 26 | Lefebvre Mojgan M | sell | 11,000 |
| Oct 21, 26 | Schnitzer Alan D | other | 298,368 |
| Oct 21, 26 | Schnitzer Alan D | other | 209,468 |
A “Sell” may be a pre-scheduled 10b5-1 plan sale rather than a discretionary decision — read insider selling with that in mind.
Our TRV coverage
Recent articles, reports, and earnings notes.
Travelers (TRV): Underwriting Strength, But Valuation Limits Upside
Travelers delivered standout Q2 2026 profitability with a 24.9% core ROE and an 83.6% combined ratio, but the stock already reflects much of that quality. The report lands on a Hold as underwriting discipline and capital generation are offset by a limited margin of safety.
The Travelers Companies, Inc. (TRV) gains on deep earnings beat
The Travelers Companies, Inc. (TRV) gained after a strong quarterly beat, but the real story sits in the details: improving underwriting, resilient investment income, and disciplined capital returns. This deep-dive breaks down the drivers behind the earnings surprise, segment trends, reserve dynamics, and what they may mean for the stock ahead.
The Travelers Companies, Inc. (TRV) gains on earnings beats
The Travelers Companies, Inc. (TRV) gains 0.9% after reporting earnings beats, as investors react positively to stronger-than-expected results and improved outlook signals.
Want a deeper read on TRV?
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Headlines from third-party outlets — TickerSpark isn't affiliated with these sources.
AI analysis · Last refreshed November 8, 2026 · Live quote · Not investment advice