Travelers Stock Ticks Higher After Upbeat Results

Analysts are still bearish toward the stock

Deputy Editor
Oct 19, 2022 at 10:59 AM
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Blue-chip insurance name Travelers Companies Inc (NYSE:TRV) is up 2.5% at $171.19 at last check, after the company's strong third-quarter results. Travelers reported earnings of $2.20 per share and revenue of $9.20 billion, both of which beat analysts' estimates, though quarterly profits fell 20% amid hurricane-related claims and lower returns on investments. 

On the charts, TRV is eyeing its highest close since mid-August, breaking above a slew of long-term moving averages, including the 140-day trendline. It's also worth noting that the security's 14-day relative strength index (RSI) of 74.1 sits firmly in "overbought" territory, meaning a short-term dip could be coming soon. Year-to-date, the equity is up 9.9%. 

The brokerage bunch has yet to chime in with any adjustments today. Of the 12 analysts in coverage, 10 still carry a tepid "hold" or worse rating on Travelers stock. Plus, the 12-month consensus target price of $174.47 is a slim 1.5% premium to current levels.

Short-term options traders have favored calls lately. This is per TRV's Schaeffer's put/call open interest ratio (SOIR) of 0.80, which sits higher than just 26% of readings from the last 12 months.



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