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The Travelers Companies, Inc. — Intrinsic Value & Fair Price

TRV
NYSEFinancial ServicesInsurance - Property & CasualtyCIK 0000086312travelers.comAbout TRV
Last close · Oct 16, 2026389.54+5.65 (+1.47%)
Market cap$81.2B
Model value · P/B · justified
258.72
Travelers Companies closed at $389.54 — overvalued by 51% vs model.
226.38the model's range301.84

P/B · justified leads for an insurer. From the justified price to book.

Other models
83.87 – 413.88
Wall St. target
379.00 3% above
Above model, 1y
20 of 20 days

Price and model value

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What the marks mean
Daily close

Dividends

Quarterly · as of Oct 16, 2026
Yield, trailing 12 months
1.21%
Past 2 years
low 1.15%high 1.93%
Dividends per share, a year at a time
$3.46Sep ’21$3.62Sep ’22$3.86Sep ’23$4.10Sep ’24$4.30Sep ’25$4.70TTM
Dividends / earnings, FY2025
15.6%
Raised
20 years in a row
Growth, 5 yrs
6.3% a year
Last change
+13.6% · Jun 2026
Every payment, with ex-dates · latest $1.25, paid Sep 30, 2026

Research on TRV

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How it is valued

Valued asInsurer
Low/slowing growth (~9% recent)Moderate margins (13% net margin)Pays dividendsHighly cyclical earnings
What growth the price implies: the reverse DCF

Key figures

FY2025 · chosen for insurers
Price / book
2.7×
Return on equity
19.1%
P/E
14.2×
Dividend yield, TTM
1.21%
Payout ratio
15.6%
Debt / equity
0.3
Full financials

Analyst actions

third-party, quoted
10-07Cantor Fitzgerald · target378.00
07-21BMO Capital · “Market Perform” from “Outperform”downgrade
07-21BMO Capital · target379.00
07-20Goldman Sachs · target350.00
Ratings, targets and estimates

The weekly

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About Travelers Companies

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. The company's operations are divided into three primary segments: Business Insurance, Bond & Specialty Insurance, and Personal Insurance. The Business Insurance segment provides a comprehensive portfolio of commercial coverages, ranging from foundational offerings like workers' compensation, commercial auto, property, general liability, multi-peril, and employers' liability, to more specialized policies. These specialized offerings include public and product liability, professional indemnity, marine, aviation, onshore and offshore energy, construction, terrorism, personal accident, and even kidnap and ransom insurance. This segment serves a diverse clientele, from small and mid-sized enterprises to large corporations, and also focuses on sectors like commercial trucking and agriculture. Its products are distributed through a robust network of independent brokers, wholesale agents, and program managers. The Bond & Specialty Insurance segment focuses on providing surety and fidelity bonds, as well as management and professional liability insurance. Additionally, it offers other property and casualty coverages paired with crucial risk management services. Distribution for this segment is handled via independent agencies and brokers. Lastly, the Personal Insurance segment addresses individual needs by offering property and casualty insurance for personal risks. Its primary focus areas are automobile and homeowners insurance, which are also made available to consumers through independent agencies and brokers. Founded in 1853, The Travelers Companies, Inc. maintains its headquarters in New York, New York.

CEO
Alan D. Schnitzer
Headquarters
New York City, NY
Employees
34,000
IPO
1975-11-17
Full company profile

Model estimates for research reference only, not investment advice. Every model rests on assumptions that may not match what happens; the formulas are in how we value a stock.