State Street Corp boosted its position in shares of The Travelers Companies, Inc. (NYSE:TRV) by 1.6% during the first quarter, Holdings Channel reports. The institutional investor owned 18,949,803 shares of the insurance provider’s stock after buying an additional 304,049 shares during the period. State Street Corp owned about 0.07% of The Travelers Companies worth $2,284,205,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Fulton Bank N.A. purchased a new position in shares of The Travelers Companies during the first quarter worth approximately $201,000. CENTRAL TRUST Co boosted its position in shares of The Travelers Companies by 4.6% in the first quarter. CENTRAL TRUST Co now owns 9,199 shares of the insurance provider’s stock worth $1,109,000 after buying an additional 402 shares in the last quarter. Watch Point Trust Co boosted its position in shares of The Travelers Companies by 0.9% in the first quarter. Watch Point Trust Co now owns 16,040 shares of the insurance provider’s stock worth $1,933,000 after buying an additional 150 shares in the last quarter. Moreno Evelyn V boosted its position in shares of The Travelers Companies by 15.0% in the first quarter. Moreno Evelyn V now owns 51,155 shares of the insurance provider’s stock worth $6,167,000 after buying an additional 6,660 shares in the last quarter. Finally, Rosenbaum Jay D. boosted its position in shares of The Travelers Companies by 12.0% in the first quarter. Rosenbaum Jay D. now owns 5,025 shares of the insurance provider’s stock worth $605,000 after buying an additional 540 shares in the last quarter. 77.87% of the stock is currently owned by hedge funds and other institutional investors.
Shares of The Travelers Companies, Inc. (NYSE TRV) opened at 127.21 on Friday. The Travelers Companies, Inc. has a 12-month low of $103.45 and a 12-month high of $129.60. The firm has a 50 day moving average price of $126.75 and a 200 day moving average price of $122.35. The stock has a market cap of $35.10 billion, a PE ratio of 12.67 and a beta of 1.21.
The Travelers Companies (NYSE:TRV) last issued its quarterly earnings data on Thursday, July 20th. The insurance provider reported $1.92 EPS for the quarter, missing the consensus estimate of $2.07 by $0.15. The Travelers Companies had a net margin of 10.15% and a return on equity of 11.68%. The business had revenue of $6.35 billion for the quarter, compared to analysts’ expectations of $6.31 billion. During the same quarter in the prior year, the company posted $2.20 EPS. The business’s revenue for the quarter was up 4.7% on a year-over-year basis. On average, equities analysts expect that The Travelers Companies, Inc. will post $8.94 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Friday, September 8th will be paid a $0.72 dividend. The ex-dividend date is Thursday, September 7th. This represents a $2.88 dividend on an annualized basis and a yield of 2.26%. The Travelers Companies’s dividend payout ratio (DPR) is 28.77%.
The Travelers Companies declared that its Board of Directors has initiated a share buyback program on Thursday, April 20th that permits the company to repurchase $5.00 billion in shares. This repurchase authorization permits the insurance provider to reacquire shares of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.
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A number of research analysts have recently commented on the company. Bank of America Corporation cut The Travelers Companies from a “buy” rating to a “neutral” rating and upped their price target for the company from $120.62 to $129.44 in a research report on Monday, June 19th. BidaskClub raised The Travelers Companies from a “hold” rating to a “buy” rating in a research report on Saturday, June 17th. Keefe, Bruyette & Woods reaffirmed a “hold” rating on shares of The Travelers Companies in a research report on Tuesday, June 20th. MKM Partners reaffirmed a “neutral” rating and set a $130.00 price target (up previously from $115.00) on shares of The Travelers Companies in a research report on Wednesday. Finally, Vetr raised The Travelers Companies from a “hold” rating to a “buy” rating and set a $132.68 price target on the stock in a research report on Tuesday, June 27th. Five investment analysts have rated the stock with a sell rating, seven have given a hold rating and six have given a buy rating to the company’s stock. The Travelers Companies has an average rating of “Hold” and a consensus price target of $123.79.
In related news, EVP John P. Clifford, Jr. sold 5,500 shares of the firm’s stock in a transaction on Friday, May 5th. The stock was sold at an average price of $120.92, for a total value of $665,060.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Vice Chairman William H. Heyman sold 24,000 shares of the firm’s stock in a transaction on Tuesday, July 25th. The stock was sold at an average price of $126.64, for a total value of $3,039,360.00. Following the completion of the transaction, the insider now owns 253,744 shares of the company’s stock, valued at approximately $32,134,140.16. The disclosure for this sale can be found here. Insiders sold a total of 125,049 shares of company stock valued at $15,706,306 in the last 90 days. 0.82% of the stock is currently owned by company insiders.
About The Travelers Companies
The Travelers Companies, Inc is a holding company. The Company’s segments include Business and International Insurance; Bond & Specialty Insurance, and Personal Insurance. Through its subsidiaries, it provides commercial and personal property and casualty insurance products and services. The Business and International Insurance segment offers property and casualty insurance and insurance related services to its clients, in the United States and in Canada, as well as in the United Kingdom, the Republic of Ireland, Brazil and throughout other parts of the world.
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