Guardian Life Insurance Co. of America decreased its position in The Travelers Companies, Inc. (NYSE:TRV) by 0.7% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,081 shares of the insurance provider’s stock after selling 8 shares during the period. Guardian Life Insurance Co. of America’s holdings in The Travelers Companies were worth $130,000 at the end of the most recent reporting period.
A number of other institutional investors also recently added to or reduced their stakes in the company. FMR LLC raised its position in The Travelers Companies by 42.1% in the first quarter. FMR LLC now owns 6,596,545 shares of the insurance provider’s stock worth $795,148,000 after buying an additional 1,954,573 shares during the period. WINTON GROUP Ltd raised its position in The Travelers Companies by 191.6% in the first quarter. WINTON GROUP Ltd now owns 695,246 shares of the insurance provider’s stock worth $79,640,000 after buying an additional 456,814 shares during the period. MARSHALL WACE ASIA Ltd bought a new position in The Travelers Companies during the first quarter worth $52,168,000. Hotchkis & Wiley Capital Management LLC raised its position in The Travelers Companies by 19.1% in the first quarter. Hotchkis & Wiley Capital Management LLC now owns 2,446,907 shares of the insurance provider’s stock worth $294,950,000 after buying an additional 391,807 shares during the period. Finally, Karp Capital Management Corp raised its position in The Travelers Companies by 9,291.9% in the first quarter. Karp Capital Management Corp now owns 374,267 shares of the insurance provider’s stock worth $45,114,000 after buying an additional 370,282 shares during the period. 79.01% of the stock is currently owned by institutional investors.
Shares of The Travelers Companies, Inc. (NYSE:TRV) traded down 0.08% during trading on Wednesday, hitting $129.11. The stock had a trading volume of 761,795 shares. The firm’s 50-day moving average is $126.93 and its 200-day moving average is $122.59. The firm has a market cap of $35.63 billion, a P/E ratio of 12.86 and a beta of 1.20. The Travelers Companies, Inc. has a one year low of $103.45 and a one year high of $129.91.
The Travelers Companies (NYSE:TRV) last issued its quarterly earnings data on Thursday, July 20th. The insurance provider reported $1.92 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $2.07 by $0.15. The business had revenue of $6.35 billion for the quarter, compared to analyst estimates of $6.31 billion. The Travelers Companies had a return on equity of 11.68% and a net margin of 10.15%. The business’s quarterly revenue was up 4.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.20 earnings per share. Equities research analysts forecast 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. Shareholders of record on Friday, September 8th will be given a $0.72 dividend. The ex-dividend date of this dividend is Thursday, September 7th. This represents a $2.88 dividend on an annualized basis and a yield of 2.23%. The Travelers Companies’s dividend payout ratio (DPR) is 28.77%.
The Travelers Companies declared that its board has initiated a stock buyback plan on Thursday, April 20th that authorizes the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization authorizes the insurance provider to reacquire shares of its stock through open market purchases. Shares repurchase plans are usually a sign that the company’s board believes its shares are undervalued.
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A number of equities research analysts have commented on TRV shares. Argus upgraded The Travelers Companies from a “hold” rating to a “buy” rating and set a $132.00 target price on the stock in a research report on Monday, April 24th. Citigroup Inc. lifted their target price on The Travelers Companies from $140.00 to $150.00 and gave the company a “buy” rating in a research report on Thursday, July 13th. Vetr upgraded The Travelers Companies from a “hold” rating to a “buy” rating and set a $132.68 price objective on the stock in a report on Tuesday, June 27th. Bank of America Corporation downgraded The Travelers Companies from a “buy” rating to a “neutral” rating and upped their price target for the stock from $120.62 to $129.44 in a report on Monday, June 19th. Finally, BidaskClub raised The Travelers Companies from a “hold” rating to a “buy” rating in a research report on Saturday, June 17th. Five equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and six have issued a buy rating to the company. The company has an average rating of “Hold” and an average price target of $123.79.
In other The Travelers Companies news, Vice Chairman William H. Heyman sold 7,000 shares of the company’s stock in a transaction that occurred on Thursday, May 25th. The stock was sold at an average price of $123.48, for a total value of $864,360.00. Following the completion of the sale, the insider now directly owns 246,744 shares in the company, valued at $30,467,949.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Vice Chairman Jay S. Benet sold 5,518 shares of the company’s stock in a transaction that occurred on Monday, July 31st. The stock was sold at an average price of $127.77, for a total value of $705,034.86. Following the completion of the sale, the insider now owns 82,824 shares of the company’s stock, valued at $10,582,422.48. The disclosure for this sale can be found here. Insiders sold 130,567 shares of company stock valued at $16,411,340 over the last 90 days. 0.82% of the stock is currently owned by insiders.
The Travelers Companies Company Profile
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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