First National Bank of Omaha reduced its position in shares of The Travelers Companies, Inc. (NYSE:TRV) by 0.5% during the second quarter, according to its most recent filing with the SEC. The firm owned 74,931 shares of the insurance provider’s stock after selling 401 shares during the period. First National Bank of Omaha’s holdings in The Travelers Companies were worth $9,482,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in TRV. Quadrature Capital Ltd purchased a new position in shares of The Travelers Companies during the fourth quarter worth about $8,044,000. RMB Capital Management LLC boosted its position in shares of The Travelers Companies by 102.9% in the fourth quarter. RMB Capital Management LLC now owns 2,138 shares of the insurance provider’s stock worth $262,000 after buying an additional 75,363 shares during the period. Perigon Wealth Management LLC purchased a new position in shares of The Travelers Companies during the fourth quarter worth about $6,001,000. HighPoint Advisor Group LLC boosted its position in shares of The Travelers Companies by 1.1% in the fourth quarter. HighPoint Advisor Group LLC now owns 2,921 shares of the insurance provider’s stock worth $365,000 after buying an additional 33 shares during the period. Finally, Becker Capital Management Inc. boosted its position in shares of The Travelers Companies by 116.1% in the fourth quarter. Becker Capital Management Inc. now owns 5,100 shares of the insurance provider’s stock worth $607,000 after buying an additional 2,740 shares during the period. 79.01% of the stock is currently owned by institutional investors and hedge funds.
Shares of The Travelers Companies, Inc. (NYSE TRV) traded up 0.10% during trading on Friday, hitting $129.69. 1,952,516 shares of the stock were exchanged. The Travelers Companies, Inc. has a 52 week low of $103.45 and a 52 week high of $130.00. The stock’s 50 day moving average price is $126.93 and its 200 day moving average price is $122.59. The firm has a market capitalization of $35.79 billion, a price-to-earnings ratio of 12.91 and a beta of 1.20.
The Travelers Companies (NYSE:TRV) last released its earnings results on Thursday, July 20th. The insurance provider reported $1.92 EPS for the quarter, missing the Thomson Reuters’ 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 the consensus estimate of $6.31 billion. During the same period in the prior year, the business posted $2.20 EPS. The Travelers Companies’s revenue for the quarter was up 4.7% on a year-over-year basis. On average, equities analysts predict that The Travelers Companies, Inc. will post $8.92 earnings per share for the current year.
The Travelers Companies announced that its Board of Directors has approved a share repurchase program on Thursday, April 20th that authorizes the company to repurchase $5.00 billion in shares. This repurchase authorization authorizes the insurance provider to repurchase shares of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s leadership believes its stock is undervalued.
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Friday, September 8th will be issued a dividend of $0.72 per share. This represents a $2.88 annualized dividend and a dividend yield of 2.22%. The ex-dividend date is Thursday, September 7th. The Travelers Companies’s dividend payout ratio is currently 28.77%.
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TRV has been the topic of a number of recent analyst reports. Argus raised shares of The Travelers Companies from a “hold” rating to a “buy” rating and set a $132.00 price objective on the stock in a research note on Monday, April 24th. Royal Bank Of Canada reissued a “buy” rating and issued a $126.00 price objective on shares of The Travelers Companies in a research note on Monday, May 22nd. Keefe, Bruyette & Woods restated a “hold” rating and issued a $115.00 target price on shares of The Travelers Companies in a research report on Thursday, May 25th. BidaskClub upgraded shares of The Travelers Companies from a “hold” rating to a “buy” rating in a research report on Saturday, June 17th. Finally, Bank of America Corporation lowered shares of The Travelers Companies from a “buy” rating to a “neutral” rating and raised their target price for the company from $120.62 to $129.44 in a research report on Monday, June 19th. Five investment analysts have rated the stock with a sell rating, seven have issued a hold rating and six have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $123.79.
In other news, Vice Chairman William H. Heyman sold 6,000 shares of the firm’s stock in a transaction dated Wednesday, August 2nd. The shares were sold at an average price of $129.50, for a total value of $777,000.00. Following the completion of the sale, the insider now directly owns 245,744 shares of the company’s stock, valued at approximately $31,823,848. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Vice Chairman William H. Heyman sold 7,000 shares of The Travelers Companies stock in a transaction dated Thursday, May 25th. The shares were sold at an average price of $123.48, for a total transaction of $864,360.00. Following the transaction, the insider now directly owns 246,744 shares of the company’s stock, valued at $30,467,949.12. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 163,894 shares of company stock worth $20,759,812. 0.82% of the stock is owned by 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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