State Street Corp Acquires 304,049 Shares of The Travelers Companies, Inc. (TRV)

State Street Corp raised its stake in shares of The Travelers Companies, Inc. (NYSE:TRV) by 1.6% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm 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 6.78% of The Travelers Companies worth $2,284,205,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. First Manhattan Co. increased its stake in shares of The Travelers Companies by 3.9% in the first quarter. First Manhattan Co. now owns 190,036 shares of the insurance provider’s stock valued at $21,768,000 after buying an additional 7,216 shares during the period. Teza Capital Management LLC purchased a new stake in shares of The Travelers Companies during the first quarter valued at $1,637,000. Lincoln National Corp purchased a new stake in shares of The Travelers Companies during the first quarter valued at $275,000. Janney Montgomery Scott LLC increased its stake in shares of The Travelers Companies by 5.4% in the first quarter. Janney Montgomery Scott LLC now owns 174,890 shares of the insurance provider’s stock valued at $21,081,000 after buying an additional 8,909 shares during the period. Finally, Great Lakes Advisors LLC increased its stake in shares of The Travelers Companies by 50.7% in the first quarter. Great Lakes Advisors LLC now owns 109,810 shares of the insurance provider’s stock valued at $13,236,000 after buying an additional 36,923 shares during the period. Institutional investors own 78.24% of the company’s stock.

The Travelers Companies, Inc. (NYSE TRV) opened at 129.47 on Thursday. The company’s 50-day moving average is $127.25 and its 200-day moving average is $123.41. The Travelers Companies, Inc. has a 52-week low of $103.45 and a 52-week high of $130.37. The firm has a market capitalization of $35.73 billion, a P/E ratio of 12.89 and a beta of 1.20.

The Travelers Companies (NYSE:TRV) last issued its quarterly earnings results on Thursday, July 20th. The insurance provider reported $1.92 earnings per share for the quarter, missing the Zacks’ 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 firm’s revenue for the quarter was up 4.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.20 EPS. On average, analysts predict that The Travelers Companies, Inc. will post $8.90 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Friday, September 8th will be paid a dividend of $0.72 per share. This represents a $2.88 dividend on an annualized basis and a yield of 2.22%. The ex-dividend date is Thursday, September 7th. The Travelers Companies’s dividend payout ratio is currently 28.77%.

The Travelers Companies declared that its board has authorized a stock buyback plan on Thursday, April 20th that allows the company to buyback $5.00 billion in shares. This buyback authorization allows the insurance provider to repurchase shares of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s management believes its stock is undervalued.

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Several equities research analysts have weighed in on TRV shares. Argus upgraded shares of The Travelers Companies from a “hold” rating to a “buy” rating and set a $132.00 target price for the company in a research note on Monday, April 24th. Royal Bank Of Canada restated a “buy” rating and issued a $126.00 target price on shares of The Travelers Companies in a research note on Monday, May 22nd. Citigroup Inc. restated a “buy” rating and issued a $148.00 target price (down from $150.00) on shares of The Travelers Companies in a research note on Monday, July 24th. Morgan Stanley restated an “underweight” rating and issued a $119.00 target price (up from $112.00) on shares of The Travelers Companies in a research note on Friday, July 7th. Finally, Keefe, Bruyette & Woods restated a “hold” rating on shares of The Travelers Companies in a research note on Tuesday, June 20th. Five equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and six have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $124.01.

In other news, EVP Andy F. Bessette sold 3,300 shares of the stock in a transaction dated Tuesday, August 1st. The shares were sold at an average price of $128.50, for a total value of $424,050.00. Following the completion of the transaction, the executive vice president now owns 10,000 shares in the company, valued at approximately $1,285,000. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Vice Chairman William H. Heyman sold 7,000 shares of the 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 completion of the transaction, the insider now owns 246,744 shares of the company’s stock, valued at approximately $30,467,949.12. The disclosure for this sale can be found here. In the last quarter, insiders have sold 194,303 shares of company stock valued at $24,702,936. 0.82% of the stock is owned by company 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.