Iowa State Bank cut its position in shares of The Travelers Companies, Inc. (NYSE:TRV) by 3.1% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 30,310 shares of the insurance provider’s stock after selling 964 shares during the period. The Travelers Companies makes up about 1.8% of Iowa State Bank’s holdings, making the stock its 25th largest position. Iowa State Bank’s holdings in The Travelers Companies were worth $3,835,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently made changes to their positions in TRV. Abner Herrman & Brock LLC boosted its position in shares of The Travelers Companies by 0.6% in the first quarter. Abner Herrman & Brock LLC now owns 66,963 shares of the insurance provider’s stock worth $8,072,000 after buying an additional 373 shares during the last quarter. Cape Cod Five Cents Savings Bank boosted its position in shares of The Travelers Companies by 368.0% in the first quarter. Cape Cod Five Cents Savings Bank now owns 11,058 shares of the insurance provider’s stock worth $1,333,000 after buying an additional 8,695 shares during the last quarter. Hexavest Inc. boosted its position in shares of The Travelers Companies by 3.1% in the first quarter. Hexavest Inc. now owns 663,180 shares of the insurance provider’s stock worth $79,940,000 after buying an additional 19,804 shares during the last quarter. State of Alaska Department of Revenue purchased a new position in shares of The Travelers Companies during the first quarter worth approximately $314,000. Finally, American Economic Planning Group Inc. ADV boosted its position in shares of The Travelers Companies by 0.6% in the first quarter. American Economic Planning Group Inc. ADV now owns 2,529 shares of the insurance provider’s stock worth $305,000 after buying an additional 15 shares during the last quarter. Institutional investors own 78.24% of the company’s stock.
Shares of The Travelers Companies, Inc. (NYSE:TRV) traded down 0.2546% on Friday, reaching $127.8636. The company had a trading volume of 606,181 shares. The company’s 50-day moving average is $127.26 and its 200-day moving average is $123.45. The company has a market capitalization of $35.28 billion, a PE ratio of 12.7329 and a beta of 1.20. The Travelers Companies, Inc. has a one year low of $103.45 and a one year high of $130.37.
The Travelers Companies (NYSE:TRV) last posted its quarterly earnings results on Thursday, July 20th. The insurance provider reported $1.92 earnings per share (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 previous year, the company earned $2.20 earnings per share. The business’s quarterly revenue was up 4.7% on a year-over-year basis. Equities research analysts predict that The Travelers Companies, Inc. will post $8.90 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Friday, September 8th will be given a dividend of $0.72 per share. The ex-dividend date of this dividend is Thursday, September 7th. This represents a $2.88 annualized dividend and a yield of 2.25%. The Travelers Companies’s payout ratio is 28.77%.
The Travelers Companies declared that its Board of Directors has approved a stock repurchase plan on Thursday, April 20th that permits the company to buyback $5.00 billion in shares. This buyback authorization permits the insurance provider to purchase shares of its stock through open market purchases. Shares buyback plans are usually an indication that the company’s management believes its stock is undervalued.
COPYRIGHT VIOLATION WARNING: “Iowa State Bank Cuts Position in The Travelers Companies, Inc. (TRV)” was originally posted by StockNewsTimes and is the property of of StockNewsTimes. If you are reading this report on another site, it was illegally stolen and republished in violation of United States & international copyright and trademark legislation. The original version of this report can be viewed at https://stocknewstimes.com/2017/08/18/iowa-state-bank-cuts-position-in-the-travelers-companies-inc-trv.html.
A number of research analysts have recently commented on the company. Barclays PLC increased their price target on The Travelers Companies from $119.00 to $122.00 and gave the company an “equal weight” rating in a research note on Friday, August 11th. Bank of America Corporation cut The Travelers Companies from a “buy” rating to a “neutral” rating and increased their price target for the company from $120.62 to $129.44 in a research note on Monday, June 19th. BidaskClub upgraded The Travelers Companies from a “hold” rating to a “buy” rating in a research note on Saturday, June 17th. Keefe, Bruyette & Woods reiterated a “hold” rating on shares of The Travelers Companies in a research note on Tuesday, June 20th. Finally, MKM Partners reiterated a “neutral” rating and issued a $130.00 price target (up from $115.00) on shares of The Travelers Companies in a research note on Wednesday, July 26th. Five analysts have rated the stock with a sell rating, seven have given a hold rating and six have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $124.01.
In other news, SVP Douglas K. Russell sold 9,686 shares of the company’s stock in a transaction dated Thursday, May 25th. The shares were sold at an average price of $123.00, for a total transaction of $1,191,378.00. Following the completion of the transaction, the senior vice president now directly owns 29,267 shares of the company’s stock, valued at $3,599,841. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Vice Chairman William H. Heyman sold 7,000 shares of the company’s 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. Over the last 90 days, insiders have sold 194,303 shares of company stock valued at $24,702,936. Company insiders own 0.82% of the company’s stock.
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.
Want to see what other hedge funds are holding TRV? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for The Travelers Companies, Inc. (NYSE:TRV).
Receive News & Ratings for The Travelers Companies Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for The Travelers Companies Inc. and related companies with MarketBeat.com's FREE daily email newsletter.
