Bronfman E.L. Rothschild L.P. increased its stake in shares of The Travelers Companies, Inc. (NYSE:TRV) by 2.8% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,153 shares of the insurance provider’s stock after buying an additional 140 shares during the period. Bronfman E.L. Rothschild L.P.’s holdings in The Travelers Companies were worth $652,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently modified their holdings of the company. DekaBank Deutsche Girozentrale lifted its position in The Travelers Companies by 5.4% during the 2nd quarter. DekaBank Deutsche Girozentrale now owns 137,846 shares of the insurance provider’s stock worth $17,537,000 after buying an additional 7,042 shares in the last quarter. IBM Retirement Fund lifted its position in The Travelers Companies by 109.5% during the 2nd quarter. IBM Retirement Fund now owns 6,812 shares of the insurance provider’s stock worth $963,000 after buying an additional 3,561 shares in the last quarter. Palisade Asset Management LLC lifted its position in The Travelers Companies by 2.2% during the 2nd quarter. Palisade Asset Management LLC now owns 18,569 shares of the insurance provider’s stock worth $2,350,000 after buying an additional 400 shares in the last quarter. Teza Capital Management LLC acquired a new position in The Travelers Companies during the 1st quarter worth about $1,637,000. Finally, Lincoln National Corp acquired a new position in The Travelers Companies during the 1st quarter worth about $275,000. Institutional investors and hedge funds own 77.55% of the company’s stock.
Shares of The Travelers Companies, Inc. (NYSE:TRV) opened at 120.70 on Friday. The company has a market capitalization of $33.31 billion, a PE ratio of 12.02 and a beta of 1.21. The stock has a 50 day moving average price of $125.15 and a 200-day moving average price of $123.83. The Travelers Companies, Inc. has a 52 week low of $103.45 and a 52 week high of $130.37.
The Travelers Companies (NYSE:TRV) last announced its quarterly earnings results on Thursday, July 20th. The insurance provider reported $1.92 EPS for the quarter, missing the Zacks’ 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 firm had revenue of $6.35 billion for the quarter, compared to analyst estimates of $6.31 billion. During the same period in the previous year, the business posted $2.20 earnings per share. The business’s revenue for the quarter was up 4.7% compared to the same quarter last year. Equities research analysts expect that The Travelers Companies, Inc. will post $7.64 EPS for the current year.
The business also recently disclosed 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. This represents a $2.88 dividend on an annualized basis and a dividend yield of 2.39%. 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 approved a share buyback program on Monday, September 11th that authorizes the company to repurchase outstanding shares. This repurchase authorization authorizes the insurance provider to purchase shares of its stock through open market purchases. Shares repurchase programs are typically an indication that the company’s board of directors believes its shares are undervalued.
In related news, Vice Chairman Jay S. Benet sold 5,518 shares of The Travelers Companies stock in a transaction that occurred on Monday, June 26th. The stock was sold at an average price of $127.49, for a total value of $703,489.82. Following the transaction, the insider now directly owns 82,824 shares of the company’s stock, valued at $10,559,231.76. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Kenneth Franklin Spence III sold 4,800 shares of The Travelers Companies stock in a transaction that occurred on Monday, August 14th. The stock was sold at an average price of $128.73, for a total value of $617,904.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 150,395 shares of company stock worth $19,249,559. 0.82% of the stock is owned by insiders.
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Several research analysts recently issued reports on the stock. Zacks Investment Research upgraded shares of The Travelers Companies from a “sell” rating to a “hold” rating in a research report on Thursday. Wells Fargo & Company reiterated a “hold” rating and set a $125.00 price target on shares of The Travelers Companies in a research report on Tuesday, September 12th. Credit Suisse Group reduced their price target on shares of The Travelers Companies from $128.00 to $125.00 and set a “neutral” rating on the stock in a research report on Tuesday, September 12th. Buckingham Research assumed coverage on shares of The Travelers Companies in a research report on Monday, September 11th. They set a “buy” rating and a $136.00 price target on the stock. Finally, ValuEngine upgraded shares of The Travelers Companies from a “hold” rating to a “buy” rating in a research report on Friday, September 1st. Five investment analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have given a buy rating to the stock. The Travelers Companies currently has a consensus rating of “Hold” and an average target price of $126.26.
The Travelers Companies 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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