Meridian Investment Counsel Inc. Maintains Stake in The Travelers Companies, Inc. (TRV)

Meridian Investment Counsel Inc. maintained its position in The Travelers Companies, Inc. (NYSE:TRV) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 19,613 shares of the insurance provider’s stock at the close of the 2nd quarter. The Travelers Companies comprises 1.5% of Meridian Investment Counsel Inc.’s portfolio, making the stock its 16th largest position. Meridian Investment Counsel Inc.’s holdings in The Travelers Companies were worth $2,482,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in the company. Tradewinds Capital Management LLC increased its stake in The Travelers Companies by 1.1% during the 2nd quarter. Tradewinds Capital Management LLC now owns 905 shares of the insurance provider’s stock worth $115,000 after buying an additional 10 shares during the period. Community Bank N.A. increased its stake in The Travelers Companies by 0.7% during the 2nd quarter. Community Bank N.A. now owns 1,435 shares of the insurance provider’s stock worth $181,000 after buying an additional 10 shares during the period. First Business Financial Services Inc. increased its stake in The Travelers Companies by 0.5% during the 2nd quarter. First Business Financial Services Inc. now owns 4,362 shares of the insurance provider’s stock worth $552,000 after buying an additional 20 shares during the period. Northern Oak Wealth Management Inc. increased its stake in The Travelers Companies by 0.5% during the 1st quarter. Northern Oak Wealth Management Inc. now owns 4,873 shares of the insurance provider’s stock worth $587,000 after buying an additional 23 shares during the period. Finally, Lee Danner & Bass Inc. increased its stake in The Travelers Companies by 0.4% during the 2nd quarter. Lee Danner & Bass Inc. now owns 6,574 shares of the insurance provider’s stock worth $832,000 after buying an additional 24 shares during the period. 77.48% of the stock is currently owned by institutional investors and hedge funds.

In related news, Vice Chairman William H. Heyman sold 24,000 shares of The Travelers Companies stock in a transaction on Tuesday, July 25th. The shares were sold at an average price of $126.64, for a total value of $3,039,360.00. Following the completion of the sale, the insider now owns 253,744 shares in the company, valued at $32,134,140.16. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Andy F. Bessette sold 3,300 shares of The Travelers Companies stock in a transaction on Tuesday, August 1st. The stock was sold at an average price of $128.50, for a total transaction of $424,050.00. Following the completion of the sale, the executive vice president now owns 10,000 shares of the company’s stock, valued at approximately $1,285,000. The disclosure for this sale can be found here. In the last 90 days, insiders sold 133,841 shares of company stock valued at $17,135,116. Insiders own 0.82% of the company’s stock.

The Travelers Companies, Inc. (TRV) opened at 125.07 on Friday. The firm has a market cap of $34.51 billion, a PE ratio of 12.45 and a beta of 1.20. The stock has a 50 day moving average of $122.49 and a 200 day moving average of $123.81. 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 data on Thursday, July 20th. The insurance provider reported $1.92 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.07 by ($0.15). The firm had revenue of $6.35 billion for the quarter, compared to analysts’ expectations of $6.31 billion. The Travelers Companies had a net margin of 10.15% and a return on equity of 11.68%. The company’s revenue for the quarter was up 4.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.20 EPS. On average, equities analysts forecast that The Travelers Companies, Inc. will post $7.43 earnings per share for the current year.

The business also recently declared a quarterly dividend, which was paid on Friday, September 29th. Investors of record on Friday, September 8th were paid a $0.72 dividend. The ex-dividend date of this dividend was Thursday, September 7th. This represents a $2.88 dividend on an annualized basis and a dividend yield of 2.30%. The Travelers Companies’s dividend payout ratio (DPR) is presently 28.77%.

The Travelers Companies announced that its Board of Directors has initiated a share repurchase program on Monday, September 11th that authorizes the company to repurchase shares. This repurchase authorization authorizes the insurance provider to buy shares of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s management believes its shares are undervalued.

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Several equities research analysts recently weighed in on TRV shares. BidaskClub raised shares of The Travelers Companies from a “hold” rating to a “buy” rating in a research note on Saturday, June 17th. Bank of America Corporation downgraded shares of The Travelers Companies from a “buy” rating to a “neutral” rating and upped their target price for the stock from $120.62 to $129.44 in a research note on Monday, June 19th. Keefe, Bruyette & Woods reaffirmed a “hold” rating on shares of The Travelers Companies in a research note on Tuesday, June 20th. Vetr raised shares of The Travelers Companies from a “hold” rating to a “buy” rating and set a $132.68 target price on the stock in a research note on Tuesday, June 27th. Finally, Morgan Stanley reaffirmed an “underweight” rating and set a $119.00 target price (up from $112.00) on shares of The Travelers Companies in a research note on Friday, July 7th. Five analysts have rated the stock with a sell rating, nine have assigned a hold rating and eight have assigned a buy rating to the company. The Travelers Companies has an average rating of “Hold” and a consensus target price of $125.71.

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.

Institutional Ownership by Quarter for The Travelers Companies (NYSE:TRV)

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