Advisor Group Inc. trimmed its holdings in shares of The Travelers Companies, Inc. (NYSE:TRV) by 16.6% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 33,226 shares of the insurance provider’s stock after selling 6,628 shares during the period. Advisor Group Inc.’s holdings in The Travelers Companies were worth $4,073,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also modified their holdings of the company. Carnick & Kubik Group LLC purchased a new position in shares of The Travelers Companies during the 3rd quarter worth approximately $758,000. Robeco Institutional Asset Management B.V. purchased a new position in shares of The Travelers Companies during the 3rd quarter worth approximately $78,058,000. DekaBank Deutsche Girozentrale increased its stake in shares of 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 purchasing an additional 7,042 shares in the last quarter. Palisade Asset Management LLC increased its stake in shares of 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 purchasing an additional 400 shares in the last quarter. Finally, IBM Retirement Fund increased its stake in shares of 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 purchasing an additional 3,561 shares in the last quarter. 77.63% of the stock is owned by institutional investors and hedge funds.
A number of brokerages have recently weighed in on TRV. Zacks Investment Research cut shares of The Travelers Companies from a “hold” rating to a “sell” rating in a research note on Tuesday, September 5th. Barclays PLC raised their price objective on shares of The Travelers Companies from $119.00 to $122.00 and gave the stock an “equal weight” rating in a research note on Friday, August 11th. BidaskClub cut shares of The Travelers Companies from a “sell” rating to a “strong sell” rating in a research note on Tuesday, August 1st. Wells Fargo & Company set a $125.00 target price on shares of The Travelers Companies and gave the stock a “hold” rating in a research note on Tuesday. Finally, UBS AG lowered their target price on shares of The Travelers Companies from $126.00 to $125.00 and set a “neutral” rating for the company in a research note on Tuesday, September 19th. Five research analysts have rated the stock with a sell rating, nine have assigned a hold rating and nine have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $128.54.
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The Travelers Companies, Inc. (NYSE TRV) traded down $2.22 during trading hours on Tuesday, hitting $133.32. 2,742,600 shares of the company traded hands, compared to its average volume of 1,486,846. The company has a debt-to-equity ratio of 0.29, a current ratio of 0.41 and a quick ratio of 0.41. The firm has a market cap of $37,096.74, a price-to-earnings ratio of 16.55, a price-to-earnings-growth ratio of 2.50 and a beta of 1.26. The Travelers Companies, Inc. has a 1-year low of $110.40 and a 1-year high of $135.71.
The Travelers Companies (NYSE:TRV) last posted its earnings results on Thursday, October 19th. The insurance provider reported $0.91 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $2.10 by ($1.19). The business had revenue of $6.66 billion for the quarter, compared to analyst estimates of $6.46 billion. The Travelers Companies had a net margin of 8.56% and a return on equity of 9.87%. The business’s revenue was up 4.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.40 EPS. equities research analysts forecast that The Travelers Companies, Inc. will post 7.23 EPS for the current year.
The Travelers Companies declared that its Board of Directors has approved a share repurchase program on Monday, September 11th that permits the company to repurchase outstanding shares. This repurchase authorization permits the insurance provider to buy shares of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 29th. Investors of record on Monday, December 11th will be issued a dividend of $0.72 per share. The ex-dividend date is Friday, December 8th. This represents a $2.88 annualized dividend and a dividend yield of 2.16%. The Travelers Companies’s payout ratio is 33.45%.
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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