Kayne Anderson Rudnick Investment Management LLC lifted its position in The Travelers Companies, Inc. (NYSE:TRV) by 3.7% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 145,301 shares of the insurance provider’s stock after purchasing an additional 5,174 shares during the quarter. Kayne Anderson Rudnick Investment Management LLC owned about 0.05% of The Travelers Companies worth $17,803,000 at the end of the most recent reporting period.
Other hedge funds have also recently modified their holdings of the company. Oak Associates Ltd. OH grew its position in The Travelers Companies by 4.9% in the third quarter. Oak Associates Ltd. OH now owns 67,540 shares of the insurance provider’s stock worth $8,275,000 after acquiring an additional 3,180 shares in the last quarter. Cambridge Investment Research Advisors Inc. grew its position in The Travelers Companies by 9.1% in the third quarter. Cambridge Investment Research Advisors Inc. now owns 47,360 shares of the insurance provider’s stock worth $5,803,000 after acquiring an additional 3,938 shares in the last quarter. Stratos Wealth Partners LTD. purchased a new position in The Travelers Companies in the third quarter worth about $1,051,000. Kwmg LLC grew its position in The Travelers Companies by 5.1% in the third quarter. Kwmg LLC now owns 14,103 shares of the insurance provider’s stock worth $1,728,000 after acquiring an additional 690 shares in the last quarter. Finally, Fjarde AP Fonden Fourth Swedish National Pension Fund grew its position in The Travelers Companies by 7.3% in the third quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 71,335 shares of the insurance provider’s stock worth $8,740,000 after acquiring an additional 4,823 shares in the last quarter. 77.63% of the stock is currently owned by hedge funds and other institutional investors.
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TRV has been the subject of several recent research reports. Royal Bank Of Canada reiterated a “buy” rating and issued a $135.00 price target on shares of The Travelers Companies in a research report on Monday, August 21st. Citigroup Inc. dropped their price target on The Travelers Companies from $142.00 to $140.00 and set a “buy” rating for the company in a research report on Monday, October 2nd. Zacks Investment Research upgraded The Travelers Companies from a “sell” rating to a “hold” rating in a research report on Thursday, September 14th. Credit Suisse Group dropped their price target on The Travelers Companies from $128.00 to $125.00 and set a “neutral” rating for the company in a research report on Tuesday, September 12th. Finally, ValuEngine upgraded The Travelers Companies from a “hold” rating to a “buy” rating in a research report on Friday, September 1st. Five research analysts have rated the stock with a sell rating, nine have given a hold rating and nine have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $128.54.
In other news, EVP Andy F. Bessette sold 2,000 shares of The Travelers Companies stock in a transaction that occurred on Tuesday, November 14th. The shares were sold at an average price of $132.98, for a total transaction of $265,960.00. Following the completion of the sale, the executive vice president now owns 8,000 shares of the company’s stock, valued at $1,063,840. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.82% of the company’s stock.
The Travelers Companies, Inc. (NYSE:TRV) traded down $2.90 during trading on Friday, hitting $130.81. 2,375,700 shares of the stock traded hands, compared to its average volume of 1,493,896. The company has a quick ratio of 0.41, a current ratio of 0.41 and a debt-to-equity ratio of 0.29. The Travelers Companies, Inc. has a 1 year low of $110.40 and a 1 year high of $135.71. The company has a market capitalization of $36,595.88, a P/E ratio of 16.33, a PEG ratio of 2.54 and a beta of 1.26.
The Travelers Companies (NYSE:TRV) last posted its quarterly 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 Travelers Companies had a net margin of 8.56% and a return on equity of 9.87%. The company had revenue of $6.66 billion for the quarter, compared to the consensus estimate of $6.46 billion. During the same period in the prior year, the firm posted $2.40 EPS. The business’s revenue was up 4.2% on a year-over-year basis. research analysts expect that The Travelers Companies, Inc. will post 7.01 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, December 29th. Stockholders of record on Monday, December 11th will be paid a dividend of $0.72 per share. This represents a $2.88 annualized dividend and a dividend yield of 2.20%. The ex-dividend date of this dividend is Friday, December 8th. The Travelers Companies’s dividend payout ratio is presently 33.45%.
The Travelers Companies declared that its Board of Directors has approved a share repurchase program on Monday, September 11th that allows the company to repurchase shares. This repurchase authorization allows the insurance provider to reacquire shares of its stock through open market purchases. Shares repurchase programs are typically a sign that the company’s leadership believes its stock is undervalued.
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.
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