Point72 Asset Management L.P. acquired a new stake in Travelers Companies Inc (NYSE:TRV) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 67,370 shares of the insurance provider’s stock, valued at approximately $8,254,000.
Other large investors have also recently bought and sold shares of the company. Beacon Investment Advisory Services Inc. raised its stake in shares of Travelers Companies by 224.2% in the 3rd quarter. Beacon Investment Advisory Services Inc. now owns 9,557 shares of the insurance provider’s stock valued at $1,171,000 after purchasing an additional 6,609 shares in the last quarter. Crestline Management LP acquired a new stake in shares of Travelers Companies in the 3rd quarter valued at about $7,780,000. Capital Guardian Trust Co. acquired a new stake in shares of Travelers Companies in the 3rd quarter valued at about $197,000. Caxton Associates LP acquired a new stake in shares of Travelers Companies in the 3rd quarter valued at about $600,000. Finally, Vident Investment Advisory LLC raised its stake in shares of Travelers Companies by 39.5% in the 3rd quarter. Vident Investment Advisory LLC now owns 26,531 shares of the insurance provider’s stock valued at $3,251,000 after purchasing an additional 7,515 shares in the last quarter. 78.67% of the stock is owned by institutional investors.
In other Travelers Companies news, EVP Michael Frederick Klein sold 20,077 shares of the firm’s stock in a transaction that occurred on Tuesday, November 21st. The shares were sold at an average price of $130.68, for a total value of $2,623,662.36. Following the sale, the executive vice president now owns 21,619 shares in the company, valued at $2,825,170.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Andy F. Bessette sold 2,000 shares of the firm’s 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 in the company, valued at approximately $1,063,840. The disclosure for this sale can be found here. Insiders sold 55,302 shares of company stock worth $7,347,753 in the last 90 days. 0.82% of the stock is owned by company insiders.
A number of equities research analysts have recently issued reports on TRV shares. Wells Fargo & Company restated a “hold” rating and issued a $125.00 target price on shares of Travelers Companies in a research note on Tuesday, September 12th. Credit Suisse Group cut their target price on shares of Travelers Companies from $128.00 to $125.00 and set a “neutral” rating on the stock in a research note on Tuesday, September 12th. B. Riley restated a “neutral” rating on shares of Travelers Companies in a research note on Monday, November 6th. Keefe, Bruyette & Woods restated a “buy” rating and issued a $152.00 target price on shares of Travelers Companies in a research note on Wednesday, December 6th. Finally, Royal Bank of Canada increased their price objective on shares of Travelers Companies to $140.00 and gave the stock an “outperform” rating in a research note on Friday, October 20th. Four analysts have rated the stock with a sell rating, nine have given a hold rating and eight have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $132.01.
Travelers Companies Inc (TRV) traded up $2.32 on Friday, reaching $134.89. 3,170,000 shares of the company traded hands, compared to its average volume of 1,600,000. The firm has a market capitalization of $36,920.00, a price-to-earnings ratio of 16.47, a price-to-earnings-growth ratio of 2.66 and a beta of 1.25. Travelers Companies Inc has a 52-week low of $113.76 and a 52-week high of $137.95. The company has a current ratio of 0.41, a quick ratio of 0.41 and a debt-to-equity ratio of 0.29.
Travelers Companies (NYSE:TRV) last released its quarterly earnings data on Thursday, October 19th. The insurance provider reported $0.91 earnings per share for the quarter, missing the 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. Travelers Companies had a return on equity of 9.87% and a net margin of 8.56%. Travelers Companies’s revenue was up 4.2% compared to the same quarter last year. During the same quarter last year, the company earned $2.40 EPS. equities analysts anticipate that Travelers Companies Inc will post 6.76 EPS for the current year.
Travelers Companies announced that its Board of Directors has approved a stock repurchase plan on Monday, September 11th that permits the company to repurchase outstanding shares. This repurchase authorization permits the insurance provider to reacquire shares of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s management believes its shares are undervalued.
The company also recently declared a quarterly dividend, which will be paid on Friday, December 29th. Shareholders of record on Monday, December 11th will be paid a $0.72 dividend. The ex-dividend date of this dividend is Friday, December 8th. This represents a $2.88 annualized dividend and a dividend yield of 2.14%. Travelers Companies’s payout ratio is currently 33.29%.
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About Travelers Companies
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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