AR Asset Management Inc. held its position in shares of The Travelers Companies, Inc. (NYSE:TRV) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 3,311 shares of the insurance provider’s stock at the end of the first quarter. AR Asset Management Inc.’s holdings in The Travelers Companies were worth $399,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also modified their holdings of TRV. Balasa Dinverno & Foltz LLC raised its position in The Travelers Companies by 0.3% in the first quarter. Balasa Dinverno & Foltz LLC now owns 3,448 shares of the insurance provider’s stock valued at $416,000 after buying an additional 9 shares in the last quarter. American Economic Planning Group Inc. ADV raised its position in The Travelers Companies by 0.6% in the first quarter. American Economic Planning Group Inc. ADV now owns 2,529 shares of the insurance provider’s stock valued at $305,000 after buying an additional 15 shares in the last quarter. Dubuque Bank & Trust Co. raised its position in The Travelers Companies by 0.6% in the first quarter. Dubuque Bank & Trust Co. now owns 3,970 shares of the insurance provider’s stock valued at $479,000 after buying an additional 23 shares in the last quarter. HighPoint Advisor Group LLC raised its position in The Travelers Companies by 1.1% in the fourth quarter. HighPoint Advisor Group LLC now owns 2,921 shares of the insurance provider’s stock valued at $365,000 after buying an additional 33 shares in the last quarter. Finally, Howland Capital Management LLC raised its position in The Travelers Companies by 0.3% in the first quarter. Howland Capital Management LLC now owns 9,795 shares of the insurance provider’s stock valued at $1,181,000 after buying an additional 34 shares in the last quarter. Institutional investors own 77.87% of the company’s stock.
The Travelers Companies (NYSE:TRV) last posted its earnings results on Thursday, July 20th. The insurance provider reported $1.92 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $2.07 by $0.15. The company had revenue of $6.35 billion for the quarter, compared to analyst estimates of $6.31 billion. The Travelers Companies had a return on equity of 11.68% and a net margin of 10.15%. The Travelers Companies’s quarterly revenue was up 4.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.20 earnings per share.
The Travelers Companies declared that its board has authorized a stock buyback plan on Thursday, April 20th that allows the company to buyback $5.00 billion in outstanding shares. This buyback authorization allows the insurance provider to reacquire shares of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.
The business also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Stockholders of record on Friday, September 8th will be given a dividend of $0.72 per share. The ex-dividend date is Thursday, September 7th. This represents a $2.88 annualized dividend and a dividend yield of 2.26%. The Travelers Companies’s payout ratio is currently 28.77%.
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Several analysts have recently issued reports on TRV shares. Citigroup Inc. increased their price objective on The Travelers Companies from $140.00 to $142.00 and gave the company a “buy” rating in a research note on Friday, April 7th. Argus upgraded The Travelers Companies from a “hold” rating to a “buy” rating and set a $132.00 price objective on the stock in a research note on Monday, April 24th. Royal Bank Of Canada reiterated a “buy” rating and issued a $126.00 price objective on shares of The Travelers Companies in a research note on Monday, May 22nd. Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $115.00 price objective on shares of The Travelers Companies in a research note on Thursday, May 25th. Finally, BidaskClub upgraded The Travelers Companies from a “hold” rating to a “buy” rating in a research note on Saturday, June 17th. Five equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and six have issued a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $123.79.
In other news, Vice Chairman Jay S. Benet sold 5,518 shares of the business’s stock in a transaction dated Monday, June 19th. The stock was sold at an average price of $128.72, for a total transaction of $710,276.96. Following the completion of the transaction, the insider now directly owns 82,824 shares in the company, valued at approximately $10,661,105.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Douglas K. Russell sold 9,686 shares of the business’s stock in a transaction dated Thursday, May 25th. The stock was sold at an average price of $123.00, for a total value of $1,191,378.00. Following the transaction, the senior vice president now owns 29,267 shares of the company’s stock, valued at $3,599,841. The disclosure for this sale can be found here. Insiders have sold a total of 76,998 shares of company stock valued at $9,624,685 over the last 90 days. Corporate insiders own 0.82% of the company’s stock.
About The 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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