Bank of The Ozarks lowered its position in The Travelers Companies, Inc. (NYSE:TRV) by 5.8% in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 3,675 shares of the insurance provider’s stock after selling 228 shares during the quarter. Bank of The Ozarks’ holdings in The Travelers Companies were worth $465,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also recently made changes to their positions in TRV. BlackRock Inc. increased its holdings in The Travelers Companies by 2,395.6% in the 1st quarter. BlackRock Inc. now owns 20,403,051 shares of the insurance provider’s stock worth $2,459,383,000 after acquiring an additional 19,585,476 shares during the last quarter. FMR LLC increased its holdings in The Travelers Companies by 42.1% in the 1st quarter. FMR LLC now owns 6,596,545 shares of the insurance provider’s stock worth $795,148,000 after acquiring an additional 1,954,573 shares during the last quarter. Vanguard Group Inc. increased its holdings in The Travelers Companies by 3.0% in the 1st quarter. Vanguard Group Inc. now owns 21,551,932 shares of the insurance provider’s stock worth $2,597,871,000 after acquiring an additional 633,510 shares during the last quarter. Hermes Investment Management Ltd. purchased a new position in The Travelers Companies during the 2nd quarter valued at about $58,950,000. Finally, WINTON GROUP Ltd grew its holdings in The Travelers Companies by 191.6% during the 1st quarter. WINTON GROUP Ltd now owns 695,246 shares of the insurance provider’s stock valued at $79,640,000 after buying an additional 456,814 shares in the last quarter. 77.55% of the stock is owned by institutional investors.
In related news, EVP Andy F. Bessette sold 3,300 shares of the firm’s stock in a transaction that occurred 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 directly owns 10,000 shares of the company’s stock, valued at approximately $1,285,000. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, 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 sale, the insider now directly owns 253,744 shares of the company’s stock, valued at $32,134,140.16. The disclosure for this sale can be found here. Insiders have sold a total of 150,395 shares of company stock valued at $19,249,559 over the last three months. 0.82% of the stock is owned by corporate insiders.
The Travelers Companies, Inc. (NYSE TRV) opened at 119.97 on Friday. The Travelers Companies, Inc. has a 1-year low of $103.45 and a 1-year high of $130.37. The stock has a market capitalization of $33.11 billion, a PE ratio of 11.95 and a beta of 1.21. The stock’s 50 day moving average price is $125.29 and its 200 day moving average price is $123.83.
The Travelers Companies (NYSE:TRV) last issued its quarterly earnings results on Thursday, July 20th. The insurance provider reported $1.92 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $2.07 by ($0.15). The Travelers Companies had a return on equity of 11.68% and a net margin of 10.15%. The business had revenue of $6.35 billion for the quarter, compared to the consensus estimate of $6.31 billion. During the same period in the prior year, the business posted $2.20 earnings per share. The Travelers Companies’s revenue was up 4.7% on a year-over-year basis. On average, equities research analysts predict that The Travelers Companies, Inc. will post $7.64 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Friday, September 8th will be paid a dividend of $0.72 per share. This represents a $2.88 dividend on an annualized basis and a dividend yield of 2.40%. The ex-dividend date of this dividend is Thursday, September 7th. The Travelers Companies’s dividend payout ratio is currently 28.77%.
The Travelers Companies announced that its Board of Directors has authorized a share buyback plan on Monday, September 11th that permits the company to buyback shares. This buyback authorization permits the insurance provider to purchase shares of its stock through open market purchases. Shares buyback plans are often an indication that the company’s leadership believes its stock is undervalued.
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A number of research firms have weighed in on TRV. Zacks Investment Research raised The Travelers Companies from a “sell” rating to a “hold” rating in a report on Thursday. Wells Fargo & Company reaffirmed a “hold” rating and set a $125.00 target price on shares of The Travelers Companies in a report on Tuesday. 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. Buckingham Research initiated coverage on The Travelers Companies in a research report on Monday. They set a “buy” rating and a $136.00 price target for the company. Finally, ValuEngine upgraded The Travelers Companies from a “hold” rating to a “buy” rating in a research report on Friday, September 1st. Five equities research analysts have rated the stock with a sell rating, eight have given a hold rating and eight have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $126.26.
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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