First Republic Investment Management Inc. decreased its position in shares of Travelers Companies Inc (NYSE:TRV) by 12.1% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 464,432 shares of the insurance provider’s stock after selling 64,195 shares during the quarter. First Republic Investment Management Inc. owned approximately 0.17% of Travelers Companies worth $56,903,000 as of its most recent filing with the SEC.
Other hedge funds have also recently modified their holdings of the company. Carnick & Kubik Group LLC purchased a new position in shares of Travelers Companies during the third quarter worth about $758,000. Robeco Institutional Asset Management B.V. purchased a new position in shares of Travelers Companies during the third quarter worth about $78,058,000. DekaBank Deutsche Girozentrale grew its holdings in shares of Travelers Companies by 5.4% during the second quarter. DekaBank Deutsche Girozentrale now owns 137,846 shares of the insurance provider’s stock worth $17,537,000 after buying an additional 7,042 shares during the last quarter. Palisade Asset Management LLC grew its holdings in shares of Travelers Companies by 2.2% during the second quarter. Palisade Asset Management LLC now owns 18,569 shares of the insurance provider’s stock worth $2,350,000 after buying an additional 400 shares during the last quarter. Finally, IBM Retirement Fund grew its holdings in shares of Travelers Companies by 109.5% during the second quarter. IBM Retirement Fund now owns 6,812 shares of the insurance provider’s stock worth $963,000 after buying an additional 3,561 shares during the last quarter. 78.67% of the stock is currently owned by institutional investors.
Shares of Travelers Companies Inc (TRV) traded up $2.31 during trading on Friday, hitting $134.89. The company had a trading volume of 3,170,654 shares, compared to its average volume of 1,389,142. The firm has a market cap of $36,286.60, a P/E ratio of 16.19, a P/E/G ratio of 2.61 and a beta of 1.25. The company has a debt-to-equity ratio of 0.29, a current ratio of 0.41 and a quick ratio of 0.41. Travelers Companies Inc has a 1 year low of $113.76 and a 1 year high of $137.95.
Travelers Companies (NYSE:TRV) last released its earnings results on Thursday, October 19th. The insurance provider reported $0.91 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $2.10 by ($1.19). The firm had revenue of $6.66 billion during the quarter, compared to analysts’ expectations of $6.46 billion. Travelers Companies had a return on equity of 9.87% and a net margin of 8.56%. The firm’s revenue was up 4.2% on a year-over-year basis. During the same period in the previous year, the firm posted $2.40 earnings per share. equities research analysts expect that Travelers Companies Inc will post 6.76 earnings per share for the current fiscal year.
The company also recently announced 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 yield of 2.14%. Travelers Companies’s payout ratio is currently 33.45%.
Travelers Companies declared that its board has authorized a stock buyback plan on Monday, September 11th that allows the company to buyback outstanding shares. This buyback authorization allows the insurance provider to reacquire shares of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s management believes its stock is undervalued.
TRV has been the topic of a number of research reports. ValuEngine raised Travelers Companies from a “hold” rating to a “buy” rating in a report on Friday, September 1st. Royal Bank of Canada restated a “buy” rating and issued a $135.00 price objective on shares of Travelers Companies in a research report on Monday, August 21st. Buckingham Research started coverage on shares of Travelers Companies in a research report on Monday, September 11th. They issued a “buy” rating and a $136.00 price objective for the company. Citigroup reduced their price objective on shares of Travelers Companies from $142.00 to $140.00 and set a “buy” rating for the company in a research report on Monday, October 2nd. Finally, Keefe, Bruyette & Woods reiterated a “buy” rating and set a $152.00 price target on shares of Travelers Companies in a research report on Wednesday, December 6th. Four investment analysts have rated the stock with a sell rating, nine have issued a hold rating and eight have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $132.01.
In other news, EVP Michael Frederick Klein sold 20,077 shares of the business’s stock in a transaction on Tuesday, November 21st. The shares were sold at an average price of $130.68, for a total transaction of $2,623,662.36. Following the completion of the sale, the executive vice president now directly owns 21,619 shares of the company’s stock, valued at approximately $2,825,170.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Maria Olivo sold 33,225 shares of the business’s stock in a transaction on Wednesday, November 29th. The shares were sold at an average price of $134.18, for a total transaction of $4,458,130.50. The disclosure for this sale can be found here. Insiders sold a total of 55,302 shares of company stock valued at $7,347,753 over the last ninety days. 0.82% of the stock is owned by corporate insiders.
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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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