Evermay Wealth Management LLC bought a new position in The Travelers Companies, Inc. (NYSE:TRV) during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 1,952 shares of the insurance provider’s stock, valued at approximately $235,000.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. First Personal Financial Services raised its stake in The Travelers Companies by 133.3% in the first quarter. First Personal Financial Services now owns 889 shares of the insurance provider’s stock valued at $107,000 after buying an additional 508 shares during the last quarter. Intellectus Partners LLC bought a new stake in The Travelers Companies during the fourth quarter valued at $109,000. Bartlett & Co. LLC increased its stake in The Travelers Companies by 30.0% in the first quarter. Bartlett & Co. LLC now owns 1,399 shares of the insurance provider’s stock valued at $169,000 after buying an additional 323 shares during the period. Community Bank N.A. increased its stake in The Travelers Companies by 39.0% in the first quarter. Community Bank N.A. now owns 1,425 shares of the insurance provider’s stock valued at $172,000 after buying an additional 400 shares during the period. Finally, Clean Yield Group acquired a new position in The Travelers Companies during the first quarter valued at approximately $176,000. 77.92% of the stock is currently owned by institutional investors and hedge funds.
Shares of The Travelers Companies, Inc. (TRV) traded up 0.47% during trading on Friday, hitting $125.15. 1,373,057 shares of the company traded hands. The Travelers Companies, Inc. has a one year low of $103.45 and a one year high of $129.60. The firm has a 50 day moving average price of $126.44 and a 200-day moving average price of $122.05. The stock has a market cap of $34.97 billion, a price-to-earnings ratio of 12.31 and a beta of 1.21.
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 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 firm’s quarterly revenue was up 4.7% on a year-over-year basis. During the same quarter last year, the company earned $2.20 EPS. Analysts predict that The Travelers Companies, Inc. will post $9.09 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Investors 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 yield of 2.30%. The Travelers Companies’s dividend payout ratio (DPR) is 28.77%.
The Travelers Companies announced that its board has approved a stock repurchase plan on Thursday, April 20th that authorizes the company to repurchase $5.00 billion in shares. This repurchase authorization authorizes the insurance provider to reacquire shares of its stock through open market purchases. Shares repurchase plans are generally an indication that the company’s management believes its stock is undervalued.
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Several equities analysts have commented on the stock. Bank of America Corporation downgraded shares of The Travelers Companies from a “buy” rating to a “neutral” rating and boosted their price target for the stock from $120.62 to $129.44 in a research note on Monday, June 19th. BidaskClub upgraded shares of The Travelers Companies from a “hold” rating to a “buy” rating in a research note on Saturday, June 17th. Keefe, Bruyette & Woods restated a “hold” rating on shares of The Travelers Companies in a research note on Tuesday, June 20th. Vetr upgraded shares of The Travelers Companies from a “hold” rating to a “buy” rating and set a $132.68 price target for the company in a research note on Tuesday, June 27th. Finally, Morgan Stanley reaffirmed an “underweight” rating and set a $119.00 price objective (up from $112.00) on shares of The Travelers Companies in a research report on Friday, July 7th. Four analysts have rated the stock with a sell rating, seven have issued a hold rating and six have given a buy rating to the stock. The Travelers Companies has an average rating of “Hold” and an average price target of $123.47.
In related news, Vice Chairman William H. Heyman sold 8,000 shares of the stock in a transaction that occurred on Wednesday, May 31st. The stock was sold at an average price of $124.38, for a total transaction of $995,040.00. Following the completion of the sale, the insider now directly owns 241,744 shares of the company’s stock, valued at approximately $30,068,118.72. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Vice Chairman Jay S. Benet sold 5,518 shares of the stock in a transaction that occurred on Monday, June 19th. The stock was sold at an average price of $128.72, for a total value of $710,276.96. Following the sale, the insider now directly owns 82,824 shares of the company’s stock, valued at $10,661,105.28. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 190,264 shares of company stock worth $23,233,448. 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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