Mayo Investment Advisers LLC reduced its stake in The Travelers Companies, Inc. (NYSE:TRV) by 30.8% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 9,000 shares of the insurance provider’s stock after selling 4,000 shares during the period. Mayo Investment Advisers LLC’s holdings in The Travelers Companies were worth $1,085,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently bought and sold shares of TRV. First Personal Financial Services raised its position 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 period. Intellectus Partners LLC bought a new position in shares of The Travelers Companies during the fourth quarter worth about $109,000. Bartlett & Co. LLC raised its position in shares of The Travelers Companies by 30.0% in the first quarter. Bartlett & Co. LLC now owns 1,399 shares of the insurance provider’s stock worth $169,000 after buying an additional 323 shares during the last quarter. Community Bank N.A. raised its position in shares of 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 worth $172,000 after buying an additional 400 shares during the last quarter. Finally, Clean Yield Group bought a new position in shares of The Travelers Companies during the first quarter worth about $176,000. Hedge funds and other institutional investors own 77.87% of the company’s stock.
The Travelers Companies, Inc. (NYSE:TRV) traded up 0.67% during trading on Monday, reaching $125.99. 538,124 shares of the company’s stock traded hands. The stock has a market cap of $34.77 billion, a P/E ratio of 12.55 and a beta of 1.20. The firm’s 50 day moving average price is $126.44 and its 200-day moving average price is $122.05. The Travelers Companies, Inc. has a one year low of $103.45 and a one year high of $129.60.
The Travelers Companies (NYSE:TRV) last issued its earnings results on Thursday, July 20th. The insurance provider reported $1.92 EPS for the quarter, missing the consensus estimate of $2.07 by $0.15. The company had revenue of $6.35 billion for the quarter, compared to analysts’ expectations 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 revenue for the quarter was up 4.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.20 earnings per share. On average, equities analysts anticipate that The Travelers Companies, Inc. will post $9.02 earnings per share for the current fiscal year.
The Travelers Companies announced that its board has approved a stock repurchase program on Thursday, April 20th that allows the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization allows the insurance provider to repurchase shares of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s leadership believes its shares are undervalued.
The business also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Friday, September 8th will be given a dividend of $0.72 per share. The ex-dividend date of this dividend is Thursday, September 7th. This represents a $2.88 annualized dividend and a dividend yield of 2.30%. The Travelers Companies’s payout ratio is currently 28.77%.
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A number of brokerages have issued reports on TRV. Bank of America Corporation lowered shares of The Travelers Companies from a “buy” rating to a “neutral” rating and upped their price target for the company from $120.62 to $129.44 in a research note on Monday, June 19th. BidaskClub raised shares of The Travelers Companies from a “hold” rating to a “buy” rating in a report on Saturday, June 17th. Keefe, Bruyette & Woods reaffirmed a “hold” rating on shares of The Travelers Companies in a report on Tuesday, June 20th. Vetr raised shares of The Travelers Companies from a “hold” rating to a “buy” rating and set a $132.68 price objective on the stock in a report on Tuesday, June 27th. Finally, Morgan Stanley reaffirmed an “underweight” rating and issued a $119.00 price objective (up from $112.00) on shares of The Travelers Companies in a report on Friday, July 7th. Four equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and six have assigned a buy rating to the company. The Travelers Companies presently has an average rating of “Hold” and an average target price of $123.47.
In related news, EVP John P. Clifford, Jr. sold 5,500 shares of the business’s stock in a transaction dated Friday, May 5th. The shares were sold at an average price of $120.92, for a total value of $665,060.00. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, EVP Andy F. Bessette sold 9,379 shares of the business’s stock in a transaction dated Tuesday, April 25th. The stock was sold at an average price of $121.60, for a total transaction of $1,140,486.40. Following the completion of the sale, the executive vice president now owns 14,420 shares in the company, valued at $1,753,472. The disclosure for this sale can be found here. Insiders have sold a total of 86,377 shares of company stock worth $10,765,171 over the last 90 days. Insiders own 0.82% of the company’s stock.
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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