Prudential Financial Inc. reduced its stake in shares of The Travelers Companies, Inc. (NYSE:TRV) by 8.2% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 607,651 shares of the insurance provider’s stock after selling 54,520 shares during the period. Prudential Financial Inc. owned about 0.22% of The Travelers Companies worth $73,246,000 as of its most recent filing with the SEC.
Several other hedge funds also recently added to or reduced their stakes in the stock. Bank of The Ozarks raised its stake in The Travelers Companies by 2.6% in the first quarter. Bank of The Ozarks now owns 3,903 shares of the insurance provider’s stock valued at $471,000 after buying an additional 100 shares in the last quarter. USS Investment Management Ltd raised its stake in The Travelers Companies by 23.6% in the first quarter. USS Investment Management Ltd now owns 253,400 shares of the insurance provider’s stock valued at $30,544,000 after buying an additional 48,400 shares in the last quarter. Meiji Yasuda Life Insurance Co raised its stake in The Travelers Companies by 147.4% in the first quarter. Meiji Yasuda Life Insurance Co now owns 10,070 shares of the insurance provider’s stock valued at $1,214,000 after buying an additional 6,000 shares in the last quarter. St. James Investment Company LLC bought a new stake in The Travelers Companies during the first quarter valued at $268,000. Finally, Evermay Wealth Management LLC bought a new stake in The Travelers Companies during the first quarter valued at $235,000. Institutional investors own 77.87% of the company’s stock.
The Travelers Companies, Inc. (TRV) traded up 0.85% during trading on Tuesday, reaching $127.46. 1,578,172 shares of the company’s stock were exchanged. The stock has a market cap of $35.17 billion, a PE ratio of 12.69 and a beta of 1.20. The Travelers Companies, Inc. has a 12 month low of $103.45 and a 12 month high of $129.60. The firm has a 50 day moving average of $126.47 and a 200-day moving average of $122.15.
The Travelers Companies (NYSE:TRV) last released its earnings results on Thursday, July 20th. The insurance provider reported $1.92 EPS for the quarter, missing analysts’ consensus estimates 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 company had revenue of $6.35 billion during the quarter, compared to analysts’ expectations of $6.31 billion. During the same period in the prior year, the company posted $2.20 earnings per share. The company’s revenue was up 4.7% on a year-over-year basis. On average, equities research analysts anticipate that The Travelers Companies, Inc. will post $9.00 earnings per share for the current fiscal year.
The Travelers Companies announced that its board has approved a stock repurchase 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 purchase shares of its stock through open market purchases. Shares buyback plans are usually a sign that the company’s board of directors believes its stock is undervalued.
The firm also recently disclosed 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 dividend yield of 2.26%. The Travelers Companies’s dividend payout ratio (DPR) is presently 28.77%.
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TRV has been the subject of several research reports. Argus raised shares of The Travelers Companies from a “hold” rating to a “buy” rating and set a $132.00 price target for the company in a research report on Monday, April 24th. Royal Bank Of Canada reissued a “buy” rating and issued a $126.00 price target on shares of The Travelers Companies in a research report on Monday, May 22nd. Citigroup Inc. lifted their price target on shares of The Travelers Companies from $140.00 to $142.00 and gave the company a “buy” rating in a research report on Friday, April 7th. Keefe, Bruyette & Woods reissued a “hold” rating and issued a $115.00 price target on shares of The Travelers Companies in a research report on Thursday, May 25th. Finally, Morgan Stanley reissued an “underweight” rating and issued a $119.00 price target (up previously from $112.00) on shares of The Travelers Companies in a research report on Friday, July 7th. Five analysts have rated the stock with a sell rating, six have given a hold rating and six have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $123.32.
In related news, SVP Douglas K. Russell sold 9,686 shares of the stock in a transaction on Thursday, May 25th. The stock was sold at an average price of $123.00, for a total transaction of $1,191,378.00. Following the sale, the senior vice president now directly owns 29,267 shares of the company’s stock, valued at $3,599,841. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, EVP John P. Clifford, Jr. sold 5,500 shares of the stock in a transaction on Friday, May 5th. The shares were sold at an average price of $120.92, for a total value of $665,060.00. The disclosure for this sale can be found here. Insiders have sold 76,998 shares of company stock worth $9,624,685 over the last ninety days. 0.82% of the stock is currently owned by insiders.
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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