Rhumbline Advisers Trims Stake in The Travelers Companies, Inc. (NYSE:TRV)

Rhumbline Advisers reduced its holdings in shares of The Travelers Companies, Inc. (NYSE:TRV) by 2.2% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 552,532 shares of the insurance provider’s stock after selling 12,481 shares during the quarter. Rhumbline Advisers owned approximately 0.20% of The Travelers Companies worth $69,912,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also bought and sold shares of TRV. State of Alaska Department of Revenue purchased a new position in The Travelers Companies during the 1st quarter valued at about $314,000. Nationwide Fund Advisors increased its holdings in The Travelers Companies by 15.0% during the 1st quarter. Nationwide Fund Advisors now owns 91,597 shares of the insurance provider’s stock valued at $11,041,000 after acquiring an additional 11,921 shares in the last quarter. Russell Investments Group Ltd. increased its holdings in The Travelers Companies by 17.9% during the 1st quarter. Russell Investments Group Ltd. now owns 523,045 shares of the insurance provider’s stock valued at $63,060,000 after acquiring an additional 79,232 shares in the last quarter. IFP Advisors Inc increased its holdings in The Travelers Companies by 5.2% during the 1st quarter. IFP Advisors Inc now owns 10,169 shares of the insurance provider’s stock valued at $1,226,000 after acquiring an additional 501 shares in the last quarter. Finally, Breton Hill Capital Ltd. purchased a new position in The Travelers Companies during the 1st quarter valued at about $277,000. Hedge funds and other institutional investors own 77.55% of the company’s stock.

Shares of The Travelers Companies, Inc. (NYSE TRV) opened at 120.70 on Friday. The company has a 50-day moving average of $125.15 and a 200-day moving average of $123.83. The stock has a market capitalization of $33.31 billion, a P/E ratio of 12.02 and a beta of 1.21. The Travelers Companies, Inc. has a 12-month low of $103.45 and a 12-month high of $130.37.

The Travelers Companies (NYSE:TRV) last issued its earnings results on Thursday, July 20th. The insurance provider reported $1.92 earnings per share for the quarter, missing analysts’ consensus estimates of $2.07 by ($0.15). The business had revenue of $6.35 billion during the quarter, compared to analyst estimates of $6.31 billion. The Travelers Companies had a net margin of 10.15% and a return on equity of 11.68%. The Travelers Companies’s revenue for the quarter was up 4.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.20 EPS. Equities analysts expect that The Travelers Companies, Inc. will post $7.64 earnings per share for the current fiscal year.

The Travelers Companies declared that its board has approved a share repurchase program on Monday, September 11th that permits the company to repurchase outstanding shares. This repurchase authorization permits the insurance provider to buy shares of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s board believes its stock is undervalued.

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Stockholders of record on Friday, September 8th will be issued a $0.72 dividend. The ex-dividend date of this dividend is Thursday, September 7th. This represents a $2.88 dividend on an annualized basis and a dividend yield of 2.39%. The Travelers Companies’s dividend payout ratio is 28.77%.

Several research firms have weighed in on TRV. Zacks Investment Research upgraded shares of The Travelers Companies from a “sell” rating to a “hold” rating in a report on Thursday. Citigroup Inc. raised their target price on shares of The Travelers Companies from $140.00 to $150.00 and gave the company a “buy” rating in a report on Thursday, July 13th. BidaskClub downgraded shares of The Travelers Companies from a “hold” rating to a “sell” rating in a report on Monday, July 24th. Buckingham Research initiated coverage on shares of The Travelers Companies in a report on Monday, September 11th. They set a “buy” rating and a $136.00 target price for the company. Finally, Royal Bank Of Canada reiterated a “buy” rating and set a $135.00 price target on shares of The Travelers Companies in a report on Monday, August 21st. Five equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $126.26.

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In related news, Vice Chairman William H. Heyman sold 24,000 shares of the stock in a transaction that occurred on Tuesday, July 25th. The stock was sold at an average price of $126.64, for a total value of $3,039,360.00. Following the transaction, the insider now owns 253,744 shares in the company, valued at $32,134,140.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Vice Chairman Jay S. Benet sold 5,518 shares of the stock in a transaction that occurred on Monday, July 17th. The stock was sold at an average price of $125.66, for a total value of $693,391.88. Following the completion of the transaction, the insider now owns 82,824 shares in the company, valued at approximately $10,407,663.84. The disclosure for this sale can be found here. Insiders sold a total of 150,395 shares of company stock worth $19,249,559 in the last quarter. 0.82% of the stock is owned by corporate insiders.

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.

Institutional Ownership by Quarter for The Travelers Companies (NYSE:TRV)




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