Blue Chip Partners Inc. reduced its stake in The Travelers Companies, Inc. (NYSE:TRV) by 46.8% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 9,715 shares of the insurance provider’s stock after selling 8,547 shares during the period. Blue Chip Partners Inc.’s holdings in The Travelers Companies were worth $1,229,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. grew its stake in shares of The Travelers Companies by 3.0% in the 1st quarter. Vanguard Group Inc. now owns 21,551,932 shares of the insurance provider’s stock worth $2,597,871,000 after buying an additional 633,510 shares in the last quarter. BlackRock Inc. grew its stake in shares of The Travelers Companies by 2,395.6% in the 1st quarter. BlackRock Inc. now owns 20,403,051 shares of the insurance provider’s stock worth $2,459,383,000 after buying an additional 19,585,476 shares in the last quarter. State Street Corp grew its stake in shares of The Travelers Companies by 1.6% in the 1st quarter. State Street Corp now owns 18,949,803 shares of the insurance provider’s stock worth $2,284,205,000 after buying an additional 304,049 shares in the last quarter. FMR LLC grew its stake in shares of The Travelers Companies by 42.1% in the 1st quarter. FMR LLC now owns 6,596,545 shares of the insurance provider’s stock worth $795,148,000 after buying an additional 1,954,573 shares in the last quarter. Finally, AQR Capital Management LLC grew its stake in shares of The Travelers Companies by 9.4% in the 1st quarter. AQR Capital Management LLC now owns 3,026,207 shares of the insurance provider’s stock worth $364,779,000 after buying an additional 260,838 shares in the last quarter. 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 stock has a 50 day moving average of $125.15 and a 200 day moving average of $123.83. The Travelers Companies, Inc. has a 12-month low of $103.45 and a 12-month high of $130.37. The company has a market cap of $33.31 billion, a price-to-earnings ratio of 12.02 and a beta of 1.21.
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 the Thomson Reuters’ consensus estimate 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 analyst estimates of $6.31 billion. During the same period in the prior year, the business earned $2.20 earnings per share. The Travelers Companies’s quarterly revenue was up 4.7% on a year-over-year basis. Analysts forecast that The Travelers Companies, Inc. will post $7.64 earnings per share for the current year.
The Travelers Companies declared that its Board of Directors has authorized a stock buyback plan on Monday, September 11th that permits the company to buyback shares. This buyback authorization permits the insurance provider to reacquire shares of its stock through open market purchases. Shares buyback plans are typically a sign that the company’s leadership believes its stock is 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 $0.72 dividend. This represents a $2.88 annualized dividend and a yield of 2.39%. The ex-dividend date is Thursday, September 7th. The Travelers Companies’s dividend payout ratio is presently 28.77%.
A number of equities analysts have commented on the stock. Zacks Investment Research raised shares of The Travelers Companies from a “sell” rating to a “hold” rating in a research note on Thursday. Citigroup Inc. lifted their price objective on shares of The Travelers Companies from $140.00 to $150.00 and gave the stock a “buy” rating in a research note on Thursday, July 13th. BidaskClub cut shares of The Travelers Companies from a “hold” rating to a “sell” rating in a research note on Monday, July 24th. Buckingham Research started coverage on shares of The Travelers Companies in a research note on Monday, September 11th. They set a “buy” rating and a $136.00 price target for the company. Finally, Royal Bank Of Canada reaffirmed a “buy” rating and set a $135.00 price target on shares of The Travelers Companies in a research note 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 stock. The company presently has an average rating of “Hold” and an average price target of $126.26.
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In other news, EVP Michael Frederick Klein sold 10,051 shares of the firm’s stock in a transaction on Tuesday, July 25th. The stock was sold at an average price of $127.47, for a total transaction of $1,281,200.97. Following the transaction, the executive vice president now directly owns 1,542 shares of the company’s stock, valued at $196,558.74. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Vice Chairman Jay S. Benet sold 5,518 shares of the firm’s stock in a transaction on Monday, June 19th. The shares were sold at an average price of $128.72, for a total value of $710,276.96. Following the transaction, the insider now directly owns 82,824 shares in the company, valued at $10,661,105.28. The disclosure for this sale can be found here. Insiders sold 150,395 shares of company stock worth $19,249,559 over the last ninety days. 0.82% of the stock is owned by corporate 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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