Investors Buy The Travelers Cos. (TRV) on Weakness
Traders purchased shares of The Travelers Cos. (NYSE:TRV) on weakness during trading hours on Thursday. $52.61 million flowed into the stock on the tick-up and $25.62 million flowed out of the stock on the tick-down, for a money net flow of $26.99 million into the stock. Of all stocks tracked, The Travelers Cos. had the 7th highest net in-flow for the day. The Travelers Cos. traded down ($0.10) for the day and closed at $117.88
Several brokerages have issued reports on TRV. FBR & Co reaffirmed a “buy” rating on shares of The Travelers Cos. in a research note on Saturday, April 23rd. Zacks Investment Research upgraded The Travelers Cos. from a “hold” rating to a “buy” rating and set a $130.00 price objective on the stock in a report on Thursday, April 7th. RBC Capital Markets reiterated an “outperform” rating and issued a $125.00 price objective (up previously from $120.00) on shares of The Travelers Cos. in a report on Sunday, July 24th. BMO Capital Markets lifted their price objective on The Travelers Cos. from $115.00 to $117.00 in a report on Tuesday, April 12th. Finally, Goldman Sachs Group Inc. lifted their price objective on The Travelers Cos. from $114.00 to $117.00 and gave the stock a “neutral” rating in a report on Tuesday, April 26th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and five have given a buy rating to the company. The Travelers Cos. presently has a consensus rating of “Hold” and a consensus price target of $117.73.
The stock has a market cap of $33.98 billion and a price-to-earnings ratio of 11.35. The firm’s 50 day moving average is $116.31 and its 200-day moving average is $112.57.
The Travelers Cos. (NYSE:TRV) last released its quarterly earnings data on Thursday, July 21st. The company reported $2.24 EPS for the quarter, beating the consensus estimate of $2.19 by $0.05. The company had revenue of $6.79 billion for the quarter, compared to the consensus estimate of $6.37 billion. During the same period last year, the company earned $2.52 EPS. The firm’s revenue for the quarter was up 2.3% on a year-over-year basis. Equities analysts anticipate that The Travelers Cos. will post $9.51 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 30th. Shareholders of record on Friday, September 9th will be issued a dividend of $0.67 per share. This represents a $2.68 annualized dividend and a dividend yield of 2.27%. The ex-dividend date of this dividend is Wednesday, September 7th.
In related news, Vice Chairman Jay S. Benet sold 5,797 shares of the stock in a transaction dated Monday, August 1st. The shares were sold at an average price of $116.21, for a total value of $673,669.37. Following the completion of the transaction, the insider now owns 71,352 shares of the company’s stock, valued at approximately $8,291,815.92. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Vice Chairman William H. Heyman sold 2,728 shares of the stock in a transaction dated Wednesday, May 11th. The shares were sold at an average price of $112.55, for a total transaction of $307,036.40. Following the completion of the transaction, the insider now directly owns 228,982 shares of the company’s stock, valued at approximately $25,771,924.10. The disclosure for this sale can be found here.
Other hedge funds and institutional investors have made changes to their positions in the company. Atlantic Trust Group LLC acquired a new position in shares of The Travelers Cos. during the fourth quarter worth approximately $1,371,000. Cambridge Investment Research Advisors Inc. acquired a new position in shares of The Travelers Cos. during the fourth quarter worth approximately $2,152,000. Victory Capital Management Inc. increased its position in shares of The Travelers Cos. by 46.5% in the fourth quarter. Victory Capital Management Inc. now owns 13,627 shares of the company’s stock worth $1,538,000 after buying an additional 4,324 shares during the last quarter. Whittier Trust Co. of Nevada Inc. increased its position in shares of The Travelers Cos. by 0.4% in the fourth quarter. Whittier Trust Co. of Nevada Inc. now owns 20,842 shares of the company’s stock worth $2,352,000 after buying an additional 83 shares during the last quarter. Finally, Mitsubishi UFJ Kokusai Asset Management CO. LTD. increased its position in shares of The Travelers Cos. by 370.7% in the fourth quarter. Mitsubishi UFJ Kokusai Asset Management CO. LTD. now owns 242,865 shares of the company’s stock worth $27,410,000 after buying an additional 191,264 shares during the last quarter.
The Travelers Companies, Inc is a holding company. The Company, through its subsidiaries, is engaged in providing a range of commercial and personal property and casualty insurance products and services to businesses, government units, associations and individuals. It operates through three segments: Business and International Insurance; Bond & Specialty Insurance, and Personal Insurance.
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