HL Financial Services LLC Lowers Stake in The Travelers Cos. (TRV)
HL Financial Services LLC lowered its stake in shares of The Travelers Cos. (NYSE:TRV) by 0.8% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 15,752 shares of the company’s stock after selling 132 shares during the period. HL Financial Services LLC’s holdings in The Travelers Cos. were worth $1,875,000 as of its most recent filing with the SEC.
Other hedge funds have also modified their holdings of the company. James Investment Research Inc. boosted its stake in The Travelers Cos. by 2.9% in the second quarter. James Investment Research Inc. now owns 839,004 shares of the company’s stock worth $99,875,000 after buying an additional 23,369 shares in the last quarter. Legacy Private Trust Co. boosted its stake in The Travelers Cos. by 4.6% in the second quarter. Legacy Private Trust Co. now owns 60,095 shares of the company’s stock worth $7,154,000 after buying an additional 2,616 shares in the last quarter. Zurich Insurance Group Ltd FI purchased a new stake in The Travelers Cos. during the first quarter worth approximately $5,690,000. First Republic Investment Management Inc. boosted its stake in The Travelers Cos. by 15.2% in the first quarter. First Republic Investment Management Inc. now owns 512,899 shares of the company’s stock worth $59,860,000 after buying an additional 67,765 shares in the last quarter. Finally, Norges Bank purchased a new stake in The Travelers Cos. during the fourth quarter worth approximately $54,470,000. Institutional investors own 80.12% of the company’s stock.
Shares of The Travelers Cos. (NYSE:TRV) traded up 0.69% during midday trading on Thursday, reaching $116.73. 1,107,009 shares of the company traded hands. The company has a 50-day moving average of $117.13 and a 200 day moving average of $115.04. The Travelers Cos. has a 12-month low of $97.18 and a 12-month high of $119.32. The firm has a market capitalization of $33.65 billion, a PE ratio of 11.23 and a beta of 1.07.
The Travelers Cos. (NYSE:TRV) last announced its earnings results on Thursday, July 21st. The company reported $2.24 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.19 by $0.05. The company earned $6.79 billion during the quarter, compared to the consensus estimate of $6.37 billion. The Travelers Cos. had a net margin of 11.70% and a return on equity of 13.06%. The Travelers Cos.’s revenue was up 2.3% compared to the same quarter last year. During the same period last year, the firm earned $2.52 earnings per share. On average, equities analysts forecast 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. Stockholders of record on Friday, September 9th will be paid a dividend of $0.67 per share. The ex-dividend date is Wednesday, September 7th. This represents a $2.68 annualized dividend and a dividend yield of 2.30%. The Travelers Cos.’s payout ratio is currently 25.92%.
TRV has been the subject of a number of recent analyst reports. Macquarie restated an “underperform” rating and issued a $92.00 price objective on shares of The Travelers Cos. in a research report on Wednesday, June 8th. Citigroup Inc. restated a “neutral” rating on shares of The Travelers Cos. in a research report on Tuesday, June 21st. Bank of America Corp. upgraded shares of The Travelers Cos. from a “neutral” rating to a “buy” rating and set a $127.00 price objective for the company in a research report on Tuesday, June 28th. They noted that the move was a valuation call. Zacks Investment Research cut shares of The Travelers Cos. from a “hold” rating to a “sell” rating in a research report on Wednesday, June 29th. Finally, BMO Capital Markets restated a “market perform” rating and issued a $120.00 price objective (up previously from $117.00) on shares of The Travelers Cos. in a research report on Tuesday, July 12th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and four have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $117.45.
In other news, COO Brian W. Maclean sold 38,507 shares of The Travelers Cos. stock in a transaction on Friday, July 29th. The shares were sold at an average price of $116.85, for a total transaction of $4,499,542.95. Following the completion of the sale, the chief operating officer now directly owns 145,001 shares in the company, valued at $16,943,366.85. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Jay S. Benet sold 5,797 shares of The Travelers Cos. stock in a transaction on Monday, June 27th. The stock was sold at an average price of $109.89, for a total transaction of $637,032.33. Following the sale, the chief financial officer now owns 71,352 shares of the company’s stock, valued at $7,840,871.28. The disclosure for this sale can be found here. Insiders own 1.34% of the company’s stock.
About The Travelers Cos.
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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