Carroll Financial Associates Inc. Lowers Position in The Travelers Companies, Inc. (NYSE:TRV)
Carroll Financial Associates Inc. decreased its stake in shares of The Travelers Companies, Inc. (NYSE:TRV) by 1.8% during the second quarter, Holdings Channel reports. The fund owned 891 shares of the insurance provider’s stock after selling 16 shares during the period. Carroll Financial Associates Inc.’s holdings in The Travelers Companies were worth $112,000 as of its most recent SEC filing.
Other large investors have also added to or reduced their stakes in the company. First Manhattan Co. raised its stake in The Travelers Companies by 3.9% in the first quarter. First Manhattan Co. now owns 190,036 shares of the insurance provider’s stock valued at $21,768,000 after buying an additional 7,216 shares in the last quarter. Teza Capital Management LLC purchased a new stake in The Travelers Companies during the first quarter valued at about $1,637,000. Lincoln National Corp purchased a new stake in The Travelers Companies during the first quarter valued at about $275,000. Janney Montgomery Scott LLC raised its stake in The Travelers Companies by 5.4% in the first quarter. Janney Montgomery Scott LLC now owns 174,890 shares of the insurance provider’s stock valued at $21,081,000 after buying an additional 8,909 shares in the last quarter. Finally, Great Lakes Advisors LLC raised its stake in The Travelers Companies by 50.7% in the first quarter. Great Lakes Advisors LLC now owns 109,810 shares of the insurance provider’s stock valued at $13,236,000 after buying an additional 36,923 shares in the last quarter. 78.95% of the stock is owned by hedge funds and other institutional investors.
Shares of The Travelers Companies, Inc. (TRV) traded down 0.85% during midday trading on Friday, reaching $128.59. 838,485 shares of the company’s stock were exchanged. The company’s 50-day moving average is $127.13 and its 200-day moving average is $123.06. The stock has a market cap of $35.48 billion, a P/E ratio of 12.81 and a beta of 1.20. The Travelers Companies, Inc. has a one year low of $103.45 and a one year high of $130.36.
The Travelers Companies (NYSE:TRV) last issued its quarterly earnings results on Thursday, July 20th. The insurance provider reported $1.92 EPS 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 firm had revenue of $6.35 billion for the quarter, compared to analysts’ expectations of $6.31 billion. During the same quarter in the previous year, the firm posted $2.20 earnings per share. The firm’s revenue for the quarter was up 4.7% compared to the same quarter last year. Equities analysts expect that The Travelers Companies, Inc. will post $8.92 earnings per share for the current fiscal year.
The company also recently declared 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. This represents a $2.88 annualized dividend and a dividend yield of 2.22%. The ex-dividend date of this dividend is Thursday, September 7th. The Travelers Companies’s payout ratio is 28.77%.
The Travelers Companies announced that its Board of Directors has initiated a stock buyback plan on Thursday, April 20th that authorizes the company to repurchase $5.00 billion in shares. This repurchase authorization authorizes the insurance provider to repurchase shares of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s leadership believes its shares are undervalued.
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Several research firms recently issued reports on TRV. Barclays PLC increased their target price on shares of The Travelers Companies from $119.00 to $122.00 and gave the stock an “equal weight” rating in a report on Friday. Bank of America Corporation lowered shares of The Travelers Companies from a “buy” rating to a “neutral” rating and increased their target price for the stock from $120.62 to $129.44 in a report on Monday, June 19th. BidaskClub raised shares of The Travelers Companies from a “hold” rating to a “buy” rating in a report on Saturday, June 17th. Keefe, Bruyette & Woods reissued a “hold” rating on shares of The Travelers Companies in a report on Tuesday, June 20th. Finally, MKM Partners reissued a “neutral” rating and issued a $130.00 target price (up from $115.00) on shares of The Travelers Companies in a report on Wednesday, July 26th. Five investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and six have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $124.01.
In related news, Vice Chairman William H. Heyman sold 7,000 shares of the business’s stock in a transaction that occurred on Thursday, May 25th. The stock was sold at an average price of $123.48, for a total transaction of $864,360.00. Following the completion of the sale, the insider now directly owns 246,744 shares in the company, valued at $30,467,949.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Andy F. Bessette sold 3,300 shares of the business’s stock in a transaction that occurred on Tuesday, August 1st. The stock was sold at an average price of $128.50, for a total value of $424,050.00. Following the sale, the executive vice president now owns 10,000 shares of the company’s stock, valued at $1,285,000. The disclosure for this sale can be found here. Insiders have sold 189,503 shares of company stock valued at $24,085,032 over the last quarter. 0.82% of the stock is owned by company 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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