Wellington Shields Capital Management LLC Has $3,259,000 Stake in The Travelers Companies, Inc. (TRV)
Wellington Shields Capital Management LLC held its position in The Travelers Companies, Inc. (NYSE:TRV) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 25,757 shares of the insurance provider’s stock at the end of the second quarter. Wellington Shields Capital Management LLC’s holdings in The Travelers Companies were worth $3,259,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. First National Bank of Omaha boosted its position in The Travelers Companies by 4.9% in the first quarter. First National Bank of Omaha now owns 75,332 shares of the insurance provider’s stock worth $9,080,000 after buying an additional 3,518 shares during the period. Capstone Asset Management Co. boosted its position in The Travelers Companies by 1.9% in the first quarter. Capstone Asset Management Co. now owns 38,294 shares of the insurance provider’s stock worth $4,616,000 after buying an additional 708 shares during the period. Marathon Asset Management LLP boosted its position in The Travelers Companies by 14.6% in the first quarter. Marathon Asset Management LLP now owns 958,111 shares of the insurance provider’s stock worth $115,489,000 after buying an additional 122,280 shares during the period. TNB Financial purchased a new position in The Travelers Companies during the first quarter worth $358,000. Finally, Atria Investments LLC boosted its position in The Travelers Companies by 8.9% in the first quarter. Atria Investments LLC now owns 22,060 shares of the insurance provider’s stock worth $2,659,000 after buying an additional 1,812 shares during the period. Institutional investors and hedge funds own 78.95% of the company’s stock.
Shares of The Travelers Companies, Inc. (NYSE:TRV) traded down 1.16% during trading on Friday, hitting $128.18. 1,535,138 shares of the company traded hands. The Travelers Companies, Inc. has a 52-week low of $103.45 and a 52-week high of $130.36. The stock has a market capitalization of $35.37 billion, a PE ratio of 12.76 and a beta of 1.20. The company has a 50-day moving average of $127.13 and a 200-day moving average of $123.13.
The Travelers Companies (NYSE:TRV) last announced its quarterly earnings results on Thursday, July 20th. The insurance provider reported $1.92 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate 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 business’s revenue for the quarter was up 4.7% compared to the same quarter last year. During the same period last year, the company earned $2.20 earnings per share. Equities analysts expect that The Travelers Companies, Inc. will post $8.92 EPS for the current year.
The Travelers Companies announced that its Board of Directors has authorized a share buyback plan on Thursday, April 20th that permits the company to repurchase $5.00 billion in shares. This repurchase authorization permits the insurance provider to buy shares of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s management believes its shares are undervalued.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Friday, September 8th will be issued a $0.72 dividend. This represents a $2.88 dividend on an annualized basis and a yield of 2.25%. The ex-dividend date of this dividend is Thursday, September 7th. The Travelers Companies’s dividend payout ratio (DPR) is 28.77%.
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TRV has been the topic of a number of research analyst reports. Argus upgraded shares of The Travelers Companies from a “hold” rating to a “buy” rating and set a $132.00 price target on the stock in a report on Monday, April 24th. Royal Bank Of Canada restated a “buy” rating and issued a $126.00 price target on shares of The Travelers Companies in a report on Monday, May 22nd. Keefe, Bruyette & Woods restated a “hold” rating and issued a $115.00 price target on shares of The Travelers Companies in a report on Thursday, May 25th. BidaskClub upgraded shares of The Travelers Companies from a “hold” rating to a “buy” rating in a report on Saturday, June 17th. Finally, Bank of America Corporation cut shares of The Travelers Companies from a “buy” rating to a “neutral” rating and upped their price target for the stock from $120.62 to $129.44 in a report on Monday, June 19th. Five research analysts have rated the stock with a sell rating, seven have given a hold rating and six have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $124.01.
In other The Travelers Companies news, EVP John P. Clifford, Jr. sold 3,525 shares of the business’s stock in a transaction that occurred on Thursday, August 10th. The stock was sold at an average price of $129.85, for a total value of $457,721.25. Following the completion of the sale, the executive vice president now owns 9,658 shares in the company, valued at $1,254,091.30. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, SVP Douglas K. Russell sold 9,686 shares of the business’s stock in a transaction that occurred on Thursday, May 25th. The shares were sold at an average price of $123.00, for a total value of $1,191,378.00. Following the completion of the sale, the senior vice president now owns 29,267 shares of the company’s stock, valued at approximately $3,599,841. The disclosure for this sale can be found here. Insiders sold 189,503 shares of company stock valued at $24,085,032 over the last ninety days. 0.82% of the stock is currently 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.
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