The Travelers Companies, Inc. (TRV) Shares Sold by McKinley Carter Wealth Services Inc.
McKinley Carter Wealth Services Inc. trimmed its holdings in The Travelers Companies, Inc. (NYSE:TRV) by 2.9% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 7,402 shares of the insurance provider’s stock after selling 223 shares during the period. McKinley Carter Wealth Services Inc.’s holdings in The Travelers Companies were worth $937,000 at the end of the most recent reporting period.
A number of other large investors have also modified their holdings of TRV. ING Groep NV boosted its stake in The Travelers Companies by 106.4% in the 1st quarter. ING Groep NV now owns 198,381 shares of the insurance provider’s stock worth $23,913,000 after buying an additional 102,253 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. boosted its stake in The Travelers Companies by 2.4% in the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 978,995 shares of the insurance provider’s stock worth $118,008,000 after buying an additional 22,853 shares during the last quarter. Trillium Asset Management LLC boosted its stake in The Travelers Companies by 70.4% in the 1st quarter. Trillium Asset Management LLC now owns 60,177 shares of the insurance provider’s stock worth $7,254,000 after buying an additional 24,872 shares during the last quarter. State Board of Administration of Florida Retirement System boosted its stake in The Travelers Companies by 1.0% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 424,412 shares of the insurance provider’s stock worth $51,159,000 after buying an additional 4,108 shares during the last quarter. Finally, Eagle Ridge Investment Management boosted its stake in The Travelers Companies by 5.2% in the 1st quarter. Eagle Ridge Investment Management now owns 3,536 shares of the insurance provider’s stock worth $426,000 after buying an additional 175 shares during the last quarter. 77.55% of the stock is currently owned by hedge funds and other institutional investors.
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The Travelers Companies, Inc. (NYSE TRV) opened at 119.97 on Friday. The company’s 50-day moving average price is $125.29 and its 200 day moving average price is $123.83. The firm has a market capitalization of $33.11 billion, a price-to-earnings ratio of 11.95 and a beta of 1.21. The Travelers Companies, Inc. has a 52-week low of $103.45 and a 52-week high of $130.37.
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 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 during the quarter, compared to analyst estimates of $6.31 billion. During the same period in the previous year, the company earned $2.20 earnings per share. The business’s revenue for the quarter was up 4.7% on a year-over-year basis. Equities research analysts predict that The Travelers Companies, Inc. will post $7.64 earnings per share for the current year.
The company 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 2.40%. The ex-dividend date of this dividend is Thursday, September 7th. The Travelers Companies’s payout ratio is currently 28.77%.
The Travelers Companies announced that its board has initiated a stock repurchase program on Monday, September 11th that authorizes the company to buyback shares. This buyback authorization authorizes the insurance provider to buy shares of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board believes its stock is undervalued.
A number of brokerages have issued reports on TRV. BidaskClub lowered The Travelers Companies from a “buy” rating to a “hold” rating in a research note on Wednesday, July 12th. Vetr raised The Travelers Companies from a “hold” rating to a “buy” rating and set a $132.68 price target on the stock in a research note on Tuesday, June 27th. Keefe, Bruyette & Woods reissued a “hold” rating and issued a $115.00 price target on shares of The Travelers Companies in a research note on Thursday, May 25th. Barclays PLC raised their price target on The Travelers Companies from $119.00 to $122.00 and gave the stock an “equal weight” rating in a research note on Friday, August 11th. Finally, Zacks Investment Research lowered The Travelers Companies from a “hold” rating to a “sell” rating in a research note on Tuesday, September 5th. Five equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $126.26.
In other news, Vice Chairman Jay S. Benet sold 5,518 shares of the company’s stock in a transaction dated Monday, July 17th. The stock was sold at an average price of $125.66, for a total transaction of $693,391.88. Following the completion of the sale, the insider now owns 82,824 shares in the company, valued at approximately $10,407,663.84. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Michael Frederick Klein sold 10,051 shares of the company’s stock in a transaction dated Tuesday, July 25th. The stock was sold at an average price of $127.47, for a total value of $1,281,200.97. Following the sale, the executive vice president now owns 1,542 shares of the company’s stock, valued at approximately $196,558.74. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 150,395 shares of company stock worth $19,249,559. Insiders own 0.82% of the company’s stock.
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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