1,637 Shares in The Travelers Companies, Inc. (TRV) Purchased by Tradition Capital Management LLC
Tradition Capital Management LLC bought a new stake in The Travelers Companies, Inc. (NYSE:TRV) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 1,637 shares of the insurance provider’s stock, valued at approximately $207,000.
Several other hedge funds have also bought and sold shares of the stock. Vanguard Group Inc. grew its holdings in shares of The Travelers Companies by 3.0% in the first quarter. Vanguard Group Inc. now owns 21,551,932 shares of the insurance provider’s stock valued at $2,597,871,000 after purchasing an additional 633,510 shares in the last quarter. BlackRock Inc. grew its holdings in shares of The Travelers Companies by 2,395.6% in the first quarter. BlackRock Inc. now owns 20,403,051 shares of the insurance provider’s stock valued at $2,459,383,000 after purchasing an additional 19,585,476 shares in the last quarter. State Street Corp grew its holdings in shares of The Travelers Companies by 1.6% in the first quarter. State Street Corp now owns 18,949,803 shares of the insurance provider’s stock valued at $2,284,205,000 after purchasing an additional 304,049 shares in the last quarter. FMR LLC grew its holdings in shares of The Travelers Companies by 42.1% in the first quarter. FMR LLC now owns 6,596,545 shares of the insurance provider’s stock valued at $795,148,000 after purchasing an additional 1,954,573 shares in the last quarter. Finally, AQR Capital Management LLC grew its holdings in shares of The Travelers Companies by 9.4% in the first quarter. AQR Capital Management LLC now owns 3,026,207 shares of the insurance provider’s stock valued at $364,779,000 after purchasing an additional 260,838 shares in the last quarter. 77.48% of the stock is owned by hedge funds and other institutional investors.
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In other news, Vice Chairman William H. Heyman sold 24,000 shares of the stock in a transaction on Tuesday, July 25th. The stock was sold at an average price of $126.64, for a total transaction of $3,039,360.00. Following the completion of the transaction, the insider now directly owns 253,744 shares in the company, valued at approximately $32,134,140.16. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Kenneth Franklin Spence III sold 4,800 shares of the stock in a transaction on Monday, August 14th. The stock was sold at an average price of $128.73, for a total value of $617,904.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 144,877 shares of company stock valued at $18,539,282. Company insiders own 0.82% of the company’s stock.
TRV has been the subject of a number of recent research reports. 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. Credit Suisse Group cut their target price on shares of The Travelers Companies from $128.00 to $125.00 and set a “neutral” rating for the company in a report on Tuesday, September 12th. Wells Fargo & Company reissued a “hold” rating and issued a $125.00 target price on shares of The Travelers Companies in a report on Tuesday, September 12th. Zacks Investment Research lowered shares of The Travelers Companies from a “hold” rating to a “sell” rating in a report on Tuesday, September 5th. Finally, Citigroup Inc. reissued a “buy” rating and issued a $148.00 target price (down from $150.00) on shares of The Travelers Companies in a report on Monday, July 24th. Five investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and eight have assigned a buy rating to the company’s stock. The Travelers Companies has a consensus rating of “Hold” and an average target price of $126.18.
Shares of The Travelers Companies, Inc. (TRV) opened at 120.58 on Wednesday. The stock’s 50 day moving average price is $124.75 and its 200 day moving average price is $123.78. The company has a market capitalization of $33.27 billion, a P/E ratio of 12.01 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 (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $2.07 by ($0.15). The company had revenue of $6.35 billion during the quarter, compared to analysts’ expectations of $6.31 billion. The Travelers Companies had a net margin of 10.15% and a return on equity of 11.68%. The firm’s quarterly revenue was up 4.7% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.20 earnings per share. On average, equities research analysts forecast that The Travelers Companies, Inc. will post $7.64 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Stockholders of record on Friday, September 8th will be issued a dividend of $0.72 per share. This represents a $2.88 dividend on an annualized basis and a dividend yield of 2.39%. The ex-dividend date of this dividend is Thursday, September 7th. The Travelers Companies’s dividend payout ratio is presently 28.77%.
The Travelers Companies declared that its board has authorized a share repurchase program on Monday, September 11th that allows the company to buyback shares. This buyback authorization allows the insurance provider to purchase shares of its stock through open market purchases. Stock buyback programs are often an indication that the company’s management believes its stock is undervalued.
The Travelers Companies 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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