Dearborn Partners LLC Increases Holdings in The Travelers Companies, Inc. (TRV)
Dearborn Partners LLC boosted its holdings in shares of The Travelers Companies, Inc. (NYSE:TRV) by 2.2% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 159,598 shares of the insurance provider’s stock after acquiring an additional 3,470 shares during the quarter. The Travelers Companies accounts for about 1.5% of Dearborn Partners LLC’s investment portfolio, making the stock its 29th largest holding. Dearborn Partners LLC owned 0.06% of The Travelers Companies worth $20,194,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also made changes to their positions in the business. WMS Partners LLC boosted its position in The Travelers Companies by 10.3% during the 2nd quarter. WMS Partners LLC now owns 2,721 shares of the insurance provider’s stock worth $344,000 after acquiring an additional 253 shares during the period. Manchester Capital Management LLC boosted its position in The Travelers Companies by 2.5% during the 2nd quarter. Manchester Capital Management LLC now owns 2,427 shares of the insurance provider’s stock worth $307,000 after acquiring an additional 60 shares during the period. Calamos Advisors LLC boosted its position in The Travelers Companies by 2.5% during the 2nd quarter. Calamos Advisors LLC now owns 29,279 shares of the insurance provider’s stock worth $3,705,000 after acquiring an additional 708 shares during the period. Atlantic Trust Group LLC boosted its position in The Travelers Companies by 7.8% during the 2nd quarter. Atlantic Trust Group LLC now owns 21,704 shares of the insurance provider’s stock worth $2,746,000 after acquiring an additional 1,573 shares during the period. Finally, Tradition Capital Management LLC acquired a new stake in The Travelers Companies during the 2nd quarter worth about $207,000. Hedge funds and other institutional investors own 77.48% of the company’s stock.
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In other The Travelers Companies news, Vice Chairman William H. Heyman sold 24,000 shares of the company’s stock in a transaction that occurred on Tuesday, July 25th. The stock was sold at an average price of $126.64, for a total value of $3,039,360.00. Following the sale, the insider now owns 253,744 shares in the company, valued at $32,134,140.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Vice Chairman Jay S. Benet sold 5,518 shares of the company’s stock in a transaction that occurred on Monday, June 26th. The shares were sold at an average price of $127.49, for a total value of $703,489.82. Following the completion of the sale, the insider now owns 82,824 shares in the company, valued at approximately $10,559,231.76. The disclosure for this sale can be found here. Insiders sold 144,877 shares of company stock worth $18,539,282 in the last 90 days. Corporate insiders own 0.82% of the company’s stock.
A number of equities research analysts have commented on the company. Barclays PLC raised their price objective on The Travelers Companies from $119.00 to $122.00 and gave the stock an “equal weight” rating in a research report on Friday, August 11th. Bank of America Corporation lowered The Travelers Companies from a “buy” rating to a “neutral” rating and lifted their price target for the company from $120.62 to $129.44 in a report on Monday, June 19th. BidaskClub upgraded The Travelers Companies from a “hold” rating to a “buy” rating in a report on Saturday, June 17th. Keefe, Bruyette & Woods reiterated a “hold” rating on shares of The Travelers Companies in a report on Tuesday, June 20th. Finally, Royal Bank Of Canada reiterated a “buy” rating and set a $135.00 price target on shares of The Travelers Companies in a report on Monday, August 21st. Five investment analysts have rated the stock with a sell rating, nine have given a hold rating and eight have assigned a buy rating to the company. The Travelers Companies presently has a consensus rating of “Hold” and an average price target of $126.18.
Shares of The Travelers Companies, Inc. (NYSE:TRV) opened at 121.91 on Thursday. The firm has a market cap of $33.64 billion, a price-to-earnings ratio of 12.14 and a beta of 1.21. The Travelers Companies, Inc. has a one year low of $103.45 and a one year high of $130.37. The stock’s 50 day moving average price is $124.75 and its 200 day moving average price is $123.78.
The Travelers Companies (NYSE:TRV) last released its quarterly earnings data on Thursday, July 20th. The insurance provider reported $1.92 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.07 by ($0.15). The business had revenue of $6.35 billion during the quarter, compared to the consensus estimate of $6.31 billion. The Travelers Companies had a net margin of 10.15% and a return on equity of 11.68%. The Travelers Companies’s quarterly revenue was up 4.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.20 EPS. On average, equities analysts anticipate that The Travelers Companies, Inc. will post $7.67 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Friday, September 8th will be paid a $0.72 dividend. The ex-dividend date is Thursday, September 7th. This represents a $2.88 annualized dividend and a yield of 2.36%. The Travelers Companies’s dividend payout ratio is 28.77%.
The Travelers Companies declared that its Board of Directors has authorized a share buyback program on Monday, September 11th that permits the company to buyback outstanding shares. This buyback authorization permits the insurance provider to buy shares of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s management believes its shares are 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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