11,086 Shares in Travelers Companies Inc (TRV) Acquired by Belpointe Asset Management LLC
Belpointe Asset Management LLC acquired a new position in Travelers Companies Inc (NYSE:TRV) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 11,086 shares of the insurance provider’s stock, valued at approximately $1,358,000.
A number of other hedge funds have also recently bought and sold shares of TRV. Cullinan Associates Inc. boosted its holdings in Travelers Companies by 17.7% in the 2nd quarter. Cullinan Associates Inc. now owns 23,316 shares of the insurance provider’s stock worth $2,950,000 after buying an additional 3,500 shares during the last quarter. Hollencrest Securities LLC acquired a new stake in Travelers Companies in the 2nd quarter worth about $202,000. State of Alaska Department of Revenue boosted its holdings in Travelers Companies by 1.9% in the 2nd quarter. State of Alaska Department of Revenue now owns 2,660 shares of the insurance provider’s stock worth $336,000 after buying an additional 50 shares during the last quarter. National Pension Service boosted its holdings in Travelers Companies by 9.7% in the 2nd quarter. National Pension Service now owns 242,725 shares of the insurance provider’s stock worth $30,678,000 after buying an additional 21,536 shares during the last quarter. Finally, Liberty Capital Management Inc. boosted its holdings in Travelers Companies by 434.8% in the 2nd quarter. Liberty Capital Management Inc. now owns 1,230 shares of the insurance provider’s stock worth $154,000 after buying an additional 1,000 shares during the last quarter. Institutional investors own 78.67% of the company’s stock.
Several equities research analysts recently issued reports on TRV shares. Royal Bank of Canada reiterated a “buy” rating and issued a $135.00 price objective on shares of Travelers Companies in a report on Monday, August 21st. ValuEngine upgraded Travelers Companies from a “hold” rating to a “buy” rating in a report on Friday, September 1st. Zacks Investment Research cut Travelers Companies from a “hold” rating to a “sell” rating in a report on Tuesday, September 5th. Buckingham Research started coverage on shares of Travelers Companies in a research note on Monday, September 11th. They issued a “buy” rating and a $136.00 target price on the stock. Finally, Credit Suisse Group decreased their target price on shares of Travelers Companies from $128.00 to $125.00 and set a “neutral” rating on the stock in a research note on Tuesday, September 12th. Four equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and eight have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $132.01.
Travelers Companies Inc (TRV) traded down $0.79 on Thursday, reaching $133.56. 1,328,600 shares of the company’s stock were exchanged, compared to its average volume of 1,492,285. The company has a debt-to-equity ratio of 0.29, a current ratio of 0.41 and a quick ratio of 0.41. Travelers Companies Inc has a twelve month low of $113.76 and a twelve month high of $137.95. The stock has a market cap of $36,550.00, a price-to-earnings ratio of 16.41, a price-to-earnings-growth ratio of 2.65 and a beta of 1.25.
Travelers Companies (NYSE:TRV) last released its earnings results on Thursday, October 19th. The insurance provider reported $0.91 earnings per share for the quarter, missing the Zacks’ consensus estimate of $2.10 by ($1.19). The business had revenue of $6.66 billion during the quarter, compared to analysts’ expectations of $6.46 billion. Travelers Companies had a return on equity of 9.87% and a net margin of 8.56%. The company’s revenue for the quarter was up 4.2% compared to the same quarter last year. During the same period last year, the business earned $2.40 earnings per share. sell-side analysts forecast that Travelers Companies Inc will post 6.76 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, December 29th. Stockholders of record on Monday, December 11th will be given a dividend of $0.72 per share. This represents a $2.88 annualized dividend and a dividend yield of 2.16%. The ex-dividend date of this dividend is Friday, December 8th. Travelers Companies’s payout ratio is presently 33.29%.
Travelers Companies announced that its board has approved a stock buyback plan on Monday, September 11th that permits the company to buyback outstanding shares. This buyback authorization permits the insurance provider to reacquire shares of its stock through open market purchases. Shares buyback plans are generally an indication that the company’s board believes its shares are undervalued.
In other news, EVP Andy F. Bessette sold 2,000 shares of Travelers Companies stock in a transaction that occurred on Tuesday, November 14th. The shares were sold at an average price of $132.98, for a total transaction of $265,960.00. Following the sale, the executive vice president now owns 8,000 shares of the company’s stock, valued at approximately $1,063,840. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Michael Frederick Klein sold 20,077 shares of Travelers Companies stock in a transaction that occurred on Tuesday, November 21st. The shares were sold at an average price of $130.68, for a total transaction of $2,623,662.36. Following the sale, the executive vice president now directly owns 21,619 shares in the company, valued at approximately $2,825,170.92. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 55,302 shares of company stock worth $7,347,753. Corporate insiders own 0.82% of the company’s stock.
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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