Travelers Companies Inc (TRV) Shares Bought by RNC Capital Management LLC
RNC Capital Management LLC increased its position in Travelers Companies Inc (NYSE:TRV) by 0.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 263,095 shares of the insurance provider’s stock after buying an additional 717 shares during the period. Travelers Companies accounts for about 2.5% of RNC Capital Management LLC’s investment portfolio, making the stock its 19th biggest position. RNC Capital Management LLC owned about 0.10% of Travelers Companies worth $35,686,000 at the end of the most recent reporting period.
Several other large investors have also recently bought and sold shares of TRV. Balyasny Asset Management LLC lifted its position in shares of Travelers Companies by 2,272.4% in the second quarter. Balyasny Asset Management LLC now owns 1,471,130 shares of the insurance provider’s stock worth $186,142,000 after buying an additional 1,409,121 shares in the last quarter. FIL Ltd purchased a new stake in shares of Travelers Companies in the second quarter worth about $161,641,000. Janus Henderson Group PLC lifted its position in shares of Travelers Companies by 3,559.7% in the second quarter. Janus Henderson Group PLC now owns 1,305,445 shares of the insurance provider’s stock worth $165,178,000 after buying an additional 1,269,774 shares in the last quarter. Robeco Institutional Asset Management B.V. purchased a new stake in shares of Travelers Companies in the third quarter worth about $78,058,000. Finally, Parametric Portfolio Associates LLC raised its position in Travelers Companies by 62.0% during the second quarter. Parametric Portfolio Associates LLC now owns 1,558,999 shares of the insurance provider’s stock valued at $197,260,000 after purchasing an additional 596,361 shares during the period. Institutional investors own 78.50% of the company’s stock.
In other news, EVP Michael Frederick Klein sold 20,077 shares of the stock in a transaction that occurred on Tuesday, November 21st. The stock was sold at an average price of $130.68, for a total value of $2,623,662.36. Following the sale, the executive vice president now directly owns 21,619 shares in the company, valued at $2,825,170.92. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Andy F. Bessette sold 2,000 shares of the stock in a transaction that occurred on Tuesday, November 14th. The stock was sold at an average price of $132.98, for a total value of $265,960.00. Following the completion of the transaction, the executive vice president now directly owns 8,000 shares in the company, valued at approximately $1,063,840. The disclosure for this sale can be found here. Over the last quarter, insiders sold 55,302 shares of company stock worth $7,347,753. Company insiders own 0.82% of the company’s stock.
A number of equities research analysts have issued reports on the company. Goldman Sachs Group assumed coverage on Travelers Companies in a research report on Monday, December 4th. They set a “sell” rating and a $124.00 price objective on the stock. Keefe, Bruyette & Woods restated a “buy” rating and set a $152.00 price objective on shares of Travelers Companies in a research report on Wednesday, December 6th. Royal Bank of Canada restated a “buy” rating and set a $148.00 price objective on shares of Travelers Companies in a research report on Friday, December 8th. B. Riley restated a “neutral” rating on shares of Travelers Companies in a research report on Monday, November 6th. Finally, Argus upped their price objective on Travelers Companies from $139.00 to $145.00 and gave the company a “positive” rating in a research report on Monday, October 23rd. They noted that the move was a valuation call. Three research analysts have rated the stock with a sell rating, eight have given a hold rating and nine have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $134.38.
Shares of Travelers Companies Inc (NYSE:TRV) opened at $135.52 on Wednesday. The company has a quick ratio of 0.41, a current ratio of 0.41 and a debt-to-equity ratio of 0.29. Travelers Companies Inc has a fifty-two week low of $113.76 and a fifty-two week high of $137.95. The firm has a market capitalization of $36,875.05, a P/E ratio of 15.74, a PEG ratio of 1.88 and a beta of 1.25.
Travelers Companies (NYSE:TRV) last issued its quarterly earnings results on Thursday, October 19th. The insurance provider reported $0.91 earnings per share for the quarter, missing the consensus estimate of $2.10 by ($1.19). Travelers Companies had a return on equity of 9.87% and a net margin of 8.56%. The business had revenue of $6.66 billion during the quarter, compared to analysts’ expectations of $6.46 billion. During the same quarter in the previous year, the company posted $2.40 earnings per share. The company’s quarterly revenue was up 4.2% compared to the same quarter last year. research analysts anticipate that Travelers Companies Inc will post 6.64 EPS for the current year.
Travelers Companies declared that its Board of Directors has initiated a stock repurchase program on Thursday, November 9th that permits the company to repurchase outstanding shares. This repurchase authorization permits the insurance provider to buy shares of its stock through open market purchases. Shares repurchase programs are typically an indication that the company’s leadership believes its shares are undervalued.
The firm also recently declared a quarterly dividend, which was paid on Friday, December 29th. Stockholders of record on Monday, December 11th were issued a $0.72 dividend. The ex-dividend date of this dividend was Friday, December 8th. This represents a $2.88 annualized dividend and a dividend yield of 2.13%. Travelers Companies’s payout ratio is 33.45%.
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About Travelers Companies
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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