Cibc Bank USA Lowers Stake in Travelers Companies Inc (TRV)
Cibc Bank USA reduced its stake in shares of Travelers Companies Inc (NYSE:TRV) by 29.3% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,266 shares of the insurance provider’s stock after selling 1,353 shares during the period. Cibc Bank USA’s holdings in Travelers Companies were worth $443,000 at the end of the most recent quarter.
Several other large investors also recently bought and sold shares of TRV. Balyasny Asset Management LLC lifted its stake in shares of Travelers Companies by 2,272.4% during 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 during the period. FIL Ltd acquired a new stake in shares of Travelers Companies during the second quarter worth $161,641,000. Janus Henderson Group PLC lifted its stake in shares of Travelers Companies by 3,559.7% during 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 during the period. Robeco Institutional Asset Management B.V. acquired a new stake in shares of Travelers Companies during the third quarter worth $78,058,000. Finally, Parametric Portfolio Associates LLC lifted its stake in shares of 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 worth $197,260,000 after buying an additional 596,361 shares during the period. Institutional investors and hedge funds own 78.50% of the company’s stock.
In other Travelers Companies news, EVP Michael Frederick Klein sold 20,077 shares of Travelers Companies stock in a transaction on Tuesday, November 21st. The shares were sold at an average price of $130.68, for a total value of $2,623,662.36. Following the completion of the transaction, the executive vice president now owns 21,619 shares of the company’s stock, valued at $2,825,170.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Maria Olivo sold 33,225 shares of Travelers Companies stock in a transaction on Wednesday, November 29th. The shares were sold at an average price of $134.18, for a total transaction of $4,458,130.50. The disclosure for this sale can be found here. Insiders sold 55,302 shares of company stock valued at $7,347,753 in the last ninety days. 0.82% of the stock is owned by corporate insiders.
Travelers Companies (NYSE:TRV) last posted its earnings results on Thursday, October 19th. The insurance provider reported $0.91 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.10 by ($1.19). Travelers Companies had a net margin of 8.56% and a return on equity of 9.87%. The business had revenue of $6.66 billion for the quarter, compared to analyst estimates of $6.46 billion. During the same quarter in the prior year, the firm earned $2.40 earnings per share. The company’s revenue for the quarter was up 4.2% on a year-over-year basis. equities analysts predict that Travelers Companies Inc will post 6.64 earnings per share for the current year.
Travelers Companies declared that its board has authorized a share repurchase plan on Thursday, November 9th that permits the company to repurchase shares. This repurchase authorization permits the insurance provider to buy shares of its stock through open market purchases. Shares repurchase plans are usually a sign that the company’s board believes its shares are undervalued.
Several research firms have recently commented on TRV. Zacks Investment Research upgraded shares of Travelers Companies from a “sell” rating to a “hold” rating in a research note on Thursday, October 26th. Royal Bank of Canada reiterated a “buy” rating and set a $148.00 price objective on shares of Travelers Companies in a research note on Friday, December 8th. Morgan Stanley boosted their target price on shares of Travelers Companies from $119.00 to $124.00 and gave the company an “underweight” rating in a research report on Friday, October 20th. Argus boosted their target price on shares of 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. Finally, ValuEngine downgraded shares of Travelers Companies from a “buy” rating to a “hold” rating in a research report on Wednesday, January 3rd. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have assigned a buy rating to the company. Travelers Companies presently has an average rating of “Hold” and a consensus target price of $134.38.
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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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