1,548 Shares in Travelers Companies Inc (TRV) Acquired by Starfire Investment Advisers Inc.
Starfire Investment Advisers Inc. bought a new stake in Travelers Companies Inc (NYSE:TRV) in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 1,548 shares of the insurance provider’s stock, valued at approximately $200,000.
Other large investors have also recently modified their holdings of the company. Hartford Financial Management Inc. acquired a new stake in Travelers Companies in the 2nd quarter valued at about $205,000. Valeo Financial Advisors LLC acquired a new stake in Travelers Companies during the second quarter worth approximately $464,000. Nuance Investments LLC lifted its position in Travelers Companies by 16.2% during the second quarter. Nuance Investments LLC now owns 630,719 shares of the insurance provider’s stock worth $77,162,000 after acquiring an additional 88,049 shares during the last quarter. Sky Investment Group LLC acquired a new stake in Travelers Companies during the second quarter worth approximately $1,026,000. Finally, Flagship Harbor Advisors LLC acquired a new stake in Travelers Companies during the second quarter worth approximately $248,000. Institutional investors and hedge funds own 79.33% of the company’s stock.
Several brokerages have issued reports on TRV. Zacks Investment Research downgraded shares of Travelers Companies from a “hold” rating to a “sell” rating in a research report on Wednesday, September 19th. TheStreet upgraded shares of Travelers Companies from a “c+” rating to a “b” rating in a research report on Thursday, August 30th. B. Riley raised their price objective on shares of Travelers Companies from $118.00 to $136.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 7th. Citigroup raised their price objective on shares of Travelers Companies from $144.00 to $149.00 and gave the stock a “buy” rating in a research report on Monday, July 30th. Finally, ValuEngine upgraded shares of Travelers Companies from a “sell” rating to a “hold” rating in a research report on Saturday, July 28th. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating and four have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $136.36.
Travelers Companies (NYSE:TRV) last released its quarterly earnings results on Thursday, October 18th. The insurance provider reported $2.54 earnings per share for the quarter, beating analysts’ consensus estimates of $2.26 by $0.28. Travelers Companies had a net margin of 8.18% and a return on equity of 10.86%. The company had revenue of $6.88 billion during the quarter, compared to the consensus estimate of $6.83 billion. During the same period in the previous year, the business earned $0.91 earnings per share. The firm’s quarterly revenue was up 5.5% on a year-over-year basis. On average, sell-side analysts anticipate that Travelers Companies Inc will post 9.88 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, December 31st. Stockholders of record on Monday, December 10th will be given a $0.77 dividend. The ex-dividend date is Friday, December 7th. This represents a $3.08 dividend on an annualized basis and a dividend yield of 2.35%. Travelers Companies’s payout ratio is 42.31%.
In related news, Vice Chairman Jay S. Benet sold 8,876 shares of Travelers Companies stock in a transaction that occurred on Tuesday, August 21st. The shares were sold at an average price of $132.00, for a total value of $1,171,632.00. Following the transaction, the insider now directly owns 94,176 shares of the company’s stock, valued at $12,431,232. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Andy F. Bessette sold 8,892 shares of Travelers Companies stock in a transaction that occurred on Friday, August 17th. The shares were sold at an average price of $130.78, for a total transaction of $1,162,895.76. Following the completion of the transaction, the executive vice president now directly owns 10,551 shares in the company, valued at $1,379,859.78. The disclosure for this sale can be found here. 0.80% of the stock is currently owned by insiders.
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About Travelers Companies
The Travelers Companies, Inc, through its subsidiaries, provides a range of commercial and personal property, and casualty insurance products and services to businesses, government units, associations, and individuals in the United states and internationally. The company operates through three segments: Business Insurance, Bond & Specialty Insurance, and Personal Insurance.
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