Pinnacle Financial Partners Inc. Raises Holdings in Travelers Companies Inc (NYSE:TRV)
Pinnacle Financial Partners Inc. lifted its holdings in shares of Travelers Companies Inc (NYSE:TRV) by 3.7% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 4,637 shares of the insurance provider’s stock after purchasing an additional 164 shares during the period. Pinnacle Financial Partners Inc.’s holdings in Travelers Companies were worth $635,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds have also modified their holdings of TRV. Cedar Mountain Advisors LLC purchased a new position in Travelers Companies in the 4th quarter valued at approximately $25,000. Allred Capital Management LLC purchased a new position in Travelers Companies in the 4th quarter valued at approximately $29,000. Bourgeon Capital Management LLC purchased a new position in Travelers Companies in the 3rd quarter valued at approximately $36,000. Savior LLC purchased a new position in Travelers Companies in the 4th quarter valued at approximately $34,000. Finally, Howard Wealth Management LLC purchased a new position in Travelers Companies in the 4th quarter valued at approximately $35,000. 80.26% of the stock is owned by institutional investors and hedge funds.
In other Travelers Companies news, Vice Chairman William H. Heyman sold 2,185 shares of the stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $136.20, for a total transaction of $297,597.00. Following the sale, the insider now owns 241,930 shares in the company, valued at approximately $32,950,866. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.73% of the stock is currently owned by corporate insiders.
Travelers Companies (NYSE:TRV) last announced its earnings results on Thursday, January 23rd. The insurance provider reported $3.32 EPS for the quarter, beating analysts’ consensus estimates of $3.23 by $0.09. The firm had revenue of $7.08 billion for the quarter, compared to analysts’ expectations of $7.26 billion. Travelers Companies had a return on equity of 10.03% and a net margin of 8.30%. Travelers Companies’s quarterly revenue was up 5.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.13 EPS. As a group, research analysts predict that Travelers Companies Inc will post 10.37 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Tuesday, March 10th will be issued a dividend of $0.82 per share. This represents a $3.28 dividend on an annualized basis and a yield of 2.39%. The ex-dividend date is Monday, March 9th. Travelers Companies’s dividend payout ratio (DPR) is presently 34.17%.
Several research firms recently weighed in on TRV. Argus dropped their price objective on Travelers Companies to $145.00 in a research note on Thursday, October 24th. Evercore ISI began coverage on Travelers Companies in a research note on Thursday, October 17th. They issued an “underperform” rating and a $128.00 price objective for the company. Wells Fargo & Co dropped their price objective on Travelers Companies from $136.00 to $130.00 and set an “underweight” rating for the company in a research note on Friday, January 24th. Morgan Stanley dropped their price objective on Travelers Companies from $136.00 to $125.00 and set an “underweight” rating for the company in a research note on Wednesday, October 23rd. Finally, Citigroup dropped their price objective on Travelers Companies from $146.00 to $142.00 and set a “neutral” rating for the company in a research note on Wednesday, January 29th. Four equities research analysts have rated the stock with a sell rating, eight have given a hold rating and two have given a buy rating to the stock. Travelers Companies presently has an average rating of “Hold” and an average price target of $144.86.
Travelers Companies Company Profile
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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