United Services Automobile Association raised its position in The Travelers Companies, Inc. (NYSE:TRV) by 2.0% during the first quarter, according to its most recent disclosure with the SEC. The firm owned 94,273 shares of the insurance provider’s stock after buying an additional 1,813 shares during the period. United Services Automobile Association’s holdings in The Travelers Companies were worth $11,364,000 at the end of the most recent quarter.
A number of other institutional investors have also added to or reduced their stakes in TRV. First Manhattan Co. raised its stake in The Travelers Companies by 3.9% in the first quarter. First Manhattan Co. now owns 190,036 shares of the insurance provider’s stock worth $21,768,000 after buying an additional 7,216 shares during the period. Janney Montgomery Scott LLC raised its stake in The Travelers Companies by 5.4% in the first quarter. Janney Montgomery Scott LLC now owns 174,890 shares of the insurance provider’s stock worth $21,081,000 after buying an additional 8,909 shares during the period. Teza Capital Management LLC bought a new stake in The Travelers Companies during the first quarter worth about $1,637,000. Great Lakes Advisors LLC raised its stake in The Travelers Companies by 50.7% in the first quarter. Great Lakes Advisors LLC now owns 109,810 shares of the insurance provider’s stock worth $13,236,000 after buying an additional 36,923 shares during the period. Finally, Lincoln National Corp bought a new stake in The Travelers Companies during the first quarter worth about $275,000. 77.92% of the stock is owned by institutional investors.
The Travelers Companies, Inc. (TRV) opened at 125.15 on Friday. The Travelers Companies, Inc. has a one year low of $103.45 and a one year high of $129.60. The stock has a market cap of $34.97 billion, a price-to-earnings ratio of 12.31 and a beta of 1.21. The firm’s 50 day moving average price is $126.44 and its 200 day moving average price is $122.05.
The Travelers Companies (NYSE:TRV) last posted its quarterly earnings data on Thursday, July 20th. The insurance provider reported $1.92 earnings per share for the quarter, missing the consensus estimate of $2.07 by $0.15. The company had revenue of $6.35 billion during the quarter, compared to analyst estimates of $6.31 billion. The Travelers Companies had a net margin of 10.15% and a return on equity of 11.68%. The company’s revenue was up 4.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.20 EPS. Equities analysts forecast that The Travelers Companies, Inc. will post $9.09 earnings per share for the current year.
The Travelers Companies announced that its Board of Directors has approved a stock repurchase program on Thursday, April 20th that allows the company to buyback $5.00 billion in shares. This buyback authorization allows the insurance provider to buy shares of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board of directors believes its shares are undervalued.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Friday, September 8th will be given a $0.72 dividend. This represents a $2.88 annualized dividend and a yield of 2.30%. The ex-dividend date of this dividend is Thursday, September 7th. The Travelers Companies’s payout ratio is presently 28.77%.
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TRV has been the topic of a number of research reports. Argus upgraded The Travelers Companies from a “hold” rating to a “buy” rating and set a $132.00 price target on the stock in a research note on Monday, April 24th. Citigroup Inc. upped their price target on The Travelers Companies from $140.00 to $142.00 and gave the stock a “buy” rating in a research note on Friday, April 7th. Royal Bank Of Canada restated a “buy” rating and set a $126.00 price target on shares of The Travelers Companies in a research note on Monday, May 22nd. Morgan Stanley restated an “underweight” rating and set a $119.00 price target (up from $112.00) on shares of The Travelers Companies in a research note on Friday, July 7th. Finally, Keefe, Bruyette & Woods reiterated a “hold” rating on shares of The Travelers Companies in a research note on Tuesday, June 20th. Four research analysts have rated the stock with a sell rating, seven have issued a hold rating and six have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $123.47.
In other news, EVP Kenneth Franklin Spence III sold 15,971 shares of The Travelers Companies stock in a transaction that occurred on Monday, April 24th. The shares were sold at an average price of $120.06, for a total transaction of $1,917,478.26. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, COO Brian W. Maclean sold 87,916 shares of The Travelers Companies stock in a transaction that occurred on Monday, April 24th. The stock was sold at an average price of $120.01, for a total transaction of $10,550,799.16. Following the sale, the chief operating officer now owns 210,602 shares of the company’s stock, valued at approximately $25,274,346.02. The disclosure for this sale can be found here. Insiders sold a total of 190,264 shares of company stock valued at $23,233,448 in the last 90 days. Corporate insiders own 0.82% of the company’s stock.
The Travelers Companies Company 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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