Andra AP fonden lessened its position in shares of The Travelers Companies, Inc. (NYSE:TRV) by 1.3% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 104,465 shares of the insurance provider’s stock after selling 1,335 shares during the quarter. Andra AP fonden’s holdings in The Travelers Companies were worth $13,218,000 at the end of the most recent quarter.
Several other large investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its stake in shares of The Travelers Companies by 3.0% during the 1st quarter. Vanguard Group Inc. now owns 21,551,932 shares of the insurance provider’s stock worth $2,597,871,000 after buying an additional 633,510 shares during the last quarter. BlackRock Inc. raised its stake in shares of The Travelers Companies by 2,395.6% during the 1st quarter. BlackRock Inc. now owns 20,403,051 shares of the insurance provider’s stock worth $2,459,383,000 after buying an additional 19,585,476 shares during the last quarter. State Street Corp raised its stake in shares of The Travelers Companies by 1.6% during the 1st quarter. State Street Corp now owns 18,949,803 shares of the insurance provider’s stock worth $2,284,205,000 after buying an additional 304,049 shares during the last quarter. FMR LLC raised its stake in shares of The Travelers Companies by 42.1% during the 1st quarter. FMR LLC now owns 6,596,545 shares of the insurance provider’s stock worth $795,148,000 after buying an additional 1,954,573 shares during the last quarter. Finally, AQR Capital Management LLC raised its stake in shares of The Travelers Companies by 9.4% during the 1st quarter. AQR Capital Management LLC now owns 3,026,207 shares of the insurance provider’s stock worth $364,779,000 after buying an additional 260,838 shares during the last quarter. 77.55% of the stock is owned by institutional investors and hedge funds.
The Travelers Companies, Inc. (TRV) opened at 122.48 on Wednesday. The stock’s 50 day moving average is $125.75 and its 200-day moving average is $123.88. The Travelers Companies, Inc. has a 1-year low of $103.45 and a 1-year high of $130.37. The firm has a market cap of $33.80 billion, a P/E ratio of 12.20 and a beta of 1.21.
The Travelers Companies (NYSE:TRV) last announced its quarterly earnings data on Thursday, July 20th. The insurance provider reported $1.92 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.07 by ($0.15). The business had revenue of $6.35 billion during the quarter, compared to analysts’ expectations of $6.31 billion. The Travelers Companies had a return on equity of 11.68% and a net margin of 10.15%. The firm’s revenue was up 4.7% on a year-over-year basis. During the same period in the prior year, the company posted $2.20 earnings per share. Analysts forecast that The Travelers Companies, Inc. will post $8.89 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Friday, September 8th will be paid a $0.72 dividend. This represents a $2.88 annualized dividend and a yield of 2.35%. The ex-dividend date is Thursday, September 7th. The Travelers Companies’s dividend payout ratio is currently 28.77%.
The Travelers Companies announced that its Board of Directors has initiated a stock repurchase program on Monday, September 11th that allows the company to repurchase shares. This repurchase authorization allows the insurance provider to purchase shares of its stock through open market purchases. Shares repurchase programs are generally an indication that the company’s management believes its shares are undervalued.
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In related news, EVP Andy F. Bessette sold 3,300 shares of the stock in a transaction dated Tuesday, August 1st. The stock was sold at an average price of $128.50, for a total value of $424,050.00. Following the completion of the sale, the executive vice president now directly owns 10,000 shares of the company’s stock, valued at approximately $1,285,000. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Vice Chairman Jay S. Benet sold 5,518 shares of the stock in a transaction dated Monday, June 19th. The stock was sold at an average price of $128.72, for a total value of $710,276.96. Following the completion of the sale, the insider now directly owns 82,824 shares of the company’s stock, valued at $10,661,105.28. The disclosure for this sale can be found here. Over the last three months, insiders sold 150,395 shares of company stock valued at $19,249,559. Company insiders own 0.82% of the company’s stock.
Several research firms have recently issued reports on TRV. Citigroup Inc. lifted their price target on The Travelers Companies from $140.00 to $150.00 and gave the stock a “buy” rating in a research note on Thursday, July 13th. BidaskClub downgraded The Travelers Companies from a “hold” rating to a “sell” rating in a research note on Monday, July 24th. Buckingham Research began coverage on The Travelers Companies in a research note on Monday. They set a “buy” rating and a $136.00 price target for the company. Royal Bank Of Canada reaffirmed a “buy” rating and set a $135.00 price target on shares of The Travelers Companies in a research note on Monday, August 21st. Finally, Bank of America Corporation downgraded The Travelers Companies from a “buy” rating to a “neutral” rating and lifted their price target for the stock from $120.62 to $129.44 in a research note on Monday, June 19th. Six research analysts have rated the stock with a sell rating, seven have assigned a hold rating and eight have assigned a buy rating to the company’s stock. The Travelers Companies has an average rating of “Hold” and a consensus price target of $126.26.
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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