Penserra Capital Management LLC purchased a new position in shares of The Travelers Companies, Inc. (NYSE:TRV) in the second quarter, according to its most recent filing with the SEC. The firm purchased 3,645 shares of the insurance provider’s stock, valued at approximately $461,000.
Other institutional investors have also modified their holdings of the company. CWM LLC grew its holdings in The Travelers Companies by 4.9% during the 2nd quarter. CWM LLC now owns 794 shares of the insurance provider’s stock worth $100,000 after acquiring an additional 37 shares during the period. Westside Investment Management Inc. grew its holdings in The Travelers Companies by 361.1% during the 1st quarter. Westside Investment Management Inc. now owns 876 shares of the insurance provider’s stock worth $106,000 after acquiring an additional 686 shares during the period. First Personal Financial Services grew its holdings in The Travelers Companies by 133.3% during the 1st quarter. First Personal Financial Services now owns 889 shares of the insurance provider’s stock worth $107,000 after acquiring an additional 508 shares during the period. Tradewinds Capital Management LLC grew its holdings in The Travelers Companies by 1.1% during the 2nd quarter. Tradewinds Capital Management LLC now owns 905 shares of the insurance provider’s stock worth $115,000 after acquiring an additional 10 shares during the period. Finally, Liberty Capital Management Inc. grew its holdings in The Travelers Companies by 434.8% during the 2nd quarter. Liberty Capital Management Inc. now owns 1,230 shares of the insurance provider’s stock worth $154,000 after acquiring an additional 1,000 shares during the period. Hedge funds and other institutional investors own 77.55% of the company’s stock.
The Travelers Companies, Inc. (TRV) opened at 122.48 on Wednesday. The firm’s 50-day moving average price is $125.75 and its 200-day moving average price 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 for the quarter, missing the Zacks’ 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 Travelers Companies’s revenue for the quarter was up 4.7% compared to the same quarter last year. During the same quarter last year, the company posted $2.20 EPS. Equities research analysts anticipate that The Travelers Companies, Inc. will post $8.89 earnings per share for the current fiscal year.
The Travelers Companies announced that its board has approved a share buyback plan on Monday, September 11th that permits the company to buyback outstanding shares. This buyback authorization permits the insurance provider to reacquire shares of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s leadership believes its stock is undervalued.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Friday, September 8th will be issued a $0.72 dividend. This represents a $2.88 dividend on an annualized basis and a yield of 2.35%. The ex-dividend date is Thursday, September 7th. The Travelers Companies’s dividend payout ratio (DPR) is presently 28.77%.
TRV has been the subject of a number of recent analyst reports. Royal Bank Of Canada reiterated a “buy” rating and set a $135.00 price target on shares of The Travelers Companies in a report on Monday, August 21st. ValuEngine upgraded The Travelers Companies from a “hold” rating to a “buy” rating in a report on Friday, September 1st. Morgan Stanley restated an “underweight” rating and issued a $119.00 target price (up from $112.00) on shares of The Travelers Companies in a research note on Friday, July 7th. Citigroup Inc. restated a “buy” rating and issued a $148.00 target price (down from $150.00) on shares of The Travelers Companies in a research note on Monday, July 24th. Finally, Keefe, Bruyette & Woods restated a “hold” rating on shares of The Travelers Companies in a research note on Tuesday, June 20th. Six research analysts have rated the stock with a sell rating, seven have issued a hold rating and eight have issued a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $126.26.
In other The Travelers Companies news, EVP Andy F. Bessette sold 3,300 shares of the company’s stock in a transaction dated Tuesday, August 1st. The shares were sold at an average price of $128.50, for a total value of $424,050.00. Following the sale, the executive vice president now owns 10,000 shares in the company, valued at $1,285,000. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Vice Chairman Jay S. Benet sold 5,518 shares of the company’s stock in a transaction dated Monday, June 26th. The stock was sold at an average price of $127.49, for a total transaction of $703,489.82. Following the completion of the sale, the insider now owns 82,824 shares in the company, valued at approximately $10,559,231.76. The disclosure for this sale can be found here. In the last 90 days, insiders sold 150,395 shares of company stock worth $19,249,559. Corporate insiders own 0.82% of the company’s stock.
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The Travelers Companies 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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