Cypress Capital Management LLC Buys New Position in The Travelers Companies, Inc. (TRV)

Cypress Capital Management LLC bought a new stake in The Travelers Companies, Inc. (NYSE:TRV) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 1,783 shares of the insurance provider’s stock, valued at approximately $226,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Tradewinds Capital Management LLC lifted its stake in The Travelers Companies by 1.1% in the 2nd quarter. Tradewinds Capital Management LLC now owns 905 shares of the insurance provider’s stock valued at $115,000 after acquiring an additional 10 shares in the last quarter. Community Bank N.A. lifted its stake in The Travelers Companies by 0.7% in the 2nd quarter. Community Bank N.A. now owns 1,435 shares of the insurance provider’s stock valued at $181,000 after acquiring an additional 10 shares in the last quarter. First Business Financial Services Inc. lifted its stake in The Travelers Companies by 0.5% in the 2nd quarter. First Business Financial Services Inc. now owns 4,362 shares of the insurance provider’s stock valued at $552,000 after acquiring an additional 20 shares in the last quarter. Northern Oak Wealth Management Inc. lifted its stake in The Travelers Companies by 0.5% in the 1st quarter. Northern Oak Wealth Management Inc. now owns 4,873 shares of the insurance provider’s stock valued at $587,000 after acquiring an additional 23 shares in the last quarter. Finally, Lee Danner & Bass Inc. lifted its stake in The Travelers Companies by 0.4% in the 2nd quarter. Lee Danner & Bass Inc. now owns 6,574 shares of the insurance provider’s stock valued at $832,000 after acquiring an additional 24 shares in the last quarter. Hedge funds and other institutional investors own 77.48% of the company’s stock.

TRV has been the topic of several research reports. Royal Bank Of Canada restated a “buy” rating and issued a $135.00 target price on shares of The Travelers Companies in a research note on Monday, August 21st. Credit Suisse Group dropped their price objective on The Travelers Companies from $128.00 to $125.00 and set a “neutral” rating on the stock in a research note on Tuesday, September 12th. Zacks Investment Research upgraded The Travelers Companies from a “sell” rating to a “hold” rating in a research note on Thursday, September 14th. Citigroup Inc. dropped their price objective on The Travelers Companies from $142.00 to $140.00 and set a “buy” rating on the stock in a research note on Monday, October 2nd. Finally, ValuEngine upgraded The Travelers Companies from a “hold” rating to a “buy” rating in a research note on Friday, September 1st. Five investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and eight have issued a buy rating to the company. The Travelers Companies has a consensus rating of “Hold” and an average price target of $125.71.

In other news, Vice Chairman Jay S. Benet sold 5,518 shares of the company’s stock in a transaction dated Monday, July 17th. The stock was sold at an average price of $125.66, for a total value of $693,391.88. Following the completion of the transaction, the insider now directly owns 82,824 shares in the company, valued at approximately $10,407,663.84. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Vice Chairman Jay S. Benet sold 16,566 shares of the company’s stock in a transaction dated Wednesday, August 9th. The stock was sold at an average price of $130.01, for a total value of $2,153,745.66. Following the completion of the transaction, the insider now owns 93,872 shares of the company’s stock, valued at $12,204,298.72. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 128,323 shares of company stock valued at $16,436,703. 0.82% of the stock is owned by company insiders.

The Travelers Companies, Inc. (NYSE TRV) traded up 0.71% on Friday, hitting $126.84. The company had a trading volume of 134,307 shares. The stock has a 50 day moving average of $122.26 and a 200-day moving average of $123.93. The Travelers Companies, Inc. has a one year low of $103.45 and a one year high of $130.37. The stock has a market capitalization of $35.00 billion, a PE ratio of 12.63 and a beta of 1.20.

The Travelers Companies (NYSE:TRV) last announced its quarterly earnings results on Thursday, July 20th. The insurance provider reported $1.92 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $2.07 by ($0.15). The company had revenue of $6.35 billion during the quarter, compared to analysts’ expectations of $6.31 billion. The Travelers Companies had a net margin of 10.15% and a return on equity of 11.68%. 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 firm posted $2.20 earnings per share. Equities analysts anticipate that The Travelers Companies, Inc. will post $7.37 EPS for the current year.

The Travelers Companies announced that its board has authorized a share repurchase plan on Monday, September 11th that authorizes the company to repurchase shares. This repurchase authorization authorizes the insurance provider to buy shares of its stock through open market purchases. Shares repurchase plans are generally an indication that the company’s management believes its stock is undervalued.

The firm also recently announced a quarterly dividend, which was paid on Friday, September 29th. Investors of record on Friday, September 8th were given a dividend of $0.72 per share. This represents a $2.88 annualized dividend and a yield of 2.29%. The ex-dividend date of this dividend was Thursday, September 7th. The Travelers Companies’s payout ratio is 28.77%.

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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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Institutional Ownership by Quarter for The Travelers Companies (NYSE:TRV)

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