Independent Advisor Alliance raised its holdings in Travelers Companies Inc (NYSE:TRV) by 17.9% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 14,445 shares of the insurance provider’s stock after buying an additional 2,194 shares during the period. Independent Advisor Alliance’s holdings in Travelers Companies were worth $1,805,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors have also added to or reduced their stakes in the company. Balyasny Asset Management LLC raised its holdings in shares of Travelers Companies by 2,272.4% in the second quarter. Balyasny Asset Management LLC now owns 1,471,130 shares of the insurance provider’s stock valued at $186,142,000 after purchasing an additional 1,409,121 shares during the last quarter. FIL Ltd purchased a new stake in shares of Travelers Companies in the second quarter valued at about $161,641,000. Janus Henderson Group PLC raised its holdings in shares of Travelers Companies by 3,559.7% in the second quarter. Janus Henderson Group PLC now owns 1,305,445 shares of the insurance provider’s stock valued at $165,178,000 after purchasing an additional 1,269,774 shares during the last quarter. American Century Companies Inc. raised its holdings in shares of Travelers Companies by 2,264.8% in the second quarter. American Century Companies Inc. now owns 901,739 shares of the insurance provider’s stock valued at $114,097,000 after purchasing an additional 863,607 shares during the last quarter. Finally, Robeco Institutional Asset Management B.V. purchased a new stake in shares of Travelers Companies in the third quarter valued at about $78,058,000. 78.67% of the stock is currently owned by hedge funds and other institutional investors.
TRV has been the subject of several analyst reports. Royal Bank of Canada reiterated a “buy” rating and issued a $135.00 target price on shares of Travelers Companies in a report on Monday, August 21st. ValuEngine upgraded shares of Travelers Companies from a “hold” rating to a “buy” rating in a report on Friday, September 1st. Zacks Investment Research downgraded shares of Travelers Companies from a “hold” rating to a “sell” rating in a report on Tuesday, September 5th. Buckingham Research initiated coverage on shares of Travelers Companies in a report on Monday, September 11th. They issued a “buy” rating and a $136.00 target price for the company. Finally, Credit Suisse Group lowered their target price on shares of Travelers Companies from $128.00 to $125.00 and set a “neutral” rating for the company in a report on Tuesday, September 12th. Four research analysts have rated the stock with a sell rating, nine have assigned a hold rating and eight have given a buy rating to the company. Travelers Companies presently has an average rating of “Hold” and an average target price of $132.01.
Travelers Companies (NYSE:TRV) last posted its quarterly earnings data on Thursday, October 19th. The insurance provider reported $0.91 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.10 by ($1.19). Travelers Companies had a return on equity of 9.87% and a net margin of 8.56%. The company had revenue of $6.66 billion for the quarter, compared to analysts’ expectations of $6.46 billion. During the same quarter last year, the business posted $2.40 EPS. The business’s quarterly revenue was up 4.2% on a year-over-year basis. research analysts predict that Travelers Companies Inc will post 6.76 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 29th. Investors of record on Monday, December 11th will be issued a dividend of $0.72 per share. The ex-dividend date of this dividend is Friday, December 8th. This represents a $2.88 dividend on an annualized basis and a yield of 2.15%. Travelers Companies’s dividend payout ratio (DPR) is presently 33.45%.
Travelers Companies declared that its board has authorized a stock repurchase program on Monday, September 11th that allows the company to repurchase shares. This repurchase authorization allows the insurance provider to buy shares of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s leadership believes its shares are undervalued.
In other news, EVP Maria Olivo sold 33,225 shares of Travelers Companies stock in a transaction dated Wednesday, November 29th. The shares were sold at an average price of $134.18, for a total value of $4,458,130.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Michael Frederick Klein sold 20,077 shares of Travelers Companies stock in a transaction dated Tuesday, November 21st. The stock was sold at an average price of $130.68, for a total transaction of $2,623,662.36. Following the completion of the transaction, the executive vice president now owns 21,619 shares of the company’s stock, valued at approximately $2,825,170.92. The disclosure for this sale can be found here. Insiders have sold 55,302 shares of company stock valued at $7,347,753 in the last 90 days. 0.82% of the stock is currently owned by corporate insiders.
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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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