Conning Inc. reduced its position in Travelers Companies Inc (NYSE:TRV) by 0.9% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 13,010 shares of the company’s stock after selling 120 shares during the period. Conning Inc.’s holdings in Travelers Companies were worth $1,549,000 as of its most recent SEC filing.
A number of other hedge funds have also recently added to or reduced their stakes in TRV. Bank of Montreal Can bought a new position in Travelers Companies during the second quarter worth approximately $374,228,000. UBS Asset Management Americas Inc. raised its position in Travelers Companies by 32.7% in the first quarter. UBS Asset Management Americas Inc. now owns 2,236,907 shares of the company’s stock worth $261,070,000 after buying an additional 551,568 shares during the last quarter. Norges Bank bought a new position in Travelers Companies during the fourth quarter worth approximately $54,470,000. Virginia Retirement System bought a new position in Travelers Companies during the first quarter worth approximately $24,142,000. Finally, Riverhead Capital Management LLC raised its position in Travelers Companies by 45.6% in the first quarter. Riverhead Capital Management LLC now owns 487,388 shares of the company’s stock worth $56,884,000 after buying an additional 152,586 shares during the last quarter. 80.12% of the stock is owned by institutional investors and hedge funds.
Travelers Companies Inc (NYSE:TRV) traded down 1.22% on Friday, hitting $115.31. The stock had a trading volume of 1,141,120 shares. The firm has a market cap of $33.24 billion, a price-to-earnings ratio of 11.10 and a beta of 1.07. The company’s 50 day moving average price is $117.06 and its 200 day moving average price is $115.08. Travelers Companies Inc has a 52-week low of $97.18 and a 52-week high of $119.32.
Travelers Companies (NYSE:TRV) last posted its quarterly earnings data on Thursday, July 21st. The company reported $2.24 EPS for the quarter, topping the consensus estimate of $2.19 by $0.05. The firm earned $6.79 billion during the quarter, compared to analyst estimates of $6.37 billion. Travelers Companies had a return on equity of 13.06% and a net margin of 11.70%. Travelers Companies’s revenue was up 2.3% on a year-over-year basis. During the same period in the prior year, the business posted $2.52 EPS. Analysts expect that Travelers Companies Inc will post $9.51 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 30th. Shareholders of record on Friday, September 9th will be paid a $0.67 dividend. The ex-dividend date of this dividend is Wednesday, September 7th. This represents a $2.68 dividend on an annualized basis and a yield of 2.32%. Travelers Companies’s payout ratio is presently 25.92%.
Several equities research analysts recently issued reports on TRV shares. Macquarie reissued an “underperform” rating and set a $92.00 price objective on shares of Travelers Companies in a research note on Wednesday, June 8th. Citigroup Inc. reissued a “neutral” rating on shares of Travelers Companies in a research note on Tuesday, June 21st. Bank of America Corp. raised Travelers Companies from a “neutral” rating to a “buy” rating and set a $127.00 price objective for the company in a research note on Tuesday, June 28th. They noted that the move was a valuation call. Zacks Investment Research lowered Travelers Companies from a “hold” rating to a “sell” rating in a research note on Wednesday, June 29th. Finally, BMO Capital Markets reissued a “market perform” rating and set a $120.00 price objective (up previously from $117.00) on shares of Travelers Companies in a research note on Tuesday, July 12th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and four have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $117.45.
In other Travelers Companies news, Vice Chairman William H. Heyman sold 4,246 shares of the stock in a transaction on Wednesday, August 31st. The stock was sold at an average price of $118.98, for a total value of $505,189.08. Following the completion of the sale, the insider now owns 231,500 shares in the company, valued at approximately $27,543,870. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Andy F. Bessette sold 8,554 shares of the stock in a transaction on Tuesday, July 26th. The stock was sold at an average price of $117.58, for a total value of $1,005,779.32. Following the completion of the sale, the executive vice president now owns 14,659 shares of the company’s stock, valued at approximately $1,723,605.22. The disclosure for this sale can be found here. 1.34% of the stock is owned by company insiders.
Travelers Companies Company Profile
The Travelers Companies, Inc is a holding company. The Company, through its subsidiaries, is engaged in providing a range of commercial and personal property and casualty insurance products and services to businesses, government units, associations and individuals. It operates through three segments: Business and International Insurance; Bond & Specialty Insurance, and Personal Insurance.
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