Genesee Valley Trust Co. cut its position in shares of The Travelers Cos. (NYSE:TRV) by 10.9% during the second quarter, Holdings Channel reports. The fund owned 9,799 shares of the company’s stock after selling 1,202 shares during the period. Genesee Valley Trust Co.’s holdings in The Travelers Cos. were worth $1,166,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Ledyard National Bank boosted its position in shares of The Travelers Cos. by 5.4% in the second quarter. Ledyard National Bank now owns 1,089 shares of the company’s stock worth $130,000 after buying an additional 56 shares during the last quarter. Kanaly Trust Co boosted its position in shares of The Travelers Cos. by 1.4% in the second quarter. Kanaly Trust Co now owns 1,426 shares of the company’s stock worth $170,000 after buying an additional 19 shares during the last quarter. Kistler Tiffany Companies LLC boosted its position in shares of The Travelers Cos. by 53.8% in the second quarter. Kistler Tiffany Companies LLC now owns 1,543 shares of the company’s stock worth $184,000 after buying an additional 540 shares during the last quarter. Daiwa SB Investments Ltd. boosted its position in shares of The Travelers Cos. by 8.2% in the second quarter. Daiwa SB Investments Ltd. now owns 1,720 shares of the company’s stock worth $201,000 after buying an additional 130 shares during the last quarter. Finally, Independence Advisors LLC bought a new position in shares of The Travelers Cos. during the second quarter valued at about $204,000. Institutional investors own 80.12% of the company’s stock.
Shares of The Travelers Cos. (NYSE:TRV) traded up 0.99% during mid-day trading on Wednesday, hitting $115.93. The stock had a trading volume of 1,496,573 shares. The stock’s 50-day moving average is $117.17 and its 200 day moving average is $115.03. The Travelers Cos. has a 1-year low of $97.18 and a 1-year high of $119.32. The firm has a market capitalization of $33.42 billion, a price-to-earnings ratio of 11.16 and a beta of 1.07.
The Travelers Cos. (NYSE:TRV) last posted its quarterly earnings results on Thursday, July 21st. The company reported $2.24 EPS for the quarter, beating the Zacks’ consensus estimate of $2.19 by $0.05. The Travelers Cos. had a net margin of 11.70% and a return on equity of 13.06%. The firm had revenue of $6.79 billion for the quarter, compared to analysts’ expectations of $6.37 billion. During the same quarter in the prior year, the company posted $2.52 earnings per share. The business’s revenue for the quarter was up 2.3% on a year-over-year basis. Equities research analysts predict that The Travelers Cos. will post $9.51 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, September 30th. Investors of record on Friday, September 9th will be issued a $0.67 dividend. This represents a $2.68 annualized dividend and a yield of 2.31%. The ex-dividend date is Wednesday, September 7th. The Travelers Cos.’s dividend payout ratio is currently 25.92%.
TRV has been the subject of several analyst reports. Zacks Investment Research raised The Travelers Cos. from a “sell” rating to a “hold” rating in a research report on Wednesday, August 31st. Bank of America Corp. raised The Travelers Cos. from a “neutral” rating to a “buy” rating and set a $127.00 target price for the company in a research report on Tuesday, June 28th. They noted that the move was a valuation call. Credit Suisse Group AG reaffirmed a “hold” rating and set a $111.00 target price on shares of The Travelers Cos. in a research report on Tuesday, August 23rd. Citigroup Inc. reaffirmed a “neutral” rating on shares of The Travelers Cos. in a research report on Tuesday, June 21st. Finally, Royal Bank Of Canada raised their target price on The Travelers Cos. from $120.00 to $125.00 and gave the stock an “outperform” rating in a research report on Friday, July 22nd. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and four have assigned a buy rating to the stock. The Travelers Cos. presently has a consensus rating of “Hold” and a consensus target price of $117.45.
In related news, CFO Jay S. Benet sold 5,797 shares of the firm’s stock in a transaction that occurred on Monday, June 27th. The shares were sold at an average price of $109.89, for a total value of $637,032.33. Following the sale, the chief financial officer now owns 71,352 shares in the company, valued at $7,840,871.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Douglas K. Russell sold 2,698 shares of the firm’s stock in a transaction that occurred on Monday, July 25th. The stock was sold at an average price of $117.17, for a total transaction of $316,124.66. Following the completion of the sale, the senior vice president now owns 19,727 shares in the company, valued at approximately $2,311,412.59. The disclosure for this sale can be found here. 1.34% of the stock is currently owned by corporate insiders.
About The Travelers Cos.
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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