Parsec Financial Management Inc. lowered its stake in The Travelers Cos. (NYSE:TRV) by 2.0% during the second quarter, Holdings Channel reports. The institutional investor owned 88,530 shares of the company’s stock after selling 1,840 shares during the period. Parsec Financial Management Inc.’s holdings in The Travelers Cos. were worth $10,539,000 at the end of the most recent reporting period.
Other hedge funds have also recently made changes to their positions in the company. Bank of Montreal Can purchased a new stake in shares of The Travelers Cos. during the second quarter valued at $374,228,000. UBS Asset Management Americas Inc. boosted its stake in shares of The Travelers Cos. by 32.7% in the first quarter. UBS Asset Management Americas Inc. now owns 2,236,907 shares of the company’s stock valued at $261,070,000 after buying an additional 551,568 shares in the last quarter. Marathon Asset Management LLP boosted its stake in shares of The Travelers Cos. by 2.0% in the second quarter. Marathon Asset Management LLP now owns 1,138,351 shares of the company’s stock valued at $135,507,000 after buying an additional 21,815 shares in the last quarter. James Investment Research Inc. boosted its stake in shares of The Travelers Cos. by 2.9% in the second quarter. James Investment Research Inc. now owns 839,004 shares of the company’s stock valued at $99,875,000 after buying an additional 23,369 shares in the last quarter. Finally, Robeco Institutional Asset Management B.V. boosted its stake in shares of The Travelers Cos. by 0.3% in the second quarter. Robeco Institutional Asset Management B.V. now owns 812,015 shares of the company’s stock valued at $96,664,000 after buying an additional 2,267 shares in the last quarter. 80.13% of the stock is owned by hedge funds and other institutional investors.
The Travelers Cos. (NYSE:TRV) traded up 1.43% during midday trading on Friday, hitting $114.80. The stock had a trading volume of 1,226,762 shares. The stock has a market capitalization of $33.09 billion, a PE ratio of 11.05 and a beta of 1.14. The Travelers Cos. has a 1-year low of $101.23 and a 1-year high of $119.32. The stock’s 50-day moving average is $115.93 and its 200-day moving average is $115.10.
The Travelers Cos. (NYSE:TRV) last issued its earnings results on Thursday, July 21st. The company reported $2.24 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.19 by $0.05. The business earned $6.79 billion during the quarter, compared to the consensus estimate of $6.37 billion. The Travelers Cos. had a return on equity of 13.06% and a net margin of 11.70%. The firm’s revenue for the quarter was up 2.3% on a year-over-year basis. During the same period in the previous year, the company posted $2.52 earnings per share. On average, equities research analysts anticipate that The Travelers Cos. will post $9.54 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Friday, September 30th. Shareholders of record on Friday, September 9th were issued a $0.67 dividend. The ex-dividend date of this dividend was Wednesday, September 7th. This represents a $2.68 dividend on an annualized basis and a yield of 2.37%. The Travelers Cos.’s payout ratio is currently 25.92%.
A number of brokerages have recently commented on TRV. Zacks Investment Research raised The Travelers Cos. from a “sell” rating to a “hold” rating in a research note on Wednesday, August 31st. BMO Capital Markets reaffirmed a “market perform” rating and issued a $120.00 price target (up from $117.00) on shares of The Travelers Cos. in a research note on Tuesday, July 12th. RBC Capital Markets reaffirmed an “outperform” rating and issued a $125.00 price target (up from $120.00) on shares of The Travelers Cos. in a research note on Sunday, July 24th. Credit Suisse Group AG reaffirmed a “hold” rating and issued a $111.00 price target on shares of The Travelers Cos. in a research note on Tuesday, August 23rd. Finally, Royal Bank Of Canada upped their price target on The Travelers Cos. from $120.00 to $125.00 and gave the company an “outperform” rating in a research note on Friday, July 22nd. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and four have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $116.75.
In other The Travelers Cos. news, Vice Chairman William H. Heyman sold 4,000 shares of The Travelers Cos. stock in a transaction that occurred on Tuesday, July 26th. The stock was sold at an average price of $117.88, for a total value of $471,520.00. Following the completion of the sale, the insider now directly owns 236,254 shares in the company, valued at $27,849,621.52. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Jay S. Benet sold 5,797 shares of The Travelers Cos. stock in a transaction that occurred on Monday, July 11th. The stock was sold at an average price of $118.12, for a total value of $684,741.64. Following the completion of the sale, the chief financial officer now owns 71,352 shares of the company’s stock, valued at $8,428,098.24. The disclosure for this sale can be found here. 1.34% of the stock is owned by company insiders.
The Travelers Cos. 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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