Strs Ohio lowered its stake in The Travelers Cos. (NYSE:TRV) by 1.2% during the second quarter, Holdings Channel reports. The firm owned 187,986 shares of the company’s stock after selling 2,230 shares during the period. Strs Ohio’s holdings in The Travelers Cos. were worth $22,377,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently modified their holdings of TRV. Ledyard National Bank increased its position in 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 increased its position in 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 increased its position in 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. increased its position in 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 acquired a new position in The Travelers Cos. during the second quarter worth about $204,000. Institutional investors and hedge funds own 80.13% of the company’s stock.
The Travelers Cos. (NYSE:TRV) traded up 0.41% during mid-day trading on Tuesday, reaching $114.41. The company had a trading volume of 1,758,557 shares. The Travelers Cos. has a one year low of $97.18 and a one year high of $119.32. The firm’s 50-day moving average is $116.82 and its 200-day moving average is $115.16. The firm has a market capitalization of $32.98 billion, a P/E ratio of 11.01 and a beta of 1.07.
The Travelers Cos. (NYSE:TRV) last announced 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 return on equity of 13.06% and a net margin of 11.70%. The firm had revenue of $6.79 billion for the quarter, compared to analyst estimates of $6.37 billion. During the same period last year, the firm posted $2.52 earnings per share. The business’s revenue for the quarter was up 2.3% on a year-over-year basis. On average, equities research analysts anticipate that The Travelers Cos. will post $9.51 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, September 30th. Stockholders of record on Friday, September 9th will be paid a dividend of $0.67 per share. This represents a $2.68 dividend on an annualized basis and a dividend yield of 2.34%. The ex-dividend date is Wednesday, September 7th. The Travelers Cos.’s payout ratio is 25.92%.
A number of research analysts have issued reports on TRV shares. Credit Suisse Group AG set a $111.00 target price on shares of The Travelers Cos. and gave the company a “hold” rating in a research report on Monday, September 12th. Bank of America Corp. upgraded shares of The Travelers Cos. from a “neutral” rating to a “buy” rating and set a $127.00 target price on the stock in a research report on Tuesday, June 28th. They noted that the move was a valuation call. Macquarie restated an “underperform” rating and set a $92.00 target price on shares of The Travelers Cos. in a research report on Wednesday, June 8th. BMO Capital Markets restated a “market perform” rating and set a $120.00 target price (up from $117.00) on shares of The Travelers Cos. in a research report on Tuesday, July 12th. Finally, Zacks Investment Research cut The Travelers Cos. from a “hold” rating to a “sell” rating in a research note on Wednesday, June 29th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and four have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $117.45.
In related news, Vice Chairman William H. Heyman sold 4,246 shares of The Travelers Cos. stock in a transaction that occurred 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 transaction, the insider now directly owns 231,500 shares of the company’s stock, valued at $27,543,870. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Andy F. Bessette sold 8,554 shares of The Travelers Cos. stock in a transaction that occurred on Tuesday, July 26th. The stock was sold at an average price of $117.58, for a total value of $1,005,779.32. Following the completion of the transaction, the executive vice president now directly owns 14,659 shares in the company, valued at $1,723,605.22. The disclosure for this sale can be found here. Insiders own 1.34% of the company’s stock.
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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