Wagner Bowman Management Corp decreased its position in The Travelers Cos. (NYSE:TRV) by 1.5% during the second quarter, Holdings Channel reports. The firm owned 16,703 shares of the company’s stock after selling 250 shares during the period. Wagner Bowman Management Corp’s holdings in The Travelers Cos. were worth $1,988,000 as of its most recent filing with the SEC.
Other institutional investors also recently bought and sold shares of the company. 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 worth $99,875,000 after buying an additional 23,369 shares during the last quarter. Legacy Private Trust Co. boosted its stake in shares of The Travelers Cos. by 4.6% in the second quarter. Legacy Private Trust Co. now owns 60,095 shares of the company’s stock worth $7,154,000 after buying an additional 2,616 shares during the last quarter. Zurich Insurance Group Ltd FI acquired a new stake in shares of The Travelers Cos. during the first quarter worth approximately $5,690,000. First Republic Investment Management Inc. boosted its stake in shares of The Travelers Cos. by 15.2% in the first quarter. First Republic Investment Management Inc. now owns 512,899 shares of the company’s stock worth $59,860,000 after buying an additional 67,765 shares during the last quarter. Finally, Norges Bank acquired a new stake in shares of The Travelers Cos. during the fourth quarter worth approximately $54,470,000. 80.20% of the stock is currently owned by institutional investors and hedge funds.
The Travelers Cos. (NYSE:TRV) traded down 0.26% on Tuesday, reaching $114.79. 1,080,903 shares of the company traded hands. The Travelers Cos. has a 52-week low of $97.18 and a 52-week high of $119.32. The firm has a 50 day moving average price of $117.20 and a 200 day moving average price of $115.02. The stock has a market capitalization of $33.09 billion, a price-to-earnings ratio of 11.05 and a beta of 1.07.
The Travelers Cos. (NYSE:TRV) last issued its quarterly earnings results on Thursday, July 21st. The company reported $2.24 EPS for the quarter, topping the 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 period in the previous year, the business earned $2.52 earnings per share. The Travelers Cos.’s revenue for the quarter was up 2.3% compared to the same quarter last year. Equities research analysts predict that The Travelers Cos. 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 given a $0.67 dividend. This represents a $2.68 annualized dividend and a yield of 2.33%. The ex-dividend date is Wednesday, September 7th. The Travelers Cos.’s dividend payout ratio (DPR) is presently 25.92%.
A number of equities research analysts recently commented on the stock. Credit Suisse Group AG set a $111.00 price objective on shares of The Travelers Cos. and gave the company a “hold” rating in a research note on Monday, September 12th. Zacks Investment Research raised shares of The Travelers Cos. from a “sell” rating to a “hold” rating in a research note on Wednesday, August 31st. RBC Capital Markets reissued an “outperform” rating and issued a $125.00 price objective (up from $120.00) on shares of The Travelers Cos. in a research note on Sunday, July 24th. Royal Bank Of Canada increased their price objective on shares of The Travelers Cos. from $120.00 to $125.00 and gave the company an “outperform” rating in a research note on Friday, July 22nd. Finally, BMO Capital Markets reissued a “market perform” rating and issued a $120.00 price objective (up from $117.00) on shares of The Travelers Cos. in a research note on Tuesday, July 12th. 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 company’s stock. The stock presently has an average rating of “Hold” and an average target price of $117.45.
In related news, CFO Jay S. Benet sold 5,797 shares of The Travelers Cos. stock in a transaction dated Monday, June 27th. The stock was sold at an average price of $109.89, for a total value of $637,032.33. Following the transaction, the chief financial officer now owns 71,352 shares of the company’s stock, valued at approximately $7,840,871.28. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Andy F. Bessette sold 8,554 shares of The Travelers Cos. stock in a transaction dated 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 approximately $1,723,605.22. The disclosure for this sale can be found here. 1.34% of the stock is currently 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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