First Citizens Bank & Trust Co. reduced its position in The Travelers Companies, Inc. (NYSE:TRV) by 15.8% during the second quarter, according to its most recent disclosure with the SEC. The firm owned 37,940 shares of the insurance provider’s stock after selling 7,103 shares during the period. First Citizens Bank & Trust Co.’s holdings in The Travelers Companies were worth $4,801,000 as of its most recent SEC filing.
Other institutional investors also recently added to or reduced their stakes in the company. CWM LLC boosted its position in The Travelers Companies by 4.9% in the second quarter. CWM LLC now owns 794 shares of the insurance provider’s stock worth $100,000 after buying an additional 37 shares during the period. Westside Investment Management Inc. boosted its position in The Travelers Companies by 361.1% in the first quarter. Westside Investment Management Inc. now owns 876 shares of the insurance provider’s stock worth $106,000 after buying an additional 686 shares during the period. First Personal Financial Services boosted its position in The Travelers Companies by 133.3% in the first quarter. First Personal Financial Services now owns 889 shares of the insurance provider’s stock worth $107,000 after buying an additional 508 shares during the period. Liberty Capital Management Inc. boosted its position in The Travelers Companies by 434.8% in the second quarter. Liberty Capital Management Inc. now owns 1,230 shares of the insurance provider’s stock worth $154,000 after buying an additional 1,000 shares during the period. Finally, Bartlett & Co. LLC boosted its position in The Travelers Companies by 30.0% in the first quarter. Bartlett & Co. LLC now owns 1,399 shares of the insurance provider’s stock worth $169,000 after buying an additional 323 shares during the period. 78.24% of the stock is owned by institutional investors.
Shares of The Travelers Companies, Inc. (NYSE:TRV) traded down 0.23% during midday trading on Friday, reaching $127.89. The company’s stock had a trading volume of 1,246,905 shares. The stock has a market capitalization of $35.29 billion, a PE ratio of 12.74 and a beta of 1.20. The stock has a 50-day moving average price of $127.31 and a 200 day moving average price of $123.52. The Travelers Companies, Inc. has a 52 week low of $103.45 and a 52 week high of $130.37.
The Travelers Companies (NYSE:TRV) last posted its earnings results on Thursday, July 20th. The insurance provider reported $1.92 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $2.07 by $0.15. The Travelers Companies had a net margin of 10.15% and a return on equity of 11.68%. The company had revenue of $6.35 billion for the quarter, compared to the consensus estimate of $6.31 billion. During the same quarter last year, the business earned $2.20 earnings per share. The Travelers Companies’s quarterly revenue was up 4.7% on a year-over-year basis. Equities analysts forecast that The Travelers Companies, Inc. will post $8.90 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Friday, September 8th will be issued a dividend of $0.72 per share. The ex-dividend date of this dividend is Thursday, September 7th. This represents a $2.88 annualized dividend and a yield of 2.25%. The Travelers Companies’s dividend payout ratio (DPR) is currently 28.77%.
The Travelers Companies announced that its Board of Directors has initiated a stock buyback plan on Thursday, April 20th that allows the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization allows the insurance provider to purchase shares of its stock through open market purchases. Shares repurchase plans are typically an indication that the company’s board believes its stock is undervalued.
A number of research firms have recently weighed in on TRV. Keefe, Bruyette & Woods reissued a “hold” rating and issued a $115.00 price target on shares of The Travelers Companies in a report on Thursday, May 25th. BidaskClub cut The Travelers Companies from a “hold” rating to a “sell” rating in a report on Monday, July 24th. MKM Partners reissued a “neutral” rating and issued a $130.00 price target (up from $115.00) on shares of The Travelers Companies in a report on Wednesday, July 26th. Barclays PLC boosted their price target on The Travelers Companies from $119.00 to $122.00 and gave the stock an “equal weight” rating in a report on Friday, August 11th. Finally, Royal Bank Of Canada reiterated a “buy” rating and issued a $126.00 target price on shares of The Travelers Companies in a research note on Monday, May 22nd. Five equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and six have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $124.01.
In other news, Vice Chairman Jay S. Benet sold 16,566 shares of the firm’s stock in a transaction dated Wednesday, August 9th. The stock was sold at an average price of $130.01, for a total value of $2,153,745.66. Following the sale, the insider now directly owns 93,872 shares of the company’s stock, valued at $12,204,298.72. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Maria Olivo sold 8,186 shares of the firm’s stock in a transaction dated Wednesday, May 31st. The shares were sold at an average price of $124.84, for a total value of $1,021,940.24. Following the completion of the sale, the executive vice president now directly owns 88,697 shares in the company, valued at $11,072,933.48. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 194,303 shares of company stock worth $24,702,936. Corporate insiders own 0.82% of the company’s stock.
About The Travelers Companies
The Travelers Companies, Inc is a holding company. The Company’s segments include Business and International Insurance; Bond & Specialty Insurance, and Personal Insurance. Through its subsidiaries, it provides commercial and personal property and casualty insurance products and services. The Business and International Insurance segment offers property and casualty insurance and insurance related services to its clients, in the United States and in Canada, as well as in the United Kingdom, the Republic of Ireland, Brazil and throughout other parts of the world.
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