Bank of Stockton decreased its holdings in Travelers Companies Inc (NYSE:TRV) by 23.2% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 9,034 shares of the insurance provider’s stock after selling 2,735 shares during the quarter. Bank of Stockton’s holdings in Travelers Companies were worth $1,171,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Hartford Financial Management Inc. acquired a new position in Travelers Companies in the 2nd quarter worth about $205,000. Nuance Investments LLC raised its holdings in Travelers Companies by 16.2% in the 2nd quarter. Nuance Investments LLC now owns 630,719 shares of the insurance provider’s stock worth $77,162,000 after purchasing an additional 88,049 shares during the period. Valeo Financial Advisors LLC acquired a new position in Travelers Companies in the 2nd quarter worth about $464,000. Flagship Harbor Advisors LLC acquired a new position in Travelers Companies in the 2nd quarter worth about $248,000. Finally, Advisor Partners LLC raised its holdings in Travelers Companies by 5.5% in the 2nd quarter. Advisor Partners LLC now owns 11,398 shares of the insurance provider’s stock worth $1,394,000 after purchasing an additional 593 shares during the period. 79.02% of the stock is owned by institutional investors.
In related news, EVP Andy F. Bessette sold 8,892 shares of the stock in a transaction that occurred on Friday, August 17th. The stock was sold at an average price of $130.78, for a total value of $1,162,895.76. Following the completion of the sale, the executive vice president now owns 10,551 shares of the company’s stock, valued at $1,379,859.78. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Vice Chairman Jay S. Benet sold 8,876 shares of the stock in a transaction that occurred on Tuesday, August 21st. The shares were sold at an average price of $132.00, for a total value of $1,171,632.00. Following the completion of the sale, the insider now directly owns 94,176 shares of the company’s stock, valued at approximately $12,431,232. The disclosure for this sale can be found here. 0.80% of the stock is currently owned by company insiders.
Travelers Companies (NYSE:TRV) last posted its quarterly earnings results on Thursday, July 19th. The insurance provider reported $1.81 EPS for the quarter, missing the consensus estimate of $2.43 by ($0.62). Travelers Companies had a net margin of 6.89% and a return on equity of 8.84%. The company had revenue of $7.44 billion during the quarter, compared to analyst estimates of $7.35 billion. As a group, equities research analysts anticipate that Travelers Companies Inc will post 9.95 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Friday, September 28th. Investors of record on Monday, September 10th were issued a $0.77 dividend. The ex-dividend date of this dividend was Friday, September 7th. This represents a $3.08 annualized dividend and a dividend yield of 2.34%. Travelers Companies’s dividend payout ratio is presently 42.31%.
A number of equities analysts have commented on TRV shares. Zacks Investment Research cut Travelers Companies from a “hold” rating to a “sell” rating in a report on Wednesday, September 19th. Wells Fargo & Co reissued a “hold” rating and set a $142.00 target price on shares of Travelers Companies in a report on Thursday, July 19th. B. Riley increased their target price on Travelers Companies from $118.00 to $136.00 and gave the company a “neutral” rating in a report on Tuesday, August 7th. Sandler O’Neill reissued a “hold” rating and set a $130.00 target price on shares of Travelers Companies in a report on Friday, July 13th. Finally, Credit Suisse Group started coverage on Travelers Companies in a report on Tuesday, August 7th. They set a “neutral” rating and a $141.00 target price for the company. Three equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and five have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $137.93.
Travelers Companies Profile
The Travelers Companies, Inc, through its subsidiaries, provides a range of commercial and personal property, and casualty insurance products and services to businesses, government units, associations, and individuals in the United states and internationally. The company operates through three segments: Business Insurance, Bond & Specialty Insurance, and Personal Insurance.
Featured Article: Earnings Reports
Want to see what other hedge funds are holding TRV? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Travelers Companies Inc (NYSE:TRV).
Receive News & Ratings for Travelers Companies Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Travelers Companies and related companies with MarketBeat.com's FREE daily email newsletter.