ProVise Management Group LLC acquired a new position in shares of Travelers Companies Inc (NYSE:TRV) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 2,407 shares of the insurance provider’s stock, valued at approximately $312,000.
Other large investors also recently modified their holdings of the company. Moody Aldrich Partners LLC bought a new stake in Travelers Companies during the 2nd quarter worth about $74,138,000. Squar Milner Financial Services LLC acquired a new position in Travelers Companies during the 2nd quarter valued at about $100,000. Landaas & Co. WI ADV acquired a new position in Travelers Companies during the 2nd quarter valued at about $108,000. Acadian Asset Management LLC acquired a new position in Travelers Companies during the 2nd quarter valued at about $112,000. Finally, ELM Advisors LLC acquired a new position in Travelers Companies during the 3rd quarter valued at about $130,000. 79.33% of the stock is currently owned by hedge funds and other institutional investors.
A number of research analysts have issued reports on the stock. TheStreet downgraded shares of Travelers Companies from a “b” rating to a “c+” rating in a research report on Thursday, July 19th. MKM Partners cut their target price on shares of Travelers Companies to $125.00 and set a “neutral” rating on the stock in a research report on Tuesday, July 24th. Zacks Investment Research downgraded shares of Travelers Companies from a “hold” rating to a “sell” rating in a research report on Wednesday, September 19th. B. Riley upped their target price on shares of Travelers Companies from $118.00 to $136.00 and gave the company a “neutral” rating in a research report on Tuesday, August 7th. Finally, Citigroup upped their target price on shares of Travelers Companies from $144.00 to $149.00 and gave the company a “buy” rating in a research report on Monday, July 30th. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and four have given a buy rating to the company. Travelers Companies has a consensus rating of “Hold” and a consensus target price of $136.36.
Travelers Companies (NYSE:TRV) last announced its quarterly earnings results on Thursday, October 18th. The insurance provider reported $2.54 earnings per share for the quarter, beating analysts’ consensus estimates of $2.26 by $0.28. The business had revenue of $6.88 billion for the quarter, compared to the consensus estimate of $6.83 billion. Travelers Companies had a net margin of 8.18% and a return on equity of 10.86%. Travelers Companies’s revenue for the quarter was up 5.5% on a year-over-year basis. During the same period last year, the company posted $0.91 EPS. On average, analysts forecast that Travelers Companies Inc will post 9.88 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Monday, December 31st. Investors of record on Monday, December 10th will be given a $0.77 dividend. The ex-dividend date of this dividend is Friday, December 7th. This represents a $3.08 dividend on an annualized basis and a dividend yield of 2.35%. Travelers Companies’s dividend payout ratio is 42.31%.
In related news, 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 sale, the insider now directly owns 94,176 shares in the company, valued at approximately $12,431,232. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Andy F. Bessette sold 8,892 shares of the stock in a transaction that occurred on Friday, August 17th. The shares were sold at an average price of $130.78, for a total transaction of $1,162,895.76. Following the completion of the sale, the executive vice president now owns 10,551 shares in the company, valued at $1,379,859.78. The disclosure for this sale can be found here. Company insiders own 0.80% of the company’s stock.
About Travelers Companies
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.
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