Sawtooth Solutions LLC reduced its stake in shares of Travelers Companies Inc (NYSE:TRV) by 42.8% during the 1st quarter, HoldingsChannel reports. The firm owned 1,675 shares of the insurance provider’s stock after selling 1,253 shares during the period. Sawtooth Solutions LLC’s holdings in Travelers Companies were worth $230,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc raised its position in shares of Travelers Companies by 0.3% in the third quarter. Vanguard Group Inc now owns 22,074,825 shares of the insurance provider’s stock valued at $2,863,326,000 after buying an additional 65,931 shares during the last quarter. First Mercantile Trust Co. acquired a new position in Travelers Companies during the fourth quarter worth approximately $134,000. Dupont Capital Management Corp increased its position in Travelers Companies by 29.9% during the fourth quarter. Dupont Capital Management Corp now owns 4,131 shares of the insurance provider’s stock worth $495,000 after purchasing an additional 951 shares during the last quarter. Transamerica Financial Advisors Inc. increased its position in Travelers Companies by 401.5% during the fourth quarter. Transamerica Financial Advisors Inc. now owns 331 shares of the insurance provider’s stock worth $40,000 after purchasing an additional 265 shares during the last quarter. Finally, Capital Investment Advisory Services LLC acquired a new position in Travelers Companies during the fourth quarter worth approximately $65,000. 80.45% of the stock is currently owned by institutional investors.
TRV has been the subject of several research analyst reports. Zacks Investment Research raised shares of Travelers Companies from a “sell” rating to a “buy” rating and set a $151.00 price target for the company in a research report on Tuesday, March 26th. Barclays upped their price target on shares of Travelers Companies from $145.00 to $160.00 and gave the stock an “overweight” rating in a research report on Monday, April 1st. UBS Group upped their price target on shares of Travelers Companies from $129.00 to $135.00 and gave the stock a “neutral” rating in a research report on Tuesday, April 9th. Royal Bank of Canada reaffirmed a “neutral” rating and set a $145.00 price target on shares of Travelers Companies in a research report on Thursday, April 18th. Finally, MKM Partners upped their price target on shares of Travelers Companies to $140.00 and gave the stock a “neutral” rating in a research report on Monday, April 22nd. One research analyst has rated the stock with a sell rating, eleven have given a hold rating and two have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $142.31.
Travelers Companies (NYSE:TRV) last released its quarterly earnings data on Thursday, April 18th. The insurance provider reported $2.83 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.76 by $0.07. The company had revenue of $6.86 billion during the quarter, compared to the consensus estimate of $6.94 billion. Travelers Companies had a net margin of 8.64% and a return on equity of 10.86%. Travelers Companies’s revenue for the quarter was up 4.9% on a year-over-year basis. During the same period in the previous year, the firm earned $2.46 earnings per share. Research analysts anticipate that Travelers Companies Inc will post 11.11 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Monday, June 10th will be paid a $0.82 dividend. The ex-dividend date of this dividend is Friday, June 7th. This is an increase from Travelers Companies’s previous quarterly dividend of $0.77. This represents a $3.28 annualized dividend and a dividend yield of 2.19%. Travelers Companies’s dividend payout ratio is 36.69%.
In other news, Vice Chairman William H. Heyman sold 2,000 shares of the company’s stock in a transaction on Friday, April 26th. The shares were sold at an average price of $140.00, for a total value of $280,000.00. Following the completion of the transaction, the insider now directly owns 241,745 shares in the company, valued at $33,844,300. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Vice Chairman Jay S. Benet sold 60,979 shares of the company’s stock in a transaction on Tuesday, April 23rd. The shares were sold at an average price of $137.46, for a total transaction of $8,382,173.34. Following the completion of the transaction, the insider now owns 146,845 shares of the company’s stock, valued at $20,185,313.70. The disclosure for this sale can be found here. Insiders sold 211,860 shares of company stock valued at $30,020,402 over the last 90 days. Insiders own 0.73% of the company’s stock.
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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.
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