Advisor Partners LLC raised its stake in shares of Travelers Companies Inc (NYSE:TRV) by 11.5% in the third quarter, HoldingsChannel reports. The institutional investor owned 17,590 shares of the insurance provider’s stock after purchasing an additional 1,818 shares during the period. Advisor Partners LLC’s holdings in Travelers Companies were worth $2,615,000 as of its most recent SEC filing.
Other large investors also recently modified their holdings of the company. First Trust Advisors LP boosted its holdings in Travelers Companies by 4.6% in the first quarter. First Trust Advisors LP now owns 393,711 shares of the insurance provider’s stock valued at $54,001,000 after purchasing an additional 17,258 shares during the period. Marshall Wace North America L.P. purchased a new position in Travelers Companies in the first quarter valued at $398,000. Princeton Global Asset Management LLC purchased a new position in Travelers Companies in the first quarter valued at $27,000. Advisory Services Network LLC boosted its holdings in Travelers Companies by 3.1% in the first quarter. Advisory Services Network LLC now owns 12,222 shares of the insurance provider’s stock valued at $1,677,000 after purchasing an additional 366 shares during the period. Finally, M Holdings Securities Inc. purchased a new stake in Travelers Companies during the 1st quarter worth about $269,000. 81.41% of the stock is owned by institutional investors.
In other news, Director Philip T. Ruegger III bought 700 shares of Travelers Companies stock in a transaction dated Monday, August 19th. The stock was acquired at an average cost of $147.49 per share, with a total value of $103,243.00. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Vice Chairman Jay S. Benet sold 21,972 shares of the business’s stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $146.59, for a total value of $3,220,875.48. Following the completion of the sale, the insider now directly owns 94,588 shares of the company’s stock, valued at $13,865,654.92. The disclosure for this sale can be found here. Insiders sold a total of 56,566 shares of company stock valued at $8,347,056 over the last three months. Company insiders own 0.73% of the company’s stock.
Travelers Companies (NYSE:TRV) last posted its earnings results on Tuesday, July 23rd. The insurance provider reported $2.02 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $2.32 by ($0.30). Travelers Companies had a net margin of 8.65% and a return on equity of 10.73%. The firm had revenue of $6.99 billion during the quarter, compared to analysts’ expectations of $7.03 billion. During the same period in the previous year, the firm posted $1.81 earnings per share. The firm’s revenue for the quarter was up 4.4% on a year-over-year basis. Analysts predict that Travelers Companies Inc will post 10.61 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Tuesday, September 10th were issued a $0.82 dividend. This represents a $3.28 annualized dividend and a dividend yield of 2.31%. The ex-dividend date of this dividend was Monday, September 9th. Travelers Companies’s payout ratio is currently 36.69%.
TRV has been the subject of a number of recent analyst reports. ValuEngine downgraded Travelers Companies from a “buy” rating to a “hold” rating in a report on Thursday, August 1st. Deutsche Bank downgraded Travelers Companies from a “hold” rating to a “sell” rating and set a $147.11 price target for the company. in a report on Thursday, June 27th. Barclays decreased their price target on Travelers Companies from $177.00 to $174.00 and set an “overweight” rating for the company in a report on Wednesday, October 2nd. UBS Group lifted their price target on Travelers Companies from $146.00 to $152.00 and gave the stock a “neutral” rating in a report on Wednesday, July 10th. Finally, Bank of America downgraded Travelers Companies from a “buy” rating to a “neutral” rating and set a $156.00 price target for the company. in a report on Wednesday, September 18th. Three analysts have rated the stock with a sell rating, eleven have assigned a hold rating and two have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $147.67.
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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