First Trust Advisors LP grew its position in The Travelers Companies, Inc. (NYSE:TRV) by 10.8% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 442,419 shares of the insurance provider’s stock after acquiring an additional 43,027 shares during the period. First Trust Advisors LP owned 0.16% of The Travelers Companies worth $55,979,000 at the end of the most recent reporting period.
Other hedge funds also recently bought and sold shares of the company. State of Alaska Department of Revenue bought a new stake in shares of The Travelers Companies during the 1st quarter valued at $314,000. Nationwide Fund Advisors raised its position in shares of The Travelers Companies by 15.0% during the 1st quarter. Nationwide Fund Advisors now owns 91,597 shares of the insurance provider’s stock valued at $11,041,000 after acquiring an additional 11,921 shares during the last quarter. Russell Investments Group Ltd. raised its position in shares of The Travelers Companies by 17.9% during the 1st quarter. Russell Investments Group Ltd. now owns 523,045 shares of the insurance provider’s stock valued at $63,060,000 after acquiring an additional 79,232 shares during the last quarter. IFP Advisors Inc raised its position in shares of The Travelers Companies by 5.2% during the 1st quarter. IFP Advisors Inc now owns 10,169 shares of the insurance provider’s stock valued at $1,226,000 after acquiring an additional 501 shares during the last quarter. Finally, Breton Hill Capital Ltd. bought a new stake in shares of The Travelers Companies during the 1st quarter valued at $277,000. Hedge funds and other institutional investors own 77.55% of the company’s stock.
The Travelers Companies, Inc. (NYSE:TRV) traded up 0.62% on Friday, reaching $120.70. 3,062,500 shares of the company’s stock traded hands. The company’s 50 day moving average is $125.15 and its 200-day moving average is $123.83. The stock has a market cap of $33.31 billion, a price-to-earnings ratio of 12.02 and a beta of 1.21. 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 announced its quarterly earnings results on Thursday, July 20th. The insurance provider reported $1.92 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.07 by ($0.15). The company had revenue of $6.35 billion for the quarter, compared to analysts’ expectations of $6.31 billion. The Travelers Companies had a net margin of 10.15% and a return on equity of 11.68%. The business’s revenue was up 4.7% compared to the same quarter last year. During the same period in the previous year, the business earned $2.20 EPS. Equities analysts expect that The Travelers Companies, Inc. will post $7.64 EPS for the current year.
The Travelers Companies announced that its Board of Directors has authorized a stock repurchase program on Monday, September 11th that allows the company to repurchase outstanding shares. This repurchase authorization allows the insurance provider to reacquire shares of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s board believes its stock is undervalued.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Friday, September 8th will be issued a $0.72 dividend. This represents a $2.88 dividend on an annualized basis and a dividend yield of 2.39%. The ex-dividend date is Thursday, September 7th. The Travelers Companies’s payout ratio is 28.77%.
Several brokerages have commented on TRV. Zacks Investment Research upgraded shares of The Travelers Companies from a “sell” rating to a “hold” rating in a research report on Thursday. Wells Fargo & Company reissued a “hold” rating and issued a $125.00 price target on shares of The Travelers Companies in a report on Tuesday. Credit Suisse Group decreased their price target on shares of The Travelers Companies from $128.00 to $125.00 and set a “neutral” rating for the company in a report on Tuesday. Buckingham Research assumed coverage on shares of The Travelers Companies in a report on Monday. They issued a “buy” rating and a $136.00 price target for the company. Finally, ValuEngine raised shares of The Travelers Companies from a “hold” rating to a “buy” rating in a research note on Friday, September 1st. Five analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have given a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $126.26.
In other news, Vice Chairman William H. Heyman sold 24,000 shares of The Travelers Companies stock in a transaction that occurred on Tuesday, July 25th. The shares were sold at an average price of $126.64, for a total transaction of $3,039,360.00. Following the sale, the insider now owns 253,744 shares in the company, valued at $32,134,140.16. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Vice Chairman Jay S. Benet sold 5,518 shares of The Travelers Companies stock in a transaction that occurred on Monday, June 26th. The shares were sold at an average price of $127.49, for a total transaction of $703,489.82. Following the sale, the insider now owns 82,824 shares in the company, valued at approximately $10,559,231.76. The disclosure for this sale can be found here. In the last three months, insiders sold 150,395 shares of company stock worth $19,249,559. 0.82% of the stock is currently owned by insiders.
The Travelers Companies Profile
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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