Cadence Capital Management LLC raised its position in shares of The Travelers Companies, Inc. (NYSE:TRV) by 0.3% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 49,758 shares of the insurance provider’s stock after acquiring an additional 136 shares during the quarter. Cadence Capital Management LLC’s holdings in The Travelers Companies were worth $6,296,000 at the end of the most recent quarter.
A number of other institutional investors have also recently bought and sold shares of TRV. Pax World Management LLC lifted its holdings in shares of The Travelers Companies by 9.5% during the second quarter. Pax World Management LLC now owns 2,296 shares of the insurance provider’s stock valued at $291,000 after purchasing an additional 200 shares during the last quarter. Peddock Capital Advisors LLC lifted its holdings in shares of The Travelers Companies by 1.8% during the second quarter. Peddock Capital Advisors LLC now owns 8,513 shares of the insurance provider’s stock valued at $1,077,000 after purchasing an additional 153 shares during the last quarter. State Board of Administration of Florida Retirement System raised its holdings in The Travelers Companies by 0.6% in the 2nd quarter. State Board of Administration of Florida Retirement System now owns 427,101 shares of the insurance provider’s stock worth $54,041,000 after acquiring an additional 2,689 shares during the last quarter. Boston Family Office LLC raised its holdings in The Travelers Companies by 1.8% in the 2nd quarter. Boston Family Office LLC now owns 5,223 shares of the insurance provider’s stock worth $661,000 after acquiring an additional 90 shares during the last quarter. Finally, Comprehensive Portfolio Management LLC purchased a new position in The Travelers Companies in the 2nd quarter worth approximately $219,000. 77.48% of the stock is currently owned by institutional investors and hedge funds.
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Shares of The Travelers Companies, Inc. (TRV) opened at 122.04 on Friday. The stock’s 50 day moving average is $124.75 and its 200 day moving average is $123.78. The Travelers Companies, Inc. has a 12 month low of $103.45 and a 12 month high of $130.37. The stock has a market capitalization of $33.68 billion, a PE ratio of 12.15 and a beta of 1.21.
The Travelers Companies (NYSE:TRV) last released its earnings results on Thursday, July 20th. The insurance provider reported $1.92 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $2.07 by ($0.15). The Travelers Companies had a return on equity of 11.68% and a net margin of 10.15%. The company had revenue of $6.35 billion during the quarter, compared to analyst estimates of $6.31 billion. During the same period in the prior year, the business posted $2.20 earnings per share. The Travelers Companies’s revenue was up 4.7% on a year-over-year basis. Analysts anticipate that The Travelers Companies, Inc. will post $7.67 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Friday, September 8th will be given a $0.72 dividend. The ex-dividend date of this dividend is Thursday, September 7th. This represents a $2.88 annualized dividend and a dividend yield of 2.36%. The Travelers Companies’s dividend payout ratio is presently 28.77%.
The Travelers Companies announced that its board has initiated a share repurchase plan on Monday, September 11th that permits the company to buyback outstanding shares. This buyback authorization permits the insurance provider to reacquire shares of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s leadership believes its stock is undervalued.
A number of equities analysts recently weighed in on TRV shares. BidaskClub upgraded shares of The Travelers Companies from a “hold” rating to a “buy” rating in a report on Saturday, June 17th. Bank of America Corporation lowered shares of The Travelers Companies from a “buy” rating to a “neutral” rating and boosted their price objective for the stock from $120.62 to $129.44 in a report on Monday, June 19th. Keefe, Bruyette & Woods reiterated a “hold” rating on shares of The Travelers Companies in a research note on Tuesday, June 20th. Vetr upgraded shares of The Travelers Companies from a “hold” rating to a “buy” rating and set a $132.68 target price for the company in a research note on Tuesday, June 27th. Finally, Morgan Stanley reiterated an “underweight” rating and set a $119.00 target price (up from $112.00) on shares of The Travelers Companies in a research note on Friday, July 7th. Five equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and eight have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $126.18.
In related news, Vice Chairman Jay S. Benet sold 5,518 shares of the firm’s stock in a transaction that occurred on Monday, July 17th. The shares were sold at an average price of $125.66, for a total value of $693,391.88. Following the transaction, the insider now owns 82,824 shares in the company, valued at $10,407,663.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Kenneth Franklin Spence III sold 4,800 shares of the firm’s stock in a transaction that occurred on Monday, August 14th. The shares were sold at an average price of $128.73, for a total transaction of $617,904.00. The disclosure for this sale can be found here. Insiders sold 144,877 shares of company stock worth $18,539,282 in the last 90 days. 0.82% of the stock is currently owned by insiders.
About The Travelers Companies
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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