Watch Point Trust Co lifted its stake in Travelers Companies Inc (NYSE:TRV) by 12.0% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 25,310 shares of the insurance provider’s stock after acquiring an additional 2,715 shares during the period. Travelers Companies comprises about 2.1% of Watch Point Trust Co’s holdings, making the stock its 19th biggest position. Watch Point Trust Co’s holdings in Travelers Companies were worth $3,785,000 at the end of the most recent reporting period.
Other institutional investors also recently made changes to their positions in the company. BlackRock Inc. raised its position in Travelers Companies by 7.3% during the 1st quarter. BlackRock Inc. now owns 22,604,259 shares of the insurance provider’s stock worth $3,100,401,000 after buying an additional 1,528,327 shares during the last quarter. FMR LLC raised its position in Travelers Companies by 9.4% during the 1st quarter. FMR LLC now owns 10,500,482 shares of the insurance provider’s stock worth $1,440,247,000 after buying an additional 904,028 shares during the last quarter. FIL Ltd raised its position in Travelers Companies by 44.8% during the 1st quarter. FIL Ltd now owns 1,450,421 shares of the insurance provider’s stock worth $198,939,000 after buying an additional 448,948 shares during the last quarter. Thoroughbred Financial Services LLC raised its position in Travelers Companies by 16,739.9% during the 2nd quarter. Thoroughbred Financial Services LLC now owns 424,196 shares of the insurance provider’s stock worth $42,420,000 after buying an additional 421,677 shares during the last quarter. Finally, Victory Capital Management Inc. raised its position in Travelers Companies by 23.0% during the 1st quarter. Victory Capital Management Inc. now owns 1,940,150 shares of the insurance provider’s stock worth $266,111,000 after buying an additional 362,384 shares during the last quarter. 80.72% of the stock is owned by hedge funds and other institutional investors.
In other news, EVP Diane D. Bengston sold 6,899 shares of the firm’s stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $147.53, for a total transaction of $1,017,809.47. Following the sale, the executive vice president now owns 11,746 shares of the company’s stock, valued at approximately $1,732,887.38. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Michael Frederick Klein sold 3,545 shares of the firm’s stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $147.41, for a total transaction of $522,568.45. The disclosure for this sale can be found here. Insiders have sold a total of 32,944 shares of company stock worth $4,892,878 in the last ninety days. Corporate insiders own 0.73% of the company’s stock.
TRV has been the subject of a number of recent research reports. Keefe, Bruyette & Woods lowered shares of Travelers Companies from an “outperform” rating to a “market perform” rating and set a $153.00 price target for the company. in a research report on Wednesday, June 5th. MKM Partners raised 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. Deutsche Bank lowered shares of Travelers Companies from a “hold” rating to a “sell” rating and set a $147.11 price target for the company. in a research report on Thursday, June 27th. Royal Bank of Canada raised their price target on shares of Travelers Companies to $160.00 and gave the stock a “sector perform” rating in a research report on Wednesday, July 24th. Finally, Barclays set a $177.00 price target on shares of Travelers Companies and gave the stock a “buy” rating in a research report on Monday. Two analysts have rated the stock with a sell rating, ten have given a hold rating and two have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $148.78.
Shares of NYSE TRV traded up $1.94 during midday trading on Thursday, reaching $145.42. 446,756 shares of the stock were exchanged, compared to its average volume of 1,316,677. The company has a market capitalization of $38.10 billion, a price-to-earnings ratio of 16.27, a price-to-earnings-growth ratio of 1.39 and a beta of 0.94. Travelers Companies Inc has a twelve month low of $111.08 and a twelve month high of $155.09. The firm has a 50-day moving average price of $150.14. The company has a current ratio of 0.38, a quick ratio of 0.38 and a debt-to-equity ratio of 0.26.
Travelers Companies (NYSE:TRV) last issued its quarterly earnings data on Tuesday, July 23rd. The insurance provider reported $2.02 EPS for the quarter, missing analysts’ consensus estimates of $2.32 by ($0.30). The firm had revenue of $6.99 billion for the quarter, compared to analyst estimates of $7.03 billion. Travelers Companies had a return on equity of 10.73% and a net margin of 8.65%. Travelers Companies’s revenue for the quarter was up 4.4% compared to the same quarter last year. During the same period in the previous year, the business earned $1.81 EPS. On average, analysts forecast that Travelers Companies Inc will post 10.63 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Tuesday, September 10th will be paid a dividend of $0.82 per share. The ex-dividend date is Monday, September 9th. This represents a $3.28 dividend on an annualized basis and a dividend yield of 2.26%. Travelers Companies’s payout ratio is 36.69%.
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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