Candriam Luxembourg S.C.A. Cuts Stake in The Travelers Companies, Inc. (TRV)
Candriam Luxembourg S.C.A. trimmed its position in The Travelers Companies, Inc. (NYSE:TRV) by 27.7% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 61,010 shares of the insurance provider’s stock after selling 23,318 shares during the period. Candriam Luxembourg S.C.A.’s holdings in The Travelers Companies were worth $7,475,000 at the end of the most recent quarter.
Several other institutional investors have also recently modified their holdings of the company. Bessemer Group Inc. lifted its holdings in shares of The Travelers Companies by 21.1% in the third quarter. Bessemer Group Inc. now owns 121,371 shares of the insurance provider’s stock valued at $14,870,000 after purchasing an additional 21,130 shares in the last quarter. GHP Investment Advisors Inc. lifted its holdings in shares of The Travelers Companies by 2.6% in the third quarter. GHP Investment Advisors Inc. now owns 29,099 shares of the insurance provider’s stock valued at $3,565,000 after purchasing an additional 740 shares in the last quarter. Smithfield Trust Co. lifted its holdings in shares of The Travelers Companies by 69.2% in the third quarter. Smithfield Trust Co. now owns 2,183 shares of the insurance provider’s stock valued at $268,000 after purchasing an additional 893 shares in the last quarter. Sandy Spring Bank lifted its holdings in shares of The Travelers Companies by 82.1% in the third quarter. Sandy Spring Bank now owns 1,948 shares of the insurance provider’s stock valued at $239,000 after purchasing an additional 878 shares in the last quarter. Finally, Bradley Foster & Sargent Inc. CT lifted its holdings in shares of The Travelers Companies by 9.5% in the third quarter. Bradley Foster & Sargent Inc. CT now owns 36,165 shares of the insurance provider’s stock valued at $4,431,000 after purchasing an additional 3,151 shares in the last quarter. Institutional investors own 78.36% of the company’s stock.
Shares of The Travelers Companies, Inc. (TRV) traded up $1.01 during mid-day trading on Friday, hitting $135.54. The company had a trading volume of 2,107,100 shares, compared to its average volume of 1,646,049. The company has a current ratio of 0.41, a quick ratio of 0.41 and a debt-to-equity ratio of 0.29. The company has a market capitalization of $37,096.76, a PE ratio of 16.55, a P/E/G ratio of 2.41 and a beta of 1.26. The Travelers Companies, Inc. has a fifty-two week low of $109.10 and a fifty-two week high of $135.71.
The Travelers Companies (NYSE:TRV) last issued its quarterly earnings results on Thursday, October 19th. The insurance provider reported $0.91 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.10 by ($1.19). The company had revenue of $6.66 billion during the quarter, compared to the consensus estimate of $6.46 billion. The Travelers Companies had a net margin of 8.56% and a return on equity of 9.87%. The company’s quarterly revenue was up 4.2% on a year-over-year basis. During the same quarter last year, the firm posted $2.40 earnings per share. equities research analysts predict that The Travelers Companies, Inc. will post 7.23 earnings per share for the current fiscal year.
The Travelers Companies announced that its board has authorized a stock repurchase program on Monday, September 11th that allows the company to buyback shares. This buyback authorization allows the insurance provider to repurchase shares of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board of directors believes its shares are undervalued.
The business also recently declared a quarterly dividend, which will be paid on Friday, December 29th. Investors of record on Monday, December 11th will be paid a $0.72 dividend. This represents a $2.88 annualized dividend and a dividend yield of 2.12%. The ex-dividend date is Friday, December 8th. The Travelers Companies’s dividend payout ratio (DPR) is currently 33.45%.
In related news, EVP Kenneth Franklin Spence III sold 4,800 shares of the business’s stock in a transaction that occurred on Monday, August 14th. The stock was sold at an average price of $128.73, for a total value of $617,904.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.82% of the company’s stock.
TRV has been the topic of a number of research reports. MKM Partners restated a “neutral” rating and issued a $130.00 price target (up from $115.00) on shares of The Travelers Companies in a report on Wednesday, July 26th. Wells Fargo & Company reiterated a “hold” rating and set a $125.00 target price on shares of The Travelers Companies in a report on Tuesday, September 12th. Credit Suisse Group dropped their target price on The Travelers Companies from $128.00 to $125.00 and set a “neutral” rating on the stock in a report on Tuesday, September 12th. B. Riley reiterated a “neutral” rating on shares of The Travelers Companies in a report on Monday, November 6th. Finally, Royal Bank Of Canada upped their target price on The Travelers Companies to $140.00 and gave the stock an “outperform” rating in a report on Friday, October 20th. Five analysts have rated the stock with a sell rating, nine have assigned a hold rating and nine have assigned a buy rating to the stock. The Travelers Companies presently has a consensus rating of “Hold” and a consensus price target of $128.54.
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The Travelers Companies Company 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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