Cullinan Associates Inc. Boosts Position in The Travelers Companies, Inc. (TRV)
Cullinan Associates Inc. increased its position in shares of The Travelers Companies, Inc. (NYSE:TRV) by 17.7% during the second quarter, Holdings Channel reports. The institutional investor owned 23,316 shares of the insurance provider’s stock after buying an additional 3,500 shares during the period. Cullinan Associates Inc.’s holdings in The Travelers Companies were worth $2,950,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in TRV. First Manhattan Co. boosted its stake in shares of The Travelers Companies by 3.9% in the first quarter. First Manhattan Co. now owns 190,036 shares of the insurance provider’s stock worth $21,768,000 after buying an additional 7,216 shares during the last quarter. Teza Capital Management LLC acquired a new stake in shares of The Travelers Companies during the first quarter worth approximately $1,637,000. Lincoln National Corp acquired a new stake in shares of The Travelers Companies during the first quarter worth approximately $275,000. Janney Montgomery Scott LLC boosted its stake in shares of The Travelers Companies by 5.4% in the first quarter. Janney Montgomery Scott LLC now owns 174,890 shares of the insurance provider’s stock worth $21,081,000 after buying an additional 8,909 shares during the last quarter. Finally, Great Lakes Advisors LLC boosted its stake in shares of The Travelers Companies by 50.7% in the first quarter. Great Lakes Advisors LLC now owns 109,810 shares of the insurance provider’s stock worth $13,236,000 after buying an additional 36,923 shares during the last quarter. 78.24% of the stock is owned by hedge funds and other institutional investors.
The Travelers Companies, Inc. (NYSE TRV) traded up 0.52% during mid-day trading on Wednesday, hitting $129.72. 623,633 shares of the stock traded hands. The company has a market cap of $35.80 billion, a P/E ratio of 12.92 and a beta of 1.20. The company’s 50 day moving average is $127.19 and its 200 day moving average is $123.37. The Travelers Companies, Inc. has a 12 month low of $103.45 and a 12 month high of $130.37.
The Travelers Companies (NYSE:TRV) last released its earnings results on Thursday, July 20th. The insurance provider reported $1.92 EPS for the quarter, missing the 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 analysts’ expectations of $6.31 billion. During the same period last year, the firm posted $2.20 EPS. The Travelers Companies’s quarterly revenue was up 4.7% compared to the same quarter last year. On average, analysts expect that The Travelers Companies, Inc. will post $8.90 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Stockholders of record on Friday, September 8th will be issued a $0.72 dividend. This represents a $2.88 annualized dividend and a dividend yield of 2.23%. The ex-dividend date of this dividend is Thursday, September 7th. The Travelers Companies’s dividend payout ratio (DPR) is presently 28.77%.
The Travelers Companies announced that its board has initiated a share buyback plan on Thursday, April 20th that allows the company to buyback $5.00 billion in outstanding shares. This buyback authorization allows the insurance provider to reacquire shares of its stock through open market purchases. Shares buyback plans are typically an indication that the company’s leadership believes its shares are undervalued.
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TRV has been the topic of a number of recent research reports. Argus upgraded shares of The Travelers Companies from a “hold” rating to a “buy” rating and set a $132.00 price target on the stock in a research note on Monday, April 24th. Royal Bank Of Canada restated a “buy” rating and set a $126.00 price target on shares of The Travelers Companies in a research note on Monday, May 22nd. Citigroup Inc. restated a “buy” rating and set a $148.00 price target (down from $150.00) on shares of The Travelers Companies in a research note on Monday, July 24th. Morgan Stanley restated an “underweight” rating and set a $119.00 price target (up from $112.00) on shares of The Travelers Companies in a research note on Friday, July 7th. Finally, Keefe, Bruyette & Woods restated a “hold” rating on shares of The Travelers Companies in a research note on Tuesday, June 20th. Five investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and six have given a buy rating to the stock. The Travelers Companies presently has a consensus rating of “Hold” and a consensus target price of $124.01.
In other news, Vice Chairman William H. Heyman sold 7,000 shares of the business’s stock in a transaction on Thursday, May 25th. The shares were sold at an average price of $123.48, for a total value of $864,360.00. Following the transaction, the insider now owns 246,744 shares of the company’s stock, valued at $30,467,949.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Vice Chairman Jay S. Benet sold 16,566 shares of the business’s stock in a transaction on Wednesday, August 9th. The stock was sold at an average price of $130.01, for a total transaction of $2,153,745.66. Following the completion of the transaction, the insider now directly owns 93,872 shares in the company, valued at approximately $12,204,298.72. The disclosure for this sale can be found here. Insiders sold 194,303 shares of company stock worth $24,702,936 in the last three months. Insiders own 0.82% of the company’s stock.
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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