Institute for Wealth Management LLC. purchased a new position in The Travelers Companies, Inc. (NYSE:TRV) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 7,028 shares of the insurance provider’s stock, valued at approximately $893,000.

Several other institutional investors also recently bought and sold shares of the company. Tradewinds Capital Management LLC boosted its holdings in shares of The Travelers Companies by 1.1% in the second quarter. Tradewinds Capital Management LLC now owns 905 shares of the insurance provider’s stock worth $115,000 after acquiring an additional 10 shares during the period. Community Bank N.A. boosted its holdings in shares of The Travelers Companies by 0.7% in the second quarter. Community Bank N.A. now owns 1,435 shares of the insurance provider’s stock worth $181,000 after acquiring an additional 10 shares during the period. First Business Financial Services Inc. boosted its holdings in shares of The Travelers Companies by 0.5% in the second quarter. First Business Financial Services Inc. now owns 4,362 shares of the insurance provider’s stock worth $552,000 after acquiring an additional 20 shares during the period. Northern Oak Wealth Management Inc. boosted its holdings in shares of The Travelers Companies by 0.5% in the first quarter. Northern Oak Wealth Management Inc. now owns 4,873 shares of the insurance provider’s stock worth $587,000 after acquiring an additional 23 shares during the period. Finally, Lee Danner & Bass Inc. boosted its holdings in shares of The Travelers Companies by 0.4% in the second quarter. Lee Danner & Bass Inc. now owns 6,574 shares of the insurance provider’s stock worth $832,000 after acquiring an additional 24 shares during the period. 77.48% of the stock is owned by hedge funds and other institutional investors.

Shares of The Travelers Companies, Inc. (NYSE:TRV) opened at 125.07 on Friday. The Travelers Companies, Inc. has a 52-week low of $103.45 and a 52-week high of $130.37. The stock has a market cap of $34.51 billion, a P/E ratio of 12.45 and a beta of 1.20. The firm’s 50-day moving average price is $122.49 and its 200-day moving average price is $123.81.

The Travelers Companies (NYSE:TRV) last released its quarterly earnings data 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 net margin of 10.15% and a return on equity of 11.68%. The company had revenue of $6.35 billion for the quarter, compared to the consensus estimate of $6.31 billion. During the same period last year, the company earned $2.20 EPS. The firm’s revenue for the quarter was up 4.7% on a year-over-year basis. Equities analysts predict that The Travelers Companies, Inc. will post $7.43 EPS for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 29th. Shareholders of record on Friday, September 8th were issued a dividend of $0.72 per share. This represents a $2.88 annualized dividend and a dividend yield of 2.30%. The ex-dividend date of this dividend was Thursday, September 7th. The Travelers Companies’s dividend payout ratio (DPR) is presently 28.77%.

The Travelers Companies announced that its Board of Directors has initiated a stock repurchase plan on Monday, September 11th that allows the company to buyback outstanding shares. This buyback authorization allows the insurance provider to repurchase shares of its stock through open market purchases. Stock buyback plans are often a sign that the company’s management believes its shares are undervalued.

In other news, Vice Chairman William H. Heyman sold 24,000 shares of the company’s stock in a transaction dated 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 directly owns 253,744 shares in the company, valued at approximately $32,134,140.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Vice Chairman Jay S. Benet sold 5,518 shares of the company’s stock in a transaction dated Monday, July 17th. The shares were sold at an average price of $125.66, for a total transaction of $693,391.88. Following the sale, the insider now owns 82,824 shares in the company, valued at $10,407,663.84. The disclosure for this sale can be found here. Insiders have sold a total of 133,841 shares of company stock valued at $17,135,116 in the last three months. Insiders own 0.82% of the company’s stock.

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A number of equities analysts have recently commented on TRV shares. Vetr raised The Travelers Companies from a “hold” rating to a “buy” rating and set a $132.68 price target for the company in a report on Monday, July 3rd. Citigroup Inc. reiterated a “buy” rating and issued a $148.00 price objective (down previously from $150.00) on shares of The Travelers Companies in a research report on Monday, July 24th. BidaskClub upgraded The Travelers Companies from a “hold” rating to a “buy” rating in a research report on Saturday, June 17th. Royal Bank Of Canada reiterated a “buy” rating and issued a $135.00 price objective on shares of The Travelers Companies in a research report on Monday, August 21st. Finally, ValuEngine upgraded The Travelers Companies from a “hold” rating to a “buy” rating in a research report on Friday, September 1st. Five equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and eight have issued a buy rating to the company’s stock. The Travelers Companies presently has an average rating of “Hold” and an average target price of $125.71.

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.

Institutional Ownership by Quarter for The Travelers Companies (NYSE:TRV)

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