The Travelers Companies, Inc. (TRV) Shares Sold by Creative Planning
Creative Planning cut its position in shares of The Travelers Companies, Inc. (NYSE:TRV) by 6.0% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 34,800 shares of the insurance provider’s stock after selling 2,203 shares during the period. Creative Planning’s holdings in The Travelers Companies were worth $4,403,000 as of its most recent SEC filing.
A number of other institutional investors have also made changes to their positions in TRV. Cullinan Associates Inc. increased its position in shares of The Travelers Companies by 17.7% in the second quarter. Cullinan Associates Inc. now owns 23,316 shares of the insurance provider’s stock worth $2,950,000 after buying an additional 3,500 shares during the period. NEXT Financial Group Inc increased its position in shares of The Travelers Companies by 12.5% in the second quarter. NEXT Financial Group Inc now owns 2,931 shares of the insurance provider’s stock worth $371,000 after buying an additional 326 shares during the period. Virtu Financial LLC acquired a new position in shares of The Travelers Companies during the second quarter worth about $226,000. Union Bankshares Corp increased its position in shares of The Travelers Companies by 2.2% in the second quarter. Union Bankshares Corp now owns 4,709 shares of the insurance provider’s stock worth $595,000 after buying an additional 100 shares during the period. Finally, Arvest Bank Trust Division increased its position in shares of The Travelers Companies by 1.2% in the second quarter. Arvest Bank Trust Division now owns 127,399 shares of the insurance provider’s stock worth $16,120,000 after buying an additional 1,465 shares during the period. 78.24% of the stock is owned by hedge funds and other institutional investors.
Shares of The Travelers Companies, Inc. (NYSE:TRV) traded up 0.52% during midday trading on Wednesday, reaching $129.72. The company’s stock had a trading volume of 623,633 shares. The company’s 50-day moving average price is $127.19 and its 200 day moving average price is $123.37. The firm has a market capitalization of $35.80 billion, a PE ratio of 12.92 and a beta of 1.20. The Travelers Companies, Inc. has a 1-year low of $103.45 and a 1-year high of $130.37.
The Travelers Companies (NYSE:TRV) last released its quarterly earnings data on Thursday, July 20th. The insurance provider reported $1.92 earnings per share (EPS) for the quarter, missing the Zacks’ 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 analyst estimates of $6.31 billion. During the same quarter in the prior year, the firm earned $2.20 EPS. The company’s revenue for the quarter was up 4.7% compared to the same quarter last year. On average, equities research analysts forecast that The Travelers Companies, Inc. will post $8.90 earnings per share for the current year.
The Travelers Companies declared that its board has initiated a share buyback plan on Thursday, April 20th that authorizes the company to buyback $5.00 billion in shares. This buyback authorization authorizes the insurance provider to reacquire shares of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Friday, September 8th will be given a dividend of $0.72 per share. The ex-dividend date is Thursday, September 7th. This represents a $2.88 dividend on an annualized basis and a yield of 2.23%. The Travelers Companies’s dividend payout ratio is currently 28.77%.
A number of brokerages recently issued reports on TRV. Barclays PLC upped their price target on The Travelers Companies from $119.00 to $122.00 and gave the company an “equal weight” rating in a report on Friday, August 11th. BidaskClub downgraded The Travelers Companies from a “sell” rating to a “strong sell” rating in a report on Tuesday, August 1st. MKM Partners reaffirmed 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. Citigroup Inc. reaffirmed a “buy” rating and issued a $148.00 price target (down from $150.00) on shares of The Travelers Companies in a report on Monday, July 24th. Finally, Morgan Stanley reaffirmed an “underweight” rating and issued a $119.00 price target (up from $112.00) on shares of The Travelers Companies in a report on Friday, July 7th. Five investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and six have issued a buy rating to the stock. The Travelers Companies has a consensus rating of “Hold” and a consensus target price of $124.01.
In related news, Vice Chairman William H. Heyman sold 7,000 shares of the business’s stock in a transaction that occurred on Thursday, May 25th. The stock was sold at an average price of $123.48, for a total transaction of $864,360.00. Following the completion of the transaction, the insider now owns 246,744 shares in the company, valued at approximately $30,467,949.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Kenneth Franklin Spence III sold 4,800 shares of the business’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 value of $617,904.00. The disclosure for this sale can be found here. Insiders have sold a total of 194,303 shares of company stock valued at $24,702,936 in the last 90 days. Insiders own 0.82% of the company’s stock.
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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