Travelers Companies Inc (NYSE:TRV) Shares Sold by Pinnacle Holdings LLC
Pinnacle Holdings LLC cut its holdings in shares of Travelers Companies Inc (NYSE:TRV) by 0.9% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 18,978 shares of the insurance provider’s stock after selling 177 shares during the period. Pinnacle Holdings LLC’s holdings in Travelers Companies were worth $2,838,000 as of its most recent SEC filing.
Several other institutional investors have also made changes to their positions in TRV. Comerica Securities Inc. grew its stake in shares of Travelers Companies by 22.5% during the fourth quarter. Comerica Securities Inc. now owns 10,568 shares of the insurance provider’s stock valued at $1,266,000 after acquiring an additional 1,944 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of Travelers Companies by 6.7% during the fourth quarter. Geode Capital Management LLC now owns 3,226,157 shares of the insurance provider’s stock valued at $385,607,000 after acquiring an additional 203,345 shares in the last quarter. Interactive Financial Advisors acquired a new stake in shares of Travelers Companies during the first quarter valued at about $27,000. First Mercantile Trust Co. grew its stake in shares of Travelers Companies by 10.7% during the first quarter. First Mercantile Trust Co. now owns 1,240 shares of the insurance provider’s stock valued at $170,000 after acquiring an additional 120 shares in the last quarter. Finally, Toronto Dominion Bank grew its stake in shares of Travelers Companies by 16.8% during the first quarter. Toronto Dominion Bank now owns 171,859 shares of the insurance provider’s stock valued at $23,565,000 after acquiring an additional 24,681 shares in the last quarter. Institutional investors own 81.41% of the company’s stock.
Shares of TRV stock traded down $2.28 during trading hours on Friday, hitting $146.02. 115,597 shares of the company were exchanged, compared to its average volume of 1,129,556. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.38 and a current ratio of 0.38. Travelers Companies Inc has a one year low of $111.08 and a one year high of $155.09. The business’s 50-day simple moving average is $147.69 and its two-hundred day simple moving average is $144.11. The stock has a market capitalization of $38.16 billion, a price-to-earnings ratio of 16.36, a P/E/G ratio of 1.39 and a beta of 0.93.
The firm also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Tuesday, September 10th will be issued a $0.82 dividend. The ex-dividend date of this dividend is Monday, September 9th. This represents a $3.28 dividend on an annualized basis and a yield of 2.25%. Travelers Companies’s dividend payout ratio is currently 36.69%.
In other Travelers Companies news, EVP Andy F. Bessette sold 11,650 shares of the firm’s stock in a transaction dated Tuesday, August 20th. The shares were sold at an average price of $146.85, for a total value of $1,710,802.50. Following the transaction, the executive vice president now owns 21,259 shares of the company’s stock, valued at $3,121,884.15. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Vice Chairman Jay S. Benet sold 21,972 shares of the firm’s stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $146.59, for a total transaction of $3,220,875.48. Following the completion of the transaction, the insider now directly owns 94,588 shares in the company, valued at approximately $13,865,654.92. The disclosure for this sale can be found here. Insiders sold 56,566 shares of company stock worth $8,347,056 in the last three months. 0.73% of the stock is currently owned by corporate insiders.
Several analysts have recently weighed in on TRV shares. Buckingham Research downgraded Travelers Companies from a “buy” rating to a “neutral” rating and set a $158.00 target price for the company. in a research note on Friday, July 19th. ValuEngine cut shares of Travelers Companies from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st. UBS Group increased their price target on shares of Travelers Companies from $146.00 to $152.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 10th. Royal Bank of Canada increased 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, Morgan Stanley reduced their price target on shares of Travelers Companies from $140.00 to $136.00 and set an “underweight” rating on the stock in a research report on Thursday, August 15th. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating and two have issued a buy rating to the stock. Travelers Companies currently has a consensus rating of “Hold” and a consensus target price of $148.78.
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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