Vanguard Group Inc. Acquires 217,625 Shares of The Travelers Companies, Inc. (TRV)
Vanguard Group Inc. raised its holdings in shares of The Travelers Companies, Inc. (NYSE:TRV) by 1.0% in the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 21,769,557 shares of the insurance provider’s stock after acquiring an additional 217,625 shares during the period. Vanguard Group Inc. owned approximately 7.89% of The Travelers Companies worth $2,754,501,000 at the end of the most recent reporting period.
Several other institutional investors have also modified their holdings of the business. BlackRock Inc. boosted its position in shares of The Travelers Companies by 2,395.6% in the 1st quarter. BlackRock Inc. now owns 20,403,051 shares of the insurance provider’s stock worth $2,459,383,000 after purchasing an additional 19,585,476 shares during the last quarter. FMR LLC grew its stake in shares of The Travelers Companies by 42.1% during the first quarter. FMR LLC now owns 6,596,545 shares of the insurance provider’s stock worth $795,148,000 after purchasing an additional 1,954,573 shares during the period. American Century Companies Inc. grew its stake in shares of The Travelers Companies by 2,264.8% during the second quarter. American Century Companies Inc. now owns 901,739 shares of the insurance provider’s stock worth $114,097,000 after purchasing an additional 863,607 shares during the period. Hermes Investment Management Ltd. acquired a new stake in shares of The Travelers Companies during the second quarter worth $58,950,000. Finally, WINTON GROUP Ltd grew its stake in shares of The Travelers Companies by 191.6% during the first quarter. WINTON GROUP Ltd now owns 695,246 shares of the insurance provider’s stock worth $79,640,000 after purchasing an additional 456,814 shares during the period. Institutional investors own 77.48% of the company’s stock.
Several equities analysts have weighed in on TRV shares. Royal Bank Of Canada reissued a “buy” rating and issued a $135.00 target price on shares of The Travelers Companies in a research note on Monday, August 21st. Credit Suisse Group decreased their target price on The Travelers Companies from $128.00 to $125.00 and set a “neutral” rating for the company in a research report on Tuesday, September 12th. Zacks Investment Research upgraded The Travelers Companies from a “sell” rating to a “hold” rating in a research report on Thursday, September 14th. ValuEngine raised The Travelers Companies from a “hold” rating to a “buy” rating in a research note on Friday, September 1st. Finally, 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 research note on Monday, July 24th. Five analysts have rated the stock with a sell rating, nine have given a hold rating and eight have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $126.18.
In other news, EVP Andy F. Bessette sold 3,300 shares of the company’s stock in a transaction dated Tuesday, August 1st. The shares were sold at an average price of $128.50, for a total transaction of $424,050.00. Following the completion of the transaction, the executive vice president now directly owns 10,000 shares of the company’s stock, valued at $1,285,000. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Michael Frederick Klein sold 10,051 shares of the company’s stock in a transaction dated Tuesday, July 25th. The shares were sold at an average price of $127.47, for a total transaction of $1,281,200.97. Following the transaction, the executive vice president now directly owns 1,542 shares of the company’s stock, valued at $196,558.74. 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. 0.82% of the stock is currently owned by corporate insiders.
The Travelers Companies, Inc. (TRV) opened at 122.52 on Monday. The company has a market cap of $33.81 billion, a PE ratio of 12.20 and a beta of 1.20. The firm’s 50-day moving average price is $124.75 and its 200-day moving average price is $123.78. 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 issued 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 firm had revenue of $6.35 billion during the quarter, compared to analysts’ expectations of $6.31 billion. During the same period in the previous year, the firm earned $2.20 earnings per share. The firm’s quarterly revenue was up 4.7% compared to the same quarter last year. Equities research analysts forecast that The Travelers Companies, Inc. will post $7.67 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 repurchase shares. This repurchase authorization allows the insurance provider to reacquire shares of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s board believes its stock is undervalued.
The company also recently declared a quarterly dividend, which was paid on Friday, September 29th. Shareholders of record on Friday, September 8th were given a dividend of $0.72 per share. The ex-dividend date was Thursday, September 7th. This represents a $2.88 annualized dividend and a yield of 2.35%. The Travelers Companies’s payout ratio is currently 28.77%.
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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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