Oppenheimer & Co. Inc. Cuts Stake in The Travelers Companies, Inc. (TRV)

Oppenheimer & Co. Inc. reduced its position in The Travelers Companies, Inc. (NYSE:TRV) by 3.1% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 47,273 shares of the insurance provider’s stock after selling 1,517 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in The Travelers Companies were worth $5,982,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of TRV. CWM LLC boosted its holdings in shares of The Travelers Companies by 4.9% in the 2nd quarter. CWM LLC now owns 794 shares of the insurance provider’s stock worth $100,000 after purchasing an additional 37 shares in the last quarter. Westside Investment Management Inc. boosted its holdings in shares of The Travelers Companies by 361.1% in the 1st quarter. Westside Investment Management Inc. now owns 876 shares of the insurance provider’s stock worth $106,000 after purchasing an additional 686 shares in the last quarter. First Personal Financial Services boosted its holdings in shares of The Travelers Companies by 133.3% in the 1st quarter. First Personal Financial Services now owns 889 shares of the insurance provider’s stock worth $107,000 after purchasing an additional 508 shares in the last quarter. Tradewinds Capital Management LLC boosted its holdings in shares of The Travelers Companies by 1.1% in the 2nd quarter. Tradewinds Capital Management LLC now owns 905 shares of the insurance provider’s stock worth $115,000 after purchasing an additional 10 shares in the last quarter. Finally, Liberty Capital Management Inc. boosted its holdings in shares of The Travelers Companies by 434.8% in the 2nd quarter. Liberty Capital Management Inc. now owns 1,230 shares of the insurance provider’s stock worth $154,000 after purchasing an additional 1,000 shares in the last quarter. Hedge funds and other institutional investors own 77.55% of the company’s stock.

In other The Travelers Companies news, Vice Chairman Jay S. Benet sold 5,518 shares of the business’s stock in a transaction that occurred on Monday, July 17th. The stock was sold at an average price of $125.66, for a total transaction of $693,391.88. Following the completion of the transaction, the insider now owns 82,824 shares in the company, valued at $10,407,663.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Andy F. Bessette sold 3,300 shares of the business’s stock in a transaction that occurred on Tuesday, August 1st. The shares were sold at an average price of $128.50, for a total value of $424,050.00. Following the transaction, the executive vice president now owns 10,000 shares of the company’s stock, valued at approximately $1,285,000. The disclosure for this sale can be found here. Insiders have sold 150,395 shares of company stock valued at $19,249,559 in the last 90 days. Company insiders own 0.82% of the company’s stock.

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The Travelers Companies, Inc. (NYSE TRV) opened at 120.70 on Friday. The firm’s 50-day moving average price is $125.15 and its 200-day moving average price is $123.83. The Travelers Companies, Inc. has a 52-week low of $103.45 and a 52-week high of $130.37. The company has a market cap of $33.31 billion, a price-to-earnings ratio of 12.02 and a beta of 1.21.

The Travelers Companies (NYSE:TRV) last announced its earnings results on Thursday, July 20th. The insurance provider reported $1.92 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ 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 business had revenue of $6.35 billion for the quarter, compared to analysts’ expectations of $6.31 billion. During the same quarter last year, the firm earned $2.20 EPS. The firm’s quarterly revenue was up 4.7% on a year-over-year basis. On average, equities analysts anticipate that The Travelers Companies, Inc. will post $7.64 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Shareholders 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 annualized dividend and a dividend yield of 2.39%. The Travelers Companies’s dividend payout ratio (DPR) is presently 28.77%.

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

TRV has been the subject of several analyst reports. Royal Bank Of Canada restated a “buy” rating and set a $126.00 target price on shares of The Travelers Companies in a report on Monday, May 22nd. Keefe, Bruyette & Woods restated a “hold” rating and set a $115.00 target price on shares of The Travelers Companies in a report on Thursday, May 25th. BidaskClub upgraded The Travelers Companies from a “hold” rating to a “buy” rating in a report on Saturday, June 17th. Bank of America Corporation cut The Travelers Companies from a “buy” rating to a “neutral” rating and increased their target price for the company from $120.62 to $129.44 in a report on Monday, June 19th. Finally, Vetr upgraded The Travelers Companies from a “hold” rating to a “buy” rating and set a $132.68 target price for the company in a report on Tuesday, June 27th. Five investment analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have assigned a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $126.26.

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.

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

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