Eagle Ridge Investment Management lowered its stake in Travelers Companies Inc (NYSE:TRV) by 3.9% during the second quarter, Holdings Channel.com reports. The fund owned 3,060 shares of the insurance provider’s stock after selling 125 shares during the period. Eagle Ridge Investment Management’s holdings in Travelers Companies were worth $458,000 as of its most recent SEC filing.
Several other large investors also recently added to or reduced their stakes in TRV. BlackRock Inc. increased its position in shares of Travelers Companies by 7.3% in the first quarter. BlackRock Inc. now owns 22,604,259 shares of the insurance provider’s stock valued at $3,100,401,000 after acquiring an additional 1,528,327 shares during the last quarter. FMR LLC increased its position in shares of Travelers Companies by 9.4% in the first quarter. FMR LLC now owns 10,500,482 shares of the insurance provider’s stock valued at $1,440,247,000 after acquiring an additional 904,028 shares during the last quarter. FIL Ltd increased its position in shares of Travelers Companies by 44.8% in the first quarter. FIL Ltd now owns 1,450,421 shares of the insurance provider’s stock valued at $198,939,000 after acquiring an additional 448,948 shares during the last quarter. Thoroughbred Financial Services LLC increased its position in shares of Travelers Companies by 16,739.9% in the second quarter. Thoroughbred Financial Services LLC now owns 424,196 shares of the insurance provider’s stock valued at $42,420,000 after acquiring an additional 421,677 shares during the last quarter. Finally, Victory Capital Management Inc. increased its position in shares of Travelers Companies by 23.0% in the first quarter. Victory Capital Management Inc. now owns 1,940,150 shares of the insurance provider’s stock valued at $266,111,000 after acquiring an additional 362,384 shares during the last quarter. 80.72% of the stock is currently owned by institutional investors and hedge funds.
In other news, Vice Chairman William H. Heyman sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, July 29th. The stock was sold at an average price of $150.75, for a total transaction of $753,750.00. Following the completion of the sale, the insider now owns 244,745 shares in the company, valued at $36,895,308.75. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Michael Frederick Klein sold 3,545 shares of the business’s stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $147.41, for a total value of $522,568.45. The disclosure for this sale can be found here. Insiders have sold 32,944 shares of company stock valued at $4,892,878 in the last quarter. 0.73% of the stock is currently owned by corporate insiders.
TRV has been the topic of a number of recent research reports. UBS Group lifted their target price on Travelers Companies from $146.00 to $152.00 and gave the company a “neutral” rating in a research report on Wednesday, July 10th. Barclays set a $177.00 price target on Travelers Companies and gave the stock a “buy” rating in a report on Monday. ValuEngine cut Travelers Companies from a “buy” rating to a “hold” rating in a report on Thursday, August 1st. Morgan Stanley reduced their price target on Travelers Companies from $140.00 to $136.00 and set an “underweight” rating for the company in a report on Thursday. Finally, MKM Partners lifted their price target on Travelers Companies to $140.00 and gave the stock a “neutral” rating in a report on Monday, April 22nd. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating and two have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $148.78.
Travelers Companies stock traded up $2.22 during midday trading on Thursday, reaching $145.70. 548,830 shares of the company’s stock were exchanged, compared to its average volume of 1,316,677. Travelers Companies Inc has a 52 week low of $111.08 and a 52 week high of $155.09. The company has a current ratio of 0.38, a quick ratio of 0.38 and a debt-to-equity ratio of 0.26. The company has a market cap of $38.10 billion, a price-to-earnings ratio of 16.30, a price-to-earnings-growth ratio of 1.39 and a beta of 0.94. The firm has a 50-day moving average price of $150.14.
Travelers Companies (NYSE:TRV) last posted its quarterly earnings results on Tuesday, July 23rd. The insurance provider reported $2.02 EPS for the quarter, missing analysts’ consensus estimates of $2.32 by ($0.30). Travelers Companies had a return on equity of 10.73% and a net margin of 8.65%. The business had revenue of $6.99 billion for the quarter, compared to the consensus estimate of $7.03 billion. During the same quarter in the previous year, the business posted $1.81 EPS. The company’s revenue for the quarter was up 4.4% on a year-over-year basis. On average, sell-side analysts expect that Travelers Companies Inc will post 10.63 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Tuesday, September 10th will be issued a dividend of $0.82 per share. This represents a $3.28 dividend on an annualized basis and a yield of 2.25%. The ex-dividend date of this dividend is Monday, September 9th. Travelers Companies’s payout ratio is currently 36.69%.
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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