Massachusetts Financial Services Co. MA grew its position in Travelers Companies Inc (NYSE:TRV) by 0.2% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 12,973,071 shares of the insurance provider’s stock after buying an additional 26,522 shares during the quarter. Massachusetts Financial Services Co. MA owned 4.85% of Travelers Companies worth $1,587,125,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Squar Milner Financial Services LLC acquired a new stake in shares of Travelers Companies in the second quarter valued at $100,000. Acadian Asset Management LLC acquired a new stake in shares of Travelers Companies in the second quarter valued at $112,000. Institutional & Family Asset Management LLC acquired a new stake in shares of Travelers Companies in the first quarter valued at $133,000. American National Bank acquired a new stake in shares of Travelers Companies in the second quarter valued at $117,000. Finally, Centaurus Financial Inc. acquired a new stake in shares of Travelers Companies in the first quarter valued at $156,000. 79.42% of the stock is owned by institutional investors and hedge funds.
A number of brokerages have recently weighed in on TRV. Zacks Investment Research raised Travelers Companies from a “hold” rating to a “buy” rating and set a $154.00 price objective for the company in a research note on Thursday, April 12th. Wells Fargo & Co set a $142.00 target price on Travelers Companies and gave the stock a “hold” rating in a research note on Monday, April 2nd. ValuEngine raised Travelers Companies from a “sell” rating to a “hold” rating in a research note on Saturday. MKM Partners lowered their target price on Travelers Companies to $125.00 and set a “neutral” rating for the company in a research note on Tuesday, July 24th. Finally, TheStreet cut Travelers Companies from a “b” rating to a “c+” rating in a research note on Thursday, July 19th. Three investment analysts have rated the stock with a sell rating, nine have given a hold rating and seven have issued a buy rating to the company. Travelers Companies currently has an average rating of “Hold” and a consensus price target of $138.13.
Travelers Companies (NYSE:TRV) last announced its quarterly earnings results on Thursday, July 19th. The insurance provider reported $1.81 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $2.43 by ($0.62). The business had revenue of $7.44 billion for the quarter, compared to analysts’ expectations of $7.35 billion. Travelers Companies had a return on equity of 8.84% and a net margin of 6.89%. research analysts anticipate that Travelers Companies Inc will post 9.95 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 28th. Shareholders of record on Monday, September 10th will be issued a dividend of $0.77 per share. This represents a $3.08 dividend on an annualized basis and a yield of 2.35%. The ex-dividend date of this dividend is Friday, September 7th. Travelers Companies’s dividend payout ratio (DPR) is 42.31%.
In other Travelers Companies news, Vice Chairman Jay S. Benet sold 6,457 shares of Travelers Companies stock in a transaction dated Friday, May 11th. The stock was sold at an average price of $132.01, for a total transaction of $852,388.57. Following the completion of the sale, the insider now directly owns 91,757 shares of the company’s stock, valued at approximately $12,112,841.57. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Vice Chairman Jay S. Benet sold 6,854 shares of Travelers Companies stock in a transaction dated Tuesday, May 22nd. The stock was sold at an average price of $132.00, for a total value of $904,728.00. Following the sale, the insider now directly owns 92,154 shares of the company’s stock, valued at $12,164,328. The disclosure for this sale can be found here. 0.80% of the stock is owned by insiders.
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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