Tiverton Asset Management LLC acquired a new position in shares of Travelers Companies Inc (NYSE:TRV) during the second quarter, HoldingsChannel reports. The institutional investor acquired 1,623 shares of the insurance provider’s stock, valued at approximately $243,000.
Several other institutional investors have also made changes to their positions in TRV. Comerica Securities Inc. increased its holdings in shares of Travelers Companies by 22.5% in the 4th 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 during the period. Geode Capital Management LLC grew its position in Travelers Companies by 6.7% in the 4th quarter. Geode Capital Management LLC now owns 3,226,157 shares of the insurance provider’s stock valued at $385,607,000 after buying an additional 203,345 shares during the last quarter. First Allied Advisory Services Inc. grew its position in Travelers Companies by 0.4% in the 1st quarter. First Allied Advisory Services Inc. now owns 18,790 shares of the insurance provider’s stock valued at $2,579,000 after buying an additional 81 shares during the last quarter. Interactive Financial Advisors purchased a new position in Travelers Companies in the 1st quarter valued at $27,000. Finally, First Mercantile Trust Co. grew its position in Travelers Companies by 10.7% in the 1st quarter. First Mercantile Trust Co. now owns 1,240 shares of the insurance provider’s stock valued at $170,000 after buying an additional 120 shares during the last quarter. 81.41% of the stock is currently owned by institutional investors and hedge funds.
In related news, Vice Chairman William H. Heyman sold 7,500 shares of the business’s stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $149.50, for a total value of $1,121,250.00. Following the sale, the insider now directly owns 242,245 shares in the company, valued at approximately $36,215,627.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Vice Chairman William H. Heyman sold 5,000 shares of the business’s stock in a transaction dated 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 disclosure for this sale can be found here. Insiders have sold a total of 56,566 shares of company stock worth $8,347,056 over the last 90 days. Insiders own 0.73% of the company’s stock.
Travelers Companies (NYSE:TRV) last issued its earnings results on Tuesday, July 23rd. The insurance provider reported $2.02 EPS for the quarter, missing the consensus estimate of $2.32 by ($0.30). The company had revenue of $6.99 billion for the quarter, compared to analysts’ expectations of $7.03 billion. Travelers Companies had a return on equity of 10.73% and a net margin of 8.65%. Travelers Companies’s revenue for the quarter was up 4.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.81 earnings per share. On average, research analysts forecast that Travelers Companies Inc will post 10.63 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Tuesday, September 10th will be given a dividend of $0.82 per share. The ex-dividend date of this dividend is Monday, September 9th. This represents a $3.28 annualized dividend and a dividend yield of 2.21%. Travelers Companies’s payout ratio is currently 36.69%.
TRV has been the topic of a number of analyst reports. Keefe, Bruyette & Woods lowered shares of Travelers Companies from an “outperform” rating to a “market perform” rating and set a $153.00 price objective on the stock. in a research report on Wednesday, June 5th. UBS Group lifted their price objective on shares of Travelers Companies from $146.00 to $152.00 and gave the company a “neutral” rating in a research report on Wednesday, July 10th. ValuEngine lowered shares of Travelers Companies from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st. Royal Bank of Canada lifted their price objective on shares of Travelers Companies to $160.00 and gave the company a “sector perform” rating in a research report on Wednesday, July 24th. Finally, Barclays set a $177.00 target price on shares of Travelers Companies and gave the stock a “buy” rating in a research report on Monday, August 12th. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating and two have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average 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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