Cibc World Markets Corp increased its stake in shares of The Travelers Companies, Inc. (NYSE:TRV) by 23.2% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 247,728 shares of the insurance provider’s stock after purchasing an additional 46,720 shares during the period. Cibc World Markets Corp owned approximately 0.10% of The Travelers Companies worth $37,087,000 as of its most recent SEC filing.
Several other institutional investors also recently made changes to their positions in TRV. Baldrige Asset Management LLC bought a new stake in shares of The Travelers Companies in the second quarter valued at about $30,000. Capital Analysts LLC increased its position in The Travelers Companies by 718.5% during the second quarter. Capital Analysts LLC now owns 221 shares of the insurance provider’s stock worth $33,000 after buying an additional 194 shares during the last quarter. RMR Wealth Builders acquired a new position in The Travelers Companies during the first quarter worth approximately $38,000. Vestor Capital LLC acquired a new position in shares of The Travelers Companies in the first quarter valued at approximately $41,000. Finally, Ameritas Investment Company LLC acquired a new position in shares of The Travelers Companies in the first quarter valued at approximately $48,000. 81.84% of the stock is owned by institutional investors and hedge funds.
TRV has been the subject of several recent research reports. William Blair reiterated an “outperform” rating on shares of The Travelers Companies in a research note on Wednesday, July 21st. Morgan Stanley increased their price target on The Travelers Companies from $166.00 to $168.00 and gave the company an “equal weight” rating in a research note on Monday, August 16th. Bank of America cut The Travelers Companies from a “buy” rating to an “underperform” rating and dropped their price target for the company from $171.00 to $161.00 in a research note on Thursday, July 22nd. Wolfe Research assumed coverage on The Travelers Companies in a report on Monday, August 16th. They issued an “outperform” rating and a $180.00 price objective for the company. Finally, increased their price target on The Travelers Companies from $155.00 to $160.00 and gave the stock a “neutral” rating in a report on Monday, June 21st. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $161.69.
The Travelers Companies (NYSE:TRV) last issued its quarterly earnings results on Monday, July 19th. The insurance provider reported $3.45 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.39 by $1.06. The Travelers Companies had a net margin of 11.30% and a return on equity of 12.71%. The company had revenue of $7.62 billion during the quarter, compared to analyst estimates of $7.53 billion. During the same quarter last year, the business posted ($0.20) EPS. The Travelers Companies’s quarterly revenue was up 9.5% compared to the same quarter last year. Sell-side analysts anticipate that The Travelers Companies, Inc. will post 12.25 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 30th. Investors of record on Friday, September 10th will be paid a $0.88 dividend. The ex-dividend date is Thursday, September 9th. This represents a $3.52 dividend on an annualized basis and a yield of 2.24%. The Travelers Companies’s dividend payout ratio is 33.59%.
In related news, EVP Michael Frederick Klein sold 12,000 shares of The Travelers Companies stock in a transaction that occurred on Monday, July 26th. The shares were sold at an average price of $149.22, for a total value of $1,790,640.00. Following the completion of the transaction, the executive vice president now directly owns 16,275 shares in the company, valued at approximately $2,428,555.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.92% of the stock is currently owned by insiders.
About The Travelers Companies
The Travelers Cos., Inc is a holding company, which engages in the provision of commercial and personal property and casualty insurance products and services. It operates through the following business segments: Business Insurance, Bond and Specialty Insurance, and Personal Insurance. The Business Insurance segment offers a broad array of property and casualty insurance, and insurance related services to its customers.
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