WBI Investments Inc. boosted its position in The Travelers Companies, Inc. (NYSE:TRV) by 112.4% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 45,468 shares of the insurance provider’s stock after buying an additional 24,060 shares during the period. WBI Investments Inc.’s holdings in The Travelers Companies were worth $5,481,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in TRV. First Personal Financial Services raised its position in The Travelers Companies by 133.3% in the first quarter. First Personal Financial Services now owns 889 shares of the insurance provider’s stock worth $107,000 after buying an additional 508 shares during the last quarter. Intellectus Partners LLC bought a new position in shares of The Travelers Companies during the fourth quarter worth $109,000. Bartlett & Co. LLC boosted its position in shares of The Travelers Companies by 30.0% in the first quarter. Bartlett & Co. LLC now owns 1,399 shares of the insurance provider’s stock worth $169,000 after buying an additional 323 shares in the last quarter. Community Bank N.A. boosted its position in shares of The Travelers Companies by 39.0% in the first quarter. Community Bank N.A. now owns 1,425 shares of the insurance provider’s stock worth $172,000 after buying an additional 400 shares in the last quarter. Finally, Clean Yield Group bought a new position in shares of The Travelers Companies during the first quarter worth $176,000. 77.87% of the stock is currently owned by hedge funds and other institutional investors.
Shares of The Travelers Companies, Inc. (NYSE:TRV) traded up 1.06% during midday trading on Friday, hitting $127.21. The stock had a trading volume of 1,277,677 shares. The Travelers Companies, Inc. has a one year low of $103.45 and a one year high of $129.60. The company has a market capitalization of $35.10 billion, a PE ratio of 12.67 and a beta of 1.21. The firm’s 50-day moving average is $126.75 and its 200 day moving average is $122.35.
The Travelers Companies (NYSE:TRV) last posted its quarterly earnings data on Thursday, July 20th. The insurance provider reported $1.92 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $2.07 by $0.15. The firm had revenue of $6.35 billion for the quarter, compared to the consensus estimate of $6.31 billion. The Travelers Companies had a return on equity of 11.68% and a net margin of 10.15%. The firm’s quarterly revenue was up 4.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.20 earnings per share. Equities analysts expect that The Travelers Companies, Inc. will post $8.94 earnings per share for the current fiscal year.
The Travelers Companies declared that its Board of Directors has approved a stock repurchase plan on Thursday, April 20th that authorizes the company to buyback $5.00 billion in shares. This buyback authorization authorizes the insurance provider to purchase shares of its stock through open market purchases. Shares buyback plans are usually a sign that the company’s board believes its stock is undervalued.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Friday, September 8th will be issued a dividend of $0.72 per share. The ex-dividend date of this dividend is Thursday, September 7th. This represents a $2.88 dividend on an annualized basis and a dividend yield of 2.26%. The Travelers Companies’s payout ratio is presently 28.77%.
TRV has been the topic of a number of analyst reports. Vetr raised The Travelers Companies from a “hold” rating to a “buy” rating and set a $132.68 price target on the stock in a research note on Monday, July 3rd. Royal Bank Of Canada reissued a “buy” rating and issued a $126.00 price target on shares of The Travelers Companies in a research note on Monday, May 22nd. Argus raised The Travelers Companies from a “hold” rating to a “buy” rating and set a $132.00 price target on the stock in a research note on Monday, April 24th. Citigroup Inc. lifted their price target on The Travelers Companies from $140.00 to $142.00 and gave the stock a “buy” rating in a research note on Friday, April 7th. Finally, BidaskClub raised The Travelers Companies from a “hold” rating to a “buy” rating in a research note on Saturday, June 17th. Five investment analysts have rated the stock with a sell rating, seven have issued a hold rating and six have assigned a buy rating to the company. The Travelers Companies currently has an average rating of “Hold” and a consensus target price of $123.79.
In related news, Vice Chairman William H. Heyman sold 8,000 shares of the stock in a transaction dated Wednesday, May 31st. The stock was sold at an average price of $124.38, for a total transaction of $995,040.00. Following the completion of the transaction, the insider now directly owns 241,744 shares in the company, valued at $30,068,118.72. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Vice Chairman William H. Heyman sold 7,000 shares of the stock in a transaction that occurred on Thursday, May 25th. The shares were sold at an average price of $123.48, for a total value of $864,360.00. Following the transaction, the insider now directly owns 246,744 shares of the company’s stock, valued at $30,467,949.12. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 125,049 shares of company stock valued at $15,706,306. 0.82% of the stock is owned by corporate insiders.
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.
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