Axa lessened its holdings in shares of The Travelers Companies, Inc. (NYSE:TRV) by 24.2% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 362,130 shares of the insurance provider’s stock after selling 115,850 shares during the quarter. Axa owned 0.13% of The Travelers Companies worth $45,821,000 as of its most recent SEC filing.
A number of other hedge funds have also made changes to their positions in the business. CIBC World Markets Inc. increased its stake in The Travelers Companies by 86.0% during the 2nd quarter. CIBC World Markets Inc. now owns 127,934 shares of the insurance provider’s stock valued at $16,187,000 after purchasing an additional 59,158 shares in the last quarter. Commonwealth Bank of Australia increased its stake in The Travelers Companies by 0.4% during the 2nd quarter. Commonwealth Bank of Australia now owns 64,136 shares of the insurance provider’s stock valued at $8,114,000 after purchasing an additional 281 shares in the last quarter. Private Advisor Group LLC increased its stake in The Travelers Companies by 11.7% during the 2nd quarter. Private Advisor Group LLC now owns 14,868 shares of the insurance provider’s stock valued at $1,870,000 after purchasing an additional 1,559 shares in the last quarter. Engineers Gate Manager LP bought a new stake in The Travelers Companies during the 2nd quarter valued at $1,591,000. Finally, Rathbone Brothers plc bought a new stake in The Travelers Companies during the 2nd quarter valued at $205,000. Institutional investors and hedge funds own 77.48% of the company’s stock.
Shares of The Travelers Companies, Inc. (NYSE TRV) opened at 122.04 on Friday. The firm’s 50-day moving average is $124.75 and its 200 day moving average is $123.78. The stock has a market capitalization of $33.68 billion, a P/E ratio of 12.15 and a beta of 1.21. The Travelers Companies, Inc. has a 12-month low of $103.45 and a 12-month high of $130.37.
The Travelers Companies (NYSE:TRV) last released its quarterly earnings results 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 net margin of 10.15% and a return on equity of 11.68%. The company’s revenue for the quarter was up 4.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.20 earnings per share. On average, equities research analysts forecast that The Travelers Companies, Inc. will post $7.67 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Friday, September 8th will be paid 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 2.36%. The Travelers Companies’s dividend payout ratio is currently 28.77%.
The Travelers Companies announced that its board has initiated a share buyback plan on Monday, September 11th that permits the company to buyback shares. This buyback authorization permits the insurance provider to repurchase shares of its stock through open market purchases. Stock buyback plans are often an indication that the company’s leadership believes its stock is undervalued.
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A number of analysts have commented on TRV shares. BidaskClub upgraded shares of The Travelers Companies from a “hold” rating to a “buy” rating in a research note on Saturday, June 17th. Bank of America Corporation lowered shares of The Travelers Companies from a “buy” rating to a “neutral” rating and boosted their price target for the company from $120.62 to $129.44 in a research note on Monday, June 19th. Keefe, Bruyette & Woods restated a “hold” rating on shares of The Travelers Companies in a research note on Tuesday, June 20th. Vetr upgraded shares of The Travelers Companies from a “hold” rating to a “buy” rating and set a $132.68 price target for the company in a research note on Tuesday, June 27th. Finally, Morgan Stanley restated an “underweight” rating and set a $119.00 price target (up previously from $112.00) on shares of The Travelers Companies in a research note on Friday, July 7th. Five analysts have rated the stock with a sell rating, nine have assigned a hold rating and eight have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $126.18.
In other The Travelers Companies news, Vice Chairman William H. Heyman sold 14,000 shares of the business’s stock in a transaction dated Monday, July 24th. The stock was sold at an average price of $125.79, for a total transaction of $1,761,060.00. Following the completion of the sale, the insider now directly owns 253,744 shares in the company, valued at approximately $31,918,457.76. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Vice Chairman William H. Heyman sold 24,000 shares of the business’s stock in a transaction dated Tuesday, July 25th. The shares were sold at an average price of $126.64, for a total value of $3,039,360.00. Following the sale, the insider now owns 253,744 shares of the company’s stock, valued at $32,134,140.16. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 144,877 shares of company stock valued at $18,539,282. Corporate insiders own 0.82% of the company’s stock.
The Travelers Companies 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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