Independence Advisors LLC acquired a new stake in shares of Travelers Companies Inc (NYSE:TRV) during the fourth quarter, HoldingsChannel.com reports. The fund acquired 2,278 shares of the insurance provider’s stock, valued at approximately $309,000.
Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Vanguard Group Inc. raised its holdings in shares of Travelers Companies by 1.0% during the 2nd quarter. Vanguard Group Inc. now owns 21,769,557 shares of the insurance provider’s stock valued at $2,754,501,000 after buying an additional 217,625 shares in the last quarter. FMR LLC boosted its position in shares of Travelers Companies by 6.4% during the second quarter. FMR LLC now owns 7,020,581 shares of the insurance provider’s stock valued at $888,314,000 after purchasing an additional 424,036 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Travelers Companies by 1.6% during the third quarter. Dimensional Fund Advisors LP now owns 2,935,859 shares of the insurance provider’s stock valued at $359,710,000 after purchasing an additional 46,276 shares in the last quarter. APG Asset Management N.V. boosted its position in shares of Travelers Companies by 12.5% during the third quarter. APG Asset Management N.V. now owns 2,735,245 shares of the insurance provider’s stock valued at $335,122,000 after purchasing an additional 304,900 shares in the last quarter. Finally, Legal & General Group Plc boosted its position in shares of Travelers Companies by 2.8% during the third quarter. Legal & General Group Plc now owns 1,656,665 shares of the insurance provider’s stock valued at $202,985,000 after purchasing an additional 44,566 shares in the last quarter. 78.49% of the stock is currently owned by institutional investors.
In other news, EVP Michael Frederick Klein sold 20,077 shares of the business’s stock in a transaction on Tuesday, November 21st. The stock was sold at an average price of $130.68, for a total value of $2,623,662.36. Following the completion of the transaction, the executive vice president now owns 21,619 shares in the company, valued at $2,825,170.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Maria Olivo sold 33,225 shares of the business’s stock in a transaction on Wednesday, November 29th. The stock was sold at an average price of $134.18, for a total value of $4,458,130.50. The disclosure for this sale can be found here. Insiders have sold 55,302 shares of company stock valued at $7,347,753 in the last quarter. 0.82% of the stock is owned by company insiders.
Travelers Companies (NYSE:TRV) last announced its quarterly earnings data on Thursday, October 19th. The insurance provider reported $0.91 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $2.10 by ($1.19). The company had revenue of $6.66 billion for the quarter, compared to analysts’ expectations of $6.46 billion. Travelers Companies had a net margin of 8.56% and a return on equity of 9.87%. The firm’s quarterly revenue was up 4.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.40 EPS. sell-side analysts predict that Travelers Companies Inc will post 6.64 EPS for the current fiscal year.
Travelers Companies declared that its board has authorized a stock buyback program on Thursday, November 9th that allows the company to repurchase shares. This repurchase authorization allows the insurance provider to buy shares of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s board of directors believes its shares are undervalued.
The business also recently disclosed a quarterly dividend, which was paid on Friday, December 29th. Shareholders of record on Monday, December 11th were paid a dividend of $0.72 per share. This represents a $2.88 dividend on an annualized basis and a yield of 2.18%. The ex-dividend date of this dividend was Friday, December 8th. Travelers Companies’s payout ratio is 33.33%.
TRV has been the topic of several research reports. Royal Bank of Canada restated a “buy” rating and set a $148.00 price target on shares of Travelers Companies in a research report on Friday, December 8th. Citigroup lifted their price target on Travelers Companies from $143.00 to $151.00 and gave the company a “buy” rating in a research report on Friday, October 20th. UBS Group lifted their price target on Travelers Companies from $131.00 to $139.00 and gave the company a “neutral” rating in a research report on Wednesday, November 1st. Zacks Investment Research upgraded Travelers Companies from a “sell” rating to a “hold” rating in a research report on Wednesday, November 1st. Finally, Keefe, Bruyette & Woods upgraded Travelers Companies from a “market perform” rating to an “outperform” rating in a research report on Monday, October 16th. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating and nine have issued a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $134.38.
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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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