Sumitomo Mitsui Asset Management Company LTD increased its stake in shares of Travelers Companies Inc (NYSE:TRV) by 0.6% in the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 54,309 shares of the insurance provider’s stock after buying an additional 300 shares during the period. Sumitomo Mitsui Asset Management Company LTD’s holdings in Travelers Companies were worth $7,449,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently bought and sold shares of the stock. Vanguard Group Inc boosted its holdings in Travelers Companies by 0.3% during the third quarter. Vanguard Group Inc now owns 22,074,825 shares of the insurance provider’s stock valued at $2,863,326,000 after acquiring an additional 65,931 shares during the period. DNB Asset Management AS lifted its stake in shares of Travelers Companies by 113.9% in the fourth quarter. DNB Asset Management AS now owns 73,432 shares of the insurance provider’s stock valued at $8,793,000 after buying an additional 39,101 shares during the period. Stock Yards Bank & Trust Co. lifted its stake in shares of Travelers Companies by 21.9% in the fourth quarter. Stock Yards Bank & Trust Co. now owns 4,006 shares of the insurance provider’s stock valued at $480,000 after buying an additional 720 shares during the period. Ipswich Investment Management Co. Inc. bought a new stake in shares of Travelers Companies in the fourth quarter valued at about $66,000. Finally, Steward Partners Investment Advisory LLC lifted its stake in shares of Travelers Companies by 18.6% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 5,184 shares of the insurance provider’s stock valued at $620,000 after buying an additional 812 shares during the period. Institutional investors and hedge funds own 80.56% of the company’s stock.
Several research firms recently weighed in on TRV. Morgan Stanley increased their target price on shares of Travelers Companies from $119.00 to $130.00 and gave the company an “underweight” rating in a research note on Tuesday, April 30th. Royal Bank of Canada reiterated a “neutral” rating and issued a $145.00 target price on shares of Travelers Companies in a research note on Thursday, April 18th. Barclays increased their price target on shares of Travelers Companies from $145.00 to $160.00 and gave the stock an “overweight” rating in a research report on Monday, April 1st. Zacks Investment Research lowered shares of Travelers Companies from a “buy” rating to a “hold” rating in a research report on Thursday, April 4th. Finally, MKM Partners increased their price target on shares of Travelers Companies to $140.00 and gave the stock a “neutral” rating in a research report on Monday, April 22nd. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and two have given a buy rating to the company’s stock. Travelers Companies presently has a consensus rating of “Hold” and a consensus target price of $140.58.
Travelers Companies (NYSE:TRV) last posted its quarterly earnings results on Thursday, April 18th. The insurance provider reported $2.83 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.76 by $0.07. Travelers Companies had a net margin of 8.64% and a return on equity of 10.86%. The firm had revenue of $6.86 billion during the quarter, compared to analyst estimates of $6.94 billion. During the same quarter in the prior year, the business posted $2.46 earnings per share. The company’s quarterly revenue was up 4.9% compared to the same quarter last year. On average, research analysts expect that Travelers Companies Inc will post 11.11 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Monday, June 10th will be issued a dividend of $0.82 per share. This is a positive change from Travelers Companies’s previous quarterly dividend of $0.77. The ex-dividend date is Friday, June 7th. This represents a $3.28 annualized dividend and a dividend yield of 2.21%. Travelers Companies’s dividend payout ratio (DPR) is presently 34.45%.
In other news, CEO Alan D. Schnitzer sold 66,228 shares of the firm’s stock in a transaction that occurred on Monday, February 25th. The shares were sold at an average price of $132.22, for a total transaction of $8,756,666.16. Following the completion of the sale, the chief executive officer now owns 134,252 shares of the company’s stock, valued at $17,750,799.44. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Vice Chairman William H. Heyman sold 2,000 shares of the firm’s stock in a transaction that occurred on Friday, April 26th. The stock was sold at an average price of $140.00, for a total transaction of $280,000.00. Following the sale, the insider now directly owns 241,745 shares of the company’s stock, valued at approximately $33,844,300. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 299,931 shares of company stock valued at $41,245,380. Company insiders own 0.73% of the company’s stock.
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Travelers Companies Profile
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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