BDO Wealth Advisors LLC purchased a new stake in shares of The Travelers Companies, Inc. (NYSE:TRV) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 10,914 shares of the insurance provider’s stock, valued at approximately $1,381,000. The Travelers Companies comprises about 0.6% of BDO Wealth Advisors LLC’s investment portfolio, making the stock its 27th largest holding.
A number of other large investors have also added to or reduced their stakes in the business. IBM Retirement Fund raised its stake in The Travelers Companies by 109.5% in the second quarter. IBM Retirement Fund now owns 6,812 shares of the insurance provider’s stock valued at $963,000 after buying an additional 3,561 shares during the period. DekaBank Deutsche Girozentrale raised its stake in The Travelers Companies by 5.4% in the second quarter. DekaBank Deutsche Girozentrale now owns 137,846 shares of the insurance provider’s stock valued at $17,537,000 after buying an additional 7,042 shares during the period. Palisade Asset Management LLC raised its stake in The Travelers Companies by 2.2% in the second quarter. Palisade Asset Management LLC now owns 18,569 shares of the insurance provider’s stock valued at $2,350,000 after buying an additional 400 shares during the period. Teza Capital Management LLC bought a new stake in The Travelers Companies in the first quarter valued at approximately $1,637,000. Finally, Lincoln National Corp bought a new stake in The Travelers Companies in the first quarter valued at approximately $275,000. Hedge funds and other institutional investors own 77.55% of the company’s stock.
The Travelers Companies, Inc. (NYSE:TRV) opened at 122.48 on Wednesday. The Travelers Companies, Inc. has a 52 week low of $103.45 and a 52 week high of $130.37. The company has a market cap of $33.80 billion, a price-to-earnings ratio of 12.20 and a beta of 1.21. The stock’s 50 day moving average price is $125.75 and its 200-day moving average price is $123.88.
The Travelers Companies (NYSE:TRV) last posted its quarterly earnings data on Thursday, July 20th. The insurance provider reported $1.92 EPS for the quarter, missing the consensus estimate of $2.07 by ($0.15). The Travelers Companies had a net margin of 10.15% and a return on equity of 11.68%. The firm had revenue of $6.35 billion during the quarter, compared to analysts’ expectations of $6.31 billion. During the same quarter in the previous year, the company posted $2.20 EPS. The Travelers Companies’s revenue for the quarter was up 4.7% on a year-over-year basis. On average, equities research analysts forecast that The Travelers Companies, Inc. will post $8.89 earnings per share for the current fiscal year.
The Travelers Companies announced that its Board of Directors has initiated a share repurchase plan on Monday, September 11th that allows the company to buyback outstanding shares. This buyback authorization allows the insurance provider to reacquire shares of its stock through open market purchases. Shares buyback plans are often a sign that the company’s board of directors 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 paid a $0.72 dividend. The ex-dividend date of this dividend is Thursday, September 7th. This represents a $2.88 annualized dividend and a yield of 2.35%. The Travelers Companies’s payout ratio is 28.77%.
In other The Travelers Companies news, Vice Chairman Jay S. Benet sold 5,518 shares of the business’s stock in a transaction on Monday, June 26th. The shares were sold at an average price of $127.49, for a total transaction of $703,489.82. Following the sale, the insider now owns 82,824 shares of the company’s stock, valued at approximately $10,559,231.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Vice Chairman William H. Heyman sold 14,000 shares of the business’s stock in a transaction on Monday, July 24th. The shares were sold at an average price of $125.79, for a total transaction of $1,761,060.00. Following the sale, the insider now directly owns 253,744 shares in the company, valued at approximately $31,918,457.76. The disclosure for this sale can be found here. In the last quarter, insiders sold 150,395 shares of company stock worth $19,249,559. 0.82% of the stock is owned by company insiders.
Several research firms have issued reports on TRV. BidaskClub lowered The Travelers Companies from a “buy” rating to a “hold” rating in a research note on Wednesday, July 12th. Vetr upgraded The Travelers Companies from a “hold” rating to a “buy” rating and set a $132.68 price objective on the stock in a research note on Tuesday, June 27th. Keefe, Bruyette & Woods restated a “hold” rating and issued a $115.00 price objective on shares of The Travelers Companies in a research note on Thursday, May 25th. Barclays PLC upped their price objective on The Travelers Companies from $119.00 to $122.00 and gave the company an “equal weight” rating in a research note on Friday, August 11th. Finally, Zacks Investment Research lowered The Travelers Companies from a “hold” rating to a “sell” rating in a research note on Tuesday, September 5th. Six investment analysts have rated the stock with a sell rating, seven have issued a hold rating and eight have issued a buy rating to the stock. The Travelers Companies has an average rating of “Hold” and a consensus price target of $126.26.
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About The Travelers Companies
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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