Parallel Advisors LLC lowered its stake in Travelers Companies Inc (NYSE:TRV) by 2.9% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 6,969 shares of the insurance provider’s stock after selling 209 shares during the period. Parallel Advisors LLC’s holdings in Travelers Companies were worth $1,036,000 at the end of the most recent quarter.
Several other institutional investors also recently modified their holdings of TRV. Private Trust Co. NA increased its holdings in Travelers Companies by 4.1% in the 2nd quarter. Private Trust Co. NA now owns 3,545 shares of the insurance provider’s stock valued at $530,000 after acquiring an additional 138 shares during the last quarter. Fulton Bank N.A. increased its holdings in Travelers Companies by 33.4% in the 2nd quarter. Fulton Bank N.A. now owns 9,774 shares of the insurance provider’s stock valued at $1,462,000 after acquiring an additional 2,445 shares during the last quarter. Douglas Lane & Associates LLC increased its holdings in Travelers Companies by 6.5% in the 2nd quarter. Douglas Lane & Associates LLC now owns 2,080 shares of the insurance provider’s stock valued at $311,000 after acquiring an additional 127 shares during the last quarter. KAMES CAPITAL plc increased its holdings in Travelers Companies by 92.8% in the 2nd quarter. KAMES CAPITAL plc now owns 14,455 shares of the insurance provider’s stock valued at $2,161,000 after acquiring an additional 6,956 shares during the last quarter. Finally, Crossmark Global Holdings Inc. increased its holdings in Travelers Companies by 3.3% in the 2nd quarter. Crossmark Global Holdings Inc. now owns 26,286 shares of the insurance provider’s stock valued at $3,930,000 after acquiring an additional 835 shares during the last quarter. 82.10% of the stock is owned by institutional investors and hedge funds.
A number of analysts have recently weighed in on TRV shares. MKM Partners upgraded shares of Travelers Companies from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $130.00 to $160.00 in a report on Monday, October 28th. ValuEngine downgraded shares of Travelers Companies from a “buy” rating to a “hold” rating in a report on Thursday, August 1st. Credit Suisse Group reduced their target price on shares of Travelers Companies from $141.00 to $126.00 and set a “neutral” rating on the stock in a report on Tuesday, October 29th. Argus reduced their target price on shares of Travelers Companies to $145.00 in a report on Thursday, October 24th. Finally, Royal Bank of Canada boosted their target price on shares of Travelers Companies to $160.00 and gave the stock a “sector perform” rating in a report on Wednesday, July 24th. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and three have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $147.93.
Shares of Travelers Companies stock traded up $1.11 during trading hours on Thursday, reaching $133.46. The company’s stock had a trading volume of 20,429 shares, compared to its average volume of 1,394,637. The stock has a market cap of $33.61 billion, a P/E ratio of 14.94, a P/E/G ratio of 1.44 and a beta of 0.90. Travelers Companies Inc has a one year low of $111.08 and a one year high of $155.09. The firm has a 50 day moving average price of $140.05 and a 200-day moving average price of $145.77. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.38 and a quick ratio of 0.38.
Travelers Companies (NYSE:TRV) last issued its quarterly earnings results on Tuesday, October 22nd. The insurance provider reported $1.43 EPS for the quarter, missing the consensus estimate of $2.35 by ($0.92). The firm had revenue of $7.57 billion for the quarter, compared to the consensus estimate of $7.17 billion. Travelers Companies had a net margin of 7.57% and a return on equity of 9.13%. The business’s revenue for the quarter was up 7.2% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.54 earnings per share. As a group, sell-side analysts forecast that Travelers Companies Inc will post 9.76 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Tuesday, December 10th will be issued a dividend of $0.82 per share. The ex-dividend date is Monday, December 9th. This represents a $3.28 annualized dividend and a yield of 2.46%. Travelers Companies’s payout ratio is 36.69%.
In related news, EVP Michael Frederick Klein sold 3,545 shares of the company’s stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $147.41, for a total transaction of $522,568.45. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Vice Chairman Jay S. Benet sold 21,972 shares of the company’s stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $146.59, for a total transaction of $3,220,875.48. Following the transaction, the insider now owns 94,588 shares in the company, valued at $13,865,654.92. The disclosure for this sale can be found here. Insiders have sold a total of 37,167 shares of company stock worth $5,454,246 over the last quarter. 0.73% of the stock is currently owned by insiders.
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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