Sumitomo Life Insurance Co. acquired a new position in The Travelers Companies, Inc. (NYSE:TRV – Free Report) during the 2nd quarter, Holdings Channel reports. The firm acquired 5,955 shares of the insurance provider’s stock, valued at approximately $1,313,000.
A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Vanguard Group Inc. grew its position in Travelers Companies by 0.5% during the fourth quarter. Vanguard Group Inc. now owns 22,109,933 shares of the insurance provider’s stock valued at $6,413,207,000 after buying an additional 110,311 shares during the period. BlackRock Inc. bought a new position in Travelers Companies in the second quarter worth approximately $6,915,909,000. State Street Corp raised its position in Travelers Companies by 3.1% in the fourth quarter. State Street Corp now owns 16,000,457 shares of the insurance provider’s stock worth $4,641,093,000 after acquiring an additional 486,861 shares during the period. Morgan Stanley boosted its stake in shares of Travelers Companies by 2.3% during the 4th quarter. Morgan Stanley now owns 3,793,750 shares of the insurance provider’s stock worth $1,100,416,000 after acquiring an additional 85,298 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in shares of Travelers Companies by 3.7% during the 1st quarter. Dimensional Fund Advisors LP now owns 3,484,676 shares of the insurance provider’s stock worth $1,016,433,000 after acquiring an additional 123,564 shares during the last quarter. Hedge funds and other institutional investors own 82.45% of the company’s stock.
Analysts Set New Price Targets
Several equities research analysts have recently commented on TRV shares. HSBC upped their price objective on Travelers Companies from $321.00 to $351.00 and gave the stock a “hold” rating in a research note on Monday, July 6th. JPMorgan Chase & Co. raised Travelers Companies from an “underweight” rating to a “neutral” rating and boosted their price target for the company from $316.00 to $322.00 in a report on Tuesday, May 26th. Weiss Ratings raised Travelers Companies from a “buy (a-)” rating to a “buy (a)” rating in a report on Thursday. Evercore set a $329.00 price target on Travelers Companies and gave the stock an “in-line” rating in a research report on Friday, July 10th. Finally, Citigroup reaffirmed a “market perform” rating on shares of Travelers Companies in a research note on Monday, July 20th. Four investment analysts have rated the stock with a Strong Buy rating, four have given a Buy rating, thirteen have assigned a Hold rating and five have issued a Sell rating to the company. According to data from MarketBeat.com, Travelers Companies presently has a consensus rating of “Hold” and an average target price of $354.26.
Insiders Place Their Bets
In related news, EVP Michael Frederick Klein sold 10,000 shares of Travelers Companies stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $307.65, for a total transaction of $3,076,500.00. Following the sale, the executive vice president owned 45,125 shares of the company’s stock, valued at approximately $13,882,706.25. This trade represents a 18.14% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Daniel Tei-Hwa Yin sold 7,153 shares of the business’s stock in a transaction that occurred on Friday, July 24th. The stock was sold at an average price of $387.00, for a total value of $2,768,211.00. Following the completion of the transaction, the executive vice president directly owned 68,834 shares in the company, valued at approximately $26,638,758. This represents a 9.41% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 62,667 shares of company stock valued at $22,688,329. Insiders own 1.39% of the company’s stock.
Travelers Companies Stock Performance
Shares of NYSE TRV opened at $363.83 on Friday. The stock has a market cap of $75.88 billion, a PE ratio of 9.74, a price-to-earnings-growth ratio of 3.46 and a beta of 0.45. The Travelers Companies, Inc. has a 1 year low of $252.26 and a 1 year high of $398.70. The firm has a fifty day moving average price of $352.28 and a 200-day moving average price of $318.12. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.33 and a quick ratio of 0.33.
Travelers Companies (NYSE:TRV – Get Free Report) last released its earnings results on Friday, July 17th. The insurance provider reported $10.04 earnings per share for the quarter, beating analysts’ consensus estimates of $5.41 by $4.63. The company had revenue of $12.15 billion for the quarter, compared to analysts’ expectations of $11.26 billion. Travelers Companies had a net margin of 16.95% and a return on equity of 25.41%. Travelers Companies’s revenue for the quarter was up .3% on a year-over-year basis. During the same quarter in the previous year, the company earned $6.51 EPS. Equities analysts anticipate that The Travelers Companies, Inc. will post 33.82 earnings per share for the current fiscal year.
Travelers Companies Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Thursday, September 10th will be given a $1.25 dividend. This represents a $5.00 annualized dividend and a dividend yield of 1.4%. The ex-dividend date is Thursday, September 10th. Travelers Companies’s payout ratio is presently 13.39%.
Travelers Companies Profile
The Travelers Companies, Inc (NYSE: TRV) is a leading provider of property and casualty insurance products and services. The company underwrites a broad range of commercial and personal insurance lines, offering coverage designed to protect individuals, small and midsize businesses, and large corporate clients against property loss, liability, and other operational risks. Travelers is known for combining underwriting, claims management and risk control services to help clients prevent losses and recover when incidents occur.
On the commercial side, Travelers writes primary and specialty coverages including property, general liability, commercial auto, workers’ compensation, professional and management liability, surety and inland marine.
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