Centaurus Financial Inc. acquired a new position in The Travelers Companies, Inc. (NYSE:TRV – Free Report) during the second quarter, HoldingsChannel reports. The fund acquired 1,555 shares of the insurance provider’s stock, valued at approximately $513,000.
Several other large investors also recently made changes to their positions in TRV. Brighton Jones LLC increased its stake in shares of Travelers Companies by 13.4% in the fourth quarter. Brighton Jones LLC now owns 3,277 shares of the insurance provider’s stock valued at $789,000 after buying an additional 387 shares in the last quarter. Revolve Wealth Partners LLC acquired a new position in Travelers Companies during the 4th quarter worth about $276,000. WINTON GROUP Ltd bought a new stake in Travelers Companies during the 2nd quarter worth about $382,000. CIBC Asset Management Inc increased its position in Travelers Companies by 13.9% in the 2nd quarter. CIBC Asset Management Inc now owns 68,537 shares of the insurance provider’s stock valued at $18,336,000 after acquiring an additional 8,383 shares in the last quarter. Finally, Treasurer of the State of North Carolina increased its position in Travelers Companies by 2.0% in the 2nd quarter. Treasurer of the State of North Carolina now owns 105,605 shares of the insurance provider’s stock valued at $28,254,000 after acquiring an additional 2,117 shares in the last quarter. Institutional investors own 82.45% of the company’s stock.
Insider Transactions at Travelers Companies
In other news, EVP Michael Frederick Klein sold 6,000 shares of the stock in a transaction on Tuesday, July 21st. The stock was sold at an average price of $366.09, for a total value of $2,196,540.00. Following the transaction, the executive vice president owned 45,125 shares of the company’s stock, valued at $16,519,811.25. This represents a 11.74% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Mojgan M. Lefebvre sold 16,313 shares of the firm’s stock in a transaction on Tuesday, July 21st. The stock was sold at an average price of $368.38, for a total value of $6,009,382.94. Following the completion of the transaction, the executive vice president owned 9,213 shares in the company, valued at $3,393,884.94. This represents a 63.91% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 52,667 shares of company stock valued at $19,611,829. 1.39% of the stock is currently owned by company insiders.
Travelers Companies Stock Performance
Travelers Companies (NYSE:TRV – Get Free Report) last issued its earnings results on Friday, July 17th. The insurance provider reported $10.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.41 by $4.63. Travelers Companies had a net margin of 16.95% and a return on equity of 25.41%. The company had revenue of $12.15 billion for the quarter, compared to analyst estimates of $11.26 billion. During the same quarter last year, the firm earned $6.51 EPS. The company’s revenue for the quarter was up .3% on a year-over-year basis. Equities analysts predict that The Travelers Companies, Inc. will post 33.82 earnings per share for the current year.
Travelers Companies Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Thursday, September 10th will be paid a $1.25 dividend. The ex-dividend date of this dividend is Thursday, September 10th. This represents a $5.00 dividend on an annualized basis and a yield of 1.4%. Travelers Companies’s dividend payout ratio (DPR) is presently 13.39%.
Analyst Upgrades and Downgrades
A number of brokerages have recently issued reports on TRV. Zacks Research upgraded shares of Travelers Companies from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, July 29th. Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $356.00 price target (up from $342.00) on shares of Travelers Companies in a report on Wednesday, July 8th. BMO Capital Markets cut shares of Travelers Companies from an “outperform” rating to a “market perform” rating and boosted their price objective for the stock from $314.00 to $379.00 in a research report on Tuesday, July 21st. Wells Fargo & Company upped their price objective on Travelers Companies from $295.00 to $334.00 and gave the stock an “equal weight” rating in a report on Thursday, July 9th. Finally, Morgan Stanley increased their price objective on Travelers Companies from $290.00 to $330.00 and gave the company an “underweight” rating in a research report on Tuesday, July 21st. Four research 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 given a Sell rating to the company. Based on data from MarketBeat.com, Travelers Companies currently has a consensus rating of “Hold” and a consensus target price of $354.26.
Read Our Latest Report on Travelers Companies
About Travelers Companies
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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