ProShare Advisors LLC increased its holdings in shares of The Travelers Companies, Inc. (NYSE:TRV – Free Report) by 13.6% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 164,558 shares of the insurance provider’s stock after acquiring an additional 19,702 shares during the period. ProShare Advisors LLC’s holdings in Travelers Companies were worth $47,732,000 at the end of the most recent quarter.
A number of other large investors have also bought and sold shares of TRV. Brighton Jones LLC grew its position in Travelers Companies by 13.4% during the 4th quarter. Brighton Jones LLC now owns 3,277 shares of the insurance provider’s stock worth $789,000 after acquiring an additional 387 shares during the last quarter. Revolve Wealth Partners LLC bought a new stake in Travelers Companies during the 4th quarter worth approximately $276,000. WINTON GROUP Ltd bought a new stake in Travelers Companies during the 2nd quarter worth approximately $382,000. CIBC Asset Management Inc grew its position in Travelers Companies by 13.9% during the 2nd quarter. CIBC Asset Management Inc now owns 68,537 shares of the insurance provider’s stock worth $18,336,000 after acquiring an additional 8,383 shares during the last quarter. Finally, Treasurer of the State of North Carolina grew its holdings in Travelers Companies by 2.0% during the 2nd quarter. Treasurer of the State of North Carolina now owns 105,605 shares of the insurance provider’s stock worth $28,254,000 after acquiring an additional 2,117 shares during the last quarter. 82.45% of the stock is currently owned by institutional investors.
Insider Buying and Selling
In other news, EVP Diane Kurtzman sold 2,867 shares of the firm’s stock in a transaction dated Monday, April 20th. The shares were sold at an average price of $303.45, for a total value of $869,991.15. Following the transaction, the executive vice president owned 5,298 shares of the company’s stock, valued at approximately $1,607,678.10. This trade represents a 35.11% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Avrohom J. Kess sold 6,735 shares of the firm’s stock in a transaction dated Tuesday, April 28th. The shares were sold at an average price of $308.78, for a total transaction of $2,079,633.30. Following the completion of the transaction, the insider directly owned 48,737 shares in the company, valued at $15,049,010.86. This trade represents a 12.14% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 27,573 shares of company stock worth $8,427,646. 1.39% of the stock is currently owned by company insiders.
Travelers Companies Stock Down 0.2%
Travelers Companies (NYSE:TRV – Get Free Report) last issued its earnings results on Thursday, April 16th. The insurance provider reported $7.71 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.80 by $0.91. The company had revenue of $11.92 billion for the quarter, compared to analyst estimates of $11.11 billion. Travelers Companies had a net margin of 15.54% and a return on equity of 24.06%. The company’s revenue for the quarter was down 1.7% on a year-over-year basis. During the same quarter last year, the firm earned $1.91 EPS. On average, analysts predict that The Travelers Companies, Inc. will post 28.03 earnings per share for the current year.
Travelers Companies declared that its board has initiated a stock buyback program on Wednesday, January 21st that authorizes the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization authorizes the insurance provider to repurchase up to 8.3% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s leadership believes its shares are undervalued.
Travelers Companies Increases Dividend
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Wednesday, June 10th will be paid a $1.25 dividend. This is a boost from Travelers Companies’s previous quarterly dividend of $1.10. The ex-dividend date of this dividend is Wednesday, June 10th. This represents a $5.00 annualized dividend and a dividend yield of 1.6%. Travelers Companies’s payout ratio is 13.09%.
Analyst Ratings Changes
A number of brokerages have commented on TRV. Roth Mkm reissued a “buy” rating on shares of Travelers Companies in a report on Monday, April 20th. Evercore reissued an “outperform” rating on shares of Travelers Companies in a report on Friday, April 17th. Bank of America decreased their price objective on shares of Travelers Companies from $259.00 to $257.00 and set an “underperform” rating on the stock in a report on Tuesday, April 14th. Citigroup reissued a “neutral” rating on shares of Travelers Companies in a report on Tuesday, January 27th. Finally, Brean Capital assumed coverage on shares of Travelers Companies in a report on Thursday, March 12th. They set a “neutral” rating on the stock. Two equities research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating, ten have assigned a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $309.13.
Get Our Latest Stock Analysis on Travelers Companies
Travelers Companies Company 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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