Resona Asset Management Co. Ltd. decreased its stake in The Travelers Companies, Inc. (NYSE:TRV – Free Report) by 3.2% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 86,346 shares of the insurance provider’s stock after selling 2,894 shares during the period. Resona Asset Management Co. Ltd.’s holdings in Travelers Companies were worth $25,070,000 at the end of the most recent quarter.
Other institutional investors also recently modified their holdings of the company. Brighton Jones LLC boosted its position in shares of Travelers Companies by 13.4% during the 4th quarter. Brighton Jones LLC now owns 3,277 shares of the insurance provider’s stock valued at $789,000 after purchasing an additional 387 shares in the last quarter. Revolve Wealth Partners LLC bought a new position in shares of Travelers Companies in the fourth quarter valued at approximately $276,000. WINTON GROUP Ltd bought a new position in shares of Travelers Companies in the second quarter valued at approximately $382,000. CIBC Asset Management Inc lifted its position in shares of Travelers Companies by 13.9% during the second quarter. CIBC Asset Management Inc now owns 68,537 shares of the insurance provider’s stock valued at $18,336,000 after purchasing an additional 8,383 shares in the last quarter. Finally, Treasurer of the State of North Carolina lifted its holdings in Travelers Companies by 2.0% during the second 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 period. 82.45% of the stock is owned by institutional investors.
Insider Buying and Selling
In other Travelers Companies news, EVP Diane Kurtzman sold 2,867 shares of the company’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 directly owned 5,298 shares in the company, valued at $1,607,678.10. This represents a 35.11% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Jeffrey P. Klenk sold 6,414 shares of the firm’s stock in a transaction on Monday, April 20th. The shares were sold at an average price of $305.06, for a total value of $1,956,654.84. Following the transaction, the executive vice president owned 6,075 shares in the company, valued at approximately $1,853,239.50. This represents a 51.36% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 27,573 shares of company stock worth $8,427,646 over the last ninety days. Corporate insiders own 1.39% of the company’s stock.
Travelers Companies Stock Down 0.2%
Travelers Companies (NYSE:TRV – Get Free Report) last announced its quarterly earnings data on Thursday, April 16th. The insurance provider reported $7.71 EPS for the quarter, beating the consensus estimate of $6.80 by $0.91. The firm had revenue of $11.92 billion for the quarter, compared to the consensus estimate 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 was down 1.7% on a year-over-year basis. During the same period last year, the firm earned $1.91 EPS. As a group, equities analysts forecast that The Travelers Companies, Inc. will post 28.03 EPS for the current year.
Travelers Companies declared that its board has authorized a stock repurchase program on Wednesday, January 21st that authorizes the company to buyback $5.00 billion in shares. This buyback authorization authorizes the insurance provider to reacquire up to 8.3% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s leadership believes its shares are undervalued.
Travelers Companies Increases Dividend
The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Wednesday, June 10th will be issued a dividend of $1.25 per share. This represents a $5.00 annualized dividend and a yield of 1.6%. The ex-dividend date is Wednesday, June 10th. This is a positive change from Travelers Companies’s previous quarterly dividend of $1.10. Travelers Companies’s payout ratio is currently 13.09%.
Wall Street Analyst Weigh In
Several brokerages have commented on TRV. Wells Fargo & Company lifted their price objective on shares of Travelers Companies from $285.00 to $305.00 and gave the stock an “equal weight” rating in a research report on Thursday, April 9th. Barclays increased their price objective on Travelers Companies from $312.00 to $331.00 and gave the company an “equal weight” rating in a research report on Wednesday, April 8th. Bank of America reduced their target price 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. Mizuho reduced their price target on Travelers Companies from $315.00 to $304.00 and set a “neutral” rating on the stock in a research report on Thursday, January 22nd. Finally, Weiss Ratings reissued a “buy (a-)” rating on shares of Travelers Companies in a report on Friday, May 8th. Two investment analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating, ten have given a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $309.13.
Get Our Latest Stock Report 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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