Illinois Municipal Retirement Fund reduced its position in shares of The Travelers Companies, Inc. (NYSE:TRV – Free Report) by 3.8% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 107,706 shares of the insurance provider’s stock after selling 4,203 shares during the period. Illinois Municipal Retirement Fund’s holdings in Travelers Companies were worth $38,398,000 at the end of the most recent quarter.
Other institutional investors also recently modified their holdings of the company. Barrow Hanley Mewhinney & Strauss LLC acquired a new stake in shares of Travelers Companies during the second quarter valued at approximately $4,447,000. Bank of Nova Scotia acquired a new position in Travelers Companies in the 2nd quarter worth approximately $19,949,000. Haverford Trust Co acquired a new position in Travelers Companies in the 2nd quarter worth approximately $1,723,000. Sumitomo Life Insurance Co. purchased a new position in Travelers Companies during the 2nd quarter worth approximately $1,676,000. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new position in Travelers Companies during the 2nd quarter worth approximately $53,050,000. Institutional investors own 82.45% of the company’s stock.
Insider Activity at Travelers Companies
In other news, EVP Jeffrey Klenk sold 9,016 shares of Travelers Companies stock in a transaction dated Thursday, October 22nd. The stock was sold at an average price of $405.57, for a total transaction of $3,656,619.12. Following the completion of the sale, the executive vice president directly owned 6,075 shares in the company, valued at $2,463,837.75. The trade was a 59.74% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP David Rowland sold 5,000 shares of Travelers Companies stock in a transaction dated Thursday, October 22nd. The shares were sold at an average price of $405.62, for a total value of $2,028,100.00. Following the sale, the executive vice president owned 10,479 shares of the company’s stock, valued at approximately $4,250,491.98. This represents a 32.30% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 195,287 shares of company stock worth $77,818,050. 1.39% of the stock is currently owned by corporate insiders.
Wall Street Analysts Forecast Growth
Several analysts have issued reports on TRV shares. Argus boosted their target price on shares of Travelers Companies from $330.00 to $400.00 and gave the company a “buy” rating in a research note on Tuesday, July 21st. Weiss Ratings raised Travelers Companies from a “buy (a)” rating to a “buy (a+)” rating in a research report on Friday, October 9th. Cantor Fitzgerald lifted their price target on Travelers Companies from $378.00 to $397.00 and gave the company an “overweight” rating in a report on Monday, October 26th. HSBC upped their price target on Travelers Companies from $376.00 to $389.00 and gave the company a “hold” rating in a research report on Monday, October 19th. Finally, Citigroup reissued a “neutral” rating on shares of Travelers Companies in a research note on Friday, October 16th. Two research analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating, fifteen have given a Hold rating and four have issued a Sell rating to the company. According to MarketBeat.com, Travelers Companies has a consensus rating of “Hold” and a consensus target price of $370.83.
Check Out Our Latest Stock Analysis on TRV
Travelers Companies Trading Up 1.4%
NYSE TRV opened at $400.89 on Wednesday. The Travelers Companies, Inc. has a 1-year low of $268.00 and a 1-year high of $418.00. The company has a current ratio of 0.33, a quick ratio of 0.33 and a debt-to-equity ratio of 0.34. The company has a market capitalization of $82.16 billion, a PE ratio of 10.51, a price-to-earnings-growth ratio of 2.73 and a beta of 0.40. The firm’s fifty day simple moving average is $378.86 and its 200-day simple moving average is $333.99.
Travelers Companies (NYSE:TRV – Get Free Report) last announced its quarterly earnings data on Friday, October 16th. The insurance provider reported $9.18 earnings per share (EPS) for the quarter, topping the consensus estimate of $7.39 by $1.79. The business had revenue of $12.41 billion during the quarter, compared to analyst estimates of $11.36 billion. Travelers Companies had a return on equity of 26.19% and a net margin of 17.03%. Travelers Companies’s quarterly revenue was down .5% compared to the same quarter last year. During the same period last year, the company earned $8.14 earnings per share. As a group, sell-side analysts anticipate that The Travelers Companies, Inc. will post 36.27 earnings per share for the current fiscal year.
Travelers Companies Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Thursday, December 31st. Shareholders of record on Thursday, December 10th will be given a $1.25 dividend. This represents a $5.00 annualized dividend and a yield of 1.2%. The ex-dividend date of this dividend is Thursday, December 10th. Travelers Companies’s dividend payout ratio is presently 13.11%.
Travelers Companies Profile
The Travelers Companies, Inc. is a property and casualty insurance provider serving individuals, businesses and organizations. Its products include personal auto and homeowners insurance, as well as commercial coverage such as property, general liability, workers’ compensation and commercial auto insurance. The company also provides surety bonds and specialty insurance, including coverage for businesses and professional services. Travelers distributes many of its products through independent agents and brokers.
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