IFC Holdings Incorporated FL lessened its stake in shares of The Travelers Companies, Inc. (NYSE:TRV) by 15.4% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,289 shares of the insurance provider’s stock after selling 960 shares during the quarter. IFC Holdings Incorporated FL’s holdings in The Travelers Companies were worth $648,000 at the end of the most recent reporting period.
Other hedge funds also recently added to or reduced their stakes in the company. Carnick & Kubik Group LLC bought a new position in shares of The Travelers Companies during the 3rd quarter worth about $758,000. Robeco Institutional Asset Management B.V. bought a new position in shares of The Travelers Companies during the 3rd quarter worth about $78,058,000. DekaBank Deutsche Girozentrale boosted its position in shares of The Travelers Companies by 5.4% during the 2nd quarter. DekaBank Deutsche Girozentrale now owns 137,846 shares of the insurance provider’s stock worth $17,537,000 after purchasing an additional 7,042 shares in the last quarter. Palisade Asset Management LLC boosted its position in shares of The Travelers Companies by 2.2% during the 2nd quarter. Palisade Asset Management LLC now owns 18,569 shares of the insurance provider’s stock worth $2,350,000 after purchasing an additional 400 shares in the last quarter. Finally, IBM Retirement Fund boosted its position in shares of The Travelers Companies by 109.5% during the 2nd quarter. IBM Retirement Fund now owns 6,812 shares of the insurance provider’s stock worth $963,000 after purchasing an additional 3,561 shares in the last quarter. 78.28% of the stock is currently owned by institutional investors.
The Travelers Companies, Inc. (NYSE TRV) traded up 0.15% during trading on Tuesday, hitting $132.82. 191,616 shares of the company’s stock traded hands. The stock has a market cap of $36.65 billion, a P/E ratio of 13.23 and a beta of 1.20. The Travelers Companies, Inc. has a 12 month low of $103.45 and a 12 month high of $134.47. The company’s 50 day moving average is $125.71 and its 200-day moving average is $124.89.
The Travelers Companies (NYSE:TRV) last announced its quarterly earnings data on Thursday, October 19th. The insurance provider reported $0.91 earnings per share for the quarter, missing the Zacks’ consensus estimate of $2.10 by ($1.19). The business had revenue of $6.66 billion during the quarter, compared to analysts’ expectations of $6.46 billion. The Travelers Companies had a return on equity of 9.87% and a net margin of 8.56%. The Travelers Companies’s revenue for the quarter was up 4.2% compared to the same quarter last year. During the same quarter last year, the company posted $2.40 EPS. On average, analysts predict that The Travelers Companies, Inc. will post $7.50 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, December 29th. Stockholders of record on Monday, December 11th will be paid a $0.72 dividend. The ex-dividend date of this dividend is Friday, December 8th. This represents a $2.88 annualized dividend and a dividend yield of 2.17%. The Travelers Companies’s dividend payout ratio is presently 33.45%.
The Travelers Companies declared that its Board of Directors has initiated a stock repurchase program on Monday, September 11th that permits the company to repurchase outstanding shares. This repurchase authorization permits the insurance provider to reacquire shares of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s board believes its stock is undervalued.
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TRV has been the topic of a number of research analyst reports. Zacks Investment Research cut shares of The Travelers Companies from a “hold” rating to a “sell” rating in a research report on Tuesday, September 5th. ValuEngine raised shares of The Travelers Companies from a “hold” rating to a “buy” rating in a research report on Friday, September 1st. Citigroup Inc. increased their price objective on shares of The Travelers Companies from $140.00 to $150.00 and gave the stock a “buy” rating in a research report on Thursday, July 13th. Credit Suisse Group cut their price objective on shares of The Travelers Companies from $128.00 to $125.00 and set a “neutral” rating on the stock in a research report on Tuesday, September 12th. Finally, UBS AG cut their price objective on shares of The Travelers Companies from $126.00 to $125.00 and set a “neutral” rating on the stock in a research report on Tuesday, September 19th. Five investment analysts have rated the stock with a sell rating, eight have given a hold rating and nine have issued a buy rating to the stock. The Travelers Companies presently has an average rating of “Hold” and an average target price of $127.71.
In other news, EVP Gregory C. Toczydlowski sold 21,527 shares of the company’s stock in a transaction that occurred on Wednesday, August 2nd. The shares were sold at an average price of $129.30, for a total value of $2,783,441.10. Following the transaction, the executive vice president now owns 28,452 shares in the company, valued at $3,678,843.60. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Kenneth Franklin Spence III sold 4,800 shares of the company’s stock in a transaction that occurred on Monday, August 14th. The stock was sold at an average price of $128.73, for a total transaction of $617,904.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 57,936 shares of company stock worth $7,503,565. Insiders own 0.82% of the company’s stock.
The Travelers Companies Profile
The Travelers Companies, Inc is a holding company. The Company’s segments include Business and International Insurance; Bond & Specialty Insurance, and Personal Insurance. Through its subsidiaries, it provides commercial and personal property and casualty insurance products and services. The Business and International Insurance segment offers property and casualty insurance and insurance related services to its clients, in the United States and in Canada, as well as in the United Kingdom, the Republic of Ireland, Brazil and throughout other parts of the world.
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