Crossmark Global Holdings Inc. acquired a new stake in shares of The Travelers Companies, Inc. (NYSE:TRV) during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 38,812 shares of the insurance provider’s stock, valued at approximately $4,755,000.
Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. raised its stake in shares of The Travelers Companies by 1.0% during the second quarter. Vanguard Group Inc. now owns 21,769,557 shares of the insurance provider’s stock valued at $2,754,501,000 after purchasing an additional 217,625 shares during the period. BlackRock Inc. raised its stake in shares of The Travelers Companies by 2,395.6% during the first quarter. BlackRock Inc. now owns 20,403,051 shares of the insurance provider’s stock valued at $2,459,383,000 after purchasing an additional 19,585,476 shares during the period. State Street Corp raised its stake in shares of The Travelers Companies by 1.6% during the first quarter. State Street Corp now owns 18,949,803 shares of the insurance provider’s stock valued at $2,284,205,000 after purchasing an additional 304,049 shares during the period. FMR LLC raised its stake in shares of The Travelers Companies by 6.4% during the second quarter. FMR LLC now owns 7,020,581 shares of the insurance provider’s stock valued at $888,314,000 after purchasing an additional 424,036 shares during the period. Finally, AQR Capital Management LLC raised its stake in shares of The Travelers Companies by 9.4% during the first quarter. AQR Capital Management LLC now owns 3,026,207 shares of the insurance provider’s stock valued at $364,779,000 after purchasing an additional 260,838 shares during the period. Institutional investors own 78.28% of the company’s stock.
The Travelers Companies (NYSE:TRV) last issued its earnings results on Thursday, October 19th. The insurance provider reported $0.91 EPS for the quarter, missing analysts’ consensus estimates of $2.10 by ($1.19). The firm had revenue of $6.66 billion during the quarter, compared to analyst estimates of $6.46 billion. The Travelers Companies had a net margin of 8.56% and a return on equity of 9.87%. The business’s revenue for the quarter was up 4.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.40 earnings per share.
The company also recently announced a quarterly dividend, which will be paid on Friday, December 29th. Investors 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 dividend on an annualized basis and a dividend yield of 2.17%. The Travelers Companies’s payout ratio is 33.45%.
The Travelers Companies announced that its Board of Directors has approved a stock repurchase program on Monday, September 11th that allows the company to buyback outstanding shares. This buyback authorization allows the insurance provider to buy shares of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board believes its shares are undervalued.
In other The Travelers Companies news, EVP Kenneth Franklin Spence III sold 4,800 shares of the company’s stock in a transaction on Monday, August 14th. The stock was sold at an average price of $128.73, for a total value of $617,904.00. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP John P. Clifford, Jr. sold 3,525 shares of the company’s stock in a transaction on Thursday, August 10th. The shares were sold at an average price of $129.85, for a total value of $457,721.25. Following the completion of the sale, the executive vice president now owns 9,658 shares in the company, valued at $1,254,091.30. The disclosure for this sale can be found here. Insiders sold 30,409 shares of company stock valued at $3,943,124 over the last 90 days. 0.82% of the stock is currently owned by corporate insiders.
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A number of analysts have recently issued reports on TRV shares. Buckingham Research started coverage on shares of The Travelers Companies in a research note on Monday, September 11th. They set a “buy” rating and a $136.00 price objective on the stock. Citigroup Inc. reiterated a “buy” rating and set a $148.00 price objective (down previously from $150.00) on shares of The Travelers Companies in a research note on Monday, July 24th. ValuEngine upgraded shares of The Travelers Companies from a “hold” rating to a “buy” rating in a research note on Friday, September 1st. Royal Bank Of Canada reiterated a “buy” rating and set a $135.00 price objective on shares of The Travelers Companies in a research note on Monday, August 21st. Finally, Barclays PLC lifted their price objective on shares of The Travelers Companies from $119.00 to $122.00 and gave the company an “equal weight” rating in a research note on Friday, August 11th. Five equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and nine have given a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $128.54.
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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