New York State Teachers Retirement System reduced its stake in The Travelers Companies, Inc. (NYSE:TRV) by 6.2% in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 442,680 shares of the insurance provider’s stock after selling 29,115 shares during the quarter. New York State Teachers Retirement System owned approximately 0.16% of The Travelers Companies worth $54,237,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. CWM LLC increased its position in The Travelers Companies by 4.9% in the 2nd quarter. CWM LLC now owns 794 shares of the insurance provider’s stock worth $100,000 after buying an additional 37 shares during the period. Westside Investment Management Inc. increased its position in The Travelers Companies by 361.1% in the 1st quarter. Westside Investment Management Inc. now owns 876 shares of the insurance provider’s stock worth $106,000 after buying an additional 686 shares during the period. Tradewinds Capital Management LLC increased its position in The Travelers Companies by 1.1% in the 2nd quarter. Tradewinds Capital Management LLC now owns 905 shares of the insurance provider’s stock worth $115,000 after buying an additional 10 shares during the period. Intellectus Partners LLC increased its position in The Travelers Companies by 4.6% in the 2nd quarter. Intellectus Partners LLC now owns 933 shares of the insurance provider’s stock worth $118,000 after buying an additional 41 shares during the period. Finally, Thompson Siegel & Walmsley LLC increased its position in The Travelers Companies by 3.6% in the 2nd quarter. Thompson Siegel & Walmsley LLC now owns 995 shares of the insurance provider’s stock worth $126,000 after buying an additional 35 shares during the period. Hedge funds and other institutional investors own 78.28% of the company’s stock.
The Travelers Companies (NYSE:TRV) last announced its earnings results 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 firm had revenue of $6.66 billion for the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same quarter last year, the business posted $2.40 EPS.
The Travelers Companies declared that its board has approved a share buyback program on Monday, September 11th that authorizes the company to buyback outstanding shares. This buyback authorization authorizes the insurance provider to reacquire shares of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board of directors believes its shares are undervalued.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 29th. Shareholders of record on Monday, December 11th will be paid a dividend of $0.72 per share. The ex-dividend date of this dividend is Friday, December 8th. This represents a $2.88 dividend on an annualized basis and a yield of 2.17%. The Travelers Companies’s dividend payout ratio (DPR) is presently 33.45%.
Several research analysts have commented on TRV shares. Zacks Investment Research downgraded The Travelers Companies from a “hold” rating to a “sell” rating in a research report on Tuesday, September 5th. ValuEngine raised The Travelers Companies from a “hold” rating to a “buy” rating in a research report on Friday, September 1st. Citigroup Inc. lifted their price target on 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 dropped their price target on 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 dropped their price target on 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 analysts have rated the stock with a sell rating, eight have assigned a hold rating and nine have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $128.54.
In other The Travelers Companies news, EVP John P. Clifford, Jr. sold 3,525 shares of the firm’s stock in a transaction on Thursday, August 10th. The stock was sold at an average price of $129.85, for a total transaction of $457,721.25. Following the transaction, the executive vice president now owns 9,658 shares in the company, valued at approximately $1,254,091.30. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Vice Chairman Jay S. Benet sold 16,566 shares of the firm’s stock in a transaction on Wednesday, August 9th. The stock was sold at an average price of $130.01, for a total value of $2,153,745.66. Following the transaction, the insider now owns 93,872 shares in the company, valued at approximately $12,204,298.72. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 30,409 shares of company stock worth $3,943,124. Corporate insiders own 0.82% of the company’s stock.
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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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