Tocqueville Asset Management L.P. reduced its holdings in shares of The Travelers Companies, Inc. (NYSE:TRV) by 5.4% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 31,501 shares of the insurance provider’s stock after selling 1,808 shares during the period. Tocqueville Asset Management L.P.’s holdings in The Travelers Companies were worth $3,860,000 as of its most recent SEC filing.
A number of other institutional investors have also modified their holdings of TRV. Schafer Cullen Capital Management Inc. grew its holdings in The Travelers Companies by 7.0% during the 1st quarter. Schafer Cullen Capital Management Inc. now owns 1,041,652 shares of the insurance provider’s stock worth $125,561,000 after acquiring an additional 68,383 shares during the period. Hyman Charles D grew its stake in shares of The Travelers Companies by 8.2% in the 1st quarter. Hyman Charles D now owns 32,451 shares of the insurance provider’s stock valued at $3,912,000 after buying an additional 2,450 shares during the period. BB&T Securities LLC grew its stake in shares of The Travelers Companies by 7.3% in the 1st quarter. BB&T Securities LLC now owns 152,831 shares of the insurance provider’s stock valued at $18,421,000 after buying an additional 10,445 shares during the period. LMR Partners LLP acquired a new stake in shares of The Travelers Companies in the 1st quarter valued at about $859,000. Finally, ZWJ Investment Counsel Inc. acquired a new stake in shares of The Travelers Companies in the 1st quarter valued at about $312,000. Hedge funds and other institutional investors own 78.36% of the company’s stock.
Several analysts have recently commented on the company. Argus raised their target price on The Travelers Companies from $139.00 to $145.00 and gave the company a “positive” rating in a research note on Monday, October 23rd. They noted that the move was a valuation call. Morgan Stanley raised their target price on The Travelers Companies from $119.00 to $124.00 and gave the company an “underweight” rating in a research note on Friday, October 20th. Citigroup Inc. raised their target price on The Travelers Companies from $143.00 to $151.00 and gave the company a “buy” rating in a research note on Friday, October 20th. Royal Bank Of Canada raised their target price on The Travelers Companies to $140.00 and gave the company an “outperform” rating in a research note on Friday, October 20th. Finally, Zacks Investment Research upgraded The Travelers Companies from a “sell” rating to a “hold” rating in a research note on Wednesday, November 1st. Five investment analysts have rated the stock with a sell rating, eight have issued a hold rating and nine have assigned a buy rating to the stock. The Travelers Companies presently has a consensus rating of “Hold” and an average target price of $128.54.
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In related news, EVP John P. Clifford, Jr. sold 3,525 shares of The Travelers Companies stock in a transaction that occurred 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 sale, the executive vice president now owns 9,658 shares of the company’s stock, valued at approximately $1,254,091.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Kenneth Franklin Spence III sold 4,800 shares of The Travelers Companies 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. Insiders sold a total of 24,891 shares of company stock worth $3,229,371 in the last ninety days. 0.82% of the stock is currently owned by insiders.
The Travelers Companies, Inc. (NYSE:TRV) opened at $133.32 on Monday. The Travelers Companies, Inc. has a 1 year low of $103.45 and a 1 year high of $135.71. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.41 and a current ratio of 0.41. The company has a market cap of $36,489.14, a P/E ratio of 16.28, a price-to-earnings-growth ratio of 2.37 and a beta of 1.26.
The Travelers Companies (NYSE:TRV) last posted its earnings results on Thursday, October 19th. The insurance provider reported $0.91 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $2.10 by ($1.19). The Travelers Companies had a return on equity of 9.87% and a net margin of 8.56%. The firm had revenue of $6.66 billion for the quarter, compared to the consensus estimate of $6.46 billion. During the same period in the prior year, the business earned $2.40 EPS. The Travelers Companies’s quarterly revenue was up 4.2% compared to the same quarter last year. sell-side analysts forecast that The Travelers Companies, Inc. will post 7.5 earnings per share for the current year.
The Travelers Companies declared that its board has authorized a share repurchase plan on Monday, September 11th that allows the company to repurchase shares. This repurchase authorization allows the insurance provider to purchase shares of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s management believes its shares are undervalued.
The business also recently declared a quarterly dividend, which will be paid on Friday, December 29th. Investors of record on Monday, December 11th will be issued 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 2.16%. The Travelers Companies’s dividend payout ratio (DPR) is presently 33.45%.
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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