Carret Asset Management LLC lowered its stake in shares of Travelers Companies Inc (NYSE:TRV) by 2.3% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 53,117 shares of the insurance provider’s stock after selling 1,245 shares during the quarter. Travelers Companies makes up about 1.1% of Carret Asset Management LLC’s holdings, making the stock its 23rd biggest position. Carret Asset Management LLC’s holdings in Travelers Companies were worth $6,508,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds also recently added to or reduced their stakes in the company. Tradewinds Capital Management LLC raised its holdings in Travelers Companies by 1.1% during the second quarter. Tradewinds Capital Management LLC now owns 905 shares of the insurance provider’s stock worth $115,000 after purchasing an additional 10 shares in the last quarter. Intellectus Partners LLC raised its holdings in Travelers Companies by 4.6% during the second quarter. Intellectus Partners LLC now owns 933 shares of the insurance provider’s stock worth $118,000 after purchasing an additional 41 shares in the last quarter. Thompson Siegel & Walmsley LLC raised its holdings in Travelers Companies by 3.6% during the second quarter. Thompson Siegel & Walmsley LLC now owns 995 shares of the insurance provider’s stock worth $126,000 after purchasing an additional 35 shares in the last quarter. Omnia Family Wealth LLC raised its holdings in Travelers Companies by 4.7% during the second quarter. Omnia Family Wealth LLC now owns 1,015 shares of the insurance provider’s stock worth $128,000 after purchasing an additional 46 shares in the last quarter. Finally, Security National Trust Co. raised its holdings in Travelers Companies by 260.9% during the third quarter. Security National Trust Co. now owns 1,043 shares of the insurance provider’s stock worth $128,000 after purchasing an additional 754 shares in the last quarter. 78.52% of the stock is currently owned by institutional investors.
In related news, EVP Michael Frederick Klein sold 20,077 shares of Travelers Companies stock in a transaction on Tuesday, November 21st. The shares were sold at an average price of $130.68, for a total value of $2,623,662.36. Following the transaction, the executive vice president now directly owns 21,619 shares in the company, valued at approximately $2,825,170.92. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Maria Olivo sold 33,225 shares of Travelers Companies stock in a transaction on Wednesday, November 29th. The shares were sold at an average price of $134.18, for a total transaction of $4,458,130.50. The disclosure for this sale can be found here. Over the last quarter, insiders sold 55,302 shares of company stock worth $7,347,753. 0.82% of the stock is currently owned by insiders.
Travelers Companies (NYSE:TRV) last posted its quarterly earnings data on Thursday, October 19th. The insurance provider reported $0.91 earnings per share for the quarter, missing analysts’ consensus estimates of $2.10 by ($1.19). Travelers Companies had a net margin of 8.56% and a return on equity of 9.87%. The firm had revenue of $6.66 billion during the quarter, compared to analysts’ expectations of $6.46 billion. During the same quarter last year, the business earned $2.40 earnings per share. The business’s quarterly revenue was up 4.2% on a year-over-year basis. equities research analysts anticipate that Travelers Companies Inc will post 6.76 earnings per share for the current year.
Travelers Companies declared that its board has authorized a share repurchase plan on Monday, September 11th that permits the company to repurchase outstanding shares. This repurchase authorization permits the insurance provider to repurchase shares of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board of directors believes its stock is undervalued.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 29th. Investors of record on Monday, December 11th will be given a $0.72 dividend. The ex-dividend date is Friday, December 8th. This represents a $2.88 dividend on an annualized basis and a yield of 2.13%. Travelers Companies’s dividend payout ratio (DPR) is 33.45%.
A number of equities analysts have recently issued reports on the stock. Keefe, Bruyette & Woods restated a “buy” rating and set a $152.00 target price on shares of Travelers Companies in a research report on Wednesday. Goldman Sachs Group assumed coverage on shares of Travelers Companies in a research report on Monday. They set a “sell” rating and a $124.00 target price on the stock. Wells Fargo & Company set a $125.00 target price on shares of Travelers Companies and gave the stock a “hold” rating in a research report on Tuesday, November 14th. B. Riley restated a “neutral” rating on shares of Travelers Companies in a research report on Monday, November 6th. Finally, UBS raised their target price on shares of Travelers Companies from $131.00 to $139.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 1st. Four investment analysts have rated the stock with a sell rating, nine have given a hold rating and nine have issued a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $131.71.
About Travelers Companies
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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