Parsec Financial Management Inc. Sells 1,840 Shares of The Travelers Cos. (TRV)
Parsec Financial Management Inc. reduced its position in The Travelers Cos. (NYSE:TRV) by 2.0% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 88,530 shares of the company’s stock after selling 1,840 shares during the period. Parsec Financial Management Inc.’s holdings in The Travelers Cos. were worth $10,539,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Bank of Montreal Can acquired a new position in The Travelers Cos. during the second quarter worth about $374,228,000. UBS Asset Management Americas Inc. boosted its stake in The Travelers Cos. by 32.7% in the first quarter. UBS Asset Management Americas Inc. now owns 2,236,907 shares of the company’s stock worth $261,070,000 after buying an additional 551,568 shares during the period. Marathon Asset Management LLP boosted its stake in The Travelers Cos. by 2.0% in the second quarter. Marathon Asset Management LLP now owns 1,138,351 shares of the company’s stock worth $135,507,000 after buying an additional 21,815 shares during the period. James Investment Research Inc. boosted its stake in The Travelers Cos. by 2.9% in the second quarter. James Investment Research Inc. now owns 839,004 shares of the company’s stock worth $99,875,000 after buying an additional 23,369 shares during the period. Finally, Robeco Institutional Asset Management B.V. boosted its stake in The Travelers Cos. by 0.3% in the second quarter. Robeco Institutional Asset Management B.V. now owns 812,015 shares of the company’s stock worth $96,664,000 after buying an additional 2,267 shares during the period. Institutional investors own 80.13% of the company’s stock.
Shares of The Travelers Cos. (NYSE:TRV) traded up 1.43% on Friday, hitting $114.80. 1,226,762 shares of the company’s stock traded hands. The Travelers Cos. has a 1-year low of $101.23 and a 1-year high of $119.32. The firm’s 50-day moving average price is $115.93 and its 200 day moving average price is $115.10. The company has a market cap of $33.09 billion, a price-to-earnings ratio of 11.05 and a beta of 1.14.
The Travelers Cos. (NYSE:TRV) last released its quarterly earnings results on Thursday, July 21st. The company reported $2.24 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $2.19 by $0.05. The Travelers Cos. had a return on equity of 13.06% and a net margin of 11.70%. The business earned $6.79 billion during the quarter, compared to analysts’ expectations of $6.37 billion. During the same period in the previous year, the business posted $2.52 earnings per share. The firm’s revenue for the quarter was up 2.3% compared to the same quarter last year. On average, equities research analysts expect that The Travelers Cos. will post $9.54 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Friday, September 30th. Investors of record on Friday, September 9th were issued a $0.67 dividend. The ex-dividend date was Wednesday, September 7th. This represents a $2.68 dividend on an annualized basis and a dividend yield of 2.37%. The Travelers Cos.’s dividend payout ratio is 25.92%.
A number of research firms recently weighed in on TRV. Citigroup Inc. reaffirmed a “neutral” rating on shares of The Travelers Cos. in a report on Tuesday, June 21st. Royal Bank Of Canada increased their price objective on shares of The Travelers Cos. from $120.00 to $125.00 and gave the stock an “outperform” rating in a report on Friday, July 22nd. BMO Capital Markets reaffirmed a “market perform” rating and issued a $120.00 price objective (up previously from $117.00) on shares of The Travelers Cos. in a report on Tuesday, July 12th. Credit Suisse Group AG set a $111.00 price objective on shares of The Travelers Cos. and gave the stock a “hold” rating in a report on Monday, September 12th. Finally, Zacks Investment Research cut shares of The Travelers Cos. from a “hold” rating to a “sell” rating in a report on Wednesday, June 29th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and four have assigned a buy rating to the company’s stock. The Travelers Cos. has an average rating of “Hold” and a consensus target price of $116.75.
In other The Travelers Cos. news, Vice Chairman William H. Heyman sold 4,246 shares of the business’s stock in a transaction dated Wednesday, August 31st. The stock was sold at an average price of $118.98, for a total transaction of $505,189.08. Following the completion of the sale, the insider now directly owns 231,500 shares of the company’s stock, valued at approximately $27,543,870. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Vice Chairman William H. Heyman sold 4,000 shares of the business’s stock in a transaction dated Tuesday, July 26th. The stock was sold at an average price of $117.88, for a total value of $471,520.00. Following the sale, the insider now directly owns 236,254 shares of the company’s stock, valued at $27,849,621.52. The disclosure for this sale can be found here. 1.34% of the stock is owned by corporate insiders.
About The Travelers Cos.
The Travelers Companies, Inc is a holding company. The Company, through its subsidiaries, is engaged in providing a range of commercial and personal property and casualty insurance products and services to businesses, government units, associations and individuals. It operates through three segments: Business and International Insurance; Bond & Specialty Insurance, and Personal Insurance.
Receive News & Stock Ratings for The Travelers Cos. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for The Travelers Cos. and related stocks with our FREE daily email newsletter.