Foundry Partners LLC Sells 18,666 Shares of The Travelers Cos. (TRV)
Foundry Partners LLC decreased its position in shares of The Travelers Cos. (NYSE:TRV) by 11.4% during the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 144,510 shares of the company’s stock after selling 18,666 shares during the period. The Travelers Cos. accounts for 0.9% of Foundry Partners LLC’s holdings, making the stock its 13th largest position. Foundry Partners LLC owned about 0.05% of The Travelers Cos. worth $16,554,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also modified their holdings of TRV. Stillwater Investment Management LLC boosted its position in shares of The Travelers Cos. by 3.2% in the third quarter. Stillwater Investment Management LLC now owns 1,782 shares of the company’s stock valued at $204,000 after buying an additional 55 shares during the period. Burke & Herbert Bank & Trust Co. purchased a new position in shares of The Travelers Cos. during the third quarter valued at about $203,000. McQueen Ball & Associates Inc. boosted its position in shares of The Travelers Cos. by 0.3% in the third quarter. McQueen Ball & Associates Inc. now owns 17,350 shares of the company’s stock valued at $1,987,000 after buying an additional 50 shares during the period. Burns J W & Co. Inc. NY boosted its position in shares of The Travelers Cos. by 0.4% in the third quarter. Burns J W & Co. Inc. NY now owns 3,343 shares of the company’s stock valued at $383,000 after buying an additional 13 shares during the period. Finally, BNP Paribas Arbitrage SA boosted its position in shares of The Travelers Cos. by 288.4% in the third quarter. BNP Paribas Arbitrage SA now owns 492,106 shares of the company’s stock valued at $56,371,000 after buying an additional 365,410 shares during the period. 80.09% of the stock is owned by institutional investors.
The Travelers Cos. (NYSE:TRV) traded up 0.02% during trading on Monday, hitting $111.84. 1,388,161 shares of the company’s stock were exchanged. The company’s 50-day moving average price is $110.81 and its 200 day moving average price is $114.31. The firm has a market cap of $31.77 billion, a price-to-earnings ratio of 11.35 and a beta of 1.03. The Travelers Cos. has a 12-month low of $101.23 and a 12-month high of $119.32.
The Travelers Cos. (NYSE:TRV) last announced its quarterly earnings data on Thursday, October 20th. The company reported $2.40 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.27 by $0.13. The firm earned $6.96 billion during the quarter, compared to analyst estimates of $6.37 billion. The Travelers Cos. had a net margin of 10.84% and a return on equity of 12.11%. The Travelers Cos.’s revenue was up 3.2% on a year-over-year basis. During the same period last year, the firm posted $2.93 EPS. Equities analysts forecast that The Travelers Cos. will post $9.51 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 30th. Investors of record on Friday, December 9th will be given a $0.67 dividend. This represents a $2.68 annualized dividend and a dividend yield of 2.40%. The ex-dividend date of this dividend is Wednesday, December 7th. The Travelers Cos.’s payout ratio is currently 27.29%.
Several research firms have recently weighed in on TRV. Zacks Investment Research raised shares of The Travelers Cos. from a “sell” rating to a “hold” rating in a report on Wednesday, August 31st. RBC Capital Markets reissued an “outperform” rating and set a $125.00 price objective (up from $120.00) on shares of The Travelers Cos. in a report on Sunday, July 24th. Credit Suisse Group AG reissued a “hold” rating and set a $111.00 price objective on shares of The Travelers Cos. in a report on Tuesday, August 23rd. Citigroup Inc. boosted their price objective on shares of The Travelers Cos. from $117.00 to $123.00 and gave the company a “neutral” rating in a report on Tuesday, October 11th. Finally, Barclays PLC reissued an “equal weight” rating and set a $109.00 price objective (up from $105.00) on shares of The Travelers Cos. in a report on Saturday, October 1st. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and four have issued a buy rating to the stock. The Travelers Cos. currently has an average rating of “Hold” and a consensus price target of $117.64.
In related news, Vice Chairman Jay S. Benet sold 5,808 shares of the stock in a transaction that occurred on Monday, August 29th. The shares were sold at an average price of $118.31, for a total value of $687,144.48. Following the completion of the transaction, the insider now directly owns 71,287 shares of the company’s stock, valued at approximately $8,433,964.97. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Philip T. Ruegger III acquired 2,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 9th. The stock was bought at an average cost of $107.19 per share, with a total value of $214,380.00. Following the completion of the transaction, the director now directly owns 22,443 shares in the company, valued at $2,405,665.17. The disclosure for this purchase can be found here. 1.34% of the stock is currently owned by corporate insiders.
The Travelers Cos. Company Profile
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.
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