Hexavest Inc. Sells 52,277 Shares of The Travelers Cos. (TRV)
Hexavest Inc. decreased its position in shares of The Travelers Cos. (NYSE:TRV) by 9.0% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 527,410 shares of the company’s stock after selling 52,277 shares during the period. The Travelers Cos. comprises approximately 1.0% of Hexavest Inc.’s holdings, making the stock its 28th largest position. Hexavest Inc. owned 0.18% of The Travelers Cos. worth $60,415,000 at the end of the most recent quarter.
Several other large investors have also recently added to or reduced their stakes in TRV. Legacy Private Trust Co. increased its stake in The Travelers Cos. by 2.1% in the third quarter. Legacy Private Trust Co. now owns 61,346 shares of the company’s stock worth $7,027,000 after buying an additional 1,251 shares in the last quarter. Culbertson A N & Co. Inc. increased its stake in The Travelers Cos. by 0.9% in the third quarter. Culbertson A N & Co. Inc. now owns 24,508 shares of the company’s stock worth $2,807,000 after buying an additional 215 shares in the last quarter. Creative Planning increased its stake in The Travelers Cos. by 38.8% in the third quarter. Creative Planning now owns 41,326 shares of the company’s stock worth $4,734,000 after buying an additional 11,551 shares in the last quarter. Bristlecone Advisors LLC increased its stake in The Travelers Cos. by 1.1% in the third quarter. Bristlecone Advisors LLC now owns 33,230 shares of the company’s stock worth $3,806,000 after buying an additional 370 shares in the last quarter. Finally, First Financial Bank N.A. Trust Division increased its stake in The Travelers Cos. by 4.9% in the third quarter. First Financial Bank N.A. Trust Division now owns 2,418 shares of the company’s stock worth $277,000 after buying an additional 112 shares in the last quarter. Institutional investors and hedge funds own 80.09% of the company’s stock.
The Travelers Cos. (NYSE:TRV) traded up 0.34% on Friday, reaching $113.45. The company had a trading volume of 686,329 shares. The stock’s 50 day moving average is $110.76 and its 200-day moving average is $114.33. The Travelers Cos. has a 1-year low of $101.23 and a 1-year high of $119.32. The stock has a market capitalization of $32.23 billion, a P/E ratio of 11.51 and a beta of 1.03.
The Travelers Cos. (NYSE:TRV) last announced its quarterly earnings data on Thursday, October 20th. The company reported $2.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.27 by $0.13. The Travelers Cos. had a return on equity of 12.11% and a net margin of 10.84%. The firm earned $6.96 billion during the quarter, compared to analysts’ expectations of $6.37 billion. During the same period last year, the business posted $2.93 earnings per share. The company’s revenue for the quarter was up 3.2% compared to the same quarter last year. On average, equities analysts predict that The Travelers Cos. will post $9.51 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 30th. Stockholders of record on Friday, December 9th will be paid a $0.67 dividend. This represents a $2.68 annualized dividend and a dividend yield of 2.36%. The ex-dividend date of this dividend is Wednesday, December 7th. The Travelers Cos.’s payout ratio is 27.29%.
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A number of equities research analysts have issued reports on the company. William Blair downgraded The Travelers Cos. from a “market perform” rating to an “underperform” rating in a research note on Thursday, November 17th. Citigroup Inc. boosted their price target on The Travelers Cos. from $117.00 to $123.00 and gave the company a “neutral” rating in a research note on Tuesday, October 11th. Barclays PLC restated an “equal weight” rating and set a $109.00 price target (up from $105.00) on shares of The Travelers Cos. in a research note on Saturday, October 1st. Credit Suisse Group AG set a $111.00 price target on The Travelers Cos. and gave the company a “hold” rating in a research note on Monday, September 12th. Finally, Zacks Investment Research upgraded The Travelers Cos. from a “sell” rating to a “hold” rating in a research note on Wednesday, August 31st. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have issued a buy rating to the company’s stock. The Travelers Cos. currently has a consensus rating of “Hold” and an average price target of $117.64.
In related news, Director Philip T. Ruegger III bought 2,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 9th. The shares were purchased at an average cost of $107.19 per share, with a total value of $214,380.00. Following the completion of the acquisition, the director now directly owns 22,443 shares in the company, valued at $2,405,665.17. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Vice Chairman Jay S. Benet sold 5,808 shares of the firm’s stock in a transaction dated Monday, August 29th. The stock was sold at an average price of $118.31, for a total value of $687,144.48. Following the sale, the insider now directly owns 71,287 shares in the company, valued at $8,433,964.97. The disclosure for this sale can be found here. 1.34% of the stock is owned by 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.
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