The Travelers Cos. (TRV) Shares Bought by Legacy Private Trust Co.
Legacy Private Trust Co. boosted its stake in shares of The Travelers Cos. (NYSE:TRV) by 2.1% during the third quarter, according to its most recent 13F filing with the SEC. The fund owned 61,346 shares of the company’s stock after buying an additional 1,251 shares during the period. The Travelers Cos. accounts for 1.0% of Legacy Private Trust Co.’s portfolio, making the stock its 24th largest position. Legacy Private Trust Co.’s holdings in The Travelers Cos. were worth $7,027,000 as of its most recent SEC filing.
Other institutional investors have also recently modified their holdings of the company. Cohen & Steers Inc. boosted its position in shares of The Travelers Cos. by 573,761.8% in the second quarter. Cohen & Steers Inc. now owns 6,312,480 shares of the company’s stock valued at $672,090,000 after buying an additional 6,311,380 shares during the period. Bank of Montreal Can bought a new stake in The Travelers Cos. during the second quarter valued at $374,228,000. TIAA CREF Investment Management LLC raised its stake in The Travelers Cos. by 46.7% in the second quarter. TIAA CREF Investment Management LLC now owns 1,606,286 shares of the company’s stock valued at $191,212,000 after buying an additional 511,608 shares in the last quarter. Emerald Acquisition Ltd. bought a new stake in The Travelers Cos. during the second quarter valued at $49,727,000. Finally, JPMorgan Chase & Co. raised its stake in The Travelers Cos. by 4.8% in the second quarter. JPMorgan Chase & Co. now owns 8,658,670 shares of the company’s stock valued at $1,030,728,000 after buying an additional 397,224 shares in the last quarter. Institutional investors own 80.09% of the company’s stock.
The Travelers Cos. (NYSE:TRV) traded up 0.34% during trading on Friday, reaching $113.45. The company’s stock had a trading volume of 686,329 shares. The company has a market cap of $32.23 billion, a P/E ratio of 11.51 and a beta of 1.03. The Travelers Cos. has a 52 week low of $101.23 and a 52 week high of $119.32. The company’s 50 day moving average price is $110.76 and its 200 day moving average price is $114.33.
The Travelers Cos. (NYSE:TRV) last issued its earnings results on Thursday, October 20th. The company reported $2.40 EPS for the quarter, beating the consensus estimate of $2.27 by $0.13. The company earned $6.96 billion during the quarter, compared to analysts’ expectations of $6.37 billion. The Travelers Cos. had a net margin of 10.84% and a return on equity of 12.11%. The business’s revenue for the quarter was up 3.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.93 EPS. On average, equities analysts anticipate that The Travelers Cos. will post $9.51 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 30th. Shareholders of record on Friday, December 9th will be given a dividend of $0.67 per share. This represents a $2.68 annualized dividend and a dividend yield of 2.36%. The ex-dividend date is Wednesday, December 7th. The Travelers Cos.’s payout ratio is 27.29%.
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TRV has been the subject of several research reports. 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 research note on Saturday, October 1st. Zacks Investment Research raised The Travelers Cos. from a “sell” rating to a “hold” rating in a research note on Wednesday, August 31st. Credit Suisse Group AG reissued a “hold” rating and set a $111.00 price objective on shares of The Travelers Cos. in a research note on Tuesday, August 23rd. Citigroup Inc. raised their price objective on The Travelers Cos. from $117.00 to $123.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 11th. Finally, William Blair lowered The Travelers Cos. from a “market perform” rating to an “underperform” rating in a research note on Thursday, November 17th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have assigned a buy rating to the company’s stock. The Travelers Cos. currently has an average rating of “Hold” and a consensus target price of $117.64.
In related news, Vice Chairman William H. Heyman sold 4,246 shares of the company’s stock in a transaction on Wednesday, August 31st. The shares were sold at an average price of $118.98, for a total value of $505,189.08. Following the completion of the sale, the insider now owns 231,500 shares in the company, valued at approximately $27,543,870. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Vice Chairman Jay S. Benet sold 5,808 shares of the company’s stock in a transaction on Monday, August 29th. The shares were sold at an average price of $118.31, for a total transaction of $687,144.48. Following the completion of the sale, the insider now owns 71,287 shares of the company’s stock, valued at approximately $8,433,964.97. The disclosure for this sale can be found here. Company insiders own 1.34% of the company’s stock.
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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