The Travelers Companies, Inc. (NYSE:TRV) Shares Bought by BB&T Securities LLC
BB&T Securities LLC boosted its position in The Travelers Companies, Inc. (NYSE:TRV) by 7.3% during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 152,831 shares of the insurance provider’s stock after buying an additional 10,445 shares during the period. BB&T Securities LLC owned about 0.05% of The Travelers Companies worth $18,421,000 as of its most recent filing with the SEC.
A number of other institutional investors also recently added to or reduced their stakes in TRV. First Manhattan Co. raised its position in shares of The Travelers Companies by 3.9% in the first quarter. First Manhattan Co. now owns 190,036 shares of the insurance provider’s stock worth $21,768,000 after buying an additional 7,216 shares during the last quarter. Teza Capital Management LLC bought a new position in shares of The Travelers Companies during the first quarter worth approximately $1,637,000. Lincoln National Corp bought a new position in shares of The Travelers Companies during the first quarter worth approximately $275,000. Janney Montgomery Scott LLC increased its position in shares of The Travelers Companies by 5.4% in the first quarter. Janney Montgomery Scott LLC now owns 174,890 shares of the insurance provider’s stock worth $21,081,000 after buying an additional 8,909 shares during the last quarter. Finally, Great Lakes Advisors LLC increased its position in shares of The Travelers Companies by 50.7% in the first quarter. Great Lakes Advisors LLC now owns 109,810 shares of the insurance provider’s stock worth $13,236,000 after buying an additional 36,923 shares during the last quarter. 79.01% of the stock is currently owned by hedge funds and other institutional investors.
Shares of The Travelers Companies, Inc. (NYSE TRV) traded up 0.10% during mid-day trading on Friday, hitting $129.69. The company’s stock had a trading volume of 1,838,116 shares. The company has a market cap of $35.79 billion, a price-to-earnings ratio of 12.91 and a beta of 1.20. The Travelers Companies, Inc. has a 1-year low of $103.45 and a 1-year high of $130.00. The company has a 50-day moving average of $126.93 and a 200 day moving average of $122.59.
The Travelers Companies (NYSE:TRV) last announced its quarterly earnings data on Thursday, July 20th. The insurance provider reported $1.92 earnings per share for the quarter, missing the Zacks’ consensus estimate of $2.07 by $0.15. The business had revenue of $6.35 billion during the quarter, compared to analysts’ expectations of $6.31 billion. The Travelers Companies had a return on equity of 11.68% and a net margin of 10.15%. The Travelers Companies’s revenue for the quarter was up 4.7% compared to the same quarter last year. During the same quarter last year, the company posted $2.20 EPS. On average, analysts expect that The Travelers Companies, Inc. will post $8.92 EPS for the current year.
The Travelers Companies declared that its board has authorized a stock buyback program on Thursday, April 20th that allows the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization allows the insurance provider to purchase shares of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s management believes its shares are undervalued.
The company also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Stockholders of record on Friday, September 8th will be paid a $0.72 dividend. The ex-dividend date of this dividend is Thursday, September 7th. This represents a $2.88 annualized dividend and a dividend yield of 2.22%. The Travelers Companies’s dividend payout ratio is presently 28.77%.
TRV has been the subject of several recent analyst reports. Argus raised The Travelers Companies from a “hold” rating to a “buy” rating and set a $132.00 price target for the company in a research note on Monday, April 24th. Citigroup Inc. upped their price objective on The Travelers Companies from $140.00 to $142.00 and gave the company a “buy” rating in a report on Friday, April 7th. Royal Bank Of Canada restated a “buy” rating and issued a $126.00 price objective on shares of The Travelers Companies in a report on Monday, May 22nd. Morgan Stanley reaffirmed an “underweight” rating and set a $119.00 target price (up from $112.00) on shares of The Travelers Companies in a report on Friday, July 7th. Finally, Keefe, Bruyette & Woods reaffirmed a “hold” rating on shares of The Travelers Companies in a report on Tuesday, June 20th. Five analysts have rated the stock with a sell rating, seven have issued a hold rating and six have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $123.79.
In related news, EVP Andy F. Bessette sold 3,300 shares of the stock in a transaction that occurred on Tuesday, August 1st. The shares were sold at an average price of $128.50, for a total transaction of $424,050.00. Following the transaction, the executive vice president now owns 10,000 shares in the company, valued at $1,285,000. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, SVP Douglas K. Russell sold 9,686 shares of the stock in a transaction that occurred on Thursday, May 25th. The shares were sold at an average price of $123.00, for a total transaction of $1,191,378.00. Following the transaction, the senior vice president now owns 29,267 shares in the company, valued at approximately $3,599,841. The disclosure for this sale can be found here. In the last quarter, insiders sold 163,894 shares of company stock worth $20,759,812. Insiders own 0.82% of the company’s stock.
About The 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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