Acadian Asset Management LLC Lowers Position in The Travelers Companies, Inc. (TRV)
Acadian Asset Management LLC reduced its stake in shares of The Travelers Companies, Inc. (NYSE:TRV) by 57.8% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 913 shares of the insurance provider’s stock after selling 1,252 shares during the period. Acadian Asset Management LLC’s holdings in The Travelers Companies were worth $116,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Wooster Corthell Wealth Management Inc. bought a new position in The Travelers Companies during the second quarter valued at $203,000. Russell Investments Group Ltd. raised its position in The Travelers Companies by 0.5% in the second quarter. Russell Investments Group Ltd. now owns 525,813 shares of the insurance provider’s stock valued at $66,544,000 after buying an additional 2,768 shares in the last quarter. Regentatlantic Capital LLC raised its position in The Travelers Companies by 1.0% in the second quarter. Regentatlantic Capital LLC now owns 88,433 shares of the insurance provider’s stock valued at $11,189,000 after buying an additional 849 shares in the last quarter. Benin Management CORP raised its position in The Travelers Companies by 15.4% in the second quarter. Benin Management CORP now owns 55,035 shares of the insurance provider’s stock valued at $6,964,000 after buying an additional 7,335 shares in the last quarter. Finally, Breton Hill Capital Ltd. raised its position in The Travelers Companies by 327.6% in the second quarter. Breton Hill Capital Ltd. now owns 9,834 shares of the insurance provider’s stock valued at $1,244,000 after buying an additional 7,534 shares in the last quarter. Hedge funds and other institutional investors own 78.24% of the company’s stock.
The Travelers Companies, Inc. (NYSE TRV) traded up 0.19% during mid-day trading on Friday, hitting $128.43. 702,566 shares of the company traded hands. The stock has a market capitalization of $35.44 billion, a price-to-earnings ratio of 12.79 and a beta of 1.20. The Travelers Companies, Inc. has a one year low of $103.45 and a one year high of $130.37. The company’s 50-day moving average is $127.26 and its 200-day moving average is $123.45.
The Travelers Companies (NYSE:TRV) last posted its quarterly earnings data on Thursday, July 20th. The insurance provider reported $1.92 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $2.07 by $0.15. The Travelers Companies had a net margin of 10.15% and a return on equity of 11.68%. The business had revenue of $6.35 billion during the quarter, compared to analyst estimates of $6.31 billion. During the same quarter last year, the business earned $2.20 earnings per share. The Travelers Companies’s revenue for the quarter was up 4.7% on a year-over-year basis. Analysts predict that The Travelers Companies, Inc. will post $8.90 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Stockholders of record on Friday, September 8th will be issued a $0.72 dividend. The ex-dividend date is Thursday, September 7th. This represents a $2.88 dividend on an annualized basis and a dividend yield of 2.25%. The Travelers Companies’s dividend payout ratio (DPR) is presently 28.77%.
The Travelers Companies declared that its Board of Directors has authorized a share buyback program on Thursday, April 20th that permits the company to buyback $5.00 billion in outstanding shares. This buyback authorization permits the insurance provider to repurchase shares of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s management believes its shares are undervalued.
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Several research firms have weighed in on TRV. Barclays PLC upped their price objective on shares of The Travelers Companies from $119.00 to $122.00 and gave the company an “equal weight” rating in a research note on Friday, August 11th. BidaskClub lowered shares of The Travelers Companies from a “sell” rating to a “strong sell” rating in a research note on Tuesday, August 1st. MKM Partners reiterated a “neutral” rating and issued a $130.00 price objective (up previously from $115.00) on shares of The Travelers Companies in a research note on Wednesday, July 26th. Citigroup Inc. reiterated a “buy” rating and issued a $148.00 price objective (down previously from $150.00) on shares of The Travelers Companies in a research note on Monday, July 24th. Finally, Morgan Stanley reiterated an “underweight” rating and issued a $119.00 price objective (up previously from $112.00) on shares of The Travelers Companies in a research note on Friday, July 7th. 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 has a consensus rating of “Hold” and a consensus price target of $124.01.
In related news, Vice Chairman William H. Heyman sold 7,000 shares of the business’s stock in a transaction on Thursday, May 25th. The shares were sold at an average price of $123.48, for a total transaction of $864,360.00. Following the transaction, the insider now directly owns 246,744 shares in the company, valued at $30,467,949.12. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Vice Chairman William H. Heyman sold 24,000 shares of the business’s stock in a transaction on Tuesday, July 25th. The stock was sold at an average price of $126.64, for a total transaction of $3,039,360.00. Following the transaction, the insider now owns 253,744 shares in the company, valued at $32,134,140.16. The disclosure for this sale can be found here. Insiders sold 194,303 shares of company stock worth $24,702,936 over the last quarter. 0.82% of the stock is owned by corporate insiders.
The Travelers Companies Company Profile
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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