NGAM Advisors L.P. Reduces Stake in The Travelers Companies, Inc. (TRV)
NGAM Advisors L.P. lowered its position in The Travelers Companies, Inc. (NYSE:TRV) by 26.3% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 138,891 shares of the insurance provider’s stock after selling 49,644 shares during the period. NGAM Advisors L.P. owned approximately 0.05% of The Travelers Companies worth $17,574,000 at the end of the most recent quarter.
Other hedge funds have also made changes to their positions in the company. BlackRock Inc. boosted its stake in shares of The Travelers Companies by 2,395.6% in the first quarter. BlackRock Inc. now owns 20,403,051 shares of the insurance provider’s stock worth $2,459,383,000 after buying an additional 19,585,476 shares during the period. FMR LLC boosted its position in The Travelers Companies by 42.1% in the first quarter. FMR LLC now owns 6,596,545 shares of the insurance provider’s stock worth $795,148,000 after buying an additional 1,954,573 shares during the last quarter. Vanguard Group Inc. boosted its position in The Travelers Companies by 3.0% in the first quarter. Vanguard Group Inc. now owns 21,551,932 shares of the insurance provider’s stock worth $2,597,871,000 after buying an additional 633,510 shares during the last quarter. Hermes Investment Management Ltd. purchased a new position in The Travelers Companies during the second quarter worth $58,950,000. Finally, WINTON GROUP Ltd boosted its position in The Travelers Companies by 191.6% in the first quarter. WINTON GROUP Ltd now owns 695,246 shares of the insurance provider’s stock worth $79,640,000 after buying an additional 456,814 shares during the last quarter. 78.24% of the stock is owned by hedge funds and other institutional investors.
Shares of The Travelers Companies, Inc. (NYSE:TRV) opened at 127.89 on Monday. The stock has a 50 day moving average of $127.31 and a 200-day moving average of $123.52. The firm has a market cap of $35.29 billion, a price-to-earnings ratio of 12.74 and a beta of 1.20. The Travelers Companies, Inc. has a 52 week low of $103.45 and a 52 week high of $130.37.
The Travelers Companies (NYSE:TRV) last released its quarterly earnings data on Thursday, July 20th. The insurance provider reported $1.92 EPS for the quarter, missing analysts’ consensus estimates of $2.07 by $0.15. The business had revenue of $6.35 billion for the quarter, compared to the consensus estimate 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 was up 4.7% on a year-over-year basis. During the same period in the previous year, the business posted $2.20 earnings per share. Equities research analysts expect that The Travelers Companies, Inc. will post $8.90 earnings per share 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 dividend of $0.72 per share. This represents a $2.88 dividend on an annualized basis and a dividend yield of 2.25%. The ex-dividend date of this dividend is Thursday, September 7th. The Travelers Companies’s payout ratio is 28.77%.
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TRV has been the subject of a number of analyst reports. Argus raised shares of The Travelers Companies from a “hold” rating to a “buy” rating and set a $132.00 price objective for the company in a research report on Monday, April 24th. Royal Bank Of Canada reissued a “buy” rating and issued a $126.00 price objective on shares of The Travelers Companies in a research report on Monday, May 22nd. Citigroup Inc. reissued a “buy” rating and issued a $148.00 price objective (down from $150.00) on shares of The Travelers Companies in a research report on Monday, July 24th. Morgan Stanley reissued an “underweight” rating and issued a $119.00 price objective (up from $112.00) on shares of The Travelers Companies in a research report on Friday, July 7th. Finally, Keefe, Bruyette & Woods reissued a “hold” rating on shares of The Travelers Companies in a research report on Tuesday, June 20th. Five equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and six have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $124.01.
In other news, EVP Kenneth Franklin Spence III sold 4,800 shares of the firm’s stock in a transaction dated Monday, August 14th. The shares were sold at an average price of $128.73, for a total transaction of $617,904.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Vice Chairman William H. Heyman sold 7,000 shares of the firm’s stock in a transaction dated Thursday, May 25th. The stock was 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 of the company’s stock, valued at $30,467,949.12. The disclosure for this sale can be found here. Insiders have sold a total of 194,303 shares of company stock valued at $24,702,936 over the last ninety days. 0.82% of the stock is owned by 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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