Karp Capital Management Corp Sells 400 Shares of The Travelers Companies, Inc. (TRV)
Karp Capital Management Corp lowered its holdings in The Travelers Companies, Inc. (NYSE:TRV) by 10.8% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,305 shares of the insurance provider’s stock after selling 400 shares during the period. Karp Capital Management Corp’s holdings in The Travelers Companies were worth $418,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also modified their holdings of the business. IBM Retirement Fund raised its holdings in shares of The Travelers Companies by 109.5% during the second quarter. IBM Retirement Fund now owns 6,812 shares of the insurance provider’s stock valued at $963,000 after buying an additional 3,561 shares during the last quarter. DekaBank Deutsche Girozentrale increased its stake in shares of The Travelers Companies by 5.4% during the second quarter. DekaBank Deutsche Girozentrale now owns 137,846 shares of the insurance provider’s stock valued at $17,537,000 after acquiring an additional 7,042 shares during the period. Palisade Asset Management LLC increased its stake in shares of The Travelers Companies by 2.2% during the second quarter. Palisade Asset Management LLC now owns 18,569 shares of the insurance provider’s stock valued at $2,350,000 after acquiring an additional 400 shares during the period. Teza Capital Management LLC acquired a new position in shares of The Travelers Companies during the first quarter valued at approximately $1,637,000. Finally, Lincoln National Corp acquired a new position in shares of The Travelers Companies during the first quarter valued at approximately $275,000. 77.55% of the stock is currently owned by hedge funds and other institutional investors.
In other The Travelers Companies 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 value of $617,904.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Vice Chairman Jay S. Benet sold 16,566 shares of the firm’s stock in a transaction dated Wednesday, August 9th. The shares were sold at an average price of $130.01, for a total transaction of $2,153,745.66. Following the completion of the transaction, the insider now directly owns 93,872 shares in the company, valued at $12,204,298.72. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 150,395 shares of company stock worth $19,249,559. 0.82% of the stock is owned by insiders.
A number of research firms recently commented on TRV. Buckingham Research assumed coverage on shares of The Travelers Companies in a research note on Monday. They set a “buy” rating and a $136.00 price objective on the stock. Zacks Investment Research lowered shares of The Travelers Companies from a “hold” rating to a “sell” rating in a research note on Tuesday, September 5th. ValuEngine raised shares of The Travelers Companies from a “hold” rating to a “buy” rating in a research note on Friday, September 1st. Royal Bank Of Canada reaffirmed a “buy” rating and issued a $135.00 price objective on shares of The Travelers Companies in a research note on Monday, August 21st. Finally, Barclays PLC raised their price objective on shares of The Travelers Companies from $119.00 to $122.00 and gave the stock an “equal weight” rating in a research note on Friday, August 11th. Six investment analysts have rated the stock with a sell rating, six have assigned a hold rating and eight have issued a buy rating to the company. The Travelers Companies presently has a consensus rating of “Hold” and an average target price of $125.41.
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Shares of The Travelers Companies, Inc. (NYSE TRV) opened at 122.56 on Tuesday. The company has a market cap of $33.82 billion, a PE ratio of 12.20 and a beta of 1.21. The Travelers Companies, Inc. has a 1-year low of $103.45 and a 1-year high of $130.37. The company has a 50-day moving average of $125.84 and a 200-day moving average of $123.89.
The Travelers Companies (NYSE:TRV) last released its quarterly earnings results 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 Travelers Companies had a return on equity of 11.68% and a net margin of 10.15%. The business had revenue of $6.35 billion for the quarter, compared to the consensus estimate of $6.31 billion. During the same period in the prior year, the business posted $2.20 earnings per share. The Travelers Companies’s revenue was up 4.7% compared to the same quarter last year. Equities analysts forecast that The Travelers Companies, Inc. will post $8.89 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Friday, September 8th will be given a dividend of $0.72 per share. This represents a $2.88 dividend on an annualized basis and a yield of 2.35%. The ex-dividend date is Thursday, September 7th. The Travelers Companies’s dividend payout ratio is 28.77%.
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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