Wesbanco Bank Inc. Holds Stake in The Travelers Companies, Inc. (TRV)
Wesbanco Bank Inc. continued to hold its stake in The Travelers Companies, Inc. (NYSE:TRV) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 5,250 shares of the insurance provider’s stock at the close of the 2nd quarter. Wesbanco Bank Inc.’s holdings in The Travelers Companies were worth $664,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently modified their holdings of TRV. BlackRock Inc. increased its holdings in shares of The Travelers Companies by 2,395.6% in the 1st quarter. BlackRock Inc. now owns 20,403,051 shares of the insurance provider’s stock valued at $2,459,383,000 after acquiring an additional 19,585,476 shares during the last quarter. FMR LLC increased its holdings in shares of The Travelers Companies by 42.1% in the 1st quarter. FMR LLC now owns 6,596,545 shares of the insurance provider’s stock valued at $795,148,000 after acquiring an additional 1,954,573 shares during the last quarter. American Century Companies Inc. increased its holdings in shares of The Travelers Companies by 2,264.8% in the 2nd quarter. American Century Companies Inc. now owns 901,739 shares of the insurance provider’s stock valued at $114,097,000 after acquiring an additional 863,607 shares during the last quarter. Vanguard Group Inc. increased its holdings in shares of The Travelers Companies by 3.0% in the 1st quarter. Vanguard Group Inc. now owns 21,551,932 shares of the insurance provider’s stock valued at $2,597,871,000 after acquiring an additional 633,510 shares during the last quarter. Finally, Hermes Investment Management Ltd. bought a new stake in shares of The Travelers Companies in the 2nd quarter valued at approximately $58,950,000. Institutional investors and hedge funds own 77.55% of the company’s stock.
The Travelers Companies, Inc. (NYSE TRV) opened at 120.70 on Friday. The firm has a market cap of $33.31 billion, a price-to-earnings ratio of 12.02 and a beta of 1.21. The firm’s 50-day moving average price is $125.15 and its 200-day moving average price is $123.83. The Travelers Companies, Inc. has a 12 month low of $103.45 and a 12 month high of $130.37.
The Travelers Companies (NYSE:TRV) last released its quarterly earnings results 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 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 for the quarter, compared to analyst estimates of $6.31 billion. During the same period in the prior year, the business earned $2.20 earnings per share. The company’s revenue for the quarter was up 4.7% on a year-over-year basis. Equities research analysts predict that The Travelers Companies, Inc. will post $7.64 earnings per share for the current year.
The Travelers Companies announced that its board has authorized a share buyback plan on Monday, September 11th that allows the company to buyback shares. This buyback authorization allows the insurance provider to repurchase shares of its stock through open market purchases. Shares buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.
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 issued a dividend of $0.72 per share. The ex-dividend date of this dividend is Thursday, September 7th. This represents a $2.88 dividend on an annualized basis and a yield of 2.39%. The Travelers Companies’s dividend payout ratio is 28.77%.
A number of equities research analysts have recently weighed in on the company. Zacks Investment Research upgraded The Travelers Companies from a “sell” rating to a “hold” rating in a report on Thursday. Wells Fargo & Company reiterated a “hold” rating and issued a $125.00 price target on shares of The Travelers Companies in a report on Tuesday. Credit Suisse Group lowered their price target on The Travelers Companies from $128.00 to $125.00 and set a “neutral” rating for the company in a report on Tuesday. Buckingham Research assumed coverage on The Travelers Companies in a report on Monday, September 11th. They issued a “buy” rating and a $136.00 price target for the company. Finally, ValuEngine upgraded The Travelers Companies from a “hold” rating to a “buy” rating in a report on Friday, September 1st. Five equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have issued a buy rating to the company. The Travelers Companies presently has a consensus rating of “Hold” and a consensus price target of $126.26.
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In related news, Vice Chairman Jay S. Benet sold 5,518 shares of the firm’s stock in a transaction on Monday, June 26th. The stock was sold at an average price of $127.49, for a total transaction of $703,489.82. Following the completion of the sale, the insider now directly owns 82,824 shares of the company’s stock, valued at approximately $10,559,231.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Vice Chairman William H. Heyman sold 24,000 shares of the firm’s stock in a transaction on Tuesday, July 25th. The shares were sold at an average price of $126.64, for a total value of $3,039,360.00. Following the sale, the insider now directly owns 253,744 shares of the company’s stock, valued at $32,134,140.16. The disclosure for this sale can be found here. Insiders have sold a total of 150,395 shares of company stock valued at $19,249,559 over the last ninety days. Insiders own 0.82% of the company’s stock.
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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