LSV Asset Management Has $512.74 Million Position in The Travelers Companies, Inc. (TRV)
LSV Asset Management decreased its position in The Travelers Companies, Inc. (NYSE:TRV) by 2.3% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,052,335 shares of the insurance provider’s stock after selling 94,090 shares during the quarter. The Travelers Companies accounts for about 0.9% of LSV Asset Management’s holdings, making the stock its 17th biggest holding. LSV Asset Management owned 1.47% of The Travelers Companies worth $512,741,000 at the end of the most recent reporting period.
A number of other large investors have also recently modified their holdings of the stock. WMS Partners LLC raised its holdings in The Travelers Companies by 10.3% in the second quarter. WMS Partners LLC now owns 2,721 shares of the insurance provider’s stock valued at $344,000 after acquiring an additional 253 shares in the last quarter. Manchester Capital Management LLC increased its stake in The Travelers Companies by 2.5% in the second quarter. Manchester Capital Management LLC now owns 2,427 shares of the insurance provider’s stock valued at $307,000 after purchasing an additional 60 shares during the last quarter. Calamos Advisors LLC increased its stake in The Travelers Companies by 2.5% in the second quarter. Calamos Advisors LLC now owns 29,279 shares of the insurance provider’s stock valued at $3,705,000 after purchasing an additional 708 shares during the last quarter. Atlantic Trust Group LLC increased its stake in The Travelers Companies by 7.8% in the second quarter. Atlantic Trust Group LLC now owns 21,704 shares of the insurance provider’s stock valued at $2,746,000 after purchasing an additional 1,573 shares during the last quarter. Finally, Tradition Capital Management LLC purchased a new position in The Travelers Companies in the second quarter valued at approximately $207,000. 77.48% of the stock is currently owned by hedge funds and other institutional investors.
In other news, EVP Andy F. Bessette sold 3,300 shares of the stock in a transaction on Tuesday, August 1st. The stock was sold at an average price of $128.50, for a total value of $424,050.00. Following the completion of the transaction, the executive vice president now owns 10,000 shares of the company’s stock, valued at $1,285,000. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Kenneth Franklin Spence III sold 4,800 shares of the stock in a transaction on Monday, August 14th. The stock was sold at an average price of $128.73, for a total value of $617,904.00. The disclosure for this sale can be found here. In the last three months, insiders sold 144,877 shares of company stock valued at $18,539,282. Company insiders own 0.82% of the company’s stock.
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Shares of The Travelers Companies, Inc. (TRV) opened at 121.91 on Thursday. The firm has a 50-day moving average price of $124.75 and a 200-day moving average price of $123.78. The firm has a market cap of $33.64 billion, a P/E ratio of 12.14 and a beta of 1.21. 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 (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate 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 during the quarter, compared to the consensus estimate of $6.31 billion. During the same period in the previous year, the company posted $2.20 EPS. The company’s revenue for the quarter was up 4.7% compared to the same quarter last year. On average, equities research analysts expect that The Travelers Companies, Inc. will post $7.67 earnings per share for the current fiscal year.
The firm also recently declared 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 2.36%. The Travelers Companies’s payout ratio is 28.77%.
The Travelers Companies announced that its Board of Directors has authorized a stock buyback plan on Monday, September 11th that permits the company to repurchase shares. This repurchase authorization permits the insurance provider to reacquire shares of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s leadership believes its stock is undervalued.
TRV has been the topic of several recent analyst reports. Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $115.00 price target on shares of The Travelers Companies in a research note on Thursday, May 25th. BidaskClub upgraded shares of The Travelers Companies from a “hold” rating to a “buy” rating in a research note on Saturday, June 17th. Bank of America Corporation lowered shares of The Travelers Companies from a “buy” rating to a “neutral” rating and increased their price target for the company from $120.62 to $129.44 in a research note on Monday, June 19th. Vetr upgraded shares of The Travelers Companies from a “hold” rating to a “buy” rating and set a $132.68 price target on the stock in a research note on Tuesday, June 27th. Finally, Morgan Stanley reiterated an “underweight” rating and issued a $119.00 price target (up from $112.00) on shares of The Travelers Companies in a research note on Friday, July 7th. Five investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and eight have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $126.18.
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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