The Travelers Companies, Inc. (TRV) Stake Raised by Horizon Investments LLC
Horizon Investments LLC raised its holdings in The Travelers Companies, Inc. (NYSE:TRV) by 92.3% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 10,874 shares of the insurance provider’s stock after buying an additional 5,218 shares during the quarter. Horizon Investments LLC’s holdings in The Travelers Companies were worth $1,311,000 at the end of the most recent quarter.
Other hedge funds have also modified their holdings of the company. CWM LLC raised its holdings in shares of The Travelers Companies by 4.9% during the second quarter. CWM LLC now owns 794 shares of the insurance provider’s stock valued at $100,000 after acquiring an additional 37 shares in the last quarter. Westside Investment Management Inc. lifted its stake in The Travelers Companies by 361.1% in the first quarter. Westside Investment Management Inc. now owns 876 shares of the insurance provider’s stock worth $106,000 after acquiring an additional 686 shares during the period. First Personal Financial Services lifted its stake in The Travelers Companies by 133.3% in the first quarter. First Personal Financial Services now owns 889 shares of the insurance provider’s stock worth $107,000 after acquiring an additional 508 shares during the period. Tradewinds Capital Management LLC lifted its stake in The Travelers Companies by 1.1% in the second quarter. Tradewinds Capital Management LLC now owns 905 shares of the insurance provider’s stock worth $115,000 after acquiring an additional 10 shares during the period. Finally, Thompson Siegel & Walmsley LLC lifted its stake in The Travelers Companies by 3.6% in the second quarter. Thompson Siegel & Walmsley LLC now owns 995 shares of the insurance provider’s stock worth $126,000 after acquiring an additional 35 shares during the period. Hedge funds and other institutional investors own 77.48% of the company’s stock.
Shares of The Travelers Companies, Inc. (TRV) opened at 123.32 on Tuesday. The stock has a market capitalization of $34.03 billion, a P/E ratio of 12.28 and a beta of 1.20. The company’s 50-day moving average is $123.01 and its 200 day moving average is $123.78. 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 EPS for the quarter, missing the Thomson Reuters’ 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 firm had revenue of $6.35 billion for the quarter, compared to analysts’ expectations of $6.31 billion. During the same period in the previous year, the company posted $2.20 earnings per share. The business’s quarterly revenue was up 4.7% compared to the same quarter last year. Equities research analysts predict that The Travelers Companies, Inc. will post $7.76 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, September 29th. Investors of record on Friday, September 8th were paid a dividend of $0.72 per share. The ex-dividend date of this dividend was Thursday, September 7th. This represents a $2.88 annualized dividend and a dividend yield of 2.34%. The Travelers Companies’s dividend payout ratio (DPR) is presently 28.77%.
The Travelers Companies declared that its board has initiated a share buyback program on Monday, September 11th that authorizes the company to repurchase shares. This repurchase authorization authorizes the insurance provider to buy shares of its stock through open market purchases. Shares repurchase programs are usually an indication that the company’s management believes its stock is undervalued.
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TRV has been the subject of several research reports. MKM Partners restated a “neutral” rating and issued a $130.00 price objective (up from $115.00) on shares of The Travelers Companies in a report on Wednesday, July 26th. Credit Suisse Group cut their target price on shares of The Travelers Companies from $128.00 to $125.00 and set a “neutral” rating on the stock in a research note on Tuesday, September 12th. Wells Fargo & Company reaffirmed a “hold” rating and set a $125.00 target price on shares of The Travelers Companies in a research note on Tuesday, September 12th. Zacks Investment Research cut shares of The Travelers Companies from a “hold” rating to a “sell” rating in a research report on Tuesday, September 5th. Finally, Citigroup Inc. reiterated a “buy” rating and set a $148.00 price target (down previously from $150.00) on shares of The Travelers Companies in a research report on Monday, July 24th. Five investment analysts have rated the stock with a sell rating, nine have given a hold rating and eight have given a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $125.71.
In other news, EVP Kenneth Franklin Spence III sold 4,800 shares of the company’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 SEC, which is accessible through the SEC website. Also, Vice Chairman Jay S. Benet sold 16,566 shares of the stock in a transaction that occurred on 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 of the company’s stock, valued at $12,204,298.72. The disclosure for this sale can be found here. Insiders have sold 133,841 shares of company stock valued at $17,135,116 in the last three months. 0.82% of the stock is currently 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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