Buckley Wealth Management LLC Invests $253,000 in Travelers Companies Inc (TRV) Stock
Buckley Wealth Management LLC purchased a new stake in shares of Travelers Companies Inc (NYSE:TRV) in the 4th quarter, HoldingsChannel.com reports. The fund purchased 1,865 shares of the insurance provider’s stock, valued at approximately $253,000.
Other hedge funds have also recently made changes to their positions in the company. Field & Main Bank bought a new position in shares of Travelers Companies in the fourth quarter worth about $102,000. Fieldpoint Private Securities LLC bought a new position in shares of Travelers Companies in the third quarter worth about $106,000. Valeo Financial Advisors LLC bought a new position in shares of Travelers Companies in the third quarter worth about $108,000. Security National Trust Co. raised its stake in shares of Travelers Companies by 260.9% in the third quarter. Security National Trust Co. now owns 1,043 shares of the insurance provider’s stock worth $128,000 after acquiring an additional 754 shares during the last quarter. Finally, Grove Bank & Trust raised its stake in shares of Travelers Companies by 390.2% in the third quarter. Grove Bank & Trust now owns 1,098 shares of the insurance provider’s stock worth $135,000 after acquiring an additional 874 shares during the last quarter. 78.59% of the stock is owned by hedge funds and other institutional investors.
A number of equities analysts have weighed in on TRV shares. Bank of America raised shares of Travelers Companies from a “neutral” rating to a “buy” rating in a research note on Tuesday, January 9th. Royal Bank of Canada boosted their target price on shares of Travelers Companies to $140.00 and gave the stock an “outperform” rating in a research note on Friday, October 20th. Citigroup boosted their target price on shares of Travelers Companies from $143.00 to $151.00 and gave the stock a “buy” rating in a research note on Friday, October 20th. Wells Fargo & Co reaffirmed a “market perform” rating and issued a $142.00 target price on shares of Travelers Companies in a research note on Tuesday, January 23rd. Finally, Goldman Sachs Group started coverage on shares of Travelers Companies in a research note on Monday, December 4th. They issued a “sell” rating and a $124.00 target price for the company. Three equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have given a buy rating to the stock. Travelers Companies currently has a consensus rating of “Hold” and an average target price of $136.07.
Travelers Companies (NYSE:TRV) last posted its quarterly earnings results on Tuesday, January 23rd. The insurance provider reported $2.28 earnings per share for the quarter, missing the Zacks’ consensus estimate of $2.56 by ($0.28). The business had revenue of $7.45 billion for the quarter, compared to the consensus estimate of $6.47 billion. Travelers Companies had a return on equity of 8.61% and a net margin of 7.13%. The company’s quarterly revenue was up 3.6% on a year-over-year basis. During the same period last year, the firm earned $3.20 earnings per share. analysts predict that Travelers Companies Inc will post 10.59 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 30th. Investors of record on Friday, March 9th will be issued a dividend of $0.72 per share. This represents a $2.88 dividend on an annualized basis and a yield of 2.08%. The ex-dividend date is Thursday, March 8th. Travelers Companies’s dividend payout ratio is currently 33.33%.
Travelers Companies declared that its Board of Directors has initiated a share buyback plan on Thursday, November 9th that permits the company to buyback shares. This buyback authorization permits the insurance provider to reacquire shares of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s board believes its shares are undervalued.
In related news, COO Brian W. Maclean sold 88,607 shares of the business’s stock in a transaction that occurred on Friday, January 26th. The shares were sold at an average price of $149.29, for a total transaction of $13,228,139.03. Following the completion of the transaction, the chief operating officer now owns 211,293 shares in the company, valued at $31,543,931.97. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Philip T. Ruegger III acquired 1,600 shares of the firm’s stock in a transaction that occurred on Monday, February 12th. The shares were purchased at an average price of $136.44 per share, with a total value of $218,304.00. Following the acquisition, the director now owns 28,277 shares of the company’s stock, valued at approximately $3,858,113.88. The disclosure for this purchase can be found here. In the last 90 days, insiders have sold 181,599 shares of company stock valued at $26,221,541. Corporate insiders own 0.82% of the company’s stock.
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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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