KBC Group NV Reduces Stake in Travelers Companies Inc (TRV)
KBC Group NV lessened its position in Travelers Companies Inc (NYSE:TRV) by 12.4% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 125,178 shares of the insurance provider’s stock after selling 17,710 shares during the period. KBC Group NV’s holdings in Travelers Companies were worth $15,315,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. BlackRock Inc. raised its position in shares of Travelers Companies by 4.5% during the first quarter. BlackRock Inc. now owns 21,504,503 shares of the insurance provider’s stock worth $2,986,115,000 after purchasing an additional 932,105 shares during the period. Dimensional Fund Advisors LP raised its position in shares of Travelers Companies by 0.4% during the first quarter. Dimensional Fund Advisors LP now owns 2,940,850 shares of the insurance provider’s stock worth $408,364,000 after purchasing an additional 12,173 shares during the period. Old Mutual Global Investors UK Ltd. raised its position in shares of Travelers Companies by 223.2% during the first quarter. Old Mutual Global Investors UK Ltd. now owns 1,700,269 shares of the insurance provider’s stock worth $236,099,000 after purchasing an additional 1,174,173 shares during the period. FIL Ltd raised its position in shares of Travelers Companies by 1.9% during the first quarter. FIL Ltd now owns 1,154,483 shares of the insurance provider’s stock worth $160,311,000 after purchasing an additional 22,069 shares during the period. Finally, Sumitomo Mitsui Trust Holdings Inc. raised its position in shares of Travelers Companies by 0.4% during the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,112,712 shares of the insurance provider’s stock worth $136,129,000 after purchasing an additional 4,546 shares during the period. 79.42% of the stock is currently owned by institutional investors.
In other news, Vice Chairman Jay S. Benet sold 6,854 shares of Travelers Companies stock in a transaction on Tuesday, May 22nd. The stock was sold at an average price of $132.00, for a total transaction of $904,728.00. Following the transaction, the insider now owns 92,154 shares in the company, valued at $12,164,328. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.80% of the company’s stock.
Travelers Companies (NYSE:TRV) last issued its quarterly earnings results on Thursday, July 19th. The insurance provider reported $1.81 earnings per share for the quarter, missing analysts’ consensus estimates of $2.43 by ($0.62). Travelers Companies had a net margin of 6.89% and a return on equity of 8.84%. The business had revenue of $7.44 billion for the quarter, compared to analysts’ expectations of $7.35 billion. equities research analysts anticipate that Travelers Companies Inc will post 9.95 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 28th. Stockholders of record on Monday, September 10th will be issued a dividend of $0.77 per share. The ex-dividend date is Friday, September 7th. This represents a $3.08 dividend on an annualized basis and a dividend yield of 2.39%. Travelers Companies’s dividend payout ratio is 42.31%.
A number of equities research analysts have recently issued reports on the company. TheStreet lowered Travelers Companies from a “b” rating to a “c+” rating in a research report on Thursday, July 19th. B. Riley boosted their target price on Travelers Companies from $118.00 to $136.00 and gave the stock a “neutral” rating in a research report on Tuesday. Citigroup boosted their target price on Travelers Companies from $144.00 to $149.00 and gave the stock a “buy” rating in a research report on Monday, July 30th. Barclays cut their target price on Travelers Companies from $140.00 to $135.00 and set an “equal weight” rating on the stock in a research report on Monday, July 9th. Finally, ValuEngine raised Travelers Companies from a “sell” rating to a “hold” rating in a research report on Saturday, July 28th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and seven have issued a buy rating to the company. Travelers Companies presently has a consensus rating of “Hold” and a consensus target price of $137.81.
Travelers Companies Company Profile
The Travelers Companies, Inc, through its subsidiaries, provides a range of commercial and personal property, and casualty insurance products and services to businesses, government units, associations, and individuals in the United states and internationally. The company operates through three segments: Business Insurance, Bond & Specialty Insurance, and Personal Insurance.
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