Capital Investment Services of America Inc. bought a new stake in Travelers Companies Inc (NYSE:TRV) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 1,610 shares of the insurance provider’s stock, valued at approximately $239,000.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Next Capital Management LLC bought a new stake in Travelers Companies in the second quarter valued at about $25,000. Virtus ETF Advisers LLC bought a new stake in Travelers Companies during the second quarter worth about $25,000. Krane Funds Advisors LLC bought a new stake in Travelers Companies during the second quarter worth about $25,000. Advantage Investment Management LLC bought a new stake in Travelers Companies during the second quarter worth about $25,000. Finally, Meeder Asset Management Inc. bought a new stake in Travelers Companies during the second quarter worth about $28,000. 81.39% of the stock is currently owned by institutional investors and hedge funds.
In other news, Vice Chairman William H. Heyman sold 5,000 shares of the company’s stock in a transaction that occurred on Monday, July 29th. The shares were sold at an average price of $150.75, for a total transaction of $753,750.00. Following the transaction, the insider now directly owns 244,745 shares in the company, valued at $36,895,308.75. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Vice Chairman Jay S. Benet sold 21,972 shares of the company’s stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $146.59, for a total transaction of $3,220,875.48. Following the transaction, the insider now owns 94,588 shares in the company, valued at $13,865,654.92. The disclosure for this sale can be found here. Insiders have sold 56,566 shares of company stock worth $8,347,056 over the last quarter. 0.73% of the stock is owned by company insiders.
TRV has been the topic of several research analyst reports. Bank of America cut shares of Travelers Companies from a “buy” rating to a “neutral” rating and set a $156.00 price objective on the stock. in a research note on Wednesday, September 18th. Deutsche Bank cut shares of Travelers Companies from a “hold” rating to a “sell” rating and set a $147.11 price objective on the stock. in a research note on Thursday, June 27th. UBS Group upped their price objective on shares of Travelers Companies from $146.00 to $152.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 10th. Barclays decreased their price objective on shares of Travelers Companies from $177.00 to $174.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 2nd. Finally, Royal Bank of Canada upped their price objective on shares of Travelers Companies to $160.00 and gave the stock a “sector perform” rating in a research note on Wednesday, July 24th. Two research analysts have rated the stock with a sell rating, eleven have issued a hold rating and two have assigned a buy rating to the stock. Travelers Companies currently has an average rating of “Hold” and an average price target of $149.08.
Shares of TRV stock traded up $1.04 during trading hours on Friday, reaching $142.60. 1,187,513 shares of the company were exchanged, compared to its average volume of 1,294,281. Travelers Companies Inc has a fifty-two week low of $111.08 and a fifty-two week high of $155.09. The stock’s fifty day moving average is $146.65 and its two-hundred day moving average is $145.93. The company has a market cap of $36.62 billion, a price-to-earnings ratio of 15.95, a P/E/G ratio of 1.44 and a beta of 0.93. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.38 and a quick ratio of 0.38.
Travelers Companies (NYSE:TRV) last announced its earnings results on Tuesday, July 23rd. The insurance provider reported $2.02 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $2.32 by ($0.30). Travelers Companies had a return on equity of 10.73% and a net margin of 8.65%. The company had revenue of $6.99 billion for the quarter, compared to analyst estimates of $7.03 billion. During the same quarter in the previous year, the company posted $1.81 earnings per share. Travelers Companies’s revenue for the quarter was up 4.4% on a year-over-year basis. On average, research analysts anticipate that Travelers Companies Inc will post 10.55 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Tuesday, September 10th were given a dividend of $0.82 per share. The ex-dividend date of this dividend was Monday, September 9th. This represents a $3.28 dividend on an annualized basis and a dividend yield of 2.30%. Travelers Companies’s payout ratio is 36.69%.
Travelers Companies 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.
Further Reading: Basic Economics
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