Advisory Services Network LLC reduced its stake in shares of The Travelers Companies, Inc. (NYSE:TRV – Get Rating) by 9.2% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 12,036 shares of the insurance provider’s stock after selling 1,216 shares during the quarter. Advisory Services Network LLC’s holdings in Travelers Companies were worth $2,199,000 at the end of the most recent quarter.
A number of other large investors have also recently made changes to their positions in the stock. Neuberger Berman Group LLC increased its holdings in shares of Travelers Companies by 0.4% during the first quarter. Neuberger Berman Group LLC now owns 483,448 shares of the insurance provider’s stock valued at $88,339,000 after acquiring an additional 1,736 shares in the last quarter. Toroso Investments LLC boosted its position in Travelers Companies by 12.5% in the first quarter. Toroso Investments LLC now owns 3,373 shares of the insurance provider’s stock valued at $616,000 after buying an additional 374 shares during the last quarter. Cape ANN Savings Bank purchased a new stake in Travelers Companies in the first quarter valued at approximately $219,000. Nomura Holdings Inc. boosted its position in Travelers Companies by 947.2% in the first quarter. Nomura Holdings Inc. now owns 50,383 shares of the insurance provider’s stock valued at $9,118,000 after buying an additional 45,572 shares during the last quarter. Finally, Wealthfront Advisers LLC boosted its position in Travelers Companies by 75.2% in the first quarter. Wealthfront Advisers LLC now owns 23,114 shares of the insurance provider’s stock valued at $4,223,000 after buying an additional 9,919 shares during the last quarter. 82.39% of the stock is owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
A number of equities research analysts recently commented on TRV shares. Piper Sandler dropped their target price on Travelers Companies from $190.00 to $175.00 and set a “neutral” rating on the stock in a research report on Friday, July 22nd. UBS Group dropped their target price on Travelers Companies from $184.00 to $169.00 and set a “neutral” rating on the stock in a research report on Monday, July 25th. Barclays lowered their price objective on Travelers Companies from $184.00 to $177.00 and set an “equal weight” rating on the stock in a research report on Thursday, July 14th. Jefferies Financial Group lowered their price objective on Travelers Companies from $172.00 to $156.00 and set a “hold” rating on the stock in a research report on Tuesday, July 12th. Finally, Morgan Stanley lowered their price objective on Travelers Companies from $181.00 to $175.00 and set an “equal weight” rating on the stock in a research report on Friday, August 19th. Two research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, one has assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Travelers Companies currently has an average rating of “Hold” and an average price target of $174.60.
Travelers Companies Stock Down 1.1 %
Travelers Companies (NYSE:TRV – Get Rating) last posted its quarterly earnings data on Thursday, July 21st. The insurance provider reported $2.57 EPS for the quarter, beating the consensus estimate of $2.00 by $0.57. Travelers Companies had a return on equity of 13.64% and a net margin of 9.97%. The firm had revenue of $9.14 billion during the quarter, compared to the consensus estimate of $8.29 billion. During the same period in the prior year, the company earned $3.45 EPS. The firm’s revenue was up 5.2% compared to the same quarter last year. Research analysts anticipate that The Travelers Companies, Inc. will post 13.61 EPS for the current fiscal year.
Travelers Companies Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Friday, September 30th. Shareholders of record on Friday, September 9th will be paid a $0.93 dividend. This represents a $3.72 dividend on an annualized basis and a dividend yield of 2.29%. The ex-dividend date of this dividend is Thursday, September 8th. Travelers Companies’s dividend payout ratio (DPR) is presently 25.82%.
Insiders Place Their Bets
In other Travelers Companies news, EVP Mojgan M. Lefebvre sold 2,945 shares of the firm’s stock in a transaction on Wednesday, August 24th. The stock was sold at an average price of $168.33, for a total value of $495,731.85. Following the completion of the sale, the executive vice president now directly owns 1,020 shares of the company’s stock, valued at approximately $171,696.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 1.07% of the company’s stock.
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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