Public Employees Retirement Association of Colorado cut its stake in shares of The Travelers Companies, Inc. (NYSE:TRV – Free Report) by 9.6% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 34,640 shares of the insurance provider’s stock after selling 3,667 shares during the period. Public Employees Retirement Association of Colorado’s holdings in Travelers Companies were worth $6,016,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently bought and sold shares of the company. BlackRock Inc. lifted its position in shares of Travelers Companies by 0.8% in the first quarter. BlackRock Inc. now owns 20,292,889 shares of the insurance provider’s stock worth $3,478,404,000 after buying an additional 152,945 shares in the last quarter. Morgan Stanley lifted its position in shares of Travelers Companies by 19.6% in the fourth quarter. Morgan Stanley now owns 3,284,693 shares of the insurance provider’s stock worth $615,847,000 after buying an additional 539,294 shares in the last quarter. Envestnet Asset Management Inc. lifted its position in shares of Travelers Companies by 569.0% in the first quarter. Envestnet Asset Management Inc. now owns 2,579,476 shares of the insurance provider’s stock worth $60,732,000 after buying an additional 2,193,923 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of Travelers Companies by 2.3% in the first quarter. Charles Schwab Investment Management Inc. now owns 1,411,106 shares of the insurance provider’s stock worth $257,853,000 after buying an additional 31,165 shares in the last quarter. Finally, Nuance Investments LLC lifted its position in shares of Travelers Companies by 6.3% in the first quarter. Nuance Investments LLC now owns 1,382,852 shares of the insurance provider’s stock worth $237,035,000 after buying an additional 81,662 shares in the last quarter. 81.12% of the stock is currently owned by hedge funds and other institutional investors.
Insider Transactions at Travelers Companies
In related news, EVP Andy F. Bessette sold 3,797 shares of the business’s stock in a transaction on Friday, November 3rd. The shares were sold at an average price of $169.38, for a total value of $643,135.86. Following the completion of the sale, the executive vice president now directly owns 13,005 shares of the company’s stock, valued at $2,202,786.90. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Corporate insiders own 1.29% of the company’s stock.
Travelers Companies Trading Up 0.5 %
Travelers Companies (NYSE:TRV – Get Free Report) last posted its earnings results on Wednesday, October 18th. The insurance provider reported $1.95 earnings per share for the quarter, missing the consensus estimate of $2.93 by ($0.98). The company had revenue of $10.50 billion during the quarter, compared to analyst estimates of $10.42 billion. Travelers Companies had a net margin of 5.45% and a return on equity of 10.41%. The firm’s revenue for the quarter was up 14.1% on a year-over-year basis. During the same quarter last year, the business posted $2.20 EPS. Analysts expect that The Travelers Companies, Inc. will post 11.1 EPS for the current fiscal year.
Travelers Companies Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 29th. Stockholders of record on Friday, December 8th will be given a dividend of $1.00 per share. The ex-dividend date is Thursday, December 7th. This represents a $4.00 annualized dividend and a dividend yield of 2.36%. Travelers Companies’s dividend payout ratio (DPR) is currently 43.29%.
Analysts Set New Price Targets
Several brokerages have weighed in on TRV. Deutsche Bank Aktiengesellschaft began coverage on Travelers Companies in a research note on Wednesday, October 4th. They set a “hold” rating and a $186.00 price objective on the stock. StockNews.com assumed coverage on Travelers Companies in a research note on Thursday, October 5th. They set a “hold” rating on the stock. Royal Bank of Canada upped their target price on Travelers Companies from C$183.00 to C$185.00 in a research note on Thursday, July 20th. Morgan Stanley cut their target price on Travelers Companies from $185.00 to $183.00 and set an “equal weight” rating on the stock in a research note on Wednesday, October 11th. Finally, Jefferies Financial Group dropped their price objective on Travelers Companies from $180.00 to $176.00 and set a “hold” rating on the stock in a research note on Friday, October 6th. Eight equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $191.17.
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. It operates through three segments: Business Insurance, Bond & Specialty Insurance, and Personal Insurance.
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