Westpac Banking Corp reduced its position in shares of The Travelers Companies, Inc. (NYSE:TRV – Free Report) by 0.8% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 17,234 shares of the insurance provider’s stock after selling 140 shares during the quarter. Westpac Banking Corp’s holdings in Travelers Companies were worth $2,993,000 at the end of the most recent reporting period.
A number of other large investors have also recently added to or reduced their stakes in the company. Nordwand Advisors LLC bought a new position in Travelers Companies during the first quarter worth about $26,000. FWL Investment Management LLC acquired a new stake in shares of Travelers Companies in the fourth quarter valued at approximately $28,000. RFP Financial Group LLC bought a new position in shares of Travelers Companies during the 2nd quarter worth approximately $29,000. Northwest Capital Management Inc acquired a new position in shares of Travelers Companies during the 2nd quarter worth approximately $29,000. Finally, Nemes Rush Group LLC acquired a new stake in Travelers Companies during the 2nd quarter valued at $30,000. Institutional investors and hedge funds own 81.12% of the company’s stock.
Wall Street Analysts Forecast Growth
Several equities analysts have recently weighed in on TRV shares. Deutsche Bank Aktiengesellschaft began coverage on shares of Travelers Companies in a research report on Wednesday, October 4th. They issued a “hold” rating and a $186.00 price objective on the stock. StockNews.com began coverage on Travelers Companies in a research report on Thursday, October 5th. They issued a “hold” rating on the stock. Wells Fargo & Company dropped their price target on Travelers Companies from $185.00 to $172.00 and set an “equal weight” rating for the company in a report on Tuesday, October 17th. Jefferies Financial Group decreased their price objective on Travelers Companies from $180.00 to $176.00 and set a “hold” rating on the stock in a report on Friday, October 6th. Finally, Morgan Stanley dropped their target price on Travelers Companies from $185.00 to $183.00 and set an “equal weight” rating for the company in a report on Wednesday, October 11th. Nine investment 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. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $191.17.
Travelers Companies Price Performance
TRV stock traded up $2.81 during midday trading on Thursday, reaching $172.35. The company had a trading volume of 216,881 shares, compared to its average volume of 1,344,139. The Travelers Companies, Inc. has a 1-year low of $157.33 and a 1-year high of $194.51. The stock has a 50 day moving average price of $165.41 and a 200-day moving average price of $169.76. The company has a debt-to-equity ratio of 0.40, a current ratio of 0.34 and a quick ratio of 0.34. The company has a market capitalization of $39.36 billion, a price-to-earnings ratio of 18.44, a price-to-earnings-growth ratio of 1.52 and a beta of 0.58.
Travelers Companies (NYSE:TRV – Get Free Report) last issued its earnings results on Wednesday, October 18th. The insurance provider reported $1.95 EPS for the quarter, missing the consensus estimate of $2.93 by ($0.98). The firm 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%. Travelers Companies’s quarterly revenue was up 14.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.20 earnings per share. Equities research analysts expect that The Travelers Companies, Inc. will post 11.1 earnings per share for the current year.
Travelers Companies Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 29th. Stockholders of record on Friday, December 8th will be paid a $1.00 dividend. The ex-dividend date of this dividend is Thursday, December 7th. This represents a $4.00 annualized dividend and a dividend yield of 2.32%. Travelers Companies’s payout ratio is 43.29%.
Insider Buying and Selling at Travelers Companies
In related news, EVP Andy F. Bessette sold 3,797 shares of the firm’s stock in a transaction that occurred 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 transaction, the executive vice president now owns 13,005 shares in the company, valued at approximately $2,202,786.90. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Company insiders own 1.29% 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. It operates through three segments: Business Insurance, Bond & Specialty Insurance, and Personal Insurance.
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