Renaissance Technologies LLC lessened its holdings in shares of The Travelers Companies, Inc. (NYSE:TRV) by 23.8% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 99,700 shares of the insurance provider’s stock after selling 31,172 shares during the quarter. Renaissance Technologies LLC’s holdings in The Travelers Companies were worth $12,615,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also modified their holdings of the company. CWM LLC raised its stake in The Travelers Companies by 4.9% during the 2nd quarter. CWM LLC now owns 794 shares of the insurance provider’s stock valued at $100,000 after purchasing an additional 37 shares during the period. Westside Investment Management Inc. boosted its holdings in shares of The Travelers Companies by 361.1% in the 1st quarter. Westside Investment Management Inc. now owns 876 shares of the insurance provider’s stock worth $106,000 after purchasing an additional 686 shares during the period. Tradewinds Capital Management LLC boosted its holdings in shares of The Travelers Companies by 1.1% in the 2nd quarter. Tradewinds Capital Management LLC now owns 905 shares of the insurance provider’s stock worth $115,000 after purchasing an additional 10 shares during the period. Thompson Siegel & Walmsley LLC boosted its holdings in shares of The Travelers Companies by 3.6% in the 2nd quarter. Thompson Siegel & Walmsley LLC now owns 995 shares of the insurance provider’s stock worth $126,000 after purchasing an additional 35 shares during the period. Finally, Omnia Family Wealth LLC boosted its holdings in shares of The Travelers Companies by 4.7% in the 2nd quarter. Omnia Family Wealth LLC now owns 1,015 shares of the insurance provider’s stock worth $128,000 after purchasing an additional 46 shares during the period. 77.30% of the stock is currently owned by institutional investors.
TRV has been the subject of a number of research analyst reports. Zacks Investment Research lowered The Travelers Companies from a “hold” rating to a “sell” rating in a research note on Tuesday, September 5th. ValuEngine raised The Travelers Companies from a “hold” rating to a “buy” rating in a research note on Friday, September 1st. Citigroup Inc. raised their price target on The Travelers Companies from $140.00 to $150.00 and gave the stock a “buy” rating in a research note on Thursday, July 13th. Credit Suisse Group decreased their price target on The Travelers Companies from $128.00 to $125.00 and set a “neutral” rating for the company in a research note on Tuesday, September 12th. Finally, UBS AG decreased their target price on The Travelers Companies from $126.00 to $125.00 and set a “neutral” rating for the company in a research report on Tuesday, September 19th. Five equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and nine have given a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $127.71.
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The Travelers Companies, Inc. (NYSE:TRV) traded down 0.67% on Friday, hitting $131.06. The stock had a trading volume of 1,602,413 shares. The Travelers Companies, Inc. has a one year low of $103.45 and a one year high of $134.47. The firm has a market cap of $36.17 billion, a price-to-earnings ratio of 13.05 and a beta of 1.20. The company’s 50-day moving average price is $124.52 and its 200 day moving average price is $124.62.
The Travelers Companies (NYSE:TRV) last issued its earnings results on Thursday, October 19th. The insurance provider reported $0.91 earnings per share for the quarter, missing the Zacks’ consensus estimate of $2.10 by ($1.19). The business had revenue of $6.66 billion for the quarter, compared to the consensus estimate of $6.46 billion. The Travelers Companies had a return on equity of 9.87% and a net margin of 8.56%. The company’s quarterly revenue was up 4.2% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.40 earnings per share. Analysts expect that The Travelers Companies, Inc. will post $7.51 earnings per share for the current year.
The Travelers Companies declared that its Board of Directors has initiated a stock repurchase plan on Monday, September 11th that permits the company to buyback shares. This buyback authorization permits the insurance provider to purchase shares of its stock through open market purchases. Shares buyback plans are often a sign that the company’s leadership believes its stock is undervalued.
The company also recently declared a quarterly dividend, which will be paid on Friday, December 29th. Investors of record on Monday, December 11th will be given a $0.72 dividend. The ex-dividend date of this dividend is Friday, December 8th. This represents a $2.88 annualized dividend and a dividend yield of 2.20%. The Travelers Companies’s dividend payout ratio (DPR) is presently 33.45%.
In related news, EVP John P. Clifford, Jr. sold 3,525 shares of the firm’s stock in a transaction on Thursday, August 10th. The shares were sold at an average price of $129.85, for a total value of $457,721.25. Following the transaction, the executive vice president now directly owns 9,658 shares in the company, valued at approximately $1,254,091.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Kenneth Franklin Spence III sold 4,800 shares of the firm’s stock in a transaction on Monday, August 14th. The stock was sold at an average price of $128.73, for a total transaction of $617,904.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 74,754 shares of company stock valued at $9,661,690. Insiders own 0.82% of the company’s stock.
The Travelers Companies Company Profile
The Travelers Companies, Inc is a holding company. The Company’s segments include Business and International Insurance; Bond & Specialty Insurance, and Personal Insurance. Through its subsidiaries, it provides commercial and personal property and casualty insurance products and services. The Business and International Insurance segment offers property and casualty insurance and insurance related services to its clients, in the United States and in Canada, as well as in the United Kingdom, the Republic of Ireland, Brazil and throughout other parts of the world.
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