BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp cut its holdings in shares of Travelers Companies Inc (NYSE:TRV) by 25.8% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 84,391 shares of the insurance provider’s stock after selling 29,327 shares during the quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in Travelers Companies were worth $10,946,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in TRV. Victory Capital Management Inc. lifted its position in Travelers Companies by 3,351.0% during the third quarter. Victory Capital Management Inc. now owns 1,153,158 shares of the insurance provider’s stock worth $149,576,000 after buying an additional 1,119,743 shares during the period. Bank of Montreal Can grew its stake in shares of Travelers Companies by 106.7% in the third quarter. Bank of Montreal Can now owns 1,024,894 shares of the insurance provider’s stock valued at $132,939,000 after buying an additional 529,067 shares in the last quarter. Millennium Management LLC grew its stake in shares of Travelers Companies by 655.9% in the second quarter. Millennium Management LLC now owns 600,893 shares of the insurance provider’s stock valued at $73,513,000 after buying an additional 521,397 shares in the last quarter. Rothschild Asset Management Inc. acquired a new stake in shares of Travelers Companies in the second quarter valued at about $42,766,000. Finally, Bank of Nova Scotia grew its stake in shares of Travelers Companies by 489.9% in the second quarter. Bank of Nova Scotia now owns 385,534 shares of the insurance provider’s stock valued at $47,166,000 after buying an additional 320,180 shares in the last quarter. Hedge funds and other institutional investors own 79.50% of the company’s stock.
In other Travelers Companies news, EVP Andy F. Bessette sold 1,666 shares of the firm’s stock in a transaction that occurred on Wednesday, November 14th. The stock was sold at an average price of $126.17, for a total transaction of $210,199.22. Following the completion of the sale, the executive vice president now owns 8,457 shares in the company, valued at approximately $1,067,019.69. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.80% of the stock is owned by company insiders.
Shares of NYSE TRV opened at $126.69 on Thursday. Travelers Companies Inc has a fifty-two week low of $119.67 and a fifty-two week high of $150.55. The company has a quick ratio of 0.39, a current ratio of 0.39 and a debt-to-equity ratio of 0.29. The company has a market cap of $34.53 billion, a price-to-earnings ratio of 17.40, a price-to-earnings-growth ratio of 1.05 and a beta of 1.19.
Travelers Companies (NYSE:TRV) last issued its quarterly earnings data on Thursday, October 18th. The insurance provider reported $2.54 earnings per share for the quarter, beating analysts’ consensus estimates of $2.26 by $0.28. Travelers Companies had a return on equity of 10.86% and a net margin of 8.18%. The firm had revenue of $6.88 billion during the quarter, compared to analyst estimates of $6.83 billion. During the same quarter last year, the firm earned $0.91 EPS. Travelers Companies’s quarterly revenue was up 5.5% on a year-over-year basis. Equities analysts expect that Travelers Companies Inc will post 9.76 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 31st. Shareholders of record on Monday, December 10th will be paid a dividend of $0.77 per share. The ex-dividend date is Friday, December 7th. This represents a $3.08 dividend on an annualized basis and a yield of 2.43%. Travelers Companies’s dividend payout ratio (DPR) is presently 42.31%.
A number of equities research analysts have recently issued reports on TRV shares. TheStreet upgraded Travelers Companies from a “c+” rating to a “b” rating in a research note on Thursday, August 30th. Zacks Investment Research upgraded Travelers Companies from a “sell” rating to a “hold” rating in a research note on Tuesday, September 25th. Wells Fargo & Co reiterated a “hold” rating and issued a $142.00 target price on shares of Travelers Companies in a research note on Thursday, October 18th. Credit Suisse Group set a $141.00 target price on Travelers Companies and gave the company a “hold” rating in a research note on Wednesday, November 14th. Finally, Citigroup lowered Travelers Companies from a “buy” rating to a “neutral” rating and lowered their target price for the company from $149.00 to $134.00 in a research note on Friday, October 19th. One analyst has rated the stock with a sell rating, ten have issued a hold rating and four have issued a buy rating to the company’s stock. Travelers Companies currently has a consensus rating of “Hold” and an average price target of $137.31.
WARNING: This piece of content was reported by Dispatch Tribunal and is the property of of Dispatch Tribunal. If you are accessing this piece of content on another domain, it was copied illegally and reposted in violation of US and international copyright and trademark legislation. The original version of this piece of content can be viewed at https://www.dispatchtribunal.com/2018/12/06/travelers-companies-inc-trv-position-trimmed-by-british-columbia-investment-management-corp.html.
About Travelers Companies
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.
Recommended Story: Investing in Growth Stocks
Want to see what other hedge funds are holding TRV? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Travelers Companies Inc (NYSE:TRV).
Receive News & Ratings for Travelers Companies Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Travelers Companies and related companies with MarketBeat.com's FREE daily email newsletter.