BerganKDV Wealth Management LLC increased its holdings in The Travelers Companies, Inc. (NYSE:TRV) by 4.8% in the second quarter, HoldingsChannel.com reports. The fund owned 21,663 shares of the insurance provider’s stock after acquiring an additional 984 shares during the period. BerganKDV Wealth Management LLC’s holdings in The Travelers Companies were worth $3,243,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently bought and sold shares of TRV. Capital International Investors raised its holdings in The Travelers Companies by 9.0% in the first quarter. Capital International Investors now owns 16,498,274 shares of the insurance provider’s stock worth $2,481,340,000 after purchasing an additional 1,360,774 shares in the last quarter. Cullen Capital Management LLC raised its holdings in The Travelers Companies by 291.0% in the first quarter. Cullen Capital Management LLC now owns 666,326 shares of the insurance provider’s stock worth $100,215,000 after purchasing an additional 495,899 shares in the last quarter. BlackRock Inc. raised its holdings in The Travelers Companies by 2.1% in the first quarter. BlackRock Inc. now owns 20,745,317 shares of the insurance provider’s stock worth $3,120,096,000 after purchasing an additional 423,085 shares in the last quarter. Citigroup Inc. raised its holdings in The Travelers Companies by 59.9% in the first quarter. Citigroup Inc. now owns 769,570 shares of the insurance provider’s stock worth $115,743,000 after purchasing an additional 288,358 shares in the last quarter. Finally, Marathon Asset Management LLP raised its holdings in The Travelers Companies by 27.5% in the second quarter. Marathon Asset Management LLP now owns 1,200,258 shares of the insurance provider’s stock worth $179,691,000 after purchasing an additional 258,798 shares in the last quarter. Institutional investors and hedge funds own 81.84% of the company’s stock.
A number of research firms have issued reports on TRV. Morgan Stanley increased their price objective on The Travelers Companies from $166.00 to $168.00 and gave the stock an “equal weight” rating in a report on Monday, August 16th. Wolfe Research began coverage on The Travelers Companies in a report on Monday, August 16th. They issued an “outperform” rating and a $180.00 price objective for the company. William Blair restated an “outperform” rating on shares of The Travelers Companies in a report on Wednesday, July 21st. Bank of America downgraded The Travelers Companies from a “buy” rating to an “underperform” rating and reduced their price target for the company from $171.00 to $161.00 in a report on Thursday, July 22nd. Finally, raised their price target on The Travelers Companies from $155.00 to $160.00 and gave the company a “neutral” rating in a report on Monday, June 21st. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $161.69.
The Travelers Companies (NYSE:TRV) last released its quarterly earnings data on Monday, July 19th. The insurance provider reported $3.45 EPS for the quarter, beating the consensus estimate of $2.39 by $1.06. The Travelers Companies had a return on equity of 12.71% and a net margin of 11.30%. The company had revenue of $7.62 billion for the quarter, compared to analysts’ expectations of $7.53 billion. During the same period last year, the firm posted ($0.20) earnings per share. The Travelers Companies’s revenue was up 9.5% compared to the same quarter last year. On average, equities analysts predict that The Travelers Companies, Inc. will post 12.25 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, September 30th. Shareholders of record on Friday, September 10th will be given a $0.88 dividend. The ex-dividend date of this dividend is Thursday, September 9th. This represents a $3.52 annualized dividend and a yield of 2.23%. The Travelers Companies’s payout ratio is 33.59%.
In other The Travelers Companies news, EVP Michael Frederick Klein sold 12,000 shares of the firm’s stock in a transaction dated Monday, July 26th. The stock was sold at an average price of $149.22, for a total value of $1,790,640.00. Following the transaction, the executive vice president now directly owns 16,275 shares of the company’s stock, valued at $2,428,555.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.92% of the company’s stock.
The Travelers Companies Profile
The Travelers Cos., Inc is a holding company, which engages in the provision of commercial and personal property and casualty insurance products and services. It operates through the following business segments: Business Insurance, Bond and Specialty Insurance, and Personal Insurance. The Business Insurance segment offers a broad array of property and casualty insurance, and insurance related services to its customers.
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