Legacy Capital Group California Inc. purchased a new position in shares of The Travelers Companies, Inc. (NYSE:TRV - Free Report) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 3,562 shares of the insurance provider's stock, valued at approximately $995,000.
Other hedge funds have also recently made changes to their positions in the company. Longfellow Investment Management Co. LLC purchased a new stake in Travelers Companies during the third quarter valued at about $490,000. Barclays PLC grew its stake in shares of Travelers Companies by 0.9% during the third quarter. Barclays PLC now owns 1,302,361 shares of the insurance provider's stock valued at $363,645,000 after buying an additional 11,577 shares during the last quarter. United Capital Management of KS Inc. purchased a new position in shares of Travelers Companies in the third quarter worth about $567,000. KCM Investment Advisors LLC increased its holdings in shares of Travelers Companies by 0.5% in the third quarter. KCM Investment Advisors LLC now owns 18,369 shares of the insurance provider's stock worth $5,129,000 after buying an additional 89 shares during the period. Finally, Stonebridge Capital Advisors LLC lifted its stake in shares of Travelers Companies by 0.5% in the 3rd quarter. Stonebridge Capital Advisors LLC now owns 49,530 shares of the insurance provider's stock valued at $13,830,000 after acquiring an additional 237 shares during the last quarter. 82.45% of the stock is currently owned by institutional investors.
Travelers Companies Price Performance
Shares of Travelers Companies stock opened at $306.43 on Friday. The company has a quick ratio of 0.33, a current ratio of 0.33 and a debt-to-equity ratio of 0.28. The company has a market cap of $66.26 billion, a PE ratio of 11.13, a P/E/G ratio of 2.86 and a beta of 0.49. The business has a 50 day moving average of $290.84 and a 200 day moving average of $283.27. The Travelers Companies, Inc. has a 52 week low of $230.43 and a 52 week high of $313.12.
Travelers Companies (NYSE:TRV - Get Free Report) last issued its quarterly earnings data on Wednesday, January 21st. The insurance provider reported $11.13 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $8.34 by $2.79. Travelers Companies had a net margin of 12.88% and a return on equity of 20.70%. The business had revenue of $12.43 billion for the quarter, compared to the consensus estimate of $11.13 billion. During the same period in the previous year, the firm earned $9.15 EPS. The company's quarterly revenue was up 3.5% compared to the same quarter last year. As a group, equities research analysts forecast that The Travelers Companies, Inc. will post 17.02 earnings per share for the current year.
Travelers Companies announced that its Board of Directors has approved a share repurchase program on Wednesday, January 21st that authorizes the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization authorizes the insurance provider to purchase up to 8.3% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company's leadership believes its stock is undervalued.
Travelers Companies Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Tuesday, March 10th will be issued a dividend of $1.10 per share. The ex-dividend date is Tuesday, March 10th. This represents a $4.40 dividend on an annualized basis and a dividend yield of 1.4%. Travelers Companies's dividend payout ratio is 15.98%.
Insider Transactions at Travelers Companies
In other Travelers Companies news, CEO Alan D. Schnitzer sold 55,733 shares of the stock in a transaction on Wednesday, February 4th. The stock was sold at an average price of $294.70, for a total value of $16,424,515.10. Following the completion of the transaction, the chief executive officer owned 260,329 shares in the company, valued at approximately $76,718,956.30. This represents a 17.63% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Michael Frederick Klein sold 10,000 shares of the firm's stock in a transaction on Friday, February 6th. The shares were sold at an average price of $301.18, for a total value of $3,011,800.00. Following the transaction, the executive vice president directly owned 33,638 shares of the company's stock, valued at $10,131,092.84. This represents a 22.92% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 92,845 shares of company stock worth $27,239,631 over the last 90 days. 1.46% of the stock is currently owned by insiders.
Wall Street Analysts Forecast Growth
A number of equities analysts have commented on the company. Wells Fargo & Company decreased their price target on Travelers Companies from $307.00 to $285.00 and set an "equal weight" rating on the stock in a research note on Thursday, January 22nd. Weiss Ratings raised Travelers Companies from a "buy (b+)" rating to a "buy (a-)" rating in a research note on Monday, February 9th. Cantor Fitzgerald raised their target price on shares of Travelers Companies from $316.00 to $319.00 and gave the stock an "overweight" rating in a report on Monday, February 2nd. Morgan Stanley upped their price target on shares of Travelers Companies from $285.00 to $295.00 and gave the company an "equal weight" rating in a report on Monday, November 17th. Finally, Roth Mkm increased their price target on shares of Travelers Companies from $300.00 to $320.00 and gave the company a "buy" rating in a research report on Friday, January 23rd. Two analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating, ten have issued a Hold rating and two have issued a Sell rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $304.33.
Check Out Our Latest Research Report on TRV
About Travelers Companies
(
Free Report)
The Travelers Companies, Inc NYSE: TRV is a leading provider of property and casualty insurance products and services. The company underwrites a broad range of commercial and personal insurance lines, offering coverage designed to protect individuals, small and midsize businesses, and large corporate clients against property loss, liability, and other operational risks. Travelers is known for combining underwriting, claims management and risk control services to help clients prevent losses and recover when incidents occur.
On the commercial side, Travelers writes primary and specialty coverages including property, general liability, commercial auto, workers' compensation, professional and management liability, surety and inland marine.
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