State of Alaska Department of Revenue Trims Position in The Travelers Companies, Inc. $TRV

Key Points

• The State of Alaska Department of Revenue reduced its holdings in The Travelers Companies, Inc. by 2.1%, now owning 53,449 shares valued at approximately $14.3 million.
• Travelers Companies exceeded analysts' expectations in its latest earnings report, posting $6.51 earnings per share and revenue of $11.54 billion, reflecting a 7.4% increase year-over-year.
• The company announced a quarterly dividend of $1.10, with an annualized yield of 1.6%, payable on September 30th to shareholders on record as of September 10th.

State of Alaska Department of Revenue trimmed its position in shares of The Travelers Companies, Inc. (NYSE:TRV - Free Report) by 2.1% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 53,449 shares of the insurance provider's stock after selling 1,120 shares during the period. State of Alaska Department of Revenue's holdings in Travelers Companies were worth $14,299,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Cornerstone Planning Group LLC increased its holdings in shares of Travelers Companies by 700.0% during the 1st quarter. Cornerstone Planning Group LLC now owns 96 shares of the insurance provider's stock worth $25,000 after buying an additional 84 shares during the last quarter. Ameriflex Group Inc. acquired a new stake in shares of Travelers Companies during the 4th quarter worth $26,000. Greykasell Wealth Strategies Inc. acquired a new stake in shares of Travelers Companies during the 1st quarter worth $26,000. Missouri Trust & Investment Co increased its holdings in shares of Travelers Companies by 122.2% during the 2nd quarter. Missouri Trust & Investment Co now owns 100 shares of the insurance provider's stock worth $27,000 after buying an additional 55 shares during the last quarter. Finally, Flaharty Asset Management LLC acquired a new stake in shares of Travelers Companies during the 1st quarter worth $32,000. 82.45% of the stock is currently owned by institutional investors and hedge funds.

Travelers Companies Stock Performance

NYSE:TRV opened at $277.73 on Friday. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.33 and a quick ratio of 0.33. The firm has a 50-day moving average of $270.00 and a two-hundred day moving average of $264.74. The stock has a market cap of $62.53 billion, a P/E ratio of 12.28, a PEG ratio of 3.15 and a beta of 0.53. The Travelers Companies, Inc. has a 1-year low of $224.62 and a 1-year high of $280.70.

Travelers Companies (NYSE:TRV - Get Free Report) last posted its quarterly earnings data on Thursday, July 17th. The insurance provider reported $6.51 earnings per share for the quarter, beating analysts' consensus estimates of $3.52 by $2.99. The company had revenue of $11.54 billion during the quarter, compared to analysts' expectations of $11.02 billion. Travelers Companies had a net margin of 10.97% and a return on equity of 18.68%. The firm's revenue for the quarter was up 7.4% on a year-over-year basis. During the same period in the prior year, the company posted $2.51 EPS. On average, research analysts expect that The Travelers Companies, Inc. will post 17.02 earnings per share for the current fiscal year.

Travelers Companies Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Wednesday, September 10th will be given a $1.10 dividend. This represents a $4.40 dividend on an annualized basis and a yield of 1.6%. The ex-dividend date of this dividend is Wednesday, September 10th. Travelers Companies's dividend payout ratio is presently 19.46%.

Insider Transactions at Travelers Companies

In other Travelers Companies news, EVP Gregory C. Toczydlowski sold 11,505 shares of the company's stock in a transaction dated Monday, July 21st. The shares were sold at an average price of $266.12, for a total value of $3,061,710.60. Following the completion of the transaction, the executive vice president directly owned 18,416 shares of the company's stock, valued at $4,900,865.92. This represents a 38.45% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Mojgan M. Lefebvre sold 16,820 shares of the company's stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $277.54, for a total transaction of $4,668,222.80. The disclosure for this sale can be found here. Corporate insiders own 1.46% of the company's stock.

Analyst Ratings Changes

TRV has been the subject of a number of research analyst reports. Wolfe Research initiated coverage on Travelers Companies in a report on Monday, September 15th. They set a "peer perform" rating for the company. Wells Fargo & Company increased their price target on Travelers Companies from $264.00 to $275.00 and gave the company an "equal weight" rating in a report on Friday, July 18th. Barclays downgraded Travelers Companies from an "overweight" rating to an "equal weight" rating and lowered their price target for the company from $280.00 to $274.00 in a report on Monday, July 7th. Keefe, Bruyette & Woods increased their price target on Travelers Companies from $304.00 to $316.00 and gave the company an "outperform" rating in a report on Friday, July 18th. Finally, Wall Street Zen downgraded Travelers Companies from a "buy" rating to a "hold" rating in a report on Saturday, August 9th. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, eleven have issued a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $284.56.

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. The company operates through three segments: Business Insurance, Bond & Specialty Insurance, and Personal Insurance.

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