Summit Global Investments bought a new stake in The Travelers Companies, Inc. (NYSE:TRV - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 13,156 shares of the insurance provider's stock, valued at approximately $3,479,000.
Several other hedge funds have also recently made changes to their positions in TRV. Bank of America Corp DE increased its position in shares of Travelers Companies by 236.9% in the 4th quarter. Bank of America Corp DE now owns 3,507,219 shares of the insurance provider's stock valued at $844,854,000 after acquiring an additional 2,466,098 shares during the period. Norges Bank acquired a new stake in Travelers Companies during the 4th quarter worth about $560,918,000. GAMMA Investing LLC grew its position in Travelers Companies by 31,132.9% during the 1st quarter. GAMMA Investing LLC now owns 2,203,481 shares of the insurance provider's stock worth $582,733,000 after purchasing an additional 2,196,426 shares during the period. Balyasny Asset Management L.P. grew its position in Travelers Companies by 153.8% during the 4th quarter. Balyasny Asset Management L.P. now owns 1,497,339 shares of the insurance provider's stock worth $360,694,000 after purchasing an additional 907,266 shares during the period. Finally, Raymond James Financial Inc. acquired a new stake in Travelers Companies during the 4th quarter worth about $138,619,000. 82.45% of the stock is owned by institutional investors and hedge funds.
Analyst Ratings Changes
TRV has been the topic of several analyst reports. JPMorgan Chase & Co. increased their price target on Travelers Companies from $260.00 to $271.00 and gave the stock an "underweight" rating in a research report on Tuesday, April 8th. Morgan Stanley set a $269.00 price target on Travelers Companies and gave the stock an "equal weight" rating in a research report on Monday, May 19th. UBS Group cut their price target on Travelers Companies from $270.00 to $267.00 and set a "neutral" rating on the stock in a research report on Wednesday, April 9th. Jefferies Financial Group increased their price target on Travelers Companies from $265.00 to $270.00 and gave the stock a "hold" rating in a research report on Friday, April 11th. Finally, HSBC downgraded Travelers Companies from a "buy" rating to a "hold" rating and set a $270.00 price target on the stock. in a research report on Monday, March 24th. Three investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $271.11.
Get Our Latest Research Report on Travelers Companies
Travelers Companies Price Performance
Travelers Companies stock traded up $1.54 during midday trading on Friday, reaching $275.95. The company had a trading volume of 2,689,910 shares, compared to its average volume of 1,296,158. The company has a market capitalization of $62.52 billion, a P/E ratio of 12.85, a P/E/G ratio of 4.65 and a beta of 0.53. The Travelers Companies, Inc. has a 12-month low of $200.21 and a 12-month high of $277.65. The firm's fifty day simple moving average is $261.47 and its 200-day simple moving average is $253.61. The company has a debt-to-equity ratio of 0.29, a current ratio of 0.33 and a quick ratio of 0.33.
Travelers Companies (NYSE:TRV - Get Free Report) last issued its quarterly earnings results on Wednesday, April 16th. The insurance provider reported $1.91 earnings per share for the quarter, beating analysts' consensus estimates of $0.53 by $1.38. The firm had revenue of $10.52 billion for the quarter, compared to analyst estimates of $10.97 billion. Travelers Companies had a net margin of 10.77% and a return on equity of 19.06%. During the same period last year, the company posted $4.69 EPS. As a group, equities analysts anticipate that The Travelers Companies, Inc. will post 17.02 EPS for the current year.
Travelers Companies Increases Dividend
The firm also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Tuesday, June 10th will be paid a $1.10 dividend. This represents a $4.40 dividend on an annualized basis and a yield of 1.59%. This is a positive change from Travelers Companies's previous quarterly dividend of $1.05. The ex-dividend date of this dividend is Tuesday, June 10th. Travelers Companies's dividend payout ratio (DPR) is 23.95%.
Insiders Place Their Bets
In other Travelers Companies news, Vice Chairman William H. Heyman sold 2,000 shares of the firm's stock in a transaction that occurred on Thursday, May 29th. The shares were sold at an average price of $274.50, for a total value of $549,000.00. Following the transaction, the insider now directly owns 255,086 shares of the company's stock, valued at $70,021,107. This trade represents a 0.78% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Paul E. Munson sold 4,052 shares of the firm's stock in a transaction that occurred on Thursday, May 29th. The stock was sold at an average price of $273.29, for a total transaction of $1,107,371.08. Following the completion of the transaction, the senior vice president now directly owns 735 shares in the company, valued at $200,868.15. This trade represents a 84.65% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 163,869 shares of company stock valued at $44,868,201 in the last ninety days. 1.46% of the stock is currently owned by corporate insiders.
About Travelers Companies
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Free Report)
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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