Chevy Chase Trust Holdings LLC cut its position in shares of The Travelers Companies, Inc. (NYSE:TRV - Free Report) by 4.0% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 115,425 shares of the insurance provider's stock after selling 4,764 shares during the period. Chevy Chase Trust Holdings LLC owned 0.05% of Travelers Companies worth $32,229,000 as of its most recent SEC filing.
Several other institutional investors have also made changes to their positions in TRV. Barnes Dennig Private Wealth Management LLC grew its stake in shares of Travelers Companies by 134.1% in the 3rd quarter. Barnes Dennig Private Wealth Management LLC now owns 96 shares of the insurance provider's stock valued at $27,000 after buying an additional 55 shares in the last quarter. Osterweis Capital Management Inc. raised its position in Travelers Companies by 1,820.0% during the second quarter. Osterweis Capital Management Inc. now owns 96 shares of the insurance provider's stock valued at $26,000 after acquiring an additional 91 shares in the last quarter. Delos Wealth Advisors LLC acquired a new stake in Travelers Companies in the second quarter valued at approximately $27,000. Clayton Financial Group LLC acquired a new stake in Travelers Companies in the third quarter valued at approximately $28,000. Finally, Twin Peaks Wealth Advisors LLC bought a new stake in Travelers Companies in the second quarter worth approximately $30,000. 82.45% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
TRV has been the topic of a number of recent research reports. Evercore raised their price target on shares of Travelers Companies from $309.00 to $317.00 and gave the company an "outperform" rating in a report on Wednesday, January 7th. Wells Fargo & Company decreased their price objective on shares of Travelers Companies from $307.00 to $285.00 and set an "equal weight" rating for the company in a report on Thursday, January 22nd. Mizuho lowered their target price on shares of Travelers Companies from $315.00 to $304.00 and set a "neutral" rating on the stock in a research report on Thursday, January 22nd. The Goldman Sachs Group cut Travelers Companies from a "buy" rating to a "neutral" rating and set a $304.00 price target for the company. in a research report on Wednesday, January 7th. Finally, Argus upgraded Travelers Companies to a "strong-buy" rating in a research note on Monday, January 26th. Two analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating, eleven have given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $304.33.
Check Out Our Latest Analysis on TRV
Travelers Companies Price Performance
NYSE TRV opened at $302.54 on Monday. The stock has a 50-day simple moving average of $292.03 and a 200 day simple moving average of $284.43. The Travelers Companies, Inc. has a twelve month low of $230.43 and a twelve month high of $313.12. The stock has a market capitalization of $65.42 billion, a PE ratio of 10.99, a P/E/G ratio of 2.81 and a beta of 0.49. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.33 and a current ratio of 0.33.
Travelers Companies (NYSE:TRV - Get Free Report) last released its earnings results 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 return on equity of 20.70% and a net margin of 12.88%.The firm had revenue of $12.43 billion for the quarter, compared to analyst estimates of $11.13 billion. During the same quarter last year, the firm posted $9.15 EPS. The company's revenue was up 3.5% on a year-over-year basis. Research analysts anticipate that The Travelers Companies, Inc. will post 17.02 EPS for the current year.
Travelers Companies Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Tuesday, March 10th will be given a dividend of $1.10 per share. The ex-dividend date of this dividend is Tuesday, March 10th. This represents a $4.40 dividend on an annualized basis and a yield of 1.5%. Travelers Companies's payout ratio is 15.98%.
Travelers Companies announced that its Board of Directors has authorized a stock buyback program on Wednesday, January 21st that permits the company to buyback $5.00 billion in outstanding shares. This buyback authorization permits the insurance provider to buy up to 8.3% of its shares through open market purchases. Shares buyback programs are often a sign that the company's management believes its shares are undervalued.
Insider Activity at Travelers Companies
In other news, EVP Maria Olivo sold 10,400 shares of the company's stock in a transaction dated Friday, February 6th. The shares were sold at an average price of $300.75, for a total transaction of $3,127,800.00. Following the completion of the transaction, the executive vice president owned 117,596 shares of the company's stock, valued at approximately $35,366,997. This represents a 8.13% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Alan D. Schnitzer sold 55,733 shares of Travelers Companies stock in a transaction dated 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 sale, the chief executive officer directly owned 260,329 shares in the company, valued at approximately $76,718,956.30. This trade represents a 17.63% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 92,845 shares of company stock valued at $27,239,631 in the last 90 days. 1.46% of the stock is owned by company insiders.
Travelers Companies Company Profile
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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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