Everence Capital Management Inc. grew its holdings in Travelers Companies Inc (NYSE:TRV) by 43.5% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,557 shares of the insurance provider’s stock after purchasing an additional 3,504 shares during the quarter. Everence Capital Management Inc.’s holdings in Travelers Companies were worth $1,585,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. MinichMacGregor Wealth Management LLC raised its position in shares of Travelers Companies by 2,427.3% during the 4th quarter. MinichMacGregor Wealth Management LLC now owns 11,575 shares of the insurance provider’s stock valued at $1,418,000 after buying an additional 11,117 shares during the period. Raymond James Financial Services Advisors Inc. raised its position in shares of Travelers Companies by 10.9% during the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 103,297 shares of the insurance provider’s stock valued at $12,371,000 after buying an additional 10,145 shares during the period. Lodestar Investment Counsel LLC IL raised its position in shares of Travelers Companies by 1.9% during the 4th quarter. Lodestar Investment Counsel LLC IL now owns 70,121 shares of the insurance provider’s stock valued at $8,397,000 after buying an additional 1,275 shares during the period. Nachman Norwood & Parrott Inc purchased a new stake in shares of Travelers Companies during the 4th quarter valued at approximately $300,000. Finally, Garner Asset Management Corp raised its position in shares of Travelers Companies by 28.7% during the 4th quarter. Garner Asset Management Corp now owns 12,008 shares of the insurance provider’s stock valued at $1,438,000 after buying an additional 2,678 shares during the period. 80.52% of the stock is currently owned by institutional investors and hedge funds.
Several analysts have recently commented on the stock. Morgan Stanley lifted their price target on shares of Travelers Companies from $119.00 to $130.00 and gave the company an “underweight” rating in a research report on Tuesday, April 30th. Royal Bank of Canada reaffirmed a “neutral” rating and set a $145.00 price target on shares of Travelers Companies in a research report on Thursday, April 18th. Barclays lifted their price target on shares of Travelers Companies from $145.00 to $160.00 and gave the company an “overweight” rating in a research report on Monday, April 1st. Zacks Investment Research lowered shares of Travelers Companies from a “buy” rating to a “hold” rating in a research report on Thursday, April 4th. Finally, MKM Partners lifted their price target on shares of Travelers Companies to $140.00 and gave the company a “neutral” rating in a research report on Monday, April 22nd. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and two have assigned a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $140.58.
Travelers Companies (NYSE:TRV) last posted its earnings results on Thursday, April 18th. The insurance provider reported $2.83 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.76 by $0.07. Travelers Companies had a net margin of 8.64% and a return on equity of 10.86%. The firm had revenue of $6.86 billion during the quarter, compared to the consensus estimate of $6.94 billion. During the same quarter last year, the firm earned $2.46 EPS. The firm’s revenue for the quarter was up 4.9% on a year-over-year basis. On average, sell-side analysts expect that Travelers Companies Inc will post 11.11 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Monday, June 10th will be issued a $0.82 dividend. This represents a $3.28 annualized dividend and a yield of 2.29%. The ex-dividend date of this dividend is Friday, June 7th. This is an increase from Travelers Companies’s previous quarterly dividend of $0.77. Travelers Companies’s dividend payout ratio (DPR) is 34.45%.
In related news, CEO Alan D. Schnitzer sold 66,228 shares of Travelers Companies stock in a transaction that occurred on Monday, February 25th. The shares were sold at an average price of $132.22, for a total value of $8,756,666.16. Following the completion of the sale, the chief executive officer now owns 134,252 shares in the company, valued at approximately $17,750,799.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Gregory C. Toczydlowski sold 25,000 shares of the business’s stock in a transaction on Tuesday, May 7th. The stock was sold at an average price of $143.02, for a total transaction of $3,575,500.00. Following the completion of the transaction, the executive vice president now owns 38,219 shares of the company’s stock, valued at approximately $5,466,081.38. The disclosure for this sale can be found here. Insiders sold a total of 299,931 shares of company stock valued at $41,245,380 in the last quarter. 0.73% of the stock is owned by insiders.
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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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