Travelers Companies Inc (NYSE:TRV) Short Interest Down 6.4% in June

Travelers Companies Inc (NYSE:TRV) was the target of a large drop in short interest in the month of June. As of June 15th, there was short interest totalling 4,007,200 shares, a drop of 6.4% from the May 15th total of 4,281,900 shares. Based on an average daily volume of 1,260,000 shares, the days-to-cover ratio is currently 3.2 days. Approximately 1.5% of the shares of the company are sold short.

Shares of TRV stock opened at $153.39 on Friday. The company has a fifty day moving average price of $150.06. The company has a quick ratio of 0.38, a current ratio of 0.38 and a debt-to-equity ratio of 0.29. The stock has a market cap of $40.08 billion, a price-to-earnings ratio of 17.16, a P/E/G ratio of 1.39 and a beta of 0.96. Travelers Companies has a fifty-two week low of $111.08 and a fifty-two week high of $154.73.

Travelers Companies (NYSE:TRV) last announced its quarterly earnings data on Thursday, April 18th. The insurance provider reported $2.83 earnings per share for the quarter, beating analysts’ consensus estimates of $2.76 by $0.07. Travelers Companies had a return on equity of 10.86% and a net margin of 8.64%. The company had revenue of $6.86 billion for the quarter, compared to analyst estimates of $6.94 billion. During the same quarter last year, the firm posted $2.46 EPS. The firm’s revenue for the quarter was up 4.9% on a year-over-year basis. As a group, equities research analysts predict that Travelers Companies will post 11.07 earnings per share for the current year.

The business also recently declared a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Monday, June 10th were issued a dividend of $0.82 per share. This represents a $3.28 annualized dividend and a dividend yield of 2.14%. The ex-dividend date was Friday, June 7th. This is a positive change from Travelers Companies’s previous quarterly dividend of $0.77. Travelers Companies’s payout ratio is currently 36.69%.

In related news, Vice Chairman William H. Heyman sold 10,000 shares of Travelers Companies stock in a transaction on Friday, May 17th. The shares were sold at an average price of $147.75, for a total value of $1,477,500.00. Following the sale, the insider now owns 247,245 shares of the company’s stock, valued at approximately $36,530,448.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Vice Chairman William H. Heyman sold 2,000 shares of Travelers Companies stock in a transaction on Friday, April 26th. The shares were sold at an average price of $140.00, for a total transaction of $280,000.00. Following the completion of the sale, the insider now directly owns 241,745 shares in the company, valued at approximately $33,844,300. The disclosure for this sale can be found here. Insiders have sold a total of 211,860 shares of company stock worth $30,020,402 in the last ninety days. Corporate insiders own 0.73% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of TRV. BlackRock Inc. raised its holdings in shares of Travelers Companies by 7.3% during the 1st quarter. BlackRock Inc. now owns 22,604,259 shares of the insurance provider’s stock worth $3,100,401,000 after acquiring an additional 1,528,327 shares during the period. Norges Bank purchased a new position in shares of Travelers Companies during the 4th quarter worth $143,417,000. FMR LLC raised its holdings in shares of Travelers Companies by 9.4% during the 1st quarter. FMR LLC now owns 10,500,482 shares of the insurance provider’s stock worth $1,440,247,000 after acquiring an additional 904,028 shares during the period. American Century Companies Inc. increased its position in shares of Travelers Companies by 253.6% during the 4th quarter. American Century Companies Inc. now owns 1,082,948 shares of the insurance provider’s stock worth $129,683,000 after purchasing an additional 776,679 shares during the last quarter. Finally, FIL Ltd increased its position in shares of Travelers Companies by 44.8% during the 1st quarter. FIL Ltd now owns 1,450,421 shares of the insurance provider’s stock worth $198,939,000 after purchasing an additional 448,948 shares during the last quarter. Institutional investors and hedge funds own 80.57% of the company’s stock.

A number of equities research analysts recently issued reports on the stock. ValuEngine raised shares of Vistra Energy from a “hold” rating to a “buy” rating in a research note on Wednesday, July 3rd. UBS Group lifted their price target on shares of Willis Towers Watson from $202.00 to $220.00 and gave the company a “buy” rating in a research note on Wednesday. Barclays set a $34.00 price target on shares of DCP Midstream and gave the company a “hold” rating in a research note on Wednesday, May 22nd. Deutsche Bank reissued a “hold” rating on shares of Steel Dynamics in a research note on Thursday, June 27th. Finally, MKM Partners raised their price objective on Travelers Companies to $140.00 and gave the company a “neutral” rating in a report on Monday, April 22nd. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and three have issued a buy rating to the company. Travelers Companies presently has an average rating of “Hold” and an average target price of $144.93.

About Travelers Companies

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.

Further Reading: Cost of Debt

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