Community Bank N.A. increased its holdings in shares of Travelers Companies Inc (NYSE:TRV) by 31.2% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 6,600 shares of the insurance provider’s stock after acquiring an additional 1,570 shares during the period. Community Bank N.A.’s holdings in Travelers Companies were worth $753,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently made changes to their positions in the company. Massachusetts Financial Services Co. MA raised its position in Travelers Companies by 2.8% during the first quarter. Massachusetts Financial Services Co. MA now owns 12,181,595 shares of the insurance provider’s stock worth $1,210,242,000 after acquiring an additional 326,316 shares during the last quarter. Clearbridge Investments LLC grew its stake in Travelers Companies by 6.5% during the first quarter. Clearbridge Investments LLC now owns 3,937,005 shares of the insurance provider’s stock worth $391,141,000 after buying an additional 240,762 shares during the period. Capital International Investors acquired a new stake in shares of Travelers Companies in the first quarter worth $387,424,000. First Eagle Investment Management LLC increased its holdings in Travelers Companies by 48.9% in the 1st quarter. First Eagle Investment Management LLC now owns 3,885,425 shares of the insurance provider’s stock valued at $386,017,000 after purchasing an additional 1,275,720 shares in the last quarter. Finally, Geode Capital Management LLC lifted its stake in shares of Travelers Companies by 1.7% during the first quarter. Geode Capital Management LLC now owns 3,640,470 shares of the insurance provider’s stock worth $360,899,000 after purchasing an additional 61,609 shares in the last quarter. Institutional investors and hedge funds own 80.72% of the company’s stock.
TRV has been the topic of several analyst reports. Deutsche Bank raised their target price on Travelers Companies from $120.00 to $126.00 and gave the company a “hold” rating in a report on Monday, July 27th. Wells Fargo & Co restated a “sell” rating and set a $110.00 target price on shares of Travelers Companies in a research note on Tuesday, April 21st. Citigroup reduced their price target on Travelers Companies from $142.00 to $110.00 and set a “neutral” rating for the company in a report on Tuesday, April 21st. Piper Sandler lowered their price objective on Travelers Companies from $125.00 to $106.00 and set a “neutral” rating for the company in a research note on Monday, April 6th. Finally, Raymond James lowered Travelers Companies from a “market perform” rating to an “underperform” rating in a research report on Friday, April 24th. Four equities research analysts have rated the stock with a sell rating, nine have given a hold rating and five have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $127.76.
Travelers Companies (NYSE:TRV) last posted its quarterly earnings results on Thursday, July 23rd. The insurance provider reported ($0.20) earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of ($0.20). Travelers Companies had a net margin of 5.81% and a return on equity of 7.20%. The company had revenue of $7.40 billion for the quarter, compared to the consensus estimate of $7.75 billion. During the same period last year, the firm posted $2.02 EPS. On average, equities analysts expect that Travelers Companies Inc will post 8.53 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Thursday, September 10th will be paid a $0.85 dividend. The ex-dividend date is Wednesday, September 9th. This represents a $3.40 dividend on an annualized basis and a yield of 2.97%. Travelers Companies’s payout ratio is currently 35.42%.
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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