Daiwa Securities Group Inc. Buys 27,315 Shares of Travelers Companies Inc (TRV)
Daiwa Securities Group Inc. lifted its stake in Travelers Companies Inc (NYSE:TRV) by 84.0% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 59,829 shares of the insurance provider’s stock after buying an additional 27,315 shares during the quarter. Daiwa Securities Group Inc.’s holdings in Travelers Companies were worth $8,115,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds and other institutional investors also recently bought and sold shares of TRV. Scotia Capital Inc. grew its position in shares of Travelers Companies by 7.6% during the second quarter. Scotia Capital Inc. now owns 11,267 shares of the insurance provider’s stock worth $1,426,000 after purchasing an additional 791 shares in the last quarter. Intellectus Partners LLC grew its position in shares of Travelers Companies by 4.6% during the second quarter. Intellectus Partners LLC now owns 933 shares of the insurance provider’s stock worth $118,000 after purchasing an additional 41 shares in the last quarter. National Asset Management Inc. grew its position in shares of Travelers Companies by 11.6% during the second quarter. National Asset Management Inc. now owns 2,069 shares of the insurance provider’s stock worth $263,000 after purchasing an additional 215 shares in the last quarter. Verition Fund Management LLC grew its position in shares of Travelers Companies by 4.2% during the second quarter. Verition Fund Management LLC now owns 7,287 shares of the insurance provider’s stock worth $922,000 after purchasing an additional 291 shares in the last quarter. Finally, Koch Industries Inc. purchased a new stake in shares of Travelers Companies during the second quarter worth about $279,000. 79.21% of the stock is currently owned by hedge funds and other institutional investors.
Several analysts recently issued reports on TRV shares. Bank of America upgraded Travelers Companies from a “neutral” rating to a “buy” rating in a research report on Tuesday, January 9th. Royal Bank of Canada increased their target price on Travelers Companies to $140.00 and gave the stock an “outperform” rating in a research report on Friday, October 20th. Citigroup increased their target price on Travelers Companies from $143.00 to $151.00 and gave the stock a “buy” rating in a research report on Friday, October 20th. Wells Fargo & Co reiterated a “market perform” rating and set a $142.00 target price on shares of Travelers Companies in a research report on Tuesday, January 23rd. Finally, Zacks Investment Research upgraded Travelers Companies from a “sell” rating to a “hold” rating in a research report on Thursday, October 26th. Three investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and eight have given a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $135.07.
Travelers Companies (NYSE:TRV) last released its quarterly earnings results on Tuesday, January 23rd. The insurance provider reported $2.28 earnings per share for the quarter, missing the consensus estimate of $2.56 by ($0.28). The firm had revenue of $7.45 billion for the quarter, compared to analysts’ expectations of $6.47 billion. Travelers Companies had a net margin of 7.13% and a return on equity of 8.61%. The business’s quarterly revenue was up 3.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $3.20 EPS. equities research analysts expect that Travelers Companies Inc will post 10.59 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, March 30th. Stockholders of record on Friday, March 9th will be issued a $0.72 dividend. This represents a $2.88 dividend on an annualized basis and a dividend yield of 2.10%. The ex-dividend date of this dividend is Thursday, March 8th. Travelers Companies’s dividend payout ratio (DPR) is 33.33%.
Travelers Companies declared that its Board of Directors has approved a share buyback program on Thursday, November 9th that authorizes the company to repurchase shares. This repurchase authorization authorizes the insurance provider to reacquire shares of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s board believes its shares are undervalued.
In other news, Director Todd C. Schermerhorn sold 1,120 shares of Travelers Companies stock in a transaction that occurred on Friday, January 26th. The stock was sold at an average price of $149.08, for a total value of $166,969.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Michael Frederick Klein sold 20,077 shares of Travelers Companies stock in a transaction that occurred on Tuesday, November 21st. The stock was sold at an average price of $130.68, for a total value of $2,623,662.36. Following the completion of the transaction, the executive vice president now owns 21,619 shares of the company’s stock, valued at approximately $2,825,170.92. The disclosure for this sale can be found here. In the last quarter, insiders sold 183,599 shares of company stock valued at $26,487,501. Company insiders own 0.82% of the company’s stock.
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Travelers Companies Profile
The Travelers Companies, Inc is a holding company. The Company’s segments include Business and International Insurance; Bond & Specialty Insurance, and Personal Insurance. Through its subsidiaries, it provides commercial and personal property and casualty insurance products and services. The Business and International Insurance segment offers property and casualty insurance and insurance related services to its clients, in the United States and in Canada, as well as in the United Kingdom, the Republic of Ireland, Brazil and throughout other parts of the world.
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