Travelers Companies Inc (TRV) Holdings Lifted by Swiss National Bank
Swiss National Bank raised its holdings in Travelers Companies Inc (NYSE:TRV) by 2.2% in the fourth quarter, HoldingsChannel.com reports. The firm owned 1,052,216 shares of the insurance provider’s stock after purchasing an additional 22,600 shares during the period. Swiss National Bank’s holdings in Travelers Companies were worth $142,723,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other large investors have also made changes to their positions in the business. Daiwa Securities Group Inc. grew its stake in Travelers Companies by 84.0% in the 4th quarter. Daiwa Securities Group Inc. now owns 59,829 shares of the insurance provider’s stock valued at $8,115,000 after purchasing an additional 27,315 shares during the period. California Public Employees Retirement System grew its stake in Travelers Companies by 5.2% in the 4th quarter. California Public Employees Retirement System now owns 884,175 shares of the insurance provider’s stock valued at $119,929,000 after purchasing an additional 43,842 shares during the period. BT Investment Management Ltd grew its stake in Travelers Companies by 15.4% in the 4th quarter. BT Investment Management Ltd now owns 114,416 shares of the insurance provider’s stock valued at $15,519,000 after purchasing an additional 15,226 shares during the period. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. grew its stake in Travelers Companies by 6.3% in the 4th quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 62,145 shares of the insurance provider’s stock valued at $8,228,000 after purchasing an additional 3,688 shares during the period. Finally, Aries Wealth Management bought a new position in Travelers Companies in the 4th quarter valued at $465,000. Hedge funds and other institutional investors own 79.21% of the company’s stock.
TRV has been the subject of a number of recent analyst reports. B. Riley restated a “neutral” rating on shares of Travelers Companies in a research note on Monday, November 6th. Keefe, Bruyette & Woods restated a “buy” rating and issued a $152.00 price objective on shares of Travelers Companies in a research note on Wednesday, December 6th. Royal Bank of Canada upped their price objective on Travelers Companies to $140.00 and gave the company an “outperform” rating in a research note on Friday, October 20th. Wells Fargo & Co restated a “market perform” rating and issued a $142.00 price objective on shares of Travelers Companies in a research note on Tuesday, January 23rd. Finally, Zacks Investment Research upgraded Travelers Companies from a “sell” rating to a “hold” rating in a research note on Wednesday, November 1st. Three investment analysts have rated the stock with a sell rating, nine have issued a hold rating and eight have issued a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $135.07.
Travelers Companies (NYSE:TRV) last posted 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 the consensus estimate of $6.47 billion. Travelers Companies had a return on equity of 8.61% and a net margin of 7.13%. The firm’s revenue was up 3.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $3.20 EPS. research analysts forecast that Travelers Companies Inc will post 10.59 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 30th. Investors of record on Friday, March 9th will be issued a dividend of $0.72 per share. The ex-dividend date of this dividend is Thursday, March 8th. This represents a $2.88 dividend on an annualized basis and a yield of 2.10%. Travelers Companies’s dividend payout ratio (DPR) is 39.40%.
Travelers Companies announced that its Board of Directors has initiated a share repurchase program on Thursday, November 9th that authorizes the company to buyback outstanding shares. This buyback authorization authorizes the insurance provider to buy shares of its stock through open market purchases. Shares buyback programs are often a sign that the company’s board believes its stock is undervalued.
In related news, EVP Gregory C. Toczydlowski sold 28,975 shares of the stock in a transaction dated Tuesday, January 30th. The stock was sold at an average price of $148.56, for a total transaction of $4,304,526.00. Following the sale, the executive vice president now owns 35,900 shares of the company’s stock, valued at approximately $5,333,304. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Todd C. Schermerhorn acquired 1,120 shares of the company’s stock in a transaction that occurred on Thursday, December 7th. The shares were bought at an average cost of $134.21 per share, for a total transaction of $150,315.20. The disclosure for this purchase can be found here. Insiders have sold a total of 183,599 shares of company stock worth $26,487,501 in the last three months. 0.82% of the stock is currently owned by insiders.
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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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