Insider Selling: Travelers Companies Chairman Sells 29,500 Shares of Stock (TRV)
Travelers Companies (NYSE:TRV) Chairman Doreen Spadorcia sold 29,500 shares of the company’s stock on the open market in a transaction dated Wednesday, August 13th. The stock was sold at an average price of $91.16, for a total transaction of $2,689,220.00. Following the completion of the transaction, the chairman now directly owns 13,621 shares of the company’s stock, valued at approximately $1,241,690. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.
Shares of Travelers Companies (NYSE:TRV) traded up 1.04% during mid-day trading on Thursday, hitting $92.22. The stock had a trading volume of 1,076,343 shares. Travelers Companies has a 1-year low of $79.12 and a 1-year high of $96.18. The stock’s 50-day moving average is $92.79 and its 200-day moving average is $88.93. The company has a market cap of $31.267 billion and a P/E ratio of 9.21.
Travelers Companies (NYSE:TRV) last announced its earnings results on Tuesday, July 22nd. The company reported $1.93 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.07 by $0.14. The company had revenue of $6.79 billion for the quarter, compared to the consensus estimate of $6.16 billion. During the same quarter in the previous year, the company posted $2.13 earnings per share. The company’s revenue for the quarter was up 5.8% on a year-over-year basis. Analysts expect that Travelers Companies will post $9.25 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Tuesday, September 30th. Investors of record on Wednesday, September 10th will be given a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a yield of 2.41%. The ex-dividend date of this dividend is Monday, September 8th.
A number of research firms have recently commented on TRV. Analysts at Sandler O’Neill downgraded shares of Travelers Companies from a “buy” rating to a “hold” rating in a research note on Monday, July 28th. Separately, analysts at FBR Capital Markets raised their price target on shares of Travelers Companies from $99.00 to $107.00 in a research note on Monday, July 21st. They now have an “outperform” rating on the stock. Finally, analysts at BMO Capital Markets downgraded shares of Travelers Companies from an “outperform” rating to a “market perform” rating in a research note on Monday, June 16th. They now have a $98.00 price target on the stock, up previously from $96.00. They noted that the move was a valuation call. One research analyst has rated the stock with a sell rating, six have given a hold rating and five have issued a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $97.89.
The Travelers Companies, Inc (NYSE:TRV) is a holding company.
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