The Travelers Companies, Inc. (TRV) Vice Chairman Sells $713,753.30 in Stock
The Travelers Companies, Inc. (NYSE:TRV) Vice Chairman Jay S. Benet sold 5,518 shares of the business’s stock in a transaction dated Monday, August 7th. The shares were sold at an average price of $129.35, for a total value of $713,753.30. Following the completion of the transaction, the insider now owns 82,824 shares in the company, valued at $10,713,284.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.
Shares of The Travelers Companies, Inc. (NYSE:TRV) traded down 0.19% during midday trading on Tuesday, reaching $128.55. The company’s stock had a trading volume of 1,041,372 shares. The Travelers Companies, Inc. has a 52 week low of $103.45 and a 52 week high of $129.60. The stock has a market capitalization of $35.47 billion, a PE ratio of 12.80 and a beta of 1.20. The company has a 50 day moving average price of $126.93 and a 200-day moving average price of $122.59.
The Travelers Companies (NYSE:TRV) last released its earnings results on Thursday, July 20th. The insurance provider reported $1.92 earnings per share for the quarter, missing the Zacks’ consensus estimate of $2.07 by $0.15. The Travelers Companies had a return on equity of 11.68% and a net margin of 10.15%. The business had revenue of $6.35 billion during the quarter, compared to analysts’ expectations of $6.31 billion. During the same period last year, the business earned $2.20 earnings per share. The company’s revenue for the quarter was up 4.7% compared to the same quarter last year. On average, equities research analysts expect that The Travelers Companies, Inc. will post $8.92 EPS for the current year.
The Travelers Companies declared that its board has authorized a share buyback program on Thursday, April 20th that allows the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization allows the insurance provider to purchase shares of its stock through open market purchases. Shares repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Friday, September 8th will be paid a $0.72 dividend. This represents a $2.88 dividend on an annualized basis and a yield of 2.24%. The ex-dividend date of this dividend is Thursday, September 7th. The Travelers Companies’s dividend payout ratio (DPR) is 28.77%.
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A number of hedge funds and other institutional investors have recently added to or reduced their stakes in TRV. Pinnacle Bank acquired a new position in The Travelers Companies during the first quarter worth $564,000. Tompkins Financial Corp raised its position in The Travelers Companies by 0.3% in the first quarter. Tompkins Financial Corp now owns 21,796 shares of the insurance provider’s stock worth $2,544,000 after buying an additional 60 shares during the period. BLB&B Advisors LLC raised its position in The Travelers Companies by 1.9% in the first quarter. BLB&B Advisors LLC now owns 5,402 shares of the insurance provider’s stock worth $651,000 after buying an additional 100 shares during the period. Atria Investments LLC raised its position in The Travelers Companies by 8.9% in the first quarter. Atria Investments LLC now owns 22,060 shares of the insurance provider’s stock worth $2,659,000 after buying an additional 1,812 shares during the period. Finally, TNB Financial acquired a new position in The Travelers Companies during the first quarter worth $358,000. 78.95% of the stock is currently owned by institutional investors and hedge funds.
A number of research firms recently commented on TRV. MKM Partners reiterated a “neutral” rating and issued a $130.00 target price (up from $115.00) on shares of The Travelers Companies in a research report on Wednesday, July 26th. BidaskClub downgraded The Travelers Companies from a “hold” rating to a “sell” rating in a research report on Monday, July 24th. Citigroup Inc. reiterated a “buy” rating and issued a $148.00 target price (down from $150.00) on shares of The Travelers Companies in a research report on Monday, July 24th. Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $115.00 target price on shares of The Travelers Companies in a research report on Thursday, May 25th. Finally, Royal Bank Of Canada reiterated a “buy” rating and issued a $126.00 target price on shares of The Travelers Companies in a research report on Monday, May 22nd. Five investment analysts have rated the stock with a sell rating, seven have given a hold rating and six have given a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $123.79.
The Travelers Companies Company 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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