Elkhorn Investments LLC cut its position in shares of Travelers Companies Inc (NYSE:TRV) by 3.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 11,112 shares of the insurance provider’s stock after selling 416 shares during the quarter. Travelers Companies accounts for 1.1% of Elkhorn Investments LLC’s portfolio, making the stock its 15th biggest holding. Elkhorn Investments LLC’s holdings in Travelers Companies were worth $1,441,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds have also recently added to or reduced their stakes in the company. Stelac Advisory Services LLC acquired a new stake in Travelers Companies during the fourth quarter worth about $101,000. Field & Main Bank acquired a new stake in Travelers Companies during the fourth quarter worth about $102,000. Fieldpoint Private Securities LLC acquired a new stake in Travelers Companies during the third quarter worth about $106,000. Valeo Financial Advisors LLC acquired a new stake in Travelers Companies during the third quarter worth about $108,000. Finally, Captrust Financial Advisors acquired a new stake in Travelers Companies during the fourth quarter worth about $127,000. 80.15% of the stock is currently owned by institutional investors and hedge funds.
In other news, Vice Chairman William H. Heyman sold 2,022 shares of Travelers Companies stock in a transaction that occurred on Wednesday, February 14th. The shares were sold at an average price of $140.37, for a total value of $283,828.14. Following the completion of the transaction, the insider now owns 242,244 shares in the company, valued at $34,003,790.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Thomas M. Kunkel sold 9,595 shares of Travelers Companies stock in a transaction that occurred on Friday, January 26th. The shares were sold at an average price of $150.09, for a total transaction of $1,440,113.55. Following the completion of the transaction, the executive vice president now owns 28,956 shares of the company’s stock, valued at approximately $4,346,006.04. The disclosure for this sale can be found here. Insiders sold 182,727 shares of company stock valued at $26,828,165 in the last quarter. 0.82% of the stock is currently owned by corporate insiders.
Travelers Companies (NYSE:TRV) last posted its earnings results on Tuesday, January 23rd. The insurance provider reported $2.28 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.56 by ($0.28). Travelers Companies had a net margin of 7.13% and a return on equity of 8.61%. The firm had revenue of $7.45 billion during the quarter, compared to the consensus estimate of $6.47 billion. During the same quarter last year, the firm posted $3.20 EPS. The business’s revenue was up 3.6% on a year-over-year basis. analysts anticipate that Travelers Companies Inc will post 10.59 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, March 30th. Stockholders of record on Friday, March 9th will be paid a $0.72 dividend. This represents a $2.88 dividend on an annualized basis and a dividend yield of 2.04%. The ex-dividend date of this dividend is Thursday, March 8th. Travelers Companies’s dividend payout ratio (DPR) is currently 39.40%.
A number of equities research analysts recently weighed in on TRV shares. Barclays reissued a “hold” rating and set a $140.00 target price (up from $135.00) on shares of Travelers Companies in a research report on Sunday, February 18th. Keefe, Bruyette & Woods restated a “buy” rating and set a $152.00 price target on shares of Travelers Companies in a research note on Wednesday, December 6th. Wells Fargo & Co restated a “market perform” rating and set a $142.00 price target on shares of Travelers Companies in a research note on Tuesday, January 23rd. Goldman Sachs Group started coverage on shares of Travelers Companies in a research note on Monday, December 4th. They set a “sell” rating and a $124.00 price target for the company. Finally, Zacks Investment Research cut shares of Travelers Companies from a “buy” rating to a “hold” rating in a research note on Tuesday. Three equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and seven have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $137.20.
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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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