Auxier Asset Management trimmed its holdings in shares of Travelers Companies Inc (NYSE:TRV) by 1.1% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 72,300 shares of the insurance provider’s stock after selling 820 shares during the period. Travelers Companies makes up about 1.8% of Auxier Asset Management’s investment portfolio, making the stock its 16th largest holding. Auxier Asset Management’s holdings in Travelers Companies were worth $8,845,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also modified their holdings of TRV. Old Mutual Global Investors UK Ltd. boosted its stake in Travelers Companies by 223.2% during the 1st quarter. Old Mutual Global Investors UK Ltd. now owns 1,700,269 shares of the insurance provider’s stock valued at $236,099,000 after purchasing an additional 1,174,173 shares during the last quarter. BlackRock Inc. boosted its stake in Travelers Companies by 4.5% during the 1st quarter. BlackRock Inc. now owns 21,504,503 shares of the insurance provider’s stock valued at $2,986,115,000 after purchasing an additional 932,105 shares during the last quarter. Millennium Management LLC boosted its stake in Travelers Companies by 655.9% during the 2nd quarter. Millennium Management LLC now owns 600,893 shares of the insurance provider’s stock valued at $73,513,000 after purchasing an additional 521,397 shares during the last quarter. Bank of Montreal Can purchased a new stake in Travelers Companies during the 2nd quarter valued at $60,659,000. Finally, Rothschild Asset Management Inc. purchased a new stake in Travelers Companies during the 2nd quarter valued at $42,766,000. Institutional investors and hedge funds own 79.01% of the company’s stock.
In related news, EVP Andy F. Bessette sold 8,892 shares of the firm’s stock in a transaction on Friday, August 17th. The stock was sold at an average price of $130.78, for a total value of $1,162,895.76. Following the transaction, the executive vice president now directly owns 10,551 shares of the company’s stock, valued at approximately $1,379,859.78. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Vice Chairman Jay S. Benet sold 8,876 shares of the firm’s stock in a transaction on Tuesday, August 21st. The stock was sold at an average price of $132.00, for a total value of $1,171,632.00. Following the completion of the transaction, the insider now directly owns 94,176 shares in the company, valued at $12,431,232. The disclosure for this sale can be found here. 0.80% of the stock is currently owned by company insiders.
Several brokerages have commented on TRV. TheStreet downgraded Travelers Companies from a “b” rating to a “c+” rating in a research note on Thursday, July 19th. Citigroup increased their price target on Travelers Companies from $144.00 to $149.00 and gave the company a “buy” rating in a report on Monday, July 30th. Barclays lowered their price target on Travelers Companies from $140.00 to $135.00 and set an “equal weight” rating on the stock in a report on Monday, July 9th. MKM Partners lowered their price target on Travelers Companies to $125.00 and set a “neutral” rating on the stock in a report on Tuesday, July 24th. Finally, ValuEngine cut Travelers Companies from a “hold” rating to a “sell” rating in a report on Monday, June 18th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and six have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $137.93.
NYSE TRV opened at $128.83 on Friday. The firm has a market cap of $34.22 billion, a PE ratio of 17.70, a PEG ratio of 1.01 and a beta of 1.26. The company has a current ratio of 0.38, a quick ratio of 0.38 and a debt-to-equity ratio of 0.29. Travelers Companies Inc has a 1-year low of $118.75 and a 1-year high of $150.55.
Travelers Companies (NYSE:TRV) last released its quarterly earnings results on Thursday, July 19th. The insurance provider reported $1.81 earnings per share for the quarter, missing the consensus estimate of $2.43 by ($0.62). The firm had revenue of $7.44 billion for the quarter, compared to the consensus estimate of $7.35 billion. Travelers Companies had a net margin of 6.89% and a return on equity of 8.84%. analysts forecast that Travelers Companies Inc will post 9.95 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, September 28th. Investors of record on Monday, September 10th will be issued a $0.77 dividend. The ex-dividend date is Friday, September 7th. This represents a $3.08 dividend on an annualized basis and a yield of 2.39%. Travelers Companies’s dividend payout ratio is currently 42.31%.
About Travelers Companies
The Travelers Companies, Inc, through its subsidiaries, provides a range of commercial and personal property, and casualty insurance products and services to businesses, government units, associations, and individuals in the United states and internationally. The company operates through three segments: Business Insurance, Bond & Specialty Insurance, and Personal Insurance.
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