Riverhead Capital Management LLC trimmed its holdings in shares of Travelers Companies Inc (NYSE:TRV) by 17.5% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 27,368 shares of the insurance provider’s stock after selling 5,817 shares during the period. Riverhead Capital Management LLC’s holdings in Travelers Companies were worth $3,550,000 at the end of the most recent reporting period.
A number of other hedge funds have also made changes to their positions in TRV. Weatherstone Capital Management lifted its position in shares of Travelers Companies by 14.8% during the third quarter. Weatherstone Capital Management now owns 3,149 shares of the insurance provider’s stock worth $408,000 after purchasing an additional 405 shares in the last quarter. Elmwood Wealth Management Inc. lifted its position in shares of Travelers Companies by 6.3% during the third quarter. Elmwood Wealth Management Inc. now owns 7,096 shares of the insurance provider’s stock worth $920,000 after purchasing an additional 420 shares in the last quarter. Honkamp Krueger Financial Services Inc. lifted its position in shares of Travelers Companies by 14.6% during the third quarter. Honkamp Krueger Financial Services Inc. now owns 3,323 shares of the insurance provider’s stock worth $431,000 after purchasing an additional 424 shares in the last quarter. CIBC Asset Management Inc lifted its position in shares of Travelers Companies by 1.6% during the second quarter. CIBC Asset Management Inc now owns 26,640 shares of the insurance provider’s stock worth $3,259,000 after purchasing an additional 425 shares in the last quarter. Finally, First Interstate Bank lifted its position in shares of Travelers Companies by 44.6% during the third quarter. First Interstate Bank now owns 1,381 shares of the insurance provider’s stock worth $179,000 after purchasing an additional 426 shares in the last quarter. 79.50% of the stock is currently owned by hedge funds and other institutional investors.
TRV opened at $123.56 on Friday. The firm has a market capitalization of $33.22 billion, a P/E ratio of 16.97, a P/E/G ratio of 1.02 and a beta of 1.19. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.39 and a current ratio of 0.39. Travelers Companies Inc has a 12-month low of $119.67 and a 12-month high of $150.55.
Travelers Companies (NYSE:TRV) last posted its quarterly earnings results on Thursday, October 18th. The insurance provider reported $2.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.26 by $0.28. The firm had revenue of $6.88 billion for the quarter, compared to analysts’ expectations of $6.83 billion. Travelers Companies had a net margin of 8.18% and a return on equity of 10.86%. The firm’s quarterly revenue was up 5.5% on a year-over-year basis. During the same period in the prior year, the company posted $0.91 earnings per share. As a group, equities research analysts anticipate that Travelers Companies Inc will post 9.66 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Monday, December 31st. Investors of record on Monday, December 10th will be issued a $0.77 dividend. The ex-dividend date is Friday, December 7th. This represents a $3.08 annualized dividend and a yield of 2.49%. Travelers Companies’s dividend payout ratio is presently 42.31%.
In related news, EVP Andy F. Bessette sold 1,666 shares of the company’s stock in a transaction on Wednesday, November 14th. The shares were sold at an average price of $126.17, for a total value of $210,199.22. Following the sale, the executive vice president now directly owns 8,457 shares of the company’s stock, valued at $1,067,019.69. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.80% of the company’s stock.
A number of research analysts have recently commented on TRV shares. Zacks Investment Research raised shares of Travelers Companies from a “sell” rating to a “hold” rating in a research report on Friday, October 12th. Credit Suisse Group set a $141.00 price target on shares of Travelers Companies and gave the company a “hold” rating in a report on Wednesday, November 14th. Wells Fargo & Co cut their price target on shares of Travelers Companies from $142.00 to $136.00 and set a “market perform” rating on the stock in a report on Friday, October 19th. TheStreet raised shares of Travelers Companies from a “c+” rating to a “b” rating in a report on Thursday, August 30th. Finally, Citigroup cut shares of Travelers Companies from a “buy” rating to a “neutral” rating and cut their price target for the company from $149.00 to $134.00 in a report on Friday, October 19th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and three have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $136.08.
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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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