Essex Financial Services Inc. increased its position in shares of The Travelers Cos. (NYSE:TRV) by 2.1% during the second quarter, Holdings Channel reports. The institutional investor owned 5,689 shares of the company’s stock after buying an additional 118 shares during the period. Essex Financial Services Inc.’s holdings in The Travelers Cos. were worth $677,000 as of its most recent SEC filing.
A number of other institutional investors also recently made changes to their positions in the stock. Associated Banc Corp bought a new position in shares of The Travelers Cos. during the first quarter worth about $205,000. Carnick & Kubik LLC raised its position in shares of The Travelers Cos. by 1.6% in the first quarter. Carnick & Kubik LLC now owns 5,509 shares of the company’s stock worth $643,000 after buying an additional 85 shares in the last quarter. AMF Pensionsforsakring AB raised its position in shares of The Travelers Cos. by 4.7% in the first quarter. AMF Pensionsforsakring AB now owns 60,120 shares of the company’s stock worth $7,017,000 after buying an additional 2,700 shares in the last quarter. Willis Investment Counsel raised its position in shares of The Travelers Cos. by 1.5% in the first quarter. Willis Investment Counsel now owns 59,000 shares of the company’s stock worth $6,886,000 after buying an additional 900 shares in the last quarter. Finally, Canada Pension Plan Investment Board raised its position in shares of The Travelers Cos. by 1.3% in the first quarter. Canada Pension Plan Investment Board now owns 8,066 shares of the company’s stock worth $941,000 after buying an additional 100 shares in the last quarter. Hedge funds and other institutional investors own 80.13% of the company’s stock.
The Travelers Cos. (NYSE:TRV) traded up 0.02% during mid-day trading on Friday, hitting $115.08. 1,350,619 shares of the stock were exchanged. The firm has a 50-day moving average price of $115.58 and a 200-day moving average price of $115.07. The stock has a market capitalization of $33.18 billion, a P/E ratio of 11.08 and a beta of 1.14. The Travelers Cos. has a 12-month low of $101.23 and a 12-month high of $119.32.
The Travelers Cos. (NYSE:TRV) last released its quarterly earnings results on Thursday, July 21st. The company reported $2.24 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $2.19 by $0.05. The Travelers Cos. had a return on equity of 13.06% and a net margin of 11.70%. The business earned $6.79 billion during the quarter, compared to analysts’ expectations of $6.37 billion. The firm’s revenue for the quarter was up 2.3% compared to the same quarter last year. During the same period in the previous year, the business posted $2.52 earnings per share. Equities analysts predict that The Travelers Cos. will post $9.54 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, September 30th. Shareholders of record on Friday, September 9th were issued a dividend of $0.67 per share. The ex-dividend date of this dividend was Wednesday, September 7th. This represents a $2.68 annualized dividend and a yield of 2.33%. The Travelers Cos.’s dividend payout ratio is currently 25.92%.
A number of equities analysts recently issued reports on TRV shares. Citigroup Inc. reiterated a “neutral” rating on shares of The Travelers Cos. in a research report on Tuesday, June 21st. Bank of America Corp. upgraded shares of The Travelers Cos. from a “neutral” rating to a “buy” rating and set a $127.00 price objective for the company in a research report on Tuesday, June 28th. They noted that the move was a valuation call. Zacks Investment Research lowered shares of The Travelers Cos. from a “hold” rating to a “sell” rating in a research report on Wednesday, June 29th. BMO Capital Markets restated a “market perform” rating and set a $120.00 price objective (up previously from $117.00) on shares of The Travelers Cos. in a research report on Tuesday, July 12th. Finally, Royal Bank Of Canada raised their price objective on shares of The Travelers Cos. from $120.00 to $125.00 and gave the company an “outperform” rating in a research report on Friday, July 22nd. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and four have given a buy rating to the stock. The Travelers Cos. has a consensus rating of “Hold” and an average target price of $117.00.
In other The Travelers Cos. news, COO Brian W. Maclean sold 38,507 shares of the business’s stock in a transaction dated Friday, July 29th. The stock was sold at an average price of $116.85, for a total transaction of $4,499,542.95. Following the completion of the sale, the chief operating officer now directly owns 145,001 shares of the company’s stock, valued at approximately $16,943,366.85. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Philip T. Ruegger III acquired 1,700 shares of the company’s stock in a transaction on Wednesday, August 10th. The shares were purchased at an average cost of $117.95 per share, with a total value of $200,515.00. Following the completion of the acquisition, the director now directly owns 20,126 shares in the company, valued at approximately $2,373,861.70. The disclosure for this purchase can be found here. Company insiders own 1.34% of the company’s stock.
The Travelers Cos. Company Profile
The Travelers Companies, Inc is a holding company. The Company, through its subsidiaries, is engaged in providing a range of commercial and personal property and casualty insurance products and services to businesses, government units, associations and individuals. It operates through three segments: Business and International Insurance; Bond & Specialty Insurance, and Personal Insurance.