First Republic Investment Management Inc. bought a new position in shares of Travelers Companies Inc (NYSE:TRV) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 294,357 shares of the insurance provider’s stock, valued at approximately $36,012,000. First Republic Investment Management Inc. owned about 0.11% of Travelers Companies at the end of the most recent reporting period.
Other institutional investors have also recently added to or reduced their stakes in the company. Squar Milner Financial Services LLC acquired a new position in Travelers Companies during the 2nd quarter worth $100,000. Landaas & Co. WI ADV acquired a new position in Travelers Companies during the 2nd quarter worth $108,000. Acadian Asset Management LLC acquired a new position in Travelers Companies during the 2nd quarter worth $112,000. Institutional & Family Asset Management LLC acquired a new position in Travelers Companies during the 1st quarter worth $133,000. Finally, American National Bank acquired a new position in Travelers Companies during the 2nd quarter worth $117,000. 79.01% of the stock is owned by hedge funds and other institutional investors.
Several research analysts have recently issued reports on the stock. TheStreet upgraded shares of Travelers Companies from a “c+” rating to a “b” rating in a report on Thursday, August 30th. B. Riley boosted their price objective on shares of Travelers Companies from $118.00 to $136.00 and gave the stock a “neutral” rating in a report on Tuesday, August 7th. Credit Suisse Group assumed coverage on shares of Travelers Companies in a report on Tuesday, August 7th. They set a “neutral” rating and a $141.00 price objective on the stock. Citigroup boosted their price objective on shares of Travelers Companies from $144.00 to $149.00 and gave the stock a “buy” rating in a report on Monday, July 30th. Finally, ValuEngine upgraded shares of Travelers Companies from a “sell” rating to a “hold” rating in a report on Saturday, July 28th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and seven have given a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $137.81.
In related news, Vice Chairman Jay S. Benet sold 8,876 shares of the company’s stock in a transaction dated Tuesday, August 21st. The shares were sold at an average price of $132.00, for a total value of $1,171,632.00. Following the sale, the insider now owns 94,176 shares of the company’s stock, valued at $12,431,232. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Andy F. Bessette sold 8,892 shares of the company’s stock in a transaction dated Friday, August 17th. The shares were sold at an average price of $130.78, for a total transaction of $1,162,895.76. Following the completion of the sale, the executive vice president now directly owns 10,551 shares in the company, valued at approximately $1,379,859.78. The disclosure for this sale can be found here. Insiders own 0.80% of the company’s stock.
NYSE:TRV opened at $132.57 on Friday. Travelers Companies Inc has a 52-week low of $113.76 and a 52-week high of $150.55. The company has a current ratio of 0.38, a quick ratio of 0.38 and a debt-to-equity ratio of 0.29. The stock has a market cap of $35.23 billion, a PE ratio of 18.21, a P/E/G ratio of 1.04 and a beta of 1.26.
Travelers Companies (NYSE:TRV) last posted its earnings results on Thursday, July 19th. The insurance provider reported $1.81 earnings per share for the quarter, missing the Zacks’ consensus estimate of $2.43 by ($0.62). The business had revenue of $7.44 billion during 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%. research analysts expect that Travelers Companies Inc will post 9.95 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 28th. Investors of record on Monday, September 10th will be paid 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 2.32%. Travelers Companies’s payout ratio is currently 42.31%.
Travelers Companies Profile
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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