Allspring Global Investments Holdings LLC lowered its position in The Travelers Companies, Inc. (NYSE:TRV – Free Report) by 4.1% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 17,465 shares of the insurance provider’s stock after selling 751 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Travelers Companies were worth $2,994,000 as of its most recent filing with the Securities and Exchange Commission.
Several other large investors also recently made changes to their positions in TRV. FWL Investment Management LLC acquired a new position in shares of Travelers Companies during the fourth quarter valued at approximately $28,000. US Asset Management LLC acquired a new position in shares of Travelers Companies during the fourth quarter valued at approximately $29,000. FNY Investment Advisers LLC acquired a new position in shares of Travelers Companies during the first quarter valued at approximately $31,000. Glass Jacobson Investment Advisors llc acquired a new position in shares of Travelers Companies during the fourth quarter valued at approximately $38,000. Finally, Motco increased its stake in shares of Travelers Companies by 75.4% during the fourth quarter. Motco now owns 214 shares of the insurance provider’s stock valued at $40,000 after acquiring an additional 92 shares during the period. Institutional investors and hedge funds own 81.06% of the company’s stock.
Analysts Set New Price Targets
Several research analysts have issued reports on the stock. Wells Fargo & Company lifted their price target on shares of Travelers Companies from $181.00 to $182.00 and gave the stock an “equal weight” rating in a research report on Wednesday, April 5th. JPMorgan Chase & Co. lifted their price target on shares of Travelers Companies from $185.00 to $194.00 in a research report on Thursday. Barclays lifted their price target on shares of Travelers Companies from $179.00 to $185.00 in a research report on Thursday, April 20th. Roth Capital restated a “buy” rating on shares of Travelers Companies in a research report on Friday, April 21st. Finally, Jefferies Financial Group decreased their price objective on shares of Travelers Companies from $188.00 to $182.00 and set a “hold” rating for the company in a research note on Monday, April 10th. Nine research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $194.31.
Insider Activity at Travelers Companies
Travelers Companies Trading Down 1.0 %
Shares of NYSE:TRV opened at $170.90 on Friday. The firm has a fifty day moving average of $176.64 and a two-hundred day moving average of $179.63. The firm has a market capitalization of $39.47 billion, a P/E ratio of 14.57, a price-to-earnings-growth ratio of 2.43 and a beta of 0.60. The Travelers Companies, Inc. has a 12-month low of $149.65 and a 12-month high of $194.51. The company has a quick ratio of 0.33, a current ratio of 0.33 and a debt-to-equity ratio of 0.32.
Travelers Companies (NYSE:TRV – Free Report) last issued its earnings results on Wednesday, April 19th. The insurance provider reported $4.11 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.64 by $0.47. The company had revenue of $9.70 billion during the quarter, compared to analyst estimates of $8.98 billion. Travelers Companies had a net margin of 7.41% and a return on equity of 13.41%. The company’s revenue for the quarter was up 10.2% on a year-over-year basis. During the same quarter last year, the business posted $4.22 EPS. On average, equities analysts expect that The Travelers Companies, Inc. will post 14.23 EPS for the current fiscal year.
Travelers Companies Increases Dividend
The business also recently announced a quarterly dividend, which was paid on Friday, June 30th. Shareholders of record on Friday, June 9th were paid a dividend of $1.00 per share. The ex-dividend date was Thursday, June 8th. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.34%. This is a positive change from Travelers Companies’s previous quarterly dividend of $0.93. Travelers Companies’s dividend payout ratio (DPR) is 34.10%.
Travelers Companies declared that its Board of Directors has approved a stock repurchase program on Wednesday, April 19th that permits the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization permits the insurance provider to buy up to 12.2% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board of directors believes its stock is undervalued.
Travelers Companies Company 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. It operates through three segments: Business Insurance, Bond & Specialty Insurance, and Personal Insurance.
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