Geneos Wealth Management Inc. reduced its holdings in The Travelers Companies, Inc. (NYSE:TRV – Free Report) by 9.6% in the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 2,527 shares of the insurance provider’s stock after selling 268 shares during the quarter. Geneos Wealth Management Inc.’s holdings in Travelers Companies were worth $433,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in TRV. Norges Bank bought a new stake in shares of Travelers Companies in the 4th quarter valued at $239,875,000. Price T Rowe Associates Inc. MD boosted its stake in shares of Travelers Companies by 11.9% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 7,820,386 shares of the insurance provider’s stock valued at $1,466,244,000 after purchasing an additional 829,918 shares during the last quarter. Prostatis Group LLC bought a new stake in shares of Travelers Companies in the 4th quarter valued at $839,000. Junto Capital Management LP bought a new stake in shares of Travelers Companies in the 4th quarter valued at $108,956,000. Finally, Morgan Stanley boosted its stake in shares of Travelers Companies by 19.6% in the 4th quarter. Morgan Stanley now owns 3,284,693 shares of the insurance provider’s stock valued at $615,847,000 after purchasing an additional 539,294 shares during the last quarter. 81.06% of the stock is currently owned by institutional investors and hedge funds.
Analysts Set New Price Targets
A number of equities research analysts have recently commented on the stock. Roth Capital reaffirmed a “buy” rating on shares of Travelers Companies in a research note on Friday, April 21st. JPMorgan Chase & Co. increased their target price on shares of Travelers Companies from $185.00 to $194.00 in a research note on Thursday, July 6th. Jefferies Financial Group cut their target price on shares of Travelers Companies from $188.00 to $182.00 and set a “hold” rating on the stock in a research note on Monday, April 10th. StockNews.com lowered shares of Travelers Companies from a “buy” rating to a “hold” rating in a research note on Monday, June 19th. Finally, Citigroup increased their target price on shares of Travelers Companies from $182.00 to $186.00 and gave the stock a “neutral” rating in a research note on Friday, April 21st. Nine equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Travelers Companies presently has a consensus rating of “Hold” and a consensus target price of $194.31.
Travelers Companies Stock Performance
Travelers Companies (NYSE:TRV – Get Free Report) last announced its earnings results on Wednesday, April 19th. The insurance provider reported $4.11 EPS for the quarter, beating the consensus estimate of $3.64 by $0.47. The company had revenue of $9.70 billion during the quarter, compared to the consensus estimate of $8.98 billion. Travelers Companies had a net margin of 7.41% and a return on equity of 13.41%. The firm’s revenue for the quarter was up 10.2% on a year-over-year basis. During the same quarter in the prior year, the company posted $4.22 earnings per share. Equities research analysts forecast that The Travelers Companies, Inc. will post 14.1 EPS for the current fiscal year.
Travelers Companies Increases Dividend
The company also recently announced a quarterly dividend, which was paid on Friday, June 30th. Stockholders of record on Friday, June 9th were issued a $1.00 dividend. The ex-dividend date of this dividend was Thursday, June 8th. This represents a $4.00 annualized dividend and a dividend yield of 2.34%. This is an increase from Travelers Companies’s previous quarterly dividend of $0.93. Travelers Companies’s dividend payout ratio is currently 34.10%.
Travelers Companies declared that its board has authorized a stock repurchase program on Wednesday, April 19th that allows the company to repurchase $5.00 billion in shares. This repurchase authorization allows the insurance provider to buy up to 12.2% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s leadership believes its shares are undervalued.
Insider Activity
In other news, CFO Daniel S. Frey sold 37,316 shares of the stock in a transaction dated Friday, April 21st. The shares were sold at an average price of $179.08, for a total value of $6,682,549.28. Following the completion of the sale, the chief financial officer now owns 11,703 shares in the company, valued at $2,095,773.24. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, CFO Daniel S. Frey sold 37,316 shares of the firm’s stock in a transaction dated Friday, April 21st. The shares were sold at an average price of $179.08, for a total transaction of $6,682,549.28. Following the completion of the sale, the chief financial officer now owns 11,703 shares in the company, valued at $2,095,773.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Andy F. Bessette sold 11,572 shares of the firm’s stock in a transaction dated Tuesday, April 25th. The stock was sold at an average price of $178.14, for a total transaction of $2,061,436.08. Following the sale, the executive vice president now owns 17,361 shares of the company’s stock, valued at approximately $3,092,688.54. The disclosure for this sale can be found here. Insiders sold a total of 59,134 shares of company stock worth $10,617,466 over the last quarter. Insiders own 1.29% of the company’s stock.
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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