Lincoln National Corp cut its holdings in shares of The Travelers Companies, Inc. (NYSE:TRV – Free Report) by 8.5% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 4,854 shares of the insurance provider’s stock after selling 449 shares during the period. Lincoln National Corp’s holdings in Travelers Companies were worth $832,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds also recently added to or reduced their stakes in the business. FWL Investment Management LLC acquired a new position in shares of Travelers Companies in the 4th quarter valued at about $28,000. US Asset Management LLC purchased a new stake in Travelers Companies in the 4th quarter worth approximately $29,000. FNY Investment Advisers LLC acquired a new stake in shares of Travelers Companies during the 1st quarter worth approximately $31,000. Glass Jacobson Investment Advisors llc purchased a new position in shares of Travelers Companies during the 4th quarter valued at approximately $38,000. Finally, Motco lifted its stake in shares of Travelers Companies by 75.4% in the 4th quarter. Motco now owns 214 shares of the insurance provider’s stock valued at $40,000 after purchasing an additional 92 shares during the period. 81.06% of the stock is owned by hedge funds and other institutional investors.
Travelers Companies Stock Performance
Travelers Companies stock opened at $172.82 on Monday. The firm has a 50 day simple moving average of $174.17 and a 200-day simple moving average of $178.17. The stock has a market cap of $39.57 billion, a price-to-earnings ratio of 18.40, a price-to-earnings-growth ratio of 1.29 and a beta of 0.60. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.33 and a quick ratio of 0.33. The Travelers Companies, Inc. has a 1-year low of $149.65 and a 1-year high of $194.51.
Travelers Companies announced that its Board of Directors has initiated a stock buyback program on Wednesday, April 19th that allows the company to buyback $5.00 billion in outstanding shares. This buyback authorization allows the insurance provider to buy up to 12.2% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s board believes its shares are undervalued.
Travelers Companies Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Friday, September 8th will be given a $1.00 dividend. The ex-dividend date is Thursday, September 7th. This represents a $4.00 dividend on an annualized basis and a yield of 2.31%. Travelers Companies’s payout ratio is currently 42.60%.
Insiders Place Their Bets
In other news, EVP Andy F. Bessette sold 11,572 shares of the business’s stock in a transaction that occurred on Tuesday, April 25th. The shares were sold at an average price of $178.14, for a total value of $2,061,436.08. Following the sale, the executive vice president now directly owns 17,361 shares of the company’s stock, valued at approximately $3,092,688.54. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Travelers Companies news, EVP Andy F. Bessette sold 11,572 shares of the business’s stock in a transaction that occurred on Tuesday, April 25th. The stock was sold at an average price of $178.14, for a total value of $2,061,436.08. Following the sale, the executive vice president now owns 17,361 shares of the company’s stock, valued at $3,092,688.54. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Michael Frederick Klein sold 10,246 shares of the firm’s stock in a transaction on Wednesday, May 10th. The stock was sold at an average price of $182.85, for a total value of $1,873,481.10. Following the transaction, the executive vice president now owns 14,080 shares of the company’s stock, valued at $2,574,528. The disclosure for this sale can be found here. 1.29% of the stock is currently owned by insiders.
Wall Street Analyst Weigh In
A number of research firms have weighed in on TRV. Jefferies Financial Group cut their price objective on shares of Travelers Companies from $188.00 to $182.00 and set a “hold” rating for the company in a report on Monday, April 10th. Morgan Stanley reaffirmed an “equal weight” rating and issued a $185.00 price target on shares of Travelers Companies in a report on Friday. Royal Bank of Canada raised their price objective on Travelers Companies from C$183.00 to C$185.00 in a report on Thursday. Wells Fargo & Company upped their target price on Travelers Companies from $183.00 to $185.00 in a research note on Thursday. Finally, StockNews.com cut shares of Travelers Companies from a “buy” rating to a “hold” rating in a research note on Monday, June 19th. Nine research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $193.77.
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. It operates through three segments: Business Insurance, Bond & Specialty Insurance, and Personal Insurance.
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