Forsta AP Fonden reduced its stake in Travelers Companies Inc (NYSE:TRV) by 19.2% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 48,321 shares of the insurance provider’s stock after selling 11,500 shares during the quarter. Forsta AP Fonden’s holdings in Travelers Companies were worth $6,554,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors and hedge funds also recently modified their holdings of TRV. Koch Industries Inc. bought a new stake in shares of Travelers Companies in the 2nd quarter worth approximately $279,000. Cetera Investment Advisers boosted its position in shares of Travelers Companies by 7.9% in the 2nd quarter. Cetera Investment Advisers now owns 3,583 shares of the insurance provider’s stock worth $455,000 after purchasing an additional 262 shares in the last quarter. Intl Fcstone Inc. bought a new stake in shares of Travelers Companies in the 2nd quarter worth approximately $2,029,000. Fulton Bank N.A. boosted its position in shares of Travelers Companies by 16.0% in the 3rd quarter. Fulton Bank N.A. now owns 2,933 shares of the insurance provider’s stock worth $359,000 after purchasing an additional 405 shares in the last quarter. Finally, PGGM Investments boosted its position in shares of Travelers Companies by 140.5% in the 3rd quarter. PGGM Investments now owns 444,042 shares of the insurance provider’s stock worth $54,404,000 after purchasing an additional 259,423 shares in the last quarter. 78.59% of the stock is currently owned by hedge funds and other institutional investors.
Several equities analysts recently issued reports on TRV shares. Royal Bank of Canada reaffirmed a “buy” rating and issued a $148.00 price objective on shares of Travelers Companies in a research report on Friday, December 8th. Bank of America raised Travelers Companies from a “neutral” rating to a “buy” rating in a research report on Tuesday, January 9th. Citigroup upped their price objective on Travelers Companies from $143.00 to $151.00 and gave the company a “buy” rating in a research report on Friday, October 20th. Keefe, Bruyette & Woods reaffirmed a “buy” rating and issued a $152.00 price objective on shares of Travelers Companies in a research report on Wednesday, December 6th. Finally, UBS Group upped their price objective on Travelers Companies from $131.00 to $139.00 and gave the company a “neutral” rating in a research report on Wednesday, November 1st. Three equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $136.07.
Travelers Companies (NYSE:TRV) last announced its earnings results on Tuesday, January 23rd. The insurance provider reported $2.28 earnings per share for the quarter, missing analysts’ consensus estimates of $2.56 by ($0.28). The company had revenue of $7.45 billion for the quarter, compared to analysts’ expectations of $6.47 billion. Travelers Companies had a net margin of 7.13% and a return on equity of 8.61%. Travelers Companies’s quarterly revenue was up 3.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $3.20 earnings per share. equities research analysts predict that Travelers Companies Inc will post 10.59 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, March 30th. Shareholders of record on Friday, March 9th will be paid a dividend of $0.72 per share. The ex-dividend date is Thursday, March 8th. This represents a $2.88 dividend on an annualized basis and a yield of 2.05%. Travelers Companies’s dividend payout ratio is presently 39.40%.
Travelers Companies announced that its Board of Directors has authorized a share repurchase plan on Thursday, November 9th that authorizes the company to buyback shares. This buyback authorization authorizes the insurance provider to purchase shares of its stock through open market purchases. Stock buyback plans are often an indication that the company’s management believes its shares are undervalued.
In other Travelers Companies news, EVP Michael Frederick Klein sold 20,077 shares of the business’s stock in a transaction on Tuesday, November 21st. The shares were sold at an average price of $130.68, for a total transaction of $2,623,662.36. Following the completion of the sale, the executive vice president now directly owns 21,619 shares in the company, valued at approximately $2,825,170.92. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, EVP Thomas M. Kunkel sold 9,595 shares of the business’s stock in a transaction on Friday, January 26th. The shares were sold at an average price of $150.09, for a total transaction of $1,440,113.55. Following the sale, the executive vice president now owns 28,956 shares of the company’s stock, valued at $4,346,006.04. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 181,599 shares of company stock valued at $26,221,541. Company insiders own 0.82% of the company’s stock.
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About Travelers Companies
The Travelers Companies, Inc is a holding company. The Company’s segments include Business and International Insurance; Bond & Specialty Insurance, and Personal Insurance. Through its subsidiaries, it provides commercial and personal property and casualty insurance products and services. The Business and International Insurance segment offers property and casualty insurance and insurance related services to its clients, in the United States and in Canada, as well as in the United Kingdom, the Republic of Ireland, Brazil and throughout other parts of the world.
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