Formidable Asset Management LLC purchased a new position in The Travelers Companies, Inc. (NYSE:TRV) during the first quarter, HoldingsChannel reports. The firm purchased 1,682 shares of the insurance provider’s stock, valued at approximately $256,000.
Other institutional investors and hedge funds also recently bought and sold shares of the company. Mcmillion Capital Management Inc. bought a new position in The Travelers Companies during the 4th quarter valued at about $29,000. Ellevest Inc. bought a new position in shares of The Travelers Companies in the 1st quarter worth approximately $29,000. Regent Peak Wealth Advisors LLC purchased a new stake in The Travelers Companies in the 4th quarter worth approximately $30,000. Hoese & Co LLP purchased a new stake in The Travelers Companies in the 1st quarter worth approximately $30,000. Finally, Dividend Assets Capital LLC purchased a new stake in The Travelers Companies in the 1st quarter worth approximately $33,000. Institutional investors and hedge funds own 82.42% of the company’s stock.
Shares of NYSE:TRV traded down $0.34 during midday trading on Wednesday, reaching $154.28. The company’s stock had a trading volume of 4,061 shares, compared to its average volume of 1,325,545. The company’s 50 day moving average is $156.75. The Travelers Companies, Inc. has a 1 year low of $105.67 and a 1 year high of $162.71. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.37 and a current ratio of 0.37. The firm has a market cap of $38.80 billion, a price-to-earnings ratio of 14.01, a price-to-earnings-growth ratio of 2.21 and a beta of 0.74.
The Travelers Companies (NYSE:TRV) last issued its quarterly earnings data on Monday, April 19th. The insurance provider reported $2.73 EPS for the quarter, topping the Zacks’ consensus estimate of $2.37 by $0.36. The company had revenue of $7.39 billion for the quarter, compared to analysts’ expectations of $7.45 billion. The Travelers Companies had a return on equity of 9.65% and a net margin of 8.74%. The firm’s quarterly revenue was up 2.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.62 earnings per share. Analysts expect that The Travelers Companies, Inc. will post 11.22 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 30th. Shareholders of record on Thursday, June 10th will be given a $0.88 dividend. This represents a $3.52 dividend on an annualized basis and a yield of 2.28%. This is an increase from The Travelers Companies’s previous quarterly dividend of $0.85. The ex-dividend date of this dividend is Wednesday, June 9th. The Travelers Companies’s dividend payout ratio is 33.59%.
The Travelers Companies announced that its board has authorized a stock buyback program on Tuesday, April 20th that permits the company to buyback $5.00 billion in shares. This buyback authorization permits the insurance provider to reacquire up to 12.8% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s management believes its stock is undervalued.
A number of brokerages have issued reports on TRV. Royal Bank of Canada increased their price objective on shares of The Travelers Companies from $156.00 to $163.00 and gave the company a “sector perform” rating in a report on Wednesday, April 21st. Credit Suisse Group increased their target price on The Travelers Companies from $142.00 to $153.00 and gave the company a “neutral” rating in a research report on Thursday, April 1st. Citigroup increased their target price on The Travelers Companies from $142.00 to $155.00 in a research report on Wednesday, March 31st. Zacks Investment Research upgraded The Travelers Companies from a “sell” rating to a “hold” rating and set a $165.00 target price for the company in a research report on Thursday, April 22nd. Finally, Barclays increased their target price on The Travelers Companies from $155.00 to $165.00 and gave the company an “overweight” rating in a research report on Wednesday, March 24th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and four have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $153.25.
In other The Travelers Companies news, EVP Michael Frederick Klein sold 10,000 shares of the stock in a transaction on Thursday, May 13th. The shares were sold at an average price of $156.41, for a total transaction of $1,564,100.00. Following the transaction, the executive vice president now directly owns 14,275 shares of the company’s stock, valued at $2,232,752.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Vice Chairman William H. Heyman sold 1,500 shares of the stock in a transaction on Tuesday, May 4th. The stock was sold at an average price of $158.50, for a total transaction of $237,750.00. Following the transaction, the insider now directly owns 246,761 shares in the company, valued at $39,111,618.50. The disclosure for this sale can be found here. Insiders sold 135,338 shares of company stock valued at $21,189,424 over the last 90 days. 0.92% of the stock is currently owned by insiders.
About The 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. The company operates through three segments: Business Insurance, Bond & Specialty Insurance, and Personal Insurance.
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