First Business Financial Services Inc. cut its position in The Travelers Cos. (NYSE:TRV) by 10.8% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 3,535 shares of the company’s stock after selling 429 shares during the period. First Business Financial Services Inc.’s holdings in The Travelers Cos. were worth $421,000 as of its most recent SEC filing.
Other institutional investors have also recently bought and sold shares of the company. Ledyard National Bank increased its position in shares of The Travelers Cos. by 5.4% in the second quarter. Ledyard National Bank now owns 1,089 shares of the company’s stock worth $130,000 after buying an additional 56 shares during the last quarter. Kanaly Trust Co increased its position in shares of The Travelers Cos. by 1.4% in the second quarter. Kanaly Trust Co now owns 1,426 shares of the company’s stock worth $170,000 after buying an additional 19 shares during the last quarter. Clean Yield Group increased its position in shares of The Travelers Cos. by 5.1% in the second quarter. Clean Yield Group now owns 1,535 shares of the company’s stock worth $183,000 after buying an additional 75 shares during the last quarter. Kistler Tiffany Companies LLC increased its position in shares of The Travelers Cos. by 53.8% in the second quarter. Kistler Tiffany Companies LLC now owns 1,543 shares of the company’s stock worth $184,000 after buying an additional 540 shares during the last quarter. Finally, Daiwa SB Investments Ltd. increased its position in shares of The Travelers Cos. by 8.2% in the second quarter. Daiwa SB Investments Ltd. now owns 1,720 shares of the company’s stock worth $201,000 after buying an additional 130 shares during the last quarter. Institutional investors and hedge funds own 80.13% of the company’s stock.
The Travelers Cos. (NYSE:TRV) traded down 0.14% on Thursday, reaching $112.94. 758,648 shares of the company’s stock traded hands. The firm’s 50 day moving average price is $116.05 and its 200 day moving average price is $115.11. The firm has a market capitalization of $32.56 billion, a PE ratio of 10.87 and a beta of 1.14. The Travelers Cos. has a 52-week low of $101.23 and a 52-week high of $119.32.
The Travelers Cos. (NYSE:TRV) last posted its earnings results on Thursday, July 21st. The company reported $2.24 earnings per share for the quarter, beating the Zacks’ consensus estimate of $2.19 by $0.05. The business had revenue of $6.79 billion for the quarter, compared to analysts’ expectations of $6.37 billion. The Travelers Cos. had a net margin of 11.70% and a return on equity of 13.06%. The firm’s revenue for the quarter was up 2.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.52 earnings per share. On average, analysts predict that The Travelers Cos. will post $9.51 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Friday, September 30th. Investors of record on Friday, September 9th were paid a $0.67 dividend. The ex-dividend date of this dividend was Wednesday, September 7th. This represents a $2.68 dividend on an annualized basis and a yield of 2.37%. The Travelers Cos.’s payout ratio is currently 25.92%.
A number of brokerages have commented on TRV. Citigroup Inc. restated a “neutral” rating on shares of The Travelers Cos. in a research note on Tuesday, June 21st. Royal Bank Of Canada lifted their target price on The Travelers Cos. from $120.00 to $125.00 and gave the company an “outperform” rating in a research note on Friday, July 22nd. BMO Capital Markets reaffirmed a “market perform” rating and set a $120.00 price target (up previously from $117.00) on shares of The Travelers Cos. in a report on Tuesday, July 12th. Credit Suisse Group AG set a $111.00 price target on The Travelers Cos. and gave the company a “hold” rating in a report on Monday, September 12th. Finally, Zacks Investment Research cut The Travelers Cos. from a “hold” rating to a “sell” rating in a report on Wednesday, June 29th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and four have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $116.75.
In other The Travelers Cos. news, Vice Chairman William H. Heyman sold 4,246 shares of the company’s stock in a transaction dated Wednesday, August 31st. The shares were sold at an average price of $118.98, for a total transaction of $505,189.08. Following the sale, the insider now directly owns 231,500 shares of the company’s stock, valued at $27,543,870. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Vice Chairman Jay S. Benet sold 5,797 shares of the company’s stock in a transaction dated Monday, July 25th. The stock was sold at an average price of $116.64, for a total transaction of $676,162.08. Following the sale, the insider now directly owns 71,352 shares in the company, valued at $8,322,497.28. The disclosure for this sale can be found here. 1.34% of the stock is currently owned by corporate insiders.
About The Travelers Cos.
The Travelers Companies, Inc is a holding company. The Company, through its subsidiaries, is engaged in providing a range of commercial and personal property and casualty insurance products and services to businesses, government units, associations and individuals. It operates through three segments: Business and International Insurance; Bond & Specialty Insurance, and Personal Insurance.
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