First Citizens Bank & Trust Co. lowered its stake in shares of The Travelers Cos. (NYSE:TRV) by 24.3% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 101,764 shares of the company’s stock after selling 32,712 shares during the period. The Travelers Cos. comprises about 1.1% of First Citizens Bank & Trust Co.’s holdings, making the stock its 17th largest position. First Citizens Bank & Trust Co.’s holdings in The Travelers Cos. were worth $12,114,000 as of its most recent SEC filing.
Other hedge funds have also recently added to or reduced their stakes in the company. Ledyard National Bank raised its stake in The Travelers Cos. by 5.4% in the second quarter. Ledyard National Bank now owns 1,089 shares of the company’s stock valued at $130,000 after buying an additional 56 shares during the last quarter. Kanaly Trust Co raised its stake in The Travelers Cos. by 1.4% in the second quarter. Kanaly Trust Co now owns 1,426 shares of the company’s stock valued at $170,000 after buying an additional 19 shares during the last quarter. Clean Yield Group raised its stake in The Travelers Cos. by 5.1% in the second quarter. Clean Yield Group now owns 1,535 shares of the company’s stock valued at $183,000 after buying an additional 75 shares during the last quarter. Kistler Tiffany Companies LLC raised its stake in The Travelers Cos. by 53.8% in the second quarter. Kistler Tiffany Companies LLC now owns 1,543 shares of the company’s stock valued at $184,000 after buying an additional 540 shares during the last quarter. Finally, Daiwa SB Investments Ltd. raised its stake in The Travelers Cos. by 8.2% in the second quarter. Daiwa SB Investments Ltd. now owns 1,720 shares of the company’s stock valued at $201,000 after buying an additional 130 shares during the last quarter. 80.13% of the stock is currently owned by hedge funds and other institutional investors.
The Travelers Cos. (NYSE:TRV) traded up 1.32% on Friday, reaching $114.67. 1,302,049 shares of the company traded hands. The Travelers Cos. has a 12 month low of $101.23 and a 12 month high of $119.32. The company has a 50-day moving average price of $115.93 and a 200-day moving average price of $115.10. The company has a market capitalization of $33.06 billion, a P/E ratio of 11.04 and a beta of 1.14.
The Travelers Cos. (NYSE:TRV) last posted its quarterly earnings results on Thursday, July 21st. The company reported $2.24 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.19 by $0.05. The Travelers Cos. had a net margin of 11.70% and a return on equity of 13.06%. The business earned $6.79 billion during the quarter, compared to analyst estimates of $6.37 billion. During the same period in the previous year, the business posted $2.52 EPS. The company’s quarterly revenue was up 2.3% on a year-over-year basis. Equities research analysts expect that The Travelers Cos. will post $9.54 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Friday, September 30th. Stockholders of record on Friday, September 9th were issued a $0.67 dividend. This represents a $2.68 annualized dividend and a dividend yield of 2.37%. The ex-dividend date was Wednesday, September 7th. The Travelers Cos.’s dividend payout ratio (DPR) is presently 25.92%.
Several research firms have recently commented on TRV. Citigroup Inc. reaffirmed a “neutral” rating on shares of The Travelers Cos. in a research report on Tuesday, June 21st. Royal Bank Of Canada lifted their price target on shares of The Travelers Cos. from $120.00 to $125.00 and gave the company an “outperform” rating in a research report 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 research report on Tuesday, July 12th. Credit Suisse Group AG set a $111.00 target price on The Travelers Cos. and gave the company a “hold” rating in a research report on Monday, September 12th. Finally, Zacks Investment Research lowered The Travelers Cos. from a “hold” rating to a “sell” rating in a research report on Wednesday, June 29th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and four have issued a buy rating to the company. The Travelers Cos. presently has an average rating of “Hold” and a consensus target price of $116.75.
In other news, Vice Chairman William H. Heyman sold 4,246 shares of The Travelers Cos. stock in a transaction dated Wednesday, August 31st. The shares were sold at an average price of $118.98, for a total value of $505,189.08. Following the completion of the transaction, the insider now directly owns 231,500 shares of the company’s stock, valued at approximately $27,543,870. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Jay S. Benet sold 5,797 shares of The Travelers Cos. stock in a transaction dated Monday, July 11th. The shares were sold at an average price of $118.12, for a total transaction of $684,741.64. Following the completion of the transaction, the chief financial officer now directly owns 71,352 shares of the company’s stock, valued at $8,428,098.24. The disclosure for this sale can be found here. 1.34% of the stock is currently owned by 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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