Tocqueville Asset Management L.P. lowered its position in shares of Travelers Companies Inc (NYSE:TRV) by 11.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 27,762 shares of the insurance provider’s stock after selling 3,739 shares during the period. Tocqueville Asset Management L.P.’s holdings in Travelers Companies were worth $3,766,000 at the end of the most recent reporting period.
Other hedge funds have also recently modified their holdings of the company. Point72 Asset Management L.P. bought a new stake in Travelers Companies during the third quarter worth about $8,254,000. Abner Herrman & Brock LLC lifted its stake in Travelers Companies by 6.5% during the fourth quarter. Abner Herrman & Brock LLC now owns 62,879 shares of the insurance provider’s stock worth $8,529,000 after purchasing an additional 3,853 shares during the last quarter. Vaughan David Investments Inc. IL lifted its stake in Travelers Companies by 1,454.3% during the third quarter. Vaughan David Investments Inc. IL now owns 219,728 shares of the insurance provider’s stock worth $26,387,000 after purchasing an additional 205,591 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its holdings in shares of Travelers Companies by 8.1% in the third quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 22,442 shares of the insurance provider’s stock worth $2,750,000 after buying an additional 1,683 shares during the period. Finally, Valeo Financial Advisors LLC increased its holdings in shares of Travelers Companies by 138.2% in the fourth quarter. Valeo Financial Advisors LLC now owns 2,091 shares of the insurance provider’s stock worth $284,000 after buying an additional 1,213 shares during the period. 79.42% of the stock is owned by hedge funds and other institutional investors.
In related news, COO Brian W. Maclean sold 88,607 shares of the business’s stock in a transaction dated Friday, January 26th. The stock was sold at an average price of $149.29, for a total transaction of $13,228,139.03. Following the transaction, the chief operating officer now owns 211,293 shares in the company, valued at approximately $31,543,931.97. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Vice Chairman Jay S. Benet sold 4,437 shares of the business’s stock in a transaction dated Wednesday, March 7th. The shares were sold at an average price of $140.13, for a total value of $621,756.81. Following the transaction, the insider now owns 89,737 shares in the company, valued at approximately $12,574,845.81. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 182,727 shares of company stock worth $26,828,165. 0.82% of the stock is owned by company insiders.
Travelers Companies (NYSE:TRV) last announced its quarterly earnings results on Tuesday, January 23rd. The insurance provider reported $2.28 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.56 by ($0.28). Travelers Companies had a net margin of 7.13% and a return on equity of 8.61%. The business had revenue of $7.45 billion for the quarter, compared to analysts’ expectations of $6.47 billion. During the same quarter in the prior year, the firm earned $3.20 EPS. The firm’s revenue for the quarter was up 3.6% on a year-over-year basis. equities analysts forecast that Travelers Companies Inc will post 10.59 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, March 30th. Investors of record on Friday, March 9th will be issued 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 2.02%. Travelers Companies’s dividend payout ratio is presently 39.40%.
Several research analysts have recently commented on TRV shares. Bank of America upgraded Travelers Companies from a “neutral” rating to a “buy” rating in a report on Tuesday, January 9th. Wells Fargo & Co reiterated a “market perform” rating and issued a $142.00 price objective on shares of Travelers Companies in a report on Tuesday, January 23rd. Atlantic Securities upgraded Travelers Companies from an “underweight” rating to a “neutral” rating and set a $110.00 price objective on the stock in a report on Friday, January 26th. Credit Suisse Group lifted their price objective on Travelers Companies from $141.00 to $144.00 and gave the stock a “neutral” rating in a report on Wednesday, January 24th. Finally, Zacks Investment Research upgraded Travelers Companies from a “hold” rating to a “buy” rating and set a $148.00 price objective on the stock in a report on Friday, January 5th. Three investment analysts have rated the stock with a sell rating, eight have given a hold rating and eight have assigned a buy rating to the company. Travelers Companies presently has an average rating of “Hold” and an average target price of $137.20.
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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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