Norinchukin Bank The lessened its stake in shares of The Travelers Companies, Inc. (NYSE:TRV) by 7.9% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 29,540 shares of the insurance provider’s stock after selling 2,526 shares during the period. Norinchukin Bank The’s holdings in The Travelers Companies were worth $4,443,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently bought and sold shares of TRV. Mcmillion Capital Management Inc. acquired a new stake in The Travelers Companies during the 4th quarter worth about $29,000. Ellevest Inc. acquired a new position in shares of The Travelers Companies in the 1st quarter valued at about $29,000. Regent Peak Wealth Advisors LLC acquired a new position in shares of The Travelers Companies in the 4th quarter valued at about $30,000. Hoese & Co LLP acquired a new position in shares of The Travelers Companies in the 1st quarter valued at about $30,000. Finally, Dividend Assets Capital LLC acquired a new position in shares of The Travelers Companies in the 1st quarter valued at about $33,000. Hedge funds and other institutional investors own 82.42% of the company’s stock.
TRV opened at $154.02 on Friday. The Travelers Companies, Inc. has a 1-year low of $105.67 and a 1-year high of $162.71. The company has a quick ratio of 0.37, a current ratio of 0.37 and a debt-to-equity ratio of 0.23. The company has a market capitalization of $38.73 billion, a PE ratio of 13.95, a price-to-earnings-growth ratio of 2.27 and a beta of 0.74. The company has a 50 day simple moving average of $156.59.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 30th. Stockholders of record on Thursday, June 10th will be given a $0.88 dividend. This represents a $3.52 annualized dividend and a dividend yield of 2.29%. This is a boost from The Travelers Companies’s previous quarterly dividend of $0.85. The ex-dividend date is Wednesday, June 9th. The Travelers Companies’s dividend payout ratio is currently 32.44%.
The Travelers Companies declared that its Board of Directors has approved a share repurchase plan on Tuesday, April 20th that permits the company to repurchase $5.00 billion in shares. This repurchase authorization permits the insurance provider to purchase up to 12.8% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s management believes its stock is undervalued.
A number of equities analysts have recently weighed in on TRV shares. Royal Bank of Canada upped their target price on The Travelers Companies from $156.00 to $163.00 and gave the company a “sector perform” rating in a report on Wednesday, April 21st. MKM Partners boosted their price target on The Travelers Companies from $175.00 to $185.00 and gave the company a “buy” rating in a research note on Friday, March 12th. Zacks Investment Research raised The Travelers Companies from a “sell” rating to a “hold” rating and set a $165.00 price target for the company in a research note on Thursday, April 22nd. Morgan Stanley boosted their price target on The Travelers Companies from $154.00 to $166.00 and gave the company an “underweight” rating in a research note on Wednesday, April 28th. Finally, Citigroup boosted their price target on The Travelers Companies from $142.00 to $155.00 in a research note on Wednesday, March 31st. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $153.25.
In related news, Vice Chairman William H. Heyman sold 1,000 shares of the company’s stock in a transaction on Friday, May 7th. The stock was sold at an average price of $161.00, for a total value of $161,000.00. Following the completion of the transaction, the insider now directly owns 250,261 shares in the company, valued at $40,292,021. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Alan D. Schnitzer sold 60,979 shares of the company’s stock in a transaction on Thursday, April 22nd. The shares were sold at an average price of $155.00, for a total value of $9,451,745.00. Following the completion of the transaction, the chief executive officer now owns 238,213 shares of the company’s stock, valued at $36,923,015. 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 three months. 0.92% of the stock is owned by company insiders.
The Travelers Companies Profile
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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