Cornercap Investment Counsel Inc. reduced its holdings in The Travelers Companies, Inc. (NYSE:TRV - Free Report) by 23.9% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 7,246 shares of the insurance provider's stock after selling 2,277 shares during the period. Cornercap Investment Counsel Inc.'s holdings in Travelers Companies were worth $1,696,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also bought and sold shares of the company. JPMorgan Chase & Co. raised its position in Travelers Companies by 36.8% in the first quarter. JPMorgan Chase & Co. now owns 11,743,236 shares of the insurance provider's stock worth $2,702,588,000 after purchasing an additional 3,158,979 shares in the last quarter. Dimensional Fund Advisors LP grew its position in Travelers Companies by 5.8% in the second quarter. Dimensional Fund Advisors LP now owns 3,044,839 shares of the insurance provider's stock valued at $619,241,000 after acquiring an additional 165,708 shares during the period. Legal & General Group Plc lifted its holdings in shares of Travelers Companies by 1.6% during the second quarter. Legal & General Group Plc now owns 2,334,882 shares of the insurance provider's stock valued at $474,774,000 after acquiring an additional 37,029 shares during the period. Boston Partners grew its holdings in shares of Travelers Companies by 16.4% in the 1st quarter. Boston Partners now owns 1,388,019 shares of the insurance provider's stock worth $319,348,000 after purchasing an additional 196,011 shares during the last quarter. Finally, AQR Capital Management LLC lifted its holdings in Travelers Companies by 8.0% during the 2nd quarter. AQR Capital Management LLC now owns 1,150,213 shares of the insurance provider's stock valued at $233,769,000 after purchasing an additional 85,619 shares during the last quarter. Institutional investors own 82.45% of the company's stock.
Analysts Set New Price Targets
TRV has been the subject of a number of research reports. The Goldman Sachs Group lifted their price target on Travelers Companies from $216.00 to $245.00 and gave the company a "sell" rating in a report on Tuesday, October 22nd. Bank of America raised their price target on shares of Travelers Companies from $241.00 to $265.00 and gave the company an "underperform" rating in a report on Thursday, October 17th. BMO Capital Markets increased their price objective on Travelers Companies from $233.00 to $270.00 and gave the company an "outperform" rating in a research report on Tuesday, October 22nd. Wells Fargo & Company boosted their target price on Travelers Companies from $207.00 to $256.00 and gave the stock an "equal weight" rating in a research report on Monday, October 21st. Finally, Barclays raised their target price on shares of Travelers Companies from $286.00 to $295.00 and gave the company an "overweight" rating in a research note on Wednesday, October 23rd. Four equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Travelers Companies presently has a consensus rating of "Hold" and an average price target of $247.90.
Read Our Latest Stock Analysis on Travelers Companies
Insider Activity
In other Travelers Companies news, Vice Chairman William H. Heyman sold 3,000 shares of the business's stock in a transaction that occurred on Tuesday, October 22nd. The shares were sold at an average price of $260.55, for a total transaction of $781,650.00. Following the completion of the transaction, the insider now directly owns 250,384 shares in the company, valued at $65,237,551.20. The trade was a 1.18 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Alan D. Schnitzer sold 40,524 shares of Travelers Companies stock in a transaction on Monday, October 21st. The shares were sold at an average price of $260.12, for a total value of $10,541,102.88. Following the completion of the transaction, the chief executive officer now owns 221,924 shares in the company, valued at approximately $57,726,870.88. The trade was a 15.44 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 63,999 shares of company stock worth $16,580,166. Corporate insiders own 1.33% of the company's stock.
Travelers Companies Stock Performance
NYSE:TRV traded up $4.30 during mid-day trading on Friday, hitting $260.82. 1,299,781 shares of the stock were exchanged, compared to its average volume of 1,304,430. The firm's 50-day simple moving average is $243.91 and its 200 day simple moving average is $223.99. The stock has a market capitalization of $59.21 billion, a price-to-earnings ratio of 13.27, a price-to-earnings-growth ratio of 1.23 and a beta of 0.62. The Travelers Companies, Inc. has a fifty-two week low of $169.18 and a fifty-two week high of $269.55. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.34 and a current ratio of 0.34.
Travelers Companies (NYSE:TRV - Get Free Report) last announced its earnings results on Thursday, October 17th. The insurance provider reported $5.24 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.79 by $1.45. Travelers Companies had a net margin of 10.02% and a return on equity of 17.69%. The company had revenue of $11.90 billion during the quarter, compared to analysts' expectations of $11.46 billion. During the same quarter in the previous year, the business posted $1.95 earnings per share. Travelers Companies's quarterly revenue was up 11.9% on a year-over-year basis. As a group, equities analysts anticipate that The Travelers Companies, Inc. will post 18.64 EPS for the current fiscal year.
Travelers Companies Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Tuesday, December 10th will be issued a dividend of $1.05 per share. The ex-dividend date is Tuesday, December 10th. This represents a $4.20 annualized dividend and a dividend yield of 1.61%. Travelers Companies's dividend payout ratio is presently 21.54%.
About Travelers Companies
(
Free Report)
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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