Allspring Global Investments Holdings LLC lifted its stake in The Travelers Companies, Inc. (NYSE:TRV – Free Report) by 36.8% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 16,631 shares of the insurance provider’s stock after purchasing an additional 4,474 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Travelers Companies were worth $3,894,000 as of its most recent SEC filing.
A number of other large investors have also recently modified their holdings of the stock. Y.D. More Investments Ltd bought a new stake in shares of Travelers Companies during the 2nd quarter valued at $25,000. Pathway Financial Advisers LLC bought a new stake in Travelers Companies during the first quarter worth about $35,000. Beacon Capital Management LLC grew its holdings in Travelers Companies by 74.2% in the first quarter. Beacon Capital Management LLC now owns 155 shares of the insurance provider’s stock worth $36,000 after purchasing an additional 66 shares during the period. Wolff Wiese Magana LLC increased its stake in shares of Travelers Companies by 39.1% during the third quarter. Wolff Wiese Magana LLC now owns 160 shares of the insurance provider’s stock valued at $37,000 after purchasing an additional 45 shares in the last quarter. Finally, Tributary Capital Management LLC purchased a new position in shares of Travelers Companies during the first quarter valued at approximately $45,000. Institutional investors own 82.45% of the company’s stock.
Insider Transactions at Travelers Companies
In other news, EVP Diane Kurtzman sold 3,941 shares of the company’s stock in a transaction on Monday, October 21st. The stock was sold at an average price of $260.45, for a total value of $1,026,433.45. Following the completion of the sale, the executive vice president now directly owns 1,715 shares in the company, valued at $446,671.75. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. In related news, EVP Diane Kurtzman sold 3,941 shares of the business’s stock in a transaction that occurred on Monday, October 21st. The stock was sold at an average price of $260.45, for a total transaction of $1,026,433.45. Following the completion of the transaction, the executive vice president now directly owns 1,715 shares in the company, valued at approximately $446,671.75. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Vice Chairman William H. Heyman sold 2,014 shares of the firm’s stock in a transaction that occurred on Thursday, October 24th. The stock was sold at an average price of $260.00, for a total transaction of $523,640.00. Following the sale, the insider now owns 250,384 shares in the company, valued at approximately $65,099,840. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 59,479 shares of company stock worth $15,434,526 in the last 90 days. 1.33% of the stock is currently owned by insiders.
Travelers Companies Stock Performance
Travelers Companies (NYSE:TRV – Get Free Report) last released its quarterly 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 return on equity of 17.69% and a net margin of 10.02%. The business had revenue of $11.90 billion during the quarter, compared to the consensus estimate of $11.46 billion. During the same period in the previous year, the company posted $1.95 EPS. The business’s quarterly revenue was up 11.9% compared to the same quarter last year. As a group, sell-side analysts anticipate that The Travelers Companies, Inc. will post 18.53 EPS for the current year.
Travelers Companies Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Tuesday, December 10th will be given a $1.05 dividend. The ex-dividend date is Tuesday, December 10th. This represents a $4.20 annualized dividend and a yield of 1.66%. Travelers Companies’s payout ratio is presently 31.20%.
Wall Street Analyst Weigh In
Several analysts recently weighed in on the company. Citigroup upped their price target on Travelers Companies from $200.00 to $203.00 and gave the stock a “sell” rating in a research note on Tuesday, July 30th. Morgan Stanley cut their target price on Travelers Companies from $220.00 to $210.00 and set an “equal weight” rating on the stock in a research note on Friday, July 19th. Jefferies Financial Group lifted their price target on Travelers Companies from $210.00 to $235.00 and gave the stock a “hold” rating in a research report on Wednesday, October 9th. Royal Bank of Canada upped their price target on shares of Travelers Companies from $250.00 to $273.00 and gave the stock a “sector perform” rating in a research note on Friday, October 18th. Finally, The Goldman Sachs Group raised their price objective on shares of Travelers Companies from $216.00 to $245.00 and gave the company a “sell” rating in a research note on Tuesday, October 22nd. Four analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $247.90.
Read Our Latest Analysis on TRV
About Travelers Companies
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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