Trust Asset Management LLC Cuts Stake in The Travelers Companies, Inc. (NYSE:TRV)

Trust Asset Management LLC decreased its position in The Travelers Companies, Inc. (NYSE:TRV) by 2.4% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,619 shares of the insurance provider’s stock after selling 65 shares during the period. Trust Asset Management LLC’s holdings in Travelers Companies were worth $693,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Bank of America Corp DE boosted its holdings in Travelers Companies by 236.9% in the 4th quarter. Bank of America Corp DE now owns 3,507,219 shares of the insurance provider’s stock valued at $844,854,000 after purchasing an additional 2,466,098 shares in the last quarter. GAMMA Investing LLC boosted its stake in shares of Travelers Companies by 31,132.9% in the first quarter. GAMMA Investing LLC now owns 2,203,481 shares of the insurance provider’s stock valued at $582,733,000 after buying an additional 2,196,426 shares in the last quarter. Nuveen LLC acquired a new position in Travelers Companies during the first quarter worth $294,755,000. Balyasny Asset Management L.P. grew its holdings in Travelers Companies by 153.8% during the fourth quarter. Balyasny Asset Management L.P. now owns 1,497,339 shares of the insurance provider’s stock worth $360,694,000 after acquiring an additional 907,266 shares during the period. Finally, Goldman Sachs Group Inc. lifted its holdings in Travelers Companies by 25.3% in the first quarter. Goldman Sachs Group Inc. now owns 1,934,625 shares of the insurance provider’s stock valued at $511,631,000 after acquiring an additional 390,104 shares during the period. 82.45% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Travelers Companies

In related news, EVP Jeffrey P. Klenk sold 15,180 shares of the firm’s stock in a transaction that occurred on Thursday, May 29th. The shares were sold at an average price of $272.87, for a total value of $4,142,166.60. Following the sale, the executive vice president directly owned 6,075 shares of the company’s stock, valued at approximately $1,657,685.25. This trade represents a 71.42% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Daniel S. Frey sold 20,286 shares of Travelers Companies stock in a transaction on Thursday, May 29th. The shares were sold at an average price of $273.48, for a total transaction of $5,547,815.28. Following the completion of the transaction, the chief financial officer owned 26,932 shares in the company, valued at approximately $7,365,363.36. This trade represents a 42.96% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 175,374 shares of company stock valued at $47,929,912. Corporate insiders own 1.46% of the company’s stock.

Travelers Companies Trading Down 0.1%

Travelers Companies stock opened at $265.00 on Monday. The stock has a 50-day moving average price of $263.16 and a 200 day moving average price of $258.78. The Travelers Companies, Inc. has a 52 week low of $208.63 and a 52 week high of $277.83. The stock has a market cap of $59.66 billion, a PE ratio of 11.72, a P/E/G ratio of 3.07 and a beta of 0.51. The company has a current ratio of 0.33, a quick ratio of 0.33 and a debt-to-equity ratio of 0.27.

Travelers Companies (NYSE:TRV) last posted its quarterly earnings data on Thursday, July 17th. The insurance provider reported $6.51 earnings per share for the quarter, beating analysts’ consensus estimates of $3.52 by $2.99. The business had revenue of $11.54 billion during the quarter, compared to analyst estimates of $11.02 billion. Travelers Companies had a net margin of 10.97% and a return on equity of 18.68%. The company’s revenue was up 7.4% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.51 earnings per share. Equities research analysts predict that The Travelers Companies, Inc. will post 17.02 earnings per share for the current fiscal year.

Travelers Companies Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Wednesday, September 10th will be paid a $1.10 dividend. This represents a $4.40 annualized dividend and a yield of 1.7%. The ex-dividend date is Wednesday, September 10th. Travelers Companies’s dividend payout ratio is presently 19.46%.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the stock. Keefe, Bruyette & Woods upped their price target on shares of Travelers Companies from $304.00 to $316.00 and gave the stock an “outperform” rating in a research note on Friday, July 18th. UBS Group upped their target price on shares of Travelers Companies from $275.00 to $284.00 and gave the stock a “neutral” rating in a research report on Monday, July 21st. Citigroup reiterated a “market perform” rating on shares of Travelers Companies in a research report on Monday, July 21st. Wall Street Zen cut Travelers Companies from a “buy” rating to a “hold” rating in a report on Saturday. Finally, Wells Fargo & Company raised their price objective on Travelers Companies from $264.00 to $275.00 and gave the company an “equal weight” rating in a research note on Friday, July 18th. Two research analysts have rated the stock with a sell rating, eleven have given a hold rating and six have given a buy rating to the company. According to data from MarketBeat, Travelers Companies presently has a consensus rating of “Hold” and an average target price of $282.69.

Travelers Companies Company 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.