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

Advisors Asset Management Inc. lessened its stake in The Travelers Companies, Inc. (NYSE:TRV) by 34.6% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 18,403 shares of the insurance provider’s stock after selling 9,725 shares during the quarter. Advisors Asset Management Inc.’s holdings in Travelers Companies were worth $4,309,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Northwest Bancshares Inc. purchased a new position in Travelers Companies during the 3rd quarter valued at approximately $5,315,000. Prospera Private Wealth LLC purchased a new position in shares of Travelers Companies in the third quarter valued at $84,000. West Family Investments Inc. increased its position in Travelers Companies by 21.1% in the third quarter. West Family Investments Inc. now owns 1,598 shares of the insurance provider’s stock worth $374,000 after purchasing an additional 278 shares during the last quarter. PNC Financial Services Group Inc. raised its stake in Travelers Companies by 0.3% during the third quarter. PNC Financial Services Group Inc. now owns 393,431 shares of the insurance provider’s stock valued at $92,110,000 after purchasing an additional 1,130 shares in the last quarter. Finally, B. Metzler seel. Sohn & Co. Holding AG bought a new position in Travelers Companies during the third quarter valued at $2,932,000. Institutional investors own 82.45% of the company’s stock.

Travelers Companies Trading Up 0.6 %

TRV opened at $262.47 on Friday. The company has a quick ratio of 0.34, a current ratio of 0.34 and a debt-to-equity ratio of 0.29. The stock’s fifty day moving average is $246.83 and its two-hundred day moving average is $225.94. The company has a market capitalization of $59.59 billion, a P/E ratio of 13.46, a PEG ratio of 1.24 and a beta of 0.62. The Travelers Companies, Inc. has a 52 week low of $175.88 and a 52 week high of $269.55.

Travelers Companies (NYSE:TRV) last announced its quarterly earnings results on Thursday, October 17th. The insurance provider reported $5.24 EPS for the quarter, beating the consensus estimate of $3.79 by $1.45. Travelers Companies had a return on equity of 17.69% and a net margin of 10.02%. The firm had revenue of $11.90 billion for the quarter, compared to analyst estimates of $11.46 billion. During the same quarter last year, the firm posted $1.95 earnings per share. The business’s revenue for the quarter was up 11.9% on a year-over-year basis. Analysts forecast that The Travelers Companies, Inc. will post 18.64 earnings per share for the current year.

Travelers Companies Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Tuesday, December 10th will be issued a $1.05 dividend. The ex-dividend date of this dividend is Tuesday, December 10th. This represents a $4.20 annualized dividend and a dividend yield of 1.60%. Travelers Companies’s dividend payout ratio is currently 21.54%.

Analyst Ratings Changes

A number of research firms have recently weighed in on TRV. Wells Fargo & Company boosted their target price on shares of Travelers Companies from $207.00 to $256.00 and gave the stock an “equal weight” rating in a report on Monday, October 21st. Bank of America upped their price objective on Travelers Companies from $241.00 to $265.00 and gave the company an “underperform” rating in a research report on Thursday, October 17th. Janney Montgomery Scott cut Travelers Companies from a “buy” rating to a “neutral” rating and set a $280.00 target price for the company. in a report on Thursday. Royal Bank of Canada boosted their target price on Travelers Companies from $250.00 to $273.00 and gave the company a “sector perform” rating in a research report on Friday, October 18th. Finally, Jefferies Financial Group raised 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. Four analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Travelers Companies presently has an average rating of “Hold” and an average target price of $251.15.

Insider Activity

In other news, Vice Chairman William H. Heyman sold 3,000 shares of Travelers Companies stock in a transaction on Tuesday, October 22nd. The stock was sold at an average price of $260.55, for a total value of $781,650.00. Following the transaction, the insider now directly owns 250,384 shares in the company, valued at approximately $65,237,551.20. This trade represents a 1.18 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Michael Frederick Klein sold 10,000 shares of the company’s stock in a transaction on Wednesday, October 23rd. The stock was sold at an average price of $256.17, for a total value of $2,561,700.00. Following the sale, the executive vice president now owns 22,798 shares of the company’s stock, valued at $5,840,163.66. This trade represents a 30.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 74,409 shares of company stock worth $19,305,504. Corporate insiders own 1.33% of the company’s stock.

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.