Kentucky Retirement Systems Insurance Trust Fund Cuts Stake in The Travelers Companies, Inc. (NYSE:TRV)

Kentucky Retirement Systems Insurance Trust Fund lessened its stake in shares of The Travelers Companies, Inc. (NYSE:TRV) by 8.6% in the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 6,748 shares of the insurance provider’s stock after selling 638 shares during the period. Kentucky Retirement Systems Insurance Trust Fund’s holdings in Travelers Companies were worth $1,580,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in TRV. Quent Capital LLC raised its holdings in shares of Travelers Companies by 19.7% in the 1st quarter. Quent Capital LLC now owns 1,375 shares of the insurance provider’s stock worth $316,000 after purchasing an additional 226 shares during the period. Jupiter Asset Management Ltd. purchased a new stake in Travelers Companies in the first quarter worth $4,974,000. Mitsubishi UFJ Trust & Banking Corp increased its position in Travelers Companies by 3.1% in the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 186,582 shares of the insurance provider’s stock worth $42,882,000 after buying an additional 5,595 shares during the last quarter. Acadian Asset Management LLC raised its stake in shares of Travelers Companies by 485.9% in the first quarter. Acadian Asset Management LLC now owns 190,322 shares of the insurance provider’s stock valued at $43,785,000 after buying an additional 157,837 shares during the period. Finally, Edgestream Partners L.P. purchased a new position in shares of Travelers Companies during the 1st quarter valued at $235,000. Institutional investors own 82.45% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on TRV shares. Royal Bank of Canada lifted their price objective on Travelers Companies from $250.00 to $273.00 and gave the stock a “sector perform” rating in a report on Friday, October 18th. The Goldman Sachs Group boosted their price target on shares of Travelers Companies from $216.00 to $245.00 and gave the company a “sell” rating in a research report on Tuesday, October 22nd. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Travelers Companies from $221.00 to $234.00 and gave the stock a “hold” rating in a report on Wednesday, August 7th. Jefferies Financial Group lifted their price objective on shares of Travelers Companies from $210.00 to $235.00 and gave the company a “hold” rating in a research note on Wednesday, October 9th. Finally, Piper Sandler dropped their target price on Travelers Companies from $213.00 to $207.00 and set a “neutral” rating on the stock in a research report on Monday, July 22nd. Four equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Travelers Companies currently has an average rating of “Hold” and a consensus price target of $247.90.

Insider Transactions at Travelers Companies

In related news, Vice Chairman William H. Heyman sold 3,000 shares of the firm’s stock in a transaction dated Tuesday, October 22nd. The stock was sold at an average price of $260.55, for a total transaction of $781,650.00. Following the transaction, the insider now directly owns 250,384 shares of the company’s stock, valued at approximately $65,237,551.20. This trade represents a 1.18 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Michael Frederick Klein sold 10,000 shares of the company’s stock in a transaction that occurred 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 completion of the sale, the executive vice president now directly owns 22,798 shares of the company’s stock, valued at approximately $5,840,163.66. This represents a 30.49 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 63,999 shares of company stock worth $16,580,166. 1.33% of the stock is currently owned by corporate insiders.

Travelers Companies Stock Up 1.7 %

TRV stock opened at $260.82 on Friday. The company’s 50 day moving average is $244.44 and its 200 day moving average is $224.40. The stock has a market cap of $59.21 billion, a price-to-earnings ratio of 13.38, a price-to-earnings-growth ratio of 1.25 and a beta of 0.62. The company has a current ratio of 0.34, a quick ratio of 0.34 and a debt-to-equity ratio of 0.29. The Travelers Companies, Inc. has a 1-year low of $169.18 and a 1-year high of $269.55.

Travelers Companies (NYSE:TRV) last issued its quarterly earnings results on Thursday, October 17th. The insurance provider reported $5.24 EPS for the quarter, topping 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 firm had revenue of $11.90 billion for the quarter, compared to analyst estimates of $11.46 billion. During the same quarter in the prior year, the firm earned $1.95 EPS. The business’s revenue for the quarter was up 11.9% compared to the same quarter last year. Sell-side analysts predict that The Travelers Companies, Inc. will post 18.64 EPS for the current fiscal year.

Travelers Companies Announces Dividend

The company 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 dividend of $1.05 per share. The ex-dividend date is Tuesday, December 10th. This represents a $4.20 dividend on an annualized basis and a yield of 1.61%. Travelers Companies’s payout ratio is 21.54%.

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.