Aberdeen Group plc Sells 186,573 Shares of The Travelers Companies, Inc. $TRV

Key Points

• Aberdeen Group plc reduced its stake in The Travelers Companies by 51.2%, selling 186,573 shares and retaining 177,771 shares worth approximately $46.78 million.
• A number of large institutional investors, including Bank of America Corp and GAMMA Investing LLC, significantly increased their holdings in Travelers Companies during the first quarter, reflecting strong interest in the stock.
• The Travelers Companies is set to pay a quarterly dividend of $1.10 per share on September 30, 2023, which represents an annualized yield of 1.7% based on its current share price.

Aberdeen Group plc cut its stake in The Travelers Companies, Inc. (NYSE:TRV - Free Report) by 51.2% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 177,771 shares of the insurance provider's stock after selling 186,573 shares during the period. Aberdeen Group plc owned about 0.08% of Travelers Companies worth $46,785,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of TRV. Bank of America Corp DE raised its holdings in shares of 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 worth $844,854,000 after buying an additional 2,466,098 shares in the last quarter. GAMMA Investing LLC raised its position in shares of Travelers Companies by 31,132.9% during the first quarter. GAMMA Investing LLC now owns 2,203,481 shares of the insurance provider's stock worth $582,733,000 after acquiring an additional 2,196,426 shares during the last quarter. Nuveen LLC bought a new stake in shares of Travelers Companies during the first quarter worth $294,755,000. Balyasny Asset Management L.P. raised its position in shares of 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 last quarter. Finally, Goldman Sachs Group Inc. raised its position in shares of Travelers Companies by 25.3% during the first quarter. Goldman Sachs Group Inc. now owns 1,934,625 shares of the insurance provider's stock worth $511,631,000 after acquiring an additional 390,104 shares during the last quarter. 82.45% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Travelers Companies

In other Travelers Companies news, EVP Gregory C. Toczydlowski sold 11,505 shares of the firm's stock in a transaction on Monday, July 21st. The stock was sold at an average price of $266.12, for a total value of $3,061,710.60. Following the sale, the executive vice president owned 18,416 shares of the company's stock, valued at approximately $4,900,865.92. This trade represents a 38.45% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Daniel S. Frey sold 20,286 shares of the firm's stock in a transaction on Thursday, May 29th. The shares were sold at an average price of $273.48, for a total value of $5,547,815.28. Following the completion of the sale, the chief financial officer directly owned 26,932 shares in the company, valued at approximately $7,365,363.36. This represents a 42.96% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 175,374 shares of company stock valued at $47,929,912 over the last ninety days. 1.46% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on TRV shares. Cantor Fitzgerald raised Travelers Companies to a "strong-buy" rating in a research note on Wednesday, August 13th. Wall Street Zen lowered Travelers Companies from a "buy" rating to a "hold" rating in a report on Saturday, August 9th. Keefe, Bruyette & Woods boosted their price target on Travelers Companies from $304.00 to $316.00 and gave the company an "outperform" rating in a report on Friday, July 18th. UBS Group boosted their price target on Travelers Companies from $275.00 to $284.00 and gave the company a "neutral" rating in a report on Monday, July 21st. Finally, Wells Fargo & Company boosted their price target on Travelers Companies from $264.00 to $275.00 and gave the company an "equal weight" rating in a report on Friday, July 18th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, ten have assigned a Hold rating and two have assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, Travelers Companies currently has an average rating of "Hold" and an average price target of $284.56.

Travelers Companies Price Performance

NYSE:TRV traded up $3.8130 during trading hours on Tuesday, reaching $268.7330. 1,354,133 shares of the company were exchanged, compared to its average volume of 1,335,213. The company has a market capitalization of $60.50 billion, a P/E ratio of 11.89, a P/E/G ratio of 3.05 and a beta of 0.51. The Travelers Companies, Inc. has a 1-year low of $215.39 and a 1-year high of $277.83. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.33 and a quick ratio of 0.33. The business has a 50 day moving average of $262.36 and a 200 day moving average of $259.57.

Travelers Companies (NYSE:TRV - Get Free Report) last issued its quarterly earnings results on Thursday, July 17th. The insurance provider reported $6.51 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.52 by $2.99. The business had revenue of $11.54 billion for the quarter, compared to the consensus estimate of $11.02 billion. Travelers Companies had a return on equity of 18.68% and a net margin of 10.97%.The firm's quarterly revenue was up 7.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.51 earnings per share. Research analysts forecast that The Travelers Companies, Inc. will post 17.02 EPS for the current year.

Travelers Companies Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Wednesday, September 10th will be given a dividend of $1.10 per share. The ex-dividend date of this dividend is Wednesday, September 10th. This represents a $4.40 dividend on an annualized basis and a yield of 1.6%. Travelers Companies's dividend payout ratio is currently 19.46%.

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.