The Travelers Companies, Inc. $TRV Shares Sold by Academy Capital Management

Key Points

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Academy Capital Management decreased its stake in The Travelers Companies, Inc. (NYSE:TRV - Free Report) by 15.0% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,417 shares of the insurance provider's stock after selling 1,135 shares during the period. Travelers Companies makes up 0.3% of Academy Capital Management's portfolio, making the stock its 21st biggest position. Academy Capital Management's holdings in Travelers Companies were worth $1,697,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently modified their holdings of TRV. Bank of America Corp DE boosted its position in shares of Travelers Companies by 236.9% in the fourth 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 during the period. GAMMA Investing LLC boosted its position 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 worth $582,733,000 after buying an additional 2,196,426 shares during the period. Nuveen LLC purchased a new stake in shares of Travelers Companies in the first quarter worth about $294,755,000. Balyasny Asset Management L.P. boosted its position in shares of Travelers Companies by 153.8% in 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 buying an additional 907,266 shares during the period. Finally, Goldman Sachs Group Inc. boosted its position in shares of 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 worth $511,631,000 after buying an additional 390,104 shares during the period. Hedge funds and other institutional investors own 82.45% of the company's stock.

Insider Buying and Selling at Travelers Companies

In other news, CFO Daniel S. Frey sold 20,286 shares of the stock in a transaction that occurred on Thursday, May 29th. The stock was sold at an average price of $273.48, for a total transaction of $5,547,815.28. Following 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Avrohom J. Kess sold 23,434 shares of the stock in a transaction that occurred on Thursday, May 29th. The stock was sold at an average price of $273.93, for a total value of $6,419,275.62. Following the sale, the insider owned 48,387 shares in the company, valued at $13,254,650.91. The trade was a 32.63% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 175,374 shares of company stock worth $47,929,912. Corporate insiders own 1.46% of the company's stock.

Travelers Companies Stock Up 0.5%

NYSE TRV traded up $1.4190 on Friday, hitting $276.3390. 1,457,579 shares of the stock traded hands, compared to its average volume of 1,335,443. The stock has a 50-day moving average of $262.92 and a 200 day moving average of $259.94. The Travelers Companies, Inc. has a twelve month low of $218.57 and a twelve month high of $279.04. The company has a market capitalization of $62.21 billion, a P/E ratio of 12.22, a price-to-earnings-growth ratio of 3.15 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 - Get Free Report) last announced its quarterly earnings results on Thursday, July 17th. The insurance provider reported $6.51 earnings per share 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 analysts' expectations of $11.02 billion. Travelers Companies had a return on equity of 18.68% and a net margin of 10.97%.The business's quarterly revenue was up 7.4% on a year-over-year basis. During the same period in the prior year, the firm earned $2.51 EPS. As a group, analysts expect that The Travelers Companies, Inc. will post 17.02 earnings per share for the current fiscal year.

Travelers Companies Dividend Announcement

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

Analysts Set New Price Targets

Several research analysts recently commented on the company. Barclays cut Travelers Companies from an "overweight" rating to an "equal weight" rating and cut their price target for the stock from $280.00 to $274.00 in a research note on Monday, July 7th. Citigroup initiated coverage on Travelers Companies in a report on Wednesday, August 13th. They issued a "neutral" rating and a $291.00 price target for the company. Cantor Fitzgerald raised Travelers Companies to a "strong-buy" rating in a report on Wednesday, August 13th. Morgan Stanley set a $269.00 price target on Travelers Companies and gave the company an "equal weight" rating in a report on Monday, May 19th. Finally, UBS Group increased 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. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, ten have given a Hold rating and two have assigned a Sell rating to the company's stock. According to data from MarketBeat.com, Travelers Companies presently has an average rating of "Hold" and a consensus target price of $284.56.

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.