Adage Capital Partners GP L.L.C. Trims Stock Holdings in The Travelers Companies, Inc. $TRV

Key Points

• Adage Capital Partners GP L.L.C. has reduced its stake in The Travelers Companies, Inc. by 13.5%, owning now 103,913 shares worth approximately $27.48 million after selling 16,200 shares in Q1.
• Insider trading activity includes EVP Mojgan M. Lefebvre selling 16,820 shares for over $4.6 million, while EVP Gregory C. Toczydlowski sold 11,505 shares, marking a notable decrease in their positions.
• The Travelers Companies reported a significant EPS of $6.51 for the last quarter, surpassing analysts' expectations, with annual revenue growth of 7.4% year-over-year.

Adage Capital Partners GP L.L.C. lessened its position in shares of The Travelers Companies, Inc. (NYSE:TRV - Free Report) by 13.5% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 103,913 shares of the insurance provider's stock after selling 16,200 shares during the period. Adage Capital Partners GP L.L.C.'s holdings in Travelers Companies were worth $27,481,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of TRV. Vanguard Group Inc. grew its position in shares of Travelers Companies by 0.5% during the 1st quarter. Vanguard Group Inc. now owns 21,733,556 shares of the insurance provider's stock worth $5,747,656,000 after purchasing an additional 115,808 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Travelers Companies by 0.8% during the 1st quarter. Dimensional Fund Advisors LP now owns 3,403,539 shares of the insurance provider's stock valued at $899,988,000 after acquiring an additional 25,573 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of Travelers Companies by 12.0% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,712,620 shares of the insurance provider's stock valued at $653,443,000 after acquiring an additional 291,506 shares during the period. GAMMA Investing LLC raised its position in shares of Travelers Companies by 31,132.9% in the 1st 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. Finally, Goldman Sachs Group Inc. boosted its position in shares of Travelers Companies by 25.3% during the 1st 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 in the last quarter. 82.45% of the stock is owned by institutional investors.

Travelers Companies Stock Down 1.5%

Shares of Travelers Companies stock traded down $4.06 on Friday, hitting $275.37. The company had a trading volume of 970,738 shares, compared to its average volume of 1,169,175. The stock has a market capitalization of $61.99 billion, a price-to-earnings ratio of 12.18, a P/E/G ratio of 3.16 and a beta of 0.53. The Travelers Companies, Inc. has a 1 year low of $224.62 and a 1 year high of $280.70. The stock has a 50 day moving average of $264.94 and a 200-day moving average of $262.45. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.33 and a current ratio of 0.33.

Travelers Companies (NYSE:TRV - Get Free Report) last issued its quarterly earnings data on Thursday, July 17th. The insurance provider reported $6.51 EPS for the quarter, topping the consensus estimate of $3.52 by $2.99. The firm had revenue of $11.54 billion during 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 company's quarterly revenue was up 7.4% compared to the same quarter last year. During the same period in the prior year, the business posted $2.51 earnings per share. As a group, sell-side analysts forecast that The Travelers Companies, Inc. will post 17.02 earnings per share for the current year.

Travelers Companies Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Wednesday, September 10th will be paid 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 payout ratio is presently 19.46%.

Insider Transactions at Travelers Companies

In related news, EVP Gregory C. Toczydlowski sold 11,505 shares of the business's stock in a transaction dated Monday, July 21st. The shares were sold at an average price of $266.12, for a total value of $3,061,710.60. Following the transaction, the executive vice president directly owned 18,416 shares of the company's stock, valued at approximately $4,900,865.92. The trade was a 38.45% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Mojgan M. Lefebvre sold 16,820 shares of the firm's stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $277.54, for a total transaction of $4,668,222.80. The disclosure for this sale can be found here. 1.46% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the stock. Cantor Fitzgerald raised shares of Travelers Companies to a "strong-buy" rating in a report on Wednesday, August 13th. Citigroup started coverage on shares of Travelers Companies in a research note on Wednesday, August 13th. They issued a "neutral" rating and a $291.00 price objective on the stock. Morgan Stanley set a $269.00 price objective on shares of Travelers Companies and gave the stock an "equal weight" rating in a research note on Monday, May 19th. Keefe, Bruyette & Woods upped their price target on shares of Travelers Companies from $304.00 to $316.00 and gave the company an "outperform" rating in a research report on Friday, July 18th. Finally, Wells Fargo & Company upped their price target on shares of Travelers Companies from $264.00 to $275.00 and gave the company an "equal weight" rating in a research report on Friday, July 18th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, ten have issued a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, Travelers Companies currently has a consensus rating of "Hold" and an average target price of $284.56.

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.