The Travelers Companies, Inc. (NYSE:TRV) Stake Cut by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC cut its stake in shares of The Travelers Companies, Inc. (NYSE:TRV - Free Report) by 24.5% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 12,779 shares of the insurance provider's stock after selling 4,144 shares during the quarter. Allspring Global Investments Holdings LLC's holdings in Travelers Companies were worth $3,381,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in TRV. Brighton Jones LLC boosted its position in shares of Travelers Companies by 13.4% in the 4th quarter. Brighton Jones LLC now owns 3,277 shares of the insurance provider's stock worth $789,000 after buying an additional 387 shares in the last quarter. Revolve Wealth Partners LLC purchased a new stake in shares of Travelers Companies in the 4th quarter worth about $276,000. SBI Securities Co. Ltd. purchased a new stake in shares of Travelers Companies in the 4th quarter worth about $83,000. Assetmark Inc. boosted its position in shares of Travelers Companies by 9.2% in the 4th quarter. Assetmark Inc. now owns 2,972 shares of the insurance provider's stock worth $716,000 after buying an additional 251 shares in the last quarter. Finally, Proficio Capital Partners LLC purchased a new stake in shares of Travelers Companies in the 4th quarter worth about $399,000. 82.45% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, insider Avrohom J. Kess sold 23,434 shares of the firm's stock in a transaction that occurred on Thursday, May 29th. The shares were sold at an average price of $273.93, for a total transaction of $6,419,275.62. Following the completion of the sale, the insider owned 48,387 shares of the company's stock, valued at approximately $13,254,650.91. This trade represents a 32.63% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Daniel S. Frey sold 20,286 shares of the firm's 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 of the company's stock, valued at $7,365,363.36. The trade was a 42.96% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 163,869 shares of company stock valued at $44,868,201 over the last three months. Company insiders own 1.46% of the company's stock.

Travelers Companies Stock Down 0.3%

NYSE:TRV traded down $0.77 during trading hours on Tuesday, hitting $258.23. The stock had a trading volume of 56,122 shares, compared to its average volume of 1,280,894. The company has a current ratio of 0.33, a quick ratio of 0.33 and a debt-to-equity ratio of 0.28. The Travelers Companies, Inc. has a 1-year low of $202.69 and a 1-year high of $277.83. The business has a 50 day simple moving average of $267.83 and a two-hundred day simple moving average of $255.53. The company has a market cap of $58.32 billion, a PE ratio of 14.07, a price-to-earnings-growth ratio of 3.87 and a beta of 0.51.

Travelers Companies (NYSE:TRV - Get Free Report) last issued its quarterly earnings data on Wednesday, April 16th. The insurance provider reported $1.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.53 by $1.38. Travelers Companies had a net margin of 9.09% and a return on equity of 16.10%. The company had revenue of $10.52 billion during the quarter, compared to the consensus estimate of $10.97 billion. During the same quarter last year, the company earned $4.69 earnings per share. Analysts predict that The Travelers Companies, Inc. will post 17.02 EPS for the current year.

Travelers Companies Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Tuesday, June 10th were given a $1.10 dividend. This is an increase from Travelers Companies's previous quarterly dividend of $1.05. The ex-dividend date of this dividend was Tuesday, June 10th. This represents a $4.40 annualized dividend and a yield of 1.70%. Travelers Companies's dividend payout ratio (DPR) is 23.95%.

Analysts Set New Price Targets

TRV has been the topic of several recent research reports. Morgan Stanley set a $269.00 price objective on shares of Travelers Companies and gave the stock an "equal weight" rating in a research report on Monday, May 19th. Barclays lowered shares of Travelers Companies from an "overweight" rating to an "equal weight" rating and reduced their target price for the company from $280.00 to $274.00 in a report on Monday. Evercore ISI upped their target price on shares of Travelers Companies from $288.00 to $296.00 and gave the company an "outperform" rating in a report on Thursday, April 17th. Keefe, Bruyette & Woods upped their target price on shares of Travelers Companies from $290.00 to $303.00 and gave the company an "outperform" rating in a report on Wednesday, May 28th. Finally, Jefferies Financial Group upped their target price on shares of Travelers Companies from $265.00 to $270.00 and gave the company a "hold" rating in a report on Friday, April 11th. Three equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $270.79.

Travelers Companies Company 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.