Assenagon Asset Management S.A. Lowers Stock Position in The Travelers Companies, Inc. $TRV

Key Points

• Assenagon Asset Management S.A. significantly reduced its stake in The Travelers Companies, Inc. by 98.6%, selling 485,643 shares during the second quarter.
• The Travelers Companies reported an EPS of $6.51, exceeding analyst expectations and reflecting a year-over-year revenue increase of 7.4%.
• The company announced a quarterly dividend of $1.10, with a dividend yield of 1.6%, to be paid on September 30th.

Assenagon Asset Management S.A. reduced its stake in The Travelers Companies, Inc. (NYSE:TRV - Free Report) by 98.6% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,947 shares of the insurance provider's stock after selling 485,643 shares during the quarter. Assenagon Asset Management S.A.'s holdings in Travelers Companies were worth $1,859,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also bought and sold shares of TRV. PFG Advisors lifted its holdings in shares of Travelers Companies by 108.8% during the 1st quarter. PFG Advisors now owns 4,255 shares of the insurance provider's stock worth $1,125,000 after acquiring an additional 2,217 shares during the last quarter. Greatmark Investment Partners Inc. boosted its holdings in shares of Travelers Companies by 3.0% in the 1st quarter. Greatmark Investment Partners Inc. now owns 60,953 shares of the insurance provider's stock worth $16,120,000 after purchasing an additional 1,772 shares in the last quarter. Portside Wealth Group LLC purchased a new position in shares of Travelers Companies in the 1st quarter worth about $208,000. Atlas Capital Advisors Inc. boosted its holdings in shares of Travelers Companies by 890.9% in the 1st quarter. Atlas Capital Advisors Inc. now owns 4,558 shares of the insurance provider's stock worth $1,205,000 after purchasing an additional 4,098 shares in the last quarter. Finally, Concurrent Investment Advisors LLC grew its position in Travelers Companies by 47.3% during the first quarter. Concurrent Investment Advisors LLC now owns 5,305 shares of the insurance provider's stock valued at $1,403,000 after acquiring an additional 1,703 shares during the last quarter. 82.45% of the stock is owned by hedge funds and other institutional investors.

Travelers Companies Stock Up 1.3%

Shares of NYSE:TRV opened at $277.73 on Friday. The Travelers Companies, Inc. has a 1 year low of $224.62 and a 1 year high of $280.70. The company has a market cap of $62.53 billion, a PE ratio of 12.28, a P/E/G ratio of 3.15 and a beta of 0.53. 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 stock's 50-day moving average is $270.00 and its 200 day moving average is $264.74.

Travelers Companies (NYSE:TRV - Get Free Report) last announced its earnings results on Thursday, July 17th. The insurance provider reported $6.51 EPS for the quarter, beating analysts' consensus estimates of $3.52 by $2.99. The company 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 firm's revenue for the quarter was up 7.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.51 earnings per share. Sell-side analysts anticipate that The Travelers Companies, Inc. will post 17.02 EPS for the current year.

Travelers Companies Announces Dividend

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

Wall Street Analyst Weigh In

A number of research analysts have commented on the stock. Wall Street Zen cut shares of Travelers Companies from a "buy" rating to a "hold" rating in a research report on Saturday, August 9th. Wolfe Research started coverage on shares of Travelers Companies in a research report on Monday, September 15th. They issued a "peer perform" rating on the stock. Cantor Fitzgerald upgraded shares of Travelers Companies to a "strong-buy" rating in a research report on Wednesday, August 13th. Citigroup assumed coverage on Travelers Companies in a research note on Wednesday, August 13th. They issued a "neutral" rating and a $291.00 target price for the company. Finally, Keefe, Bruyette & Woods boosted their target price on Travelers Companies from $304.00 to $316.00 and gave the company an "outperform" rating in a research note on Friday, July 18th. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, eleven have given a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $284.56.

Insider Activity

In other news, EVP Mojgan M. Lefebvre sold 16,820 shares of the firm's stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $277.54, for a total value of $4,668,222.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Gregory C. Toczydlowski sold 11,505 shares of Travelers Companies stock in a transaction that occurred on 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 sale, the executive vice president directly owned 18,416 shares in the company, valued at approximately $4,900,865.92. The trade was a 38.45% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 1.46% of the company's stock.

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.

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