Candriam S.C.A. Reduces Holdings in The Travelers Companies, Inc. $TRV

Key Points

• Candriam S.C.A. decreased its holdings in The Travelers Companies by 13.8%, selling 3,474 shares and holding 21,781 shares worth approximately $5.76 million at the end of the reporting period.
• Several institutional investors have made significant adjustments, with Bank of America increasing its stake by 236.9% and GAMMA Investing LLC growing its holdings by an astonishing 31,132.9%.
• Travelers Companies reported a strong quarterly earnings of $6.51 EPS, beating analyst estimates, while also announcing a quarterly dividend of $1.10 to be paid on September 30.

Candriam S.C.A. decreased its position in shares of The Travelers Companies, Inc. (NYSE:TRV - Free Report) by 13.8% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 21,781 shares of the insurance provider's stock after selling 3,474 shares during the period. Candriam S.C.A.'s holdings in Travelers Companies were worth $5,760,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in TRV. Bank of America Corp DE increased its stake in Travelers Companies by 236.9% during 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 during the period. GAMMA Investing LLC grew its holdings in Travelers Companies by 31,132.9% during the 1st 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 in the last quarter. Nuveen LLC acquired a new position in Travelers Companies during the 1st quarter worth $294,755,000. Balyasny Asset Management L.P. grew its holdings in Travelers Companies by 153.8% during the 4th 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 in the last quarter. Finally, Goldman Sachs Group Inc. grew its holdings in 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. Hedge funds and other institutional investors own 82.45% of the company's stock.

Insider Transactions at Travelers Companies

In related news, EVP Gregory C. Toczydlowski sold 11,505 shares of Travelers Companies 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 sale, the executive vice president directly owned 18,416 shares in the company, valued at $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 is available through this hyperlink. Also, insider Avrohom J. Kess sold 23,434 shares of Travelers Companies stock in a transaction dated 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 in the company, valued at approximately $13,254,650.91. This represents a 32.63% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 175,374 shares of company stock worth $47,929,912 over the last 90 days. Corporate insiders own 1.46% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on TRV. UBS Group raised their price objective on shares of Travelers Companies from $275.00 to $284.00 and gave the stock a "neutral" rating in a report on Monday, July 21st. Barclays lowered shares of Travelers Companies from an "overweight" rating to an "equal weight" rating and decreased their price objective for the stock from $280.00 to $274.00 in a report on Monday, July 7th. Cantor Fitzgerald raised shares of Travelers Companies to a "strong-buy" rating in a report on Wednesday, August 13th. Morgan Stanley set a $269.00 price objective on shares of Travelers Companies and gave the stock an "equal weight" rating in a report on Monday, May 19th. Finally, Citigroup began coverage on shares of Travelers Companies in a report on Wednesday, August 13th. They set a "neutral" rating and a $291.00 price objective for the company. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, ten have given a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, Travelers Companies currently has an average rating of "Hold" and an average target price of $284.56.

Travelers Companies Trading Up 0.2%

NYSE TRV opened at $274.9280 on Friday. The Travelers Companies, Inc. has a one year low of $216.18 and a one year high of $277.83. The company has a 50-day simple moving average of $262.92 and a 200-day simple moving average of $259.94. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.33 and a current ratio of 0.33. The firm has a market capitalization of $61.90 billion, a PE ratio of 12.16, a price-to-earnings-growth ratio of 3.15 and a beta of 0.51.

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

Travelers Companies Announces Dividend

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

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.

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