Commonwealth Equity Services LLC Sells 5,927 Shares of The Travelers Companies, Inc. (NYSE:TRV)

Key Points

• Commonwealth Equity Services LLC has reduced its stake in The Travelers Companies by 5.6%, selling 5,927 shares, bringing their total holdings to 99,642 shares valued at approximately $26.35 million.
• Multiple institutional investors have adjusted their holdings, with Raiffeisen Bank increasing its position by 10.5% and others like Blueshift Asset Management boosting their stake by 13.3% in the same period.
• The Travelers Companies reported quarterly earnings of $6.51 EPS, exceeding estimates, and plans to distribute a quarterly dividend of $1.10 on September 30th.

Commonwealth Equity Services LLC decreased its stake in shares of The Travelers Companies, Inc. (NYSE:TRV - Free Report) by 5.6% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 99,642 shares of the insurance provider's stock after selling 5,927 shares during the period. Commonwealth Equity Services LLC's holdings in Travelers Companies were worth $26,351,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Raiffeisen Bank International AG increased its position in shares of Travelers Companies by 10.5% during the first quarter. Raiffeisen Bank International AG now owns 37,173 shares of the insurance provider's stock valued at $9,732,000 after buying an additional 3,527 shares during the period. Argent Trust Co grew its stake in Travelers Companies by 2.8% during the first quarter. Argent Trust Co now owns 16,546 shares of the insurance provider's stock valued at $4,376,000 after acquiring an additional 458 shares in the last quarter. Manchester Capital Management LLC increased its holdings in Travelers Companies by 5.4% during the 1st quarter. Manchester Capital Management LLC now owns 1,544 shares of the insurance provider's stock worth $408,000 after acquiring an additional 79 shares during the period. Baker Avenue Asset Management LP increased its holdings in Travelers Companies by 0.3% during the 1st quarter. Baker Avenue Asset Management LP now owns 14,182 shares of the insurance provider's stock worth $3,751,000 after acquiring an additional 45 shares during the period. Finally, Blueshift Asset Management LLC lifted its stake in Travelers Companies by 13.3% in the 1st quarter. Blueshift Asset Management LLC now owns 2,015 shares of the insurance provider's stock worth $533,000 after purchasing an additional 236 shares in the last quarter. Institutional investors own 82.45% of the company's stock.

Wall Street Analyst Weigh In

TRV has been the topic of several research analyst reports. UBS Group upped their price target 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. Jefferies Financial Group boosted their target price on Travelers Companies from $265.00 to $270.00 and gave the stock a "hold" rating in a research report on Friday, April 11th. Keefe, Bruyette & Woods raised their price target on Travelers Companies from $304.00 to $316.00 and gave the company an "outperform" rating in a report on Friday, July 18th. Morgan Stanley set a $269.00 price objective on Travelers Companies and gave the stock an "equal weight" rating in a report on Monday, May 19th. Finally, Citigroup reaffirmed a "market perform" rating on shares of Travelers Companies in a research note on Monday, July 21st. Two investment analysts have rated the stock with a sell rating, eleven have given a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $279.82.

Insider Buying and Selling

In other news, CFO Daniel S. Frey sold 20,286 shares of the company's stock in a transaction dated Thursday, May 29th. The shares were sold at an average price of $273.48, for a total transaction of $5,547,815.28. Following the completion of the transaction, the chief financial officer directly owned 26,932 shares of the company's stock, valued at approximately $7,365,363.36. This represents a 42.96% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Alan D. Schnitzer sold 35,456 shares of the firm's stock in a transaction dated Thursday, May 29th. The stock was sold at an average price of $273.78, for a total value of $9,707,143.68. Following the completion of the sale, the chief executive officer directly owned 262,329 shares in the company, valued at $71,820,433.62. The trade was a 11.91% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 175,374 shares of company stock valued at $47,929,912 over the last quarter. Company insiders own 1.46% of the company's stock.

Travelers Companies Price Performance

Shares of NYSE:TRV opened at $267.61 on Thursday. The company has a quick ratio of 0.33, a current ratio of 0.33 and a debt-to-equity ratio of 0.27. The stock has a market cap of $60.25 billion, a PE ratio of 11.84, a PEG ratio of 3.07 and a beta of 0.51. The company's fifty day moving average is $263.56 and its 200 day moving average is $258.23. The Travelers Companies, Inc. has a 52 week low of $208.63 and a 52 week high of $277.83.

Travelers Companies (NYSE:TRV - Get Free Report) last announced its quarterly earnings data on Thursday, July 17th. The insurance provider reported $6.51 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.52 by $2.99. Travelers Companies had a return on equity of 18.68% and a net margin of 10.97%. The firm had revenue of $11.54 billion for the quarter, compared to analysts' expectations of $11.02 billion. During the same period last year, the firm earned $2.51 earnings per share. The company's revenue for the quarter was up 7.4% compared to the same quarter last year. Research analysts anticipate that The Travelers Companies, Inc. will post 17.02 earnings per share for the current year.

Travelers Companies Dividend Announcement

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

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.

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