Conning Inc. Sells 19,108 Shares of The Travelers Companies, Inc. $TRV

Key Points

• Conning Inc. reduced its Travelers stake by 15%, selling 19,108 shares in the third quarter and retaining 108,444 shares valued at approximately $38.7 million. Institutional investors collectively own 82.45% of the company.
• Analysts maintain a consensus “Hold” rating on TRV, with an average price target of $366.37. Recent targets range from $307 to $382, despite mixed ratings from Wall Street firms.
• Travelers reported quarterly earnings of $9.18 per share, surpassing estimates of $7.39, while revenue reached $12.41 billion. The company also declared a quarterly dividend of $1.25 per share, equivalent to a 1.3% annual yield.

Conning Inc. decreased its stake in shares of The Travelers Companies, Inc. (NYSE:TRV - Free Report) by 15.0% during the third quarter, according to its most recent filing with the SEC. The institutional investor owned 108,444 shares of the insurance provider's stock after selling 19,108 shares during the period. Travelers Companies accounts for 1.2% of Conning Inc.'s investment portfolio, making the stock its 23rd largest position. Conning Inc. owned about 0.05% of Travelers Companies worth $38,661,000 as of its most recent filing with the SEC.

Other institutional investors have also added to or reduced their stakes in the company. William Mack & Associates Inc. purchased a new stake in Travelers Companies in the 3rd quarter worth approximately $123,000. Asset Management One Co. Ltd. grew its position in shares of Travelers Companies by 4.5% during the 3rd quarter. Asset Management One Co. Ltd. now owns 194,775 shares of the insurance provider's stock valued at $69,439,000 after purchasing an additional 8,439 shares in the last quarter. Lynch Investment Planning LLC purchased a new position in shares of Travelers Companies during the 3rd quarter valued at $92,000. Latitude Advisors LLC purchased a new position in shares of Travelers Companies during the 3rd quarter valued at $28,000. Finally, Balance Wealth Partners LLC bought a new position in shares of Travelers Companies in the third quarter worth $76,000. Hedge funds and other institutional investors own 82.45% of the company's stock.

Wall Street Analyst Weigh In

TRV has been the subject of several recent analyst reports. Bank of America boosted their target price on Travelers Companies from $283.00 to $307.00 and gave the stock an "underperform" rating in a research report on Monday, July 20th. Barclays raised their price target on Travelers Companies from $295.00 to $318.00 and gave the company an "underweight" rating in a report on Tuesday, July 21st. Morgan Stanley lifted their price target on Travelers Companies from $330.00 to $350.00 and gave the company an "underweight" rating in a research report on Friday, October 23rd. Keefe, Bruyette & Woods boosted their price objective on Travelers Companies from $372.00 to $382.00 and gave the stock a "market perform" rating in a report on Tuesday, October 20th. Finally, Piper Sandler upped their price objective on shares of Travelers Companies to $340.00 and gave the stock an "overweight" rating in a research report on Monday, July 13th. Three analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating, thirteen have assigned a Hold rating and five have issued a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $366.37.

Insider Transactions at Travelers Companies

In other news, EVP Mojgan Lefebvre sold 11,000 shares of the stock in a transaction dated Tuesday, October 27th. The stock was sold at an average price of $393.84, for a total transaction of $4,332,240.00. Following the transaction, the executive vice president directly owned 11,000 shares in the company, valued at approximately $4,332,240. This represents a 50.00% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Maria Olivo sold 15,100 shares of the stock in a transaction dated Wednesday, October 21st. The shares were sold at an average price of $398.44, for a total value of $6,016,444.00. Following the transaction, the executive vice president owned 103,642 shares in the company, valued at $41,295,118.48. This trade represents a 12.72% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 177,287 shares of company stock worth $70,515,000. Company insiders own 1.39% of the company's stock.

Travelers Companies Stock Performance

Travelers Companies stock opened at $393.54 on Thursday. The Travelers Companies, Inc. has a fifty-two week low of $264.25 and a fifty-two week high of $407.86. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.33 and a current ratio of 0.33. The stock has a market cap of $80.66 billion, a P/E ratio of 10.32, a price-to-earnings-growth ratio of 2.78 and a beta of 0.43. The firm's fifty day moving average price is $373.17 and its 200-day moving average price is $328.37.

Travelers Companies (NYSE:TRV - Get Free Report) last announced its earnings results on Friday, October 16th. The insurance provider reported $9.18 earnings per share (EPS) for the quarter, topping the consensus estimate of $7.39 by $1.79. Travelers Companies had a net margin of 17.03% and a return on equity of 26.19%. The company had revenue of $12.41 billion during the quarter, compared to analyst estimates of $11.36 billion. During the same period in the previous year, the business earned $8.14 earnings per share. The firm's quarterly revenue was down .5% compared to the same quarter last year. On average, equities research analysts expect that The Travelers Companies, Inc. will post 36.08 earnings per share for the current fiscal year.

Travelers Companies Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 31st. Stockholders of record on Thursday, December 10th will be issued a $1.25 dividend. This represents a $5.00 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date is Thursday, December 10th. Travelers Companies's dividend payout ratio is presently 13.11%.

About Travelers Companies

Travelers Companies, Inc is a property and casualty insurance company that provides insurance products and related services to businesses, government entities and individuals. The company offers coverage for property damage, liability, workers' compensation, automobile accidents, cybersecurity risks and other exposures.

Travelers conducts its operations primarily through its Business Insurance, Bond & Specialty Insurance and Personal Insurance segments. Its products include commercial property and casualty policies, surety and fidelity bonds, homeowners insurance, personal automobile insurance and umbrella coverage.

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