Cresset Asset Management LLC Decreases Stock Holdings in The Travelers Companies, Inc. $TRV

Key Points

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Cresset Asset Management LLC decreased its position in shares of The Travelers Companies, Inc. (NYSE:TRV - Free Report) by 6.5% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 19,303 shares of the insurance provider's stock after selling 1,339 shares during the period. Cresset Asset Management LLC's holdings in Travelers Companies were worth $5,105,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Cornerstone Planning Group LLC raised its position in Travelers Companies by 700.0% during the first quarter. Cornerstone Planning Group LLC now owns 96 shares of the insurance provider's stock valued at $25,000 after purchasing an additional 84 shares in the last quarter. Greykasell Wealth Strategies Inc. purchased a new position in shares of Travelers Companies in the 1st quarter worth about $26,000. Ameriflex Group Inc. purchased a new position in shares of Travelers Companies in the 4th quarter worth about $26,000. Putney Financial Group LLC purchased a new position in shares of Travelers Companies in the 4th quarter worth about $26,000. Finally, Kapitalo Investimentos Ltda purchased a new stake in shares of Travelers Companies during the fourth quarter valued at $30,000. Hedge funds and other institutional investors own 82.45% of the company's stock.

Wall Street Analysts Forecast Growth

TRV has been the topic of several recent analyst reports. Morgan Stanley set a $269.00 price objective on Travelers Companies and gave the company an "equal weight" rating in a research report on Monday, May 19th. Keefe, Bruyette & Woods lifted their target price on Travelers Companies from $304.00 to $316.00 and gave the company an "outperform" rating in a research report on Friday, July 18th. UBS Group upped their price target on Travelers Companies from $275.00 to $284.00 and gave the stock a "neutral" rating in a research report on Monday, July 21st. Cantor Fitzgerald upgraded Travelers Companies to a "strong-buy" rating in a research report on Wednesday, August 13th. Finally, Citigroup assumed coverage on Travelers Companies in a research report on Wednesday, August 13th. They issued a "neutral" rating and a $291.00 price target for the company. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, ten have issued a Hold rating and two have issued a Sell rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $284.56.

Travelers Companies Price Performance

TRV stock traded up $1.4190 during mid-day trading on Friday, hitting $276.3390. The company had a trading volume of 1,457,579 shares, compared to its average volume of 1,335,443. The company has a market capitalization of $62.21 billion, a price-to-earnings ratio of 12.22, a P/E/G ratio of 3.15 and a beta of 0.51. The Travelers Companies, Inc. has a 12-month low of $218.57 and a 12-month high of $279.04. 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 company has a 50-day moving average price of $262.92 and a 200 day moving average price of $259.94.

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

Travelers Companies Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Wednesday, September 10th will be paid a $1.10 dividend. This represents a $4.40 dividend on an annualized basis 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 presently 19.46%.

Insiders Place Their Bets

In other news, Vice Chairman William H. Heyman sold 2,000 shares of the stock in a transaction on Thursday, May 29th. The shares were sold at an average price of $274.50, for a total value of $549,000.00. Following the sale, the insider owned 255,086 shares of the company's stock, valued at approximately $70,021,107. This represents a 0.78% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Gregory C. Toczydlowski sold 11,505 shares of the stock in a transaction on Monday, July 21st. The shares were sold at an average price of $266.12, for a total transaction of $3,061,710.60. Following the completion of the sale, the executive vice president directly owned 18,416 shares in the company, valued at approximately $4,900,865.92. This represents a 38.45% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 175,374 shares of company stock valued at $47,929,912. 1.46% of the stock is currently owned by company insiders.

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.