Gabelli Funds LLC Reduces Stock Holdings in The Travelers Companies, Inc. $TRV

Key Points

• Gabelli Funds LLC has reduced its holdings in The Travelers Companies, Inc. (TRV) by 3.0%, now owning 64,500 shares worth approximately $17 million.
• Several institutional investors significantly increased their positions in TRV, with Cornerstone Planning Group LLC boosting its stake by 700% during the first quarter.
• The Travelers Companies announced a quarterly dividend of $1.10 per share, signifying a 1.6% dividend yield, with the payment date set for September 30th.

Gabelli Funds LLC trimmed its position in The Travelers Companies, Inc. (NYSE:TRV - Free Report) by 3.0% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 64,500 shares of the insurance provider's stock after selling 2,000 shares during the period. Gabelli Funds LLC's holdings in Travelers Companies were worth $17,058,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of TRV. Cornerstone Planning Group LLC lifted its position in shares of Travelers Companies by 700.0% during the 1st quarter. Cornerstone Planning Group LLC now owns 96 shares of the insurance provider's stock valued at $25,000 after buying an additional 84 shares in the last quarter. Greykasell Wealth Strategies Inc. purchased a new position in shares of Travelers Companies during the 1st quarter valued at about $26,000. Ameriflex Group Inc. purchased a new position in shares of Travelers Companies during the 4th quarter valued at about $26,000. Putney Financial Group LLC purchased a new position in shares of Travelers Companies during the 4th quarter valued at about $26,000. Finally, Capital Analysts LLC lifted its position in shares of Travelers Companies by 248.6% during the 1st quarter. Capital Analysts LLC now owns 122 shares of the insurance provider's stock valued at $33,000 after buying an additional 87 shares in the last quarter. 82.45% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on TRV shares. UBS Group lifted their price objective on Travelers Companies from $275.00 to $284.00 and gave the company a "neutral" rating in a research report on Monday, July 21st. Citigroup started coverage on Travelers Companies in a research report on Wednesday, August 13th. They set a "neutral" rating and a $291.00 price objective on the stock. Keefe, Bruyette & Woods lifted their price objective on Travelers Companies from $304.00 to $316.00 and gave the company an "outperform" rating in a research report on Friday, July 18th. Barclays cut Travelers Companies from an "overweight" rating to an "equal weight" rating and lowered their price target for the stock from $280.00 to $274.00 in a report on Monday, July 7th. Finally, Wall Street Zen cut Travelers Companies from a "buy" rating to a "hold" rating in a report on Saturday, August 9th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, ten have issued a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Hold" and an average price target of $284.56.

Insider Buying and Selling at Travelers Companies

In other news, Vice Chairman William H. Heyman sold 2,000 shares of the company's stock in a transaction that occurred on Thursday, May 29th. The stock was sold at an average price of $274.50, for a total transaction of $549,000.00. Following the sale, the insider directly owned 255,086 shares of the company's stock, valued at $70,021,107. This represents a 0.78% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Maria Olivo sold 36,199 shares of the company's stock in a transaction that occurred on Thursday, May 29th. The stock was sold at an average price of $274.20, for a total value of $9,925,765.80. Following the sale, the executive vice president directly owned 118,116 shares in the company, valued at $32,387,407.20. This trade represents a 23.46% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 175,374 shares of company stock worth $47,929,912. Company insiders own 1.46% of the company's stock.

Travelers Companies Stock Down 0.4%

NYSE TRV opened at $271.18 on Wednesday. The stock's 50 day moving average is $263.46 and its 200 day moving average is $260.61. The company has a current ratio of 0.33, a quick ratio of 0.33 and a debt-to-equity ratio of 0.27. The Travelers Companies, Inc. has a 12 month low of $222.21 and a 12 month high of $279.04. The stock has a market cap of $61.05 billion, a PE ratio of 11.99, a P/E/G ratio of 3.13 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, topping analysts' consensus estimates of $3.52 by $2.99. The company had revenue of $11.54 billion for the quarter, compared to analysts' expectations 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 was up 7.4% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.51 EPS. Research analysts predict that The Travelers Companies, Inc. will post 17.02 EPS for the current fiscal year.

Travelers Companies Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Wednesday, September 10th will be issued a dividend of $1.10 per share. 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 is 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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