Hennessy Advisors Inc. Sells 27,400 Shares of The Travelers Companies, Inc. $TRV

Key Points

• Hennessy Advisors cut its Travelers stake by 74.3% in the second quarter, selling 27,400 shares and retaining 9,500 shares valued at approximately $3.14 million. Institutional investors collectively own 82.45% of TRV.
• Travelers insiders sold 52,667 shares worth roughly $19.6 million over the past 90 days, including significant sales by the CFO and an executive vice president.
• Travelers reported quarterly EPS of $10.04, well above the $5.41 consensus estimate, and announced a $1.25 quarterly dividend. Analysts maintain a consensus “Hold” rating with an average price target of $354.26.

Hennessy Advisors Inc. trimmed its stake in The Travelers Companies, Inc. (NYSE:TRV - Free Report) by 74.3% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,500 shares of the insurance provider's stock after selling 27,400 shares during the period. Hennessy Advisors Inc.'s holdings in Travelers Companies were worth $3,136,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of TRV. Berman McAleer LLC grew its holdings in Travelers Companies by 3.5% during the second quarter. Berman McAleer LLC now owns 894 shares of the insurance provider's stock valued at $295,000 after purchasing an additional 30 shares during the period. Willner & Heller LLC raised its stake in shares of Travelers Companies by 2.7% in the second quarter. Willner & Heller LLC now owns 1,206 shares of the insurance provider's stock worth $398,000 after buying an additional 32 shares during the period. Spinnaker Trust raised its stake in shares of Travelers Companies by 1.7% in the first quarter. Spinnaker Trust now owns 1,938 shares of the insurance provider's stock worth $565,000 after buying an additional 33 shares during the period. Cim LLC lifted its position in shares of Travelers Companies by 0.4% during the 4th quarter. Cim LLC now owns 8,145 shares of the insurance provider's stock valued at $2,363,000 after buying an additional 34 shares in the last quarter. Finally, Avalon Trust Co lifted its position in shares of Travelers Companies by 0.4% during the 1st quarter. Avalon Trust Co now owns 8,784 shares of the insurance provider's stock valued at $2,562,000 after buying an additional 35 shares in the last quarter. 82.45% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, CFO Daniel S. Frey sold 14,037 shares of the stock in a transaction that occurred on Tuesday, July 21st. The stock was sold at an average price of $368.24, for a total transaction of $5,168,984.88. Following the completion of the transaction, the chief financial officer directly owned 27,535 shares of the company's stock, valued at approximately $10,139,488.40. This represents a 33.77% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Michael Frederick Klein sold 6,000 shares of the stock in a transaction that occurred on Tuesday, July 21st. The shares were sold at an average price of $366.09, for a total value of $2,196,540.00. Following the transaction, the executive vice president owned 45,125 shares of the company's stock, valued at $16,519,811.25. This represents a 11.74% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 52,667 shares of company stock worth $19,611,829 in the last 90 days. 1.39% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the stock. BMO Capital Markets lowered shares of Travelers Companies from an "outperform" rating to a "market perform" rating and increased their target price for the stock from $314.00 to $379.00 in a report on Tuesday, July 21st. UBS Group upped their price target on shares of Travelers Companies from $314.00 to $350.00 and gave the stock a "neutral" rating in a research report on Wednesday, July 8th. Raymond James Financial set a $430.00 price objective on shares of Travelers Companies in a research note on Monday, July 20th. Mizuho lifted their target price on shares of Travelers Companies from $324.00 to $343.00 and gave the company a "neutral" rating in a research note on Friday, July 24th. Finally, Weiss Ratings raised shares of Travelers Companies from a "buy (a-)" rating to a "buy (a)" rating in a report on Thursday, August 20th. Four investment analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating, thirteen have assigned a Hold rating and five have assigned a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of "Hold" and an average target price of $354.26.

Travelers Companies Stock Down 0.0%

NYSE TRV opened at $369.85 on Monday. The Travelers Companies, Inc. has a 12 month low of $252.26 and a 12 month high of $398.70. 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 stock has a market cap of $77.14 billion, a PE ratio of 9.90, a P/E/G ratio of 3.52 and a beta of 0.45. The stock's 50 day moving average is $358.56 and its 200 day moving average is $320.97.

Travelers Companies (NYSE:TRV - Get Free Report) last announced its quarterly earnings data on Friday, July 17th. The insurance provider reported $10.04 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $5.41 by $4.63. The business had revenue of $12.15 billion during the quarter, compared to analyst estimates of $11.26 billion. Travelers Companies had a net margin of 16.95% and a return on equity of 25.41%. The company's revenue was up .3% on a year-over-year basis. During the same period last year, the firm posted $6.51 EPS. Research analysts predict that The Travelers Companies, Inc. will post 33.82 EPS for the current fiscal year.

Travelers Companies Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Thursday, September 10th will be paid a dividend of $1.25 per share. This represents a $5.00 annualized dividend and a yield of 1.4%. The ex-dividend date of this dividend is Thursday, September 10th. Travelers Companies's dividend payout ratio (DPR) is presently 13.39%.

Travelers Companies Profile

The Travelers Companies, Inc NYSE: TRV is a leading provider of property and casualty insurance products and services. The company underwrites a broad range of commercial and personal insurance lines, offering coverage designed to protect individuals, small and midsize businesses, and large corporate clients against property loss, liability, and other operational risks. Travelers is known for combining underwriting, claims management and risk control services to help clients prevent losses and recover when incidents occur.

On the commercial side, Travelers writes primary and specialty coverages including property, general liability, commercial auto, workers' compensation, professional and management liability, surety and inland marine.

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