Pictet Asset Management Holding SA Sells 21,165 Shares of The Travelers Companies, Inc. $TRV

Key Points

• Pictet Asset Management Holding SA cut its Travelers Companies stake by 13.4% in the first quarter, selling 21,165 shares and leaving it with 136,938 shares valued at about $39.9 million.
• Travelers reported better-than-expected quarterly results, with EPS of $7.71 versus $6.80 expected and revenue of $11.92 billion versus $11.11 billion forecast.
• The company also raised its quarterly dividend to $1.25 from $1.10, while analysts currently rate the stock a consensus “Hold” with a target price of $309.07.

Pictet Asset Management Holding SA reduced its position in The Travelers Companies, Inc. (NYSE:TRV - Free Report) by 13.4% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 136,938 shares of the insurance provider's stock after selling 21,165 shares during the period. Pictet Asset Management Holding SA owned about 0.06% of Travelers Companies worth $39,942,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in TRV. HHM Wealth Advisors LLC raised its stake in shares of Travelers Companies by 145.7% in the first quarter. HHM Wealth Advisors LLC now owns 86 shares of the insurance provider's stock worth $25,000 after purchasing an additional 51 shares during the last quarter. Kemnay Advisory Services Inc. purchased a new stake in shares of Travelers Companies during the fourth quarter valued at $26,000. Osterweis Capital Management Inc. increased its holdings in Travelers Companies by 1,820.0% in the 2nd quarter. Osterweis Capital Management Inc. now owns 96 shares of the insurance provider's stock worth $26,000 after buying an additional 91 shares in the last quarter. Kohmann Bosshard Financial Services LLC bought a new stake in Travelers Companies in the 4th quarter worth about $28,000. Finally, Entrust Financial LLC purchased a new position in Travelers Companies in the 4th quarter worth about $31,000. 82.45% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Travelers Companies

In related news, EVP Jeffrey P. Klenk sold 6,414 shares of the firm's stock in a transaction on Monday, April 20th. The stock was sold at an average price of $305.06, for a total value of $1,956,654.84. Following the transaction, the executive vice president directly owned 6,075 shares of the company's stock, valued at approximately $1,853,239.50. This trade represents a 51.36% 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 Diane Kurtzman sold 2,867 shares of Travelers Companies stock in a transaction on Monday, April 20th. The shares were sold at an average price of $303.45, for a total value of $869,991.15. Following the transaction, the executive vice president owned 5,298 shares in the company, valued at $1,607,678.10. This trade represents a 35.11% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 37,573 shares of company stock worth $11,504,146. Insiders own 1.39% of the company's stock.

Travelers Companies Trading Down 0.4%

Travelers Companies stock opened at $330.48 on Wednesday. The business has a 50-day simple moving average of $304.48 and a two-hundred day simple moving average of $297.02. The company has a market cap of $70.28 billion, a P/E ratio of 9.83, a P/E/G ratio of 2.99 and a beta of 0.48. The Travelers Companies, Inc. has a 52-week low of $249.19 and a 52-week high of $334.14. The company has a quick ratio of 0.35, a current ratio of 0.35 and a debt-to-equity ratio of 0.29.

Travelers Companies (NYSE:TRV - Get Free Report) last issued its quarterly earnings data on Thursday, April 16th. The insurance provider reported $7.71 earnings per share for the quarter, topping the consensus estimate of $6.80 by $0.91. The firm had revenue of $11.92 billion for the quarter, compared to analysts' expectations of $11.11 billion. Travelers Companies had a net margin of 15.54% and a return on equity of 24.06%. The business's quarterly revenue was down 1.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.91 EPS. Analysts predict that The Travelers Companies, Inc. will post 28 EPS for the current year.

Travelers Companies Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Wednesday, June 10th were given a $1.25 dividend. The ex-dividend date was Wednesday, June 10th. This is a boost from Travelers Companies's previous quarterly dividend of $1.10. This represents a $5.00 annualized dividend and a yield of 1.5%. Travelers Companies's payout ratio is 14.88%.

Analyst Ratings Changes

TRV has been the topic of several research analyst reports. Weiss Ratings restated a "buy (a-)" rating on shares of Travelers Companies in a research note on Friday, May 8th. Keefe, Bruyette & Woods boosted their price objective on shares of Travelers Companies from $340.00 to $342.00 and gave the company an "outperform" rating in a report on Monday, April 20th. Evercore restated an "outperform" rating on shares of Travelers Companies in a research report on Friday, April 17th. Brean Capital began coverage on shares of Travelers Companies in a report on Thursday, March 12th. They issued a "neutral" rating on the stock. Finally, Roth Mkm reaffirmed a "buy" rating on shares of Travelers Companies in a research report on Monday, April 20th. Two equities research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating, ten have assigned a Hold rating and three have issued a Sell rating to the company. According to MarketBeat, Travelers Companies currently has an average rating of "Hold" and a consensus target price of $309.07.

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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