Prudential PLC Sells 20,621 Shares of The Travelers Companies, Inc. (NYSE:TRV)

Key Points

• Prudential PLC has reduced its stake in The Travelers Companies by 59.8%, now holding 13,869 shares valued at approximately $3.67 million.
• The Travelers Companies announced a quarterly dividend of $1.10 per share, representing an annualized dividend yield of 1.6%.
• Travelers reported impressive quarterly earnings of $6.51 EPS, significantly surpassing the consensus estimate of $3.52 and indicating a 7.4% revenue increase year-over-year.

Prudential PLC cut its holdings in shares of The Travelers Companies, Inc. (NYSE:TRV - Free Report) by 59.8% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 13,869 shares of the insurance provider's stock after selling 20,621 shares during the period. Prudential PLC's holdings in Travelers Companies were worth $3,668,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in TRV. Brighton Jones LLC increased its stake in shares of Travelers Companies by 13.4% during the fourth quarter. Brighton Jones LLC now owns 3,277 shares of the insurance provider's stock valued at $789,000 after buying an additional 387 shares during the period. Revolve Wealth Partners LLC purchased a new position in shares of Travelers Companies during the fourth quarter valued at approximately $276,000. Rockefeller Capital Management L.P. increased its stake in shares of Travelers Companies by 3.1% during the fourth quarter. Rockefeller Capital Management L.P. now owns 24,174 shares of the insurance provider's stock valued at $5,823,000 after buying an additional 735 shares during the period. Townsquare Capital LLC increased its stake in shares of Travelers Companies by 15.0% during the fourth quarter. Townsquare Capital LLC now owns 11,127 shares of the insurance provider's stock valued at $2,680,000 after buying an additional 1,451 shares during the period. Finally, Sagespring Wealth Partners LLC purchased a new position in shares of Travelers Companies during the fourth quarter valued at approximately $361,000. 82.45% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts recently weighed in on TRV shares. Keefe, Bruyette & Woods upped their price target on Travelers Companies from $304.00 to $316.00 and gave the stock an "outperform" rating in a research note on Friday, July 18th. Barclays cut Travelers Companies from an "overweight" rating to an "equal weight" rating and cut their target price for the stock from $280.00 to $274.00 in a research note on Monday, July 7th. Cantor Fitzgerald raised Travelers Companies to a "strong-buy" rating in a research note on Wednesday. Evercore ISI upped their price target on Travelers Companies from $288.00 to $296.00 and gave the company an "outperform" rating in a report on Thursday, April 17th. Finally, UBS Group upped their price target on Travelers Companies from $275.00 to $284.00 and gave the company a "neutral" rating in a report on Monday, July 21st. Two equities research analysts have rated the stock with a sell rating, eleven have given a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $284.56.

Travelers Companies Stock Performance

TRV traded down $3.02 during midday trading on Friday, reaching $265.57. The company had a trading volume of 1,295,665 shares, compared to its average volume of 1,253,062. 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 business has a 50-day moving average of $262.41 and a two-hundred day moving average of $259.29. The company has a market cap of $59.79 billion, a P/E ratio of 11.75, a P/E/G ratio of 3.08 and a beta of 0.51. The Travelers Companies, Inc. has a 1 year low of $215.39 and a 1 year high of $277.83.

Travelers Companies (NYSE:TRV - Get Free Report) last issued 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. Travelers Companies had a return on equity of 18.68% and a net margin of 10.97%. The business had revenue of $11.54 billion during the quarter, compared to analysts' expectations of $11.02 billion. During the same quarter in the prior year, the business posted $2.51 earnings per share. The business's quarterly revenue was up 7.4% on a year-over-year basis. As a group, equities research analysts predict that The Travelers Companies, Inc. will post 17.02 earnings per share for the current fiscal year.

Travelers Companies Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Wednesday, September 10th will be given a dividend of $1.10 per share. The ex-dividend date is Wednesday, September 10th. This represents a $4.40 annualized dividend and a dividend yield of 1.7%. Travelers Companies's dividend payout ratio (DPR) is currently 19.46%.

Insider Activity

In related news, CFO Daniel S. Frey sold 20,286 shares of the stock in a transaction dated Thursday, May 29th. The stock was sold at an average price of $273.48, for a total transaction of $5,547,815.28. Following the completion of the sale, the chief financial officer owned 26,932 shares in the company, valued at approximately $7,365,363.36. This trade represents a 42.96% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Vice Chairman William H. Heyman sold 2,000 shares of the firm's stock in a transaction that occurred 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 transaction, the insider owned 255,086 shares of the company's stock, valued at $70,021,107. This represents a 0.78% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 175,374 shares of company stock valued at $47,929,912 in the last three months. 1.46% of the stock is currently owned by insiders.

Travelers Companies 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.