Te Ahumairangi Investment Management Ltd Sells 1,510 Shares of The Travelers Companies, Inc. $TRV

Key Points

• Te Ahumairangi Investment Management Ltd has reduced its stake in The Travelers Companies by 5.8%, now owning 24,736 shares, worth approximately $6.54 million.
• Travelers Companies recently announced a $1.10 quarterly dividend, yielding about 1.6%, with a dividend payout ratio of 19.46%.
• Analysts have set a consensus target price of $284.56 for Travelers stock, with ratings indicating a mix of Buy, Hold, and Sell recommendations.

Te Ahumairangi Investment Management Ltd decreased its stake in The Travelers Companies, Inc. (NYSE:TRV - Free Report) by 5.8% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 24,736 shares of the insurance provider's stock after selling 1,510 shares during the quarter. Travelers Companies makes up about 1.4% of Te Ahumairangi Investment Management Ltd's holdings, making the stock its 20th biggest position. Te Ahumairangi Investment Management Ltd's holdings in Travelers Companies were worth $6,542,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Cornerstone Planning Group LLC lifted its holdings 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 during the last quarter. Putney Financial Group LLC acquired a new stake in shares of Travelers Companies during the 4th quarter valued at about $26,000. Ameriflex Group Inc. acquired a new stake in shares of Travelers Companies during the 4th quarter valued at about $26,000. Greykasell Wealth Strategies Inc. acquired a new stake in shares of Travelers Companies during the 1st quarter valued at about $26,000. Finally, Kapitalo Investimentos Ltda acquired a new stake in shares of Travelers Companies during the 4th quarter valued at about $30,000. Hedge funds and other institutional investors own 82.45% of the company's stock.

Insider Buying and Selling

In other news, EVP Gregory C. Toczydlowski sold 11,505 shares of the business's stock in a transaction that occurred on Monday, July 21st. The stock was sold at an average price of $266.12, for a total transaction of $3,061,710.60. Following the sale, the executive vice president directly owned 18,416 shares in the company, valued at approximately $4,900,865.92. The trade was a 38.45% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Mojgan M. Lefebvre sold 16,820 shares of the company's stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $277.54, for a total value of $4,668,222.80. The disclosure for this sale can be found here. Insiders own 1.46% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the company. UBS Group lifted 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. Cantor Fitzgerald raised Travelers Companies to a "strong-buy" rating in a research note on Wednesday, August 13th. Morgan Stanley set a $269.00 target price on Travelers Companies and gave the stock an "equal weight" rating in a research report on Monday, May 19th. Barclays downgraded Travelers Companies from an "overweight" rating to an "equal weight" rating and lowered their price target for the company from $280.00 to $274.00 in a report on Monday, July 7th. Finally, Keefe, Bruyette & Woods boosted their price objective on shares of Travelers Companies from $304.00 to $316.00 and gave the stock an "outperform" rating in a research note on Friday, July 18th. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, ten have given a Hold rating and two have given a Sell rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $284.56.

Travelers Companies Stock Performance

Shares of TRV traded up $1.34 on Monday, reaching $271.62. 681,010 shares of the stock traded hands, compared to its average volume of 1,165,158. The firm has a market cap of $61.15 billion, a price-to-earnings ratio of 12.01, a P/E/G ratio of 3.12 and a beta of 0.53. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.33 and a quick ratio of 0.33. The Travelers Companies, Inc. has a 12 month low of $222.21 and a 12 month high of $279.04. The stock's 50-day moving average price is $263.85 and its 200-day moving average price is $261.35.

Travelers Companies (NYSE:TRV - Get Free Report) last released its quarterly earnings data on Thursday, July 17th. The insurance provider reported $6.51 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 return on equity of 18.68% and a net margin of 10.97%.Travelers Companies's quarterly revenue was up 7.4% on a year-over-year basis. During the same period in the previous year, the business posted $2.51 earnings per share. Equities analysts forecast that The Travelers Companies, Inc. will post 17.02 EPS for the current fiscal year.

Travelers Companies Announces Dividend

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 given a dividend of $1.10 per share. The ex-dividend date is Wednesday, September 10th. This represents a $4.40 dividend on an annualized basis and a dividend yield of 1.6%. Travelers Companies's payout ratio is currently 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.