Azimuth Capital Investment Management LLC Sells 1,065 Shares of The Travelers Companies, Inc. $TRV

Key Points

• Azimuth Capital Investment Management LLC has reduced its stake in The Travelers Companies by 9.5%, now holding 10,139 shares valued at approximately $2.68 million.
• Insiders have sold a total of 175,374 shares recently, leading to a 32.63% decrease in ownership for insider Avrohom J. Kess, who still holds shares valued at around $13.25 million.
• Travelers Companies reported $6.51 earnings per share for the last quarter, surpassing estimates, with a revenue of $11.54 billion, indicating a 7.4% year-over-year increase.

Azimuth Capital Investment Management LLC decreased its position in shares of The Travelers Companies, Inc. (NYSE:TRV - Free Report) by 9.5% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 10,139 shares of the insurance provider's stock after selling 1,065 shares during the quarter. Azimuth Capital Investment Management LLC's holdings in Travelers Companies were worth $2,681,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Brighton Jones LLC grew its position in shares of Travelers Companies by 13.4% during the 4th quarter. Brighton Jones LLC now owns 3,277 shares of the insurance provider's stock worth $789,000 after buying an additional 387 shares during the period. Revolve Wealth Partners LLC purchased a new position in Travelers Companies during the 4th quarter worth $276,000. Rockefeller Capital Management L.P. boosted its holdings in Travelers Companies by 3.1% during the 4th quarter. Rockefeller Capital Management L.P. now owns 24,174 shares of the insurance provider's stock worth $5,823,000 after acquiring an additional 735 shares during the last quarter. Mariner LLC raised its stake in shares of Travelers Companies by 19.3% during the 4th quarter. Mariner LLC now owns 58,442 shares of the insurance provider's stock worth $14,078,000 after purchasing an additional 9,465 shares during the period. Finally, NewEdge Advisors LLC raised its stake in shares of Travelers Companies by 9.4% during the 4th quarter. NewEdge Advisors LLC now owns 31,577 shares of the insurance provider's stock worth $7,607,000 after purchasing an additional 2,710 shares during the period. Institutional investors own 82.45% of the company's stock.

Travelers Companies Stock Performance

Shares of Travelers Companies stock traded up $1.2550 during trading on Thursday, hitting $275.6450. 296,744 shares of the company's stock traded hands, compared to its average volume of 1,328,641. 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 1 year low of $216.18 and a 1 year high of $277.83. The stock has a market capitalization of $62.06 billion, a P/E ratio of 12.19, a PEG ratio of 3.09 and a beta of 0.51. The business has a 50-day simple moving average of $262.74 and a 200-day simple moving average of $259.73.

Travelers Companies (NYSE:TRV - Get Free Report) last released its quarterly earnings data on Thursday, July 17th. The insurance provider reported $6.51 EPS for the quarter, beating the consensus estimate of $3.52 by $2.99. Travelers Companies had a return on equity of 18.68% and a net margin of 10.97%.The company had revenue of $11.54 billion for the quarter, compared to analysts' expectations of $11.02 billion. During the same period last year, the firm posted $2.51 earnings per share. Travelers Companies's revenue was up 7.4% compared to the same quarter last year. As a group, analysts forecast that The Travelers Companies, Inc. will post 17.02 EPS for the current year.

Travelers Companies Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Wednesday, September 10th will be issued a $1.10 dividend. The ex-dividend date of this dividend is Wednesday, September 10th. This represents a $4.40 dividend on an annualized basis and a yield of 1.6%. Travelers Companies's dividend payout ratio is currently 19.46%.

Insider Buying and Selling

In other Travelers Companies 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 value of $5,547,815.28. Following the transaction, the chief financial officer owned 26,932 shares of the company's stock, valued at approximately $7,365,363.36. This represents a 42.96% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Maria Olivo sold 36,199 shares of the stock in a transaction dated Thursday, May 29th. The shares were sold at an average price of $274.20, for a total value of $9,925,765.80. Following the completion of the transaction, the executive vice president directly owned 118,116 shares in the company, valued at approximately $32,387,407.20. This represents a 23.46% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 175,374 shares of company stock valued at $47,929,912 in the last 90 days. Insiders own 1.46% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on TRV. Barclays cut Travelers Companies from an "overweight" rating to an "equal weight" rating and lowered their price objective for the company 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 report on Wednesday, August 13th. Wells Fargo & Company boosted their price objective on Travelers Companies from $264.00 to $275.00 and gave the stock an "equal weight" rating in a report on Friday, July 18th. Keefe, Bruyette & Woods upped their target price on Travelers Companies from $304.00 to $316.00 and gave the stock an "outperform" rating in a research note on Friday, July 18th. Finally, UBS Group upped their target price on Travelers Companies from $275.00 to $284.00 and gave the stock a "neutral" rating in a research note on Monday, July 21st. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, ten have given a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $284.56.

About Travelers Companies

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.