Forsta AP Fonden Cuts Stock Position in The Travelers Companies, Inc. (NYSE:TRV)

Key Points

• Forsta AP Fonden has reduced its holdings in The Travelers Companies (NYSE:TRV) by 12.9%, owning 41,800 shares valued at $11.05 million after selling 6,200 shares in the first quarter.
• Recent insider trading includes EVP Jeffrey P. Klenk selling 15,180 shares and EVP Maria Olivo selling 36,199 shares, representing significant decreases in their ownership of the stock.
• Travelers Companies reported strong earnings of $6.51 EPS in the last quarter, surpassing expectations, with revenues increasing by 7.4% year-over-year.

Forsta AP Fonden lessened its position in The Travelers Companies, Inc. (NYSE:TRV - Free Report) by 12.9% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 41,800 shares of the insurance provider's stock after selling 6,200 shares during the period. Forsta AP Fonden's holdings in Travelers Companies were worth $11,054,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Cornerstone Planning Group LLC boosted its position in shares of Travelers Companies by 700.0% during the first 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 purchased a new position in shares of Travelers Companies during the fourth quarter valued at approximately $26,000. Ameriflex Group Inc. purchased a new position in shares of Travelers Companies during the fourth quarter valued at approximately $26,000. Greykasell Wealth Strategies Inc. purchased a new position in shares of Travelers Companies during the first quarter valued at approximately $26,000. Finally, Kapitalo Investimentos Ltda purchased a new position in shares of Travelers Companies during the fourth quarter valued at approximately $30,000. Institutional investors and hedge funds own 82.45% of the company's stock.

Insiders Place Their Bets

In other Travelers Companies news, insider Avrohom J. Kess sold 23,434 shares of the company's stock in a transaction dated Thursday, May 29th. The stock was sold at an average price of $273.93, for a total value of $6,419,275.62. Following the transaction, the insider directly owned 48,387 shares in the company, valued at $13,254,650.91. This represents a 32.63% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Alan D. Schnitzer sold 35,456 shares of the company's stock in a transaction dated Thursday, May 29th. The stock was sold at an average price of $273.78, for a total value of $9,707,143.68. Following the completion of the transaction, the chief executive officer owned 262,329 shares in the company, valued at $71,820,433.62. This represents a 11.91% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 175,374 shares of company stock worth $47,929,912. 1.46% of the stock is owned by corporate insiders.

Travelers Companies Stock Performance

Shares of NYSE:TRV traded down $1.05 during midday trading on Thursday, reaching $268.25. 712,982 shares of the company traded hands, compared to its average volume of 1,332,495. 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 Travelers Companies, Inc. has a 12 month low of $214.61 and a 12 month high of $277.83. The firm has a market capitalization of $60.39 billion, a price-to-earnings ratio of 11.88, a price-to-earnings-growth ratio of 3.02 and a beta of 0.51. The firm's fifty day moving average price is $262.63 and its two-hundred day moving average price is $259.05.

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 company had revenue of $11.54 billion for the quarter, compared to analyst estimates of $11.02 billion. Travelers Companies had a return on equity of 18.68% and a net margin of 10.97%. The firm's revenue for the quarter was up 7.4% compared to the same quarter last year. During the same period in the previous year, the company posted $2.51 EPS. On average, equities analysts expect that The Travelers Companies, Inc. will post 17.02 earnings per share for the current year.

Travelers Companies Announces Dividend

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

Wall Street Analyst Weigh In

Several brokerages recently issued reports on TRV. Cantor Fitzgerald raised Travelers Companies to a "strong-buy" rating in a research report on Wednesday. Keefe, Bruyette & Woods boosted their price objective on Travelers Companies from $304.00 to $316.00 and gave the stock an "outperform" rating in a research report on Friday, July 18th. Barclays cut Travelers Companies from an "overweight" rating to an "equal weight" rating and cut their price objective for the stock from $280.00 to $274.00 in a research report on Monday, July 7th. Morgan Stanley set a $269.00 price objective on Travelers Companies and gave the stock an "equal weight" rating in a research report on Monday, May 19th. Finally, Citigroup began coverage on Travelers Companies in a research report on Wednesday. They issued a "neutral" rating and a $291.00 price objective on the stock. Two research analysts have rated the stock with a sell rating, eleven have given a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $284.56.

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.