TD Asset Management Inc Decreases Holdings in The Travelers Companies, Inc. (NYSE:TRV)

Key Points

• TD Asset Management Inc has reduced its stake in The Travelers Companies, Inc. by 10.4% during the first quarter, now owning 260,391 shares valued at approximately $68.9 million.
• Insider transactions included EVP Jeffrey P. Klenk selling 15,180 shares and CEO Alan D. Schnitzer selling 35,456 shares, resulting in significant decreases in their ownership percentages.
• The Travelers Companies announced a quarterly dividend of $1.10 per share, with a yield of 1.69%, payable on September 30th to investors of record on September 10th.

TD Asset Management Inc trimmed its holdings in shares of The Travelers Companies, Inc. (NYSE:TRV - Free Report) by 10.4% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 260,391 shares of the insurance provider's stock after selling 30,112 shares during the period. TD Asset Management Inc owned approximately 0.11% of Travelers Companies worth $68,863,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the business. Cornerstone Planning Group LLC raised its holdings in Travelers Companies by 700.0% in the 1st quarter. Cornerstone Planning Group LLC now owns 96 shares of the insurance provider's stock worth $25,000 after acquiring an additional 84 shares during the last quarter. Putney Financial Group LLC purchased a new position in Travelers Companies in the 4th quarter worth approximately $26,000. Ameriflex Group Inc. purchased a new position in Travelers Companies in the 4th quarter worth approximately $26,000. Kapitalo Investimentos Ltda purchased a new position in Travelers Companies in the 4th quarter worth approximately $30,000. Finally, Wood Tarver Financial Group LLC purchased a new position in Travelers Companies in the 4th quarter worth approximately $33,000. 82.45% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Travelers Companies

In other Travelers Companies news, EVP Jeffrey P. Klenk sold 15,180 shares of the stock in a transaction dated Thursday, May 29th. The shares were sold at an average price of $272.87, for a total transaction of $4,142,166.60. Following the completion of the transaction, the executive vice president owned 6,075 shares of the company's stock, valued at $1,657,685.25. This represents a 71.42% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Avrohom J. Kess sold 23,434 shares of the stock in a transaction dated Thursday, May 29th. The shares were sold at an average price of $273.93, for a total transaction of $6,419,275.62. Following the transaction, the insider directly owned 48,387 shares of the company's stock, valued at $13,254,650.91. This trade represents a 32.63% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 175,374 shares of company stock worth $47,929,912. Insiders own 1.46% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. 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 report on Friday, July 18th. Wall Street Zen upgraded shares of Travelers Companies from a "hold" rating to a "buy" rating in a research note on Friday, July 18th. Citigroup reiterated a "market perform" rating on shares of Travelers Companies in a research note on Monday, July 21st. UBS Group boosted their target price on shares of Travelers Companies from $275.00 to $284.00 and gave the company a "neutral" rating in a research note on Monday, July 21st. Finally, JPMorgan Chase & Co. boosted their target price on shares of Travelers Companies from $260.00 to $271.00 and gave the company an "underweight" rating in a research note on Tuesday, April 8th. Two equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and seven have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $279.82.

Travelers Companies Price Performance

Travelers Companies stock traded up $3.33 during mid-day trading on Thursday, hitting $262.25. The stock had a trading volume of 429,319 shares, compared to its average volume of 1,342,839. The firm has a market capitalization of $59.04 billion, a P/E ratio of 11.60, a P/E/G ratio of 3.04 and a beta of 0.51. The company has a current ratio of 0.33, a quick ratio of 0.33 and a debt-to-equity ratio of 0.27. The firm's 50 day moving average is $264.54 and its 200 day moving average is $257.39. The Travelers Companies, Inc. has a one year low of $206.43 and a one year high of $277.83.

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

Travelers Companies Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Wednesday, September 10th will be issued a dividend of $1.10 per share. This represents a $4.40 annualized dividend and a dividend yield of 1.68%. The ex-dividend date is Wednesday, September 10th. Travelers Companies's dividend payout ratio (DPR) is presently 19.46%.

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.