APG Asset Management N.V. Sells 7,300 Shares of The Travelers Companies, Inc. $TRV

Key Points

• APG Asset Management N.V. reduced its stake in The Travelers Companies by 4.1%, owning 171,461 shares worth approximately $41.98 million after selling 7,300 shares in the first quarter.
• Insider selling included EVP Maria Olivo's sale of 36,199 shares totaling nearly $9.93 million, reducing her ownership by 23.46%, while insider Avrohom Kess sold 23,434 shares worth about $6.42 million.
• Travelers Companies announced a quarterly dividend of $1.10 per share, with an annual yield of 1.6%, to be paid on September 30th to stockholders of record on September 10th.

APG Asset Management N.V. decreased its holdings in The Travelers Companies, Inc. (NYSE:TRV - Free Report) by 4.1% during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 171,461 shares of the insurance provider's stock after selling 7,300 shares during the quarter. APG Asset Management N.V. owned 0.08% of Travelers Companies worth $41,978,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in TRV. Brighton Jones LLC raised its holdings in shares of Travelers Companies by 13.4% in the 4th quarter. Brighton Jones LLC now owns 3,277 shares of the insurance provider's stock worth $789,000 after purchasing an additional 387 shares during the period. Revolve Wealth Partners LLC purchased a new position in shares of Travelers Companies during the 4th quarter valued at $276,000. MML Investors Services LLC grew its position in shares of Travelers Companies by 6.2% during the 4th quarter. MML Investors Services LLC now owns 21,849 shares of the insurance provider's stock valued at $5,263,000 after purchasing an additional 1,284 shares in the last quarter. Adage Capital Partners GP L.L.C. purchased a new position in shares of Travelers Companies during the 4th quarter valued at $28,934,000. Finally, Integrated Wealth Concepts LLC grew its position in shares of Travelers Companies by 4.1% during the 4th quarter. Integrated Wealth Concepts LLC now owns 6,810 shares of the insurance provider's stock valued at $1,641,000 after purchasing an additional 266 shares in the last quarter. Institutional investors own 82.45% of the company's stock.

Insider Activity

In other news, EVP Jeffrey P. Klenk sold 15,180 shares of the company's 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 directly owned 6,075 shares of the company's stock, valued at approximately $1,657,685.25. This represents a 71.42% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Avrohom J. Kess sold 23,434 shares of the company's 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 approximately $13,254,650.91. This trade represents a 32.63% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 175,374 shares of company stock valued at $47,929,912. 1.46% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on TRV shares. Barclays lowered shares of Travelers Companies from an "overweight" rating to an "equal weight" rating and reduced their price target for the company from $280.00 to $274.00 in a research report on Monday, July 7th. Wells Fargo & Company upped their target price on shares of Travelers Companies from $264.00 to $275.00 and gave the stock an "equal weight" rating in a research report on Friday, July 18th. Citigroup initiated coverage on shares of Travelers Companies in a research report on Wednesday, August 13th. They issued a "neutral" rating and a $291.00 target price for the company. Morgan Stanley set a $269.00 price target on shares of Travelers Companies and gave the stock an "equal weight" rating in a research note on Monday, May 19th. Finally, Wall Street Zen downgraded shares of Travelers Companies from a "buy" rating to a "hold" rating in a research note on Saturday, August 9th. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, ten have assigned a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, Travelers Companies presently has a consensus rating of "Hold" and an average price target of $284.56.

Travelers Companies Trading Up 0.6%

Travelers Companies stock traded up $1.54 during mid-day trading on Wednesday, hitting $272.43. The company's stock had a trading volume of 807,951 shares, compared to its average volume of 1,334,952. The stock has a market cap of $61.33 billion, a price-to-earnings ratio of 12.05, a price-to-earnings-growth ratio of 3.13 and a beta of 0.51. The business has a 50 day moving average price of $263.46 and a 200-day moving average price of $260.61. 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.

Travelers Companies (NYSE:TRV - Get Free Report) last issued 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. The firm 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%. The company's quarterly revenue was up 7.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.51 earnings per share. As a group, analysts forecast that The Travelers Companies, Inc. will post 17.02 EPS for the current 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 paid a dividend of $1.10 per share. This represents a $4.40 annualized dividend and a dividend yield of 1.6%. The ex-dividend date of this dividend is Wednesday, September 10th. Travelers Companies's dividend payout ratio is 19.46%.

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.