The Travelers Companies, Inc. $TRV Shares Sold by Assenagon Asset Management S.A.

Key Points

• Assenagon Asset Management cut its Travelers stake by 85.3% in the second quarter, selling 144,652 shares and retaining 24,922 shares valued at approximately $8.2 million. Institutional investors and hedge funds collectively own 82.45% of TRV.
• Travelers reported quarterly EPS of $10.04, substantially exceeding the $5.41 consensus estimate, while revenue reached $12.15 billion. Analysts’ consensus rating remains “Hold,” with an average price target of $354.26.
• TRV shares opened at $375.99, near their 12-month high of $398.70, and the company announced a quarterly dividend of $1.25 per share, equivalent to a $5.00 annualized payout and a 1.3% yield.

Assenagon Asset Management S.A. lessened its holdings in shares of The Travelers Companies, Inc. (NYSE:TRV - Free Report) by 85.3% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 24,922 shares of the insurance provider's stock after selling 144,652 shares during the period. Assenagon Asset Management S.A.'s holdings in Travelers Companies were worth $8,227,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in TRV. HHM Wealth Advisors LLC boosted its position in Travelers Companies by 145.7% in the 1st quarter. HHM Wealth Advisors LLC now owns 86 shares of the insurance provider's stock worth $25,000 after purchasing an additional 51 shares in the last quarter. Whipplewood Advisors LLC purchased a new stake in Travelers Companies during the first quarter worth $26,000. Kemnay Advisory Services Inc. purchased a new stake in Travelers Companies during the fourth quarter worth $26,000. Osterweis Capital Management Inc. grew its position in Travelers Companies by 1,820.0% during the second quarter. Osterweis Capital Management Inc. now owns 96 shares of the insurance provider's stock valued at $26,000 after buying an additional 91 shares during the period. Finally, Kohmann Bosshard Financial Services LLC acquired a new stake in Travelers Companies during the fourth quarter valued at $28,000. 82.45% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on TRV shares. HSBC upped their price objective on shares of Travelers Companies from $321.00 to $351.00 and gave the stock a "hold" rating in a research report on Monday, July 6th. Bank of America raised their target price on Travelers Companies from $283.00 to $307.00 and gave the company an "underperform" rating in a research report on Monday, July 20th. BMO Capital Markets cut Travelers Companies from an "outperform" rating to a "market perform" rating and upped their price target for the stock from $314.00 to $379.00 in a report on Tuesday, July 21st. Keefe, Bruyette & Woods reiterated a "market perform" rating and set a $356.00 price target (up from $342.00) on shares of Travelers Companies in a research report on Wednesday, July 8th. Finally, Zacks Research raised Travelers Companies from a "hold" rating to a "strong-buy" rating in a report on Wednesday, July 29th. Four equities research analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating, thirteen have assigned a Hold rating and five have given a Sell rating to the company's stock. According to MarketBeat, the stock has an average rating of "Hold" and an average target price of $354.26.

Insider Activity at Travelers Companies

In other news, EVP Diane Kurtzman sold 4,164 shares of the company's stock in a transaction on Friday, July 24th. The shares were sold at an average price of $386.71, for a total transaction of $1,610,260.44. Following the completion of the sale, the executive vice president owned 5,298 shares of the company's stock, valued at $2,048,789.58. This represents a 44.01% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Daniel Tei-Hwa Yin sold 7,153 shares of the stock in a transaction dated Friday, July 24th. The shares were sold at an average price of $387.00, for a total transaction of $2,768,211.00. Following the completion of the sale, the executive vice president owned 68,834 shares of the company's stock, valued at $26,638,758. This trade represents a 9.41% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 62,667 shares of company stock worth $22,688,329 over the last 90 days. Corporate insiders own 1.39% of the company's stock.

Travelers Companies Price Performance

Shares of Travelers Companies stock opened at $375.99 on Wednesday. The stock has a market capitalization of $78.42 billion, a P/E ratio of 10.07, a PEG ratio of 3.57 and a beta of 0.45. The business has a 50 day simple moving average of $341.51 and a two-hundred day simple moving average of $313.57. The Travelers Companies, Inc. has a 12 month low of $252.26 and a 12 month high of $398.70. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.33 and a quick ratio of 0.33.

Travelers Companies (NYSE:TRV - Get Free Report) last issued its quarterly earnings results on Friday, July 17th. The insurance provider reported $10.04 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $5.41 by $4.63. Travelers Companies had a return on equity of 25.41% and a net margin of 16.95%.The firm had revenue of $12.15 billion for the quarter, compared to analyst estimates of $11.26 billion. During the same period in the previous year, the company posted $6.51 earnings per share. The business's revenue was up .3% on a year-over-year basis. As a group, analysts predict that The Travelers Companies, Inc. will post 33.82 EPS for the current fiscal year.

Travelers Companies Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Thursday, September 10th will be paid a dividend of $1.25 per share. This represents a $5.00 annualized dividend and a yield of 1.3%. The ex-dividend date of this dividend is Thursday, September 10th. Travelers Companies's payout ratio is 13.39%.

Travelers Companies Profile

The Travelers Companies, Inc NYSE: TRV is a leading provider of property and casualty insurance products and services. The company underwrites a broad range of commercial and personal insurance lines, offering coverage designed to protect individuals, small and midsize businesses, and large corporate clients against property loss, liability, and other operational risks. Travelers is known for combining underwriting, claims management and risk control services to help clients prevent losses and recover when incidents occur.

On the commercial side, Travelers writes primary and specialty coverages including property, general liability, commercial auto, workers' compensation, professional and management liability, surety and inland marine.

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