Panagora Asset Management Inc. Sells 58,372 Shares of The Travelers Companies, Inc. $TRV

Key Points

• Panagora Asset Management Inc. reduced its stake in The Travelers Companies by 20.1% in Q1, owning 232,103 shares worth approximately $61.38 million after selling 58,372 shares.
• Travelers Companies announced a quarterly dividend of $1.10 to be paid on September 30, representing an annualized dividend yield of 1.6%.
• The company reported strong earnings with EPS of $6.51 for the last quarter, significantly surpassing estimates of $3.52 and reflecting a year-over-year revenue increase of 7.4% to $11.54 billion.

Panagora Asset Management Inc. reduced its stake in The Travelers Companies, Inc. (NYSE:TRV - Free Report) by 20.1% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 232,103 shares of the insurance provider's stock after selling 58,372 shares during the period. Panagora Asset Management Inc. owned 0.10% of Travelers Companies worth $61,382,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. PFG Advisors increased its stake in Travelers Companies by 108.8% in the first quarter. PFG Advisors now owns 4,255 shares of the insurance provider's stock valued at $1,125,000 after purchasing an additional 2,217 shares in the last quarter. Greatmark Investment Partners Inc. increased its stake in Travelers Companies by 3.0% in the first quarter. Greatmark Investment Partners Inc. now owns 60,953 shares of the insurance provider's stock valued at $16,120,000 after purchasing an additional 1,772 shares in the last quarter. Portside Wealth Group LLC bought a new stake in Travelers Companies in the first quarter valued at $208,000. Atlas Capital Advisors Inc. increased its position in shares of Travelers Companies by 890.9% during the first quarter. Atlas Capital Advisors Inc. now owns 4,558 shares of the insurance provider's stock worth $1,205,000 after acquiring an additional 4,098 shares in the last quarter. Finally, Concurrent Investment Advisors LLC increased its position in shares of Travelers Companies by 47.3% during the first quarter. Concurrent Investment Advisors LLC now owns 5,305 shares of the insurance provider's stock worth $1,403,000 after acquiring an additional 1,703 shares in the last quarter. 82.45% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research firms have recently commented on TRV. Morgan Stanley set a $269.00 target price on shares of Travelers Companies and gave the stock an "equal weight" rating in a research report on Monday, May 19th. UBS Group boosted their target price on shares of Travelers Companies from $275.00 to $284.00 and gave the stock a "neutral" rating in a research report on Monday, July 21st. Wall Street Zen downgraded shares of Travelers Companies from a "buy" rating to a "hold" rating in a research report on Saturday, August 9th. Barclays downgraded shares of Travelers Companies from an "overweight" rating to an "equal weight" rating and decreased their target price for the stock from $280.00 to $274.00 in a research report on Monday, July 7th. Finally, Cantor Fitzgerald upgraded shares of Travelers Companies to a "strong-buy" rating in a report on Wednesday, August 13th. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, ten have issued a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, Travelers Companies presently has an average rating of "Hold" and an average price target of $284.56.

Travelers Companies Stock Performance

TRV traded up $2.65 during midday trading on Wednesday, reaching $276.00. The company had a trading volume of 1,115,621 shares, compared to its average volume of 1,327,128. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.33 and a current ratio of 0.33. The stock has a market cap of $62.14 billion, a PE ratio of 12.21, a P/E/G ratio of 3.12 and a beta of 0.53. The Travelers Companies, Inc. has a 12-month low of $224.62 and a 12-month high of $279.04. The business has a 50-day moving average price of $264.07 and a two-hundred day moving average price of $261.67.

Travelers Companies (NYSE:TRV - Get Free Report) last released its earnings results on Thursday, July 17th. The insurance provider reported $6.51 earnings per share for the quarter, beating analysts' consensus estimates of $3.52 by $2.99. The firm had revenue of $11.54 billion for the quarter, compared to analysts' expectations 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% on a year-over-year basis. During the same period in the previous year, the company earned $2.51 earnings per share. On average, sell-side analysts expect that The Travelers Companies, Inc. will post 17.02 earnings per share for the current fiscal year.

Travelers Companies Announces Dividend

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

Insider Buying and Selling

In related news, EVP Mojgan M. Lefebvre sold 16,820 shares of the company's stock in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $277.54, for a total transaction of $4,668,222.80. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Gregory C. Toczydlowski sold 11,505 shares of the company's stock in a transaction that occurred on Monday, July 21st. The shares were sold at an average price of $266.12, for a total transaction of $3,061,710.60. Following the sale, the executive vice president owned 18,416 shares in the company, valued at $4,900,865.92. The trade was a 38.45% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.46% of the company's stock.

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.