UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC Sells 2,112,009 Shares of The Travelers Companies, Inc. $TRV

Key Points

• UBS AM significantly reduced its stake in The Travelers Companies by 77.9%, selling over 2 million shares, leaving them with a 0.27% ownership valued at approximately $158.8 million.
• Several institutional investors have increased their positions in Travelers, with Cornerstone Planning Group LLC boosting its stake by 700% during the first quarter.
• The Travelers Companies reported strong earnings, beating consensus estimates with $6.51 earnings per share and a revenue of $11.54 billion for the quarter.

UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lessened its stake in shares of The Travelers Companies, Inc. (NYSE:TRV - Free Report) by 77.9% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 600,611 shares of the insurance provider's stock after selling 2,112,009 shares during the quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC owned about 0.27% of Travelers Companies worth $158,838,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in TRV. GAMMA Investing LLC grew its holdings in Travelers Companies by 31,132.9% during the 1st quarter. GAMMA Investing LLC now owns 2,203,481 shares of the insurance provider's stock valued at $582,733,000 after buying an additional 2,196,426 shares in the last quarter. Nuveen LLC purchased a new position in Travelers Companies during the 1st quarter valued at about $294,755,000. Bahl & Gaynor Inc. grew its holdings in Travelers Companies by 41.2% during the 1st quarter. Bahl & Gaynor Inc. now owns 1,679,275 shares of the insurance provider's stock valued at $444,101,000 after buying an additional 490,039 shares in the last quarter. Goldman Sachs Group Inc. grew its holdings in Travelers Companies by 25.3% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,934,625 shares of the insurance provider's stock valued at $511,631,000 after buying an additional 390,104 shares in the last quarter. Finally, AQR Capital Management LLC grew its holdings in shares of Travelers Companies by 24.0% during the first quarter. AQR Capital Management LLC now owns 1,431,736 shares of the insurance provider's stock worth $377,921,000 after purchasing an additional 276,850 shares in the last quarter. Hedge funds and other institutional investors own 82.45% of the company's stock.

Travelers Companies Price Performance

TRV traded down $2.53 during midday trading on Monday, hitting $276.40. The stock had a trading volume of 805,427 shares, compared to its average volume of 1,085,606. The company has a market cap of $62.23 billion, a P/E ratio of 12.22, a price-to-earnings-growth ratio of 3.20 and a beta of 0.53. The business has a fifty day moving average of $266.48 and a 200 day moving average of $263.67. 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 Travelers Companies, Inc. has a 1 year low of $224.62 and a 1 year high of $280.70.

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 (EPS) for the quarter, topping the consensus estimate of $3.52 by $2.99. The business had revenue of $11.54 billion during 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%.Travelers Companies's revenue for the quarter was up 7.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.51 earnings per share. As a group, equities 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 given a $1.10 dividend. The ex-dividend date is Wednesday, September 10th. This represents a $4.40 annualized dividend and a yield of 1.6%. Travelers Companies's payout ratio is presently 19.46%.

Insider Activity at Travelers Companies

In other Travelers Companies news, EVP Gregory C. Toczydlowski sold 11,505 shares of the business's stock in a transaction that occurred on Monday, July 21st. The stock was sold at an average price of $266.12, for a total value of $3,061,710.60. Following the completion of the sale, the executive vice president owned 18,416 shares in the company, valued at approximately $4,900,865.92. The trade was a 38.45% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Mojgan M. Lefebvre sold 16,820 shares of the business'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 value of $4,668,222.80. The disclosure for this sale can be found here. Insiders own 1.46% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have recently commented on TRV. Wells Fargo & Company boosted their price objective on Travelers Companies from $264.00 to $275.00 and gave the stock an "equal weight" rating in a report on Friday, July 18th. Morgan Stanley set a $269.00 price objective on Travelers Companies and gave the stock an "equal weight" rating in a report on Monday, May 19th. UBS Group boosted their price objective on Travelers Companies from $275.00 to $284.00 and gave the stock a "neutral" rating in a report on Monday, July 21st. 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 report on Friday, July 18th. Finally, Citigroup began coverage on Travelers Companies in a report on Wednesday, August 13th. They set a "neutral" rating and a $291.00 price objective for the company. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, eleven have assigned a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target 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.