Gabelli Funds LLC Sells 700 Shares of The Travelers Companies, Inc. (NYSE:TRV)

Gabelli Funds LLC decreased its position in The Travelers Companies, Inc. (NYSE:TRV) by 0.9% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 74,000 shares of the insurance provider’s stock after selling 700 shares during the quarter. Gabelli Funds LLC’s holdings in Travelers Companies were worth $17,030,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in TRV. Northwest Financial Advisors bought a new position in Travelers Companies in the fourth quarter worth $32,000. Private Wealth Management Group LLC purchased a new stake in shares of Travelers Companies in the fourth quarter worth $39,000. OLD Second National Bank of Aurora purchased a new stake in shares of Travelers Companies in the fourth quarter worth $41,000. Opal Wealth Advisors LLC purchased a new stake in shares of Travelers Companies in the first quarter worth $42,000. Finally, Tributary Capital Management LLC purchased a new stake in shares of Travelers Companies in the first quarter worth $45,000. Institutional investors own 82.45% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently commented on TRV. Jefferies Financial Group cut their target price on Travelers Companies from $222.00 to $219.00 and set a “hold” rating on the stock in a research note on Friday, April 19th. William Blair reaffirmed a “market perform” rating on shares of Travelers Companies in a research report on Friday, June 28th. Roth Mkm reaffirmed a “buy” rating and set a $240.00 price objective on shares of Travelers Companies in a research report on Thursday, April 18th. JMP Securities reaffirmed a “market perform” rating on shares of Travelers Companies in a research report on Friday, April 19th. Finally, Morgan Stanley dropped their price objective on Travelers Companies from $220.00 to $210.00 and set an “equal weight” rating on the stock in a research report on Friday, July 19th. Four research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $220.94.

Insider Transactions at Travelers Companies

In other news, EVP Jeffrey P. Klenk sold 3,635 shares of the firm’s stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $213.68, for a total value of $776,726.80. Following the transaction, the executive vice president now owns 6,075 shares of the company’s stock, valued at $1,298,106. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 1.33% of the company’s stock.

Travelers Companies Stock Performance

Shares of NYSE TRV traded up $4.62 during trading on Friday, hitting $213.85. The company had a trading volume of 1,220,457 shares, compared to its average volume of 1,269,819. The stock has a 50 day simple moving average of $209.68 and a 200 day simple moving average of $214.24. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.34 and a current ratio of 0.33. The Travelers Companies, Inc. has a 12 month low of $157.33 and a 12 month high of $232.75. The firm has a market capitalization of $48.74 billion, a P/E ratio of 15.89, a price-to-earnings-growth ratio of 1.12 and a beta of 0.61.

Travelers Companies (NYSE:TRV) last posted its quarterly earnings data on Friday, July 19th. The insurance provider reported $2.51 EPS for the quarter, missing the consensus estimate of $3.23 by ($0.72). Travelers Companies had a return on equity of 15.90% and a net margin of 8.37%. The company had revenue of $11.28 billion during the quarter, compared to the consensus estimate of $11.35 billion. During the same period last year, the business earned $0.06 EPS. The firm’s quarterly revenue was up 11.7% compared to the same quarter last year. As a group, analysts anticipate that The Travelers Companies, Inc. will post 17.15 earnings per share for the current year.

Travelers Companies Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Tuesday, September 10th will be paid a $1.05 dividend. This represents a $4.20 annualized dividend and a dividend yield of 1.96%. The ex-dividend date of this dividend is Tuesday, September 10th. Travelers Companies’s dividend payout ratio (DPR) is currently 31.20%.

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.