Lazard Asset Management LLC Sells 8,361 Shares of The Travelers Companies, Inc. (NYSE:TRV)

Lazard Asset Management LLC lowered its position in shares of The Travelers Companies, Inc. (NYSE:TRV) by 21.5% during the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 30,468 shares of the insurance provider’s stock after selling 8,361 shares during the period. Lazard Asset Management LLC’s holdings in Travelers Companies were worth $7,011,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Northwest Financial Advisors bought a new stake in shares of Travelers Companies in the 4th quarter valued at about $32,000. Private Wealth Management Group LLC bought a new position in Travelers Companies in the fourth quarter worth approximately $39,000. OLD Second National Bank of Aurora purchased a new stake in Travelers Companies during the fourth quarter worth $41,000. Opal Wealth Advisors LLC bought a new stake in Travelers Companies during the 1st quarter valued at $42,000. Finally, Tributary Capital Management LLC purchased a new position in shares of Travelers Companies in the 1st quarter valued at $45,000. 82.45% of the stock is owned by hedge funds and other institutional investors.

Travelers Companies Price Performance

Shares of NYSE TRV opened at $213.55 on Monday. The Travelers Companies, Inc. has a 52 week low of $157.33 and a 52 week high of $232.75. The business’s 50 day moving average price is $209.68 and its 200 day moving average price is $214.55. The company has a quick ratio of 0.33, a current ratio of 0.33 and a debt-to-equity ratio of 0.32. The firm has a market cap of $48.67 billion, a P/E ratio of 15.89, a P/E/G ratio of 1.14 and a beta of 0.61.

Travelers Companies (NYSE:TRV) last announced 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). The business had revenue of $11.28 billion for the quarter, compared to analyst estimates of $11.35 billion. Travelers Companies had a net margin of 8.37% and a return on equity of 15.90%. The business’s revenue was up 11.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.06 earnings per share. On average, sell-side analysts expect that The Travelers Companies, Inc. will post 17.23 earnings per share for the current year.

Travelers Companies Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Tuesday, September 10th will be issued a $1.05 dividend. This represents a $4.20 annualized dividend and a yield of 1.97%. The ex-dividend date is Tuesday, September 10th. Travelers Companies’s payout ratio is 31.20%.

Analyst Ratings Changes

A number of brokerages recently weighed in on TRV. Evercore ISI dropped their price objective on Travelers Companies from $253.00 to $250.00 and set an “outperform” rating on the stock in a research report on Thursday, April 18th. TD Cowen cut shares of Travelers Companies from a “buy” rating to a “hold” rating and lowered their price target for the company from $252.00 to $230.00 in a report on Monday, July 15th. Morgan Stanley reduced their price objective on shares of Travelers Companies from $220.00 to $210.00 and set an “equal weight” rating for the company in a research note on Friday, July 19th. Citigroup reissued a “sell” rating and set a $200.00 target price (down previously from $226.00) on shares of Travelers Companies in a research report on Friday, June 28th. Finally, JMP Securities reaffirmed a “market perform” rating on shares of Travelers Companies in a report on Friday, April 19th. Four research analysts have rated the stock with a sell rating, thirteen have given a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $220.94.

Insiders Place Their Bets

In other news, EVP Jeffrey P. Klenk sold 3,635 shares of the business’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 completion of the transaction, the executive vice president now owns 6,075 shares of the company’s stock, valued at approximately $1,298,106. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 1.33% of the stock is owned by insiders.

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.