Icon Wealth Advisors LLC Cuts Stock Holdings in The Travelers Companies, Inc. (NYSE:TRV)

Icon Wealth Advisors LLC reduced its position in shares of The Travelers Companies, Inc. (NYSE:TRV) by 1.2% in the 3rd quarter, HoldingsChannel reports. The firm owned 11,976 shares of the insurance provider’s stock after selling 143 shares during the period. Icon Wealth Advisors LLC’s holdings in Travelers Companies were worth $2,804,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in the company. FMR LLC increased its holdings in Travelers Companies by 12.6% in the third quarter. FMR LLC now owns 14,048,691 shares of the insurance provider’s stock valued at $3,289,079,000 after buying an additional 1,568,909 shares in the last quarter. Acadian Asset Management LLC increased its holdings in Travelers Companies by 356.4% in the second quarter. Acadian Asset Management LLC now owns 868,563 shares of the insurance provider’s stock valued at $176,589,000 after buying an additional 678,241 shares in the last quarter. International Assets Investment Management LLC increased its holdings in Travelers Companies by 23,378.8% in the third quarter. International Assets Investment Management LLC now owns 520,291 shares of the insurance provider’s stock valued at $121,811,000 after buying an additional 518,075 shares in the last quarter. Bank of Montreal Can increased its holdings in Travelers Companies by 66.9% in the third quarter. Bank of Montreal Can now owns 705,793 shares of the insurance provider’s stock valued at $166,645,000 after buying an additional 282,884 shares in the last quarter. Finally, Renaissance Technologies LLC grew its position in shares of Travelers Companies by 324.9% in the second quarter. Renaissance Technologies LLC now owns 301,584 shares of the insurance provider’s stock valued at $61,324,000 after purchasing an additional 230,612 shares during the last quarter. 82.45% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

TRV has been the topic of a number of analyst reports. Jefferies Financial Group raised their target price on shares of Travelers Companies from $210.00 to $235.00 and gave the stock a “hold” rating in a research report on Wednesday, October 9th. UBS Group increased their price target on shares of Travelers Companies from $244.00 to $270.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 22nd. Wells Fargo & Company increased their price target on shares of Travelers Companies from $207.00 to $256.00 and gave the stock an “equal weight” rating in a research note on Monday, October 21st. Keefe, Bruyette & Woods increased their price target on shares of Travelers Companies from $245.00 to $273.00 and gave the stock a “market perform” rating in a research note on Tuesday, October 22nd. Finally, BMO Capital Markets increased their price target on shares of Travelers Companies from $233.00 to $270.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 22nd. Four equities research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $251.15.

Travelers Companies Stock Performance

Shares of TRV opened at $266.66 on Friday. The company’s 50 day moving average price is $248.76 and its 200 day moving average price is $227.23. The Travelers Companies, Inc. has a 52 week low of $175.88 and a 52 week high of $269.55. The company has a market capitalization of $60.54 billion, a PE ratio of 13.67, a PEG ratio of 1.26 and a beta of 0.62. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.34 and a current ratio of 0.34.

Travelers Companies (NYSE:TRV) last announced its quarterly earnings data on Thursday, October 17th. The insurance provider reported $5.24 EPS for the quarter, beating analysts’ consensus estimates of $3.79 by $1.45. The firm had revenue of $11.90 billion for the quarter, compared to the consensus estimate of $11.46 billion. Travelers Companies had a net margin of 10.02% and a return on equity of 17.69%. The firm’s revenue was up 11.9% on a year-over-year basis. During the same period in the previous year, the firm posted $1.95 earnings per share. Research analysts expect that The Travelers Companies, Inc. will post 18.83 EPS for the current fiscal year.

Travelers Companies Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Tuesday, December 10th will be given a $1.05 dividend. This represents a $4.20 annualized dividend and a yield of 1.58%. The ex-dividend date of this dividend is Tuesday, December 10th. Travelers Companies’s dividend payout ratio is 21.54%.

Insider Transactions at Travelers Companies

In other news, Vice Chairman William H. Heyman sold 2,014 shares of the firm’s stock in a transaction dated Thursday, October 24th. The shares were sold at an average price of $260.00, for a total transaction of $523,640.00. Following the completion of the transaction, the insider now directly owns 250,384 shares of the company’s stock, valued at approximately $65,099,840. This trade represents a 0.80 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Alan D. Schnitzer sold 40,524 shares of the firm’s stock in a transaction dated Monday, October 21st. The stock was sold at an average price of $260.12, for a total transaction of $10,541,102.88. Following the transaction, the chief executive officer now directly owns 221,924 shares of the company’s stock, valued at $57,726,870.88. The trade was a 15.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 78,149 shares of company stock worth $20,295,856. 1.33% of the stock is owned by insiders.

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.