Rhumbline Advisers Cuts Stock Holdings in The Travelers Companies, Inc. $TRV

Rhumbline Advisers cut its position in shares of The Travelers Companies, Inc. (NYSE:TRV) by 1.4% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 437,797 shares of the insurance provider’s stock after selling 6,359 shares during the quarter. Rhumbline Advisers’ holdings in Travelers Companies were worth $122,242,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Associated Banc Corp increased its stake in shares of Travelers Companies by 1.4% in the 2nd quarter. Associated Banc Corp now owns 2,734 shares of the insurance provider’s stock valued at $731,000 after purchasing an additional 39 shares in the last quarter. Fifth Third Wealth Advisors LLC raised its stake in shares of Travelers Companies by 1.0% during the 3rd quarter. Fifth Third Wealth Advisors LLC now owns 4,093 shares of the insurance provider’s stock worth $1,143,000 after buying an additional 40 shares during the period. Nilsine Partners LLC lifted its position in shares of Travelers Companies by 0.4% during the 3rd quarter. Nilsine Partners LLC now owns 9,737 shares of the insurance provider’s stock valued at $2,719,000 after buying an additional 41 shares in the last quarter. Valeo Financial Advisors LLC grew its stake in Travelers Companies by 0.8% in the 2nd quarter. Valeo Financial Advisors LLC now owns 5,109 shares of the insurance provider’s stock valued at $1,367,000 after acquiring an additional 41 shares during the period. Finally, Howard Capital Management Inc. increased its holdings in Travelers Companies by 3.0% in the 3rd quarter. Howard Capital Management Inc. now owns 1,465 shares of the insurance provider’s stock worth $409,000 after acquiring an additional 42 shares in the last quarter. Hedge funds and other institutional investors own 82.45% of the company’s stock.

Travelers Companies Stock Performance

Shares of Travelers Companies stock opened at $298.98 on Thursday. The business’s 50 day moving average price is $285.37 and its 200 day moving average price is $278.62. The company has a market cap of $66.69 billion, a price-to-earnings ratio of 10.86, a PEG ratio of 2.79 and a beta of 0.51. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.35 and a current ratio of 0.33. The Travelers Companies, Inc. has a one year low of $230.43 and a one year high of $304.40.

Travelers Companies (NYSE:TRV) last issued its earnings results on Wednesday, January 21st. The insurance provider reported $11.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $8.34 by $2.79. Travelers Companies had a return on equity of 20.70% and a net margin of 12.88%.The company had revenue of $12.43 billion during the quarter, compared to analysts’ expectations of $11.13 billion. During the same period in the prior year, the business earned $9.15 EPS. The firm’s quarterly revenue was up 3.5% on a year-over-year basis. On average, research analysts predict that The Travelers Companies, Inc. will post 17.02 EPS for the current year.

Travelers Companies announced that its board has initiated a share repurchase plan on Wednesday, January 21st that authorizes the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization authorizes the insurance provider to repurchase up to 8.3% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s board believes its shares are undervalued.

Travelers Companies Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Tuesday, March 10th will be paid a dividend of $1.10 per share. The ex-dividend date of this dividend is Tuesday, March 10th. This represents a $4.40 dividend on an annualized basis and a yield of 1.5%. Travelers Companies’s payout ratio is 15.98%.

Insider Activity

In other news, EVP Jeffrey P. Klenk sold 16,712 shares of Travelers Companies stock in a transaction that occurred on Friday, January 23rd. The shares were sold at an average price of $279.77, for a total transaction of $4,675,516.24. Following the sale, the executive vice president owned 6,075 shares of the company’s stock, valued at approximately $1,699,602.75. The trade was a 73.34% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Alan D. Schnitzer sold 55,733 shares of the firm’s stock in a transaction on Wednesday, February 4th. The stock was sold at an average price of $294.70, for a total value of $16,424,515.10. Following the sale, the chief executive officer directly owned 260,329 shares of the company’s stock, valued at approximately $76,718,956.30. This trade represents a 17.63% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 101,765 shares of company stock worth $29,877,543. Corporate insiders own 1.46% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently commented on TRV shares. Piper Sandler boosted their target price on shares of Travelers Companies from $320.00 to $322.00 and gave the stock an “overweight” rating in a research note on Friday, October 17th. Morgan Stanley lifted their price objective on Travelers Companies from $285.00 to $295.00 and gave the stock an “equal weight” rating in a report on Monday, November 17th. Keefe, Bruyette & Woods increased their target price on Travelers Companies from $317.00 to $320.00 and gave the company an “outperform” rating in a report on Friday, January 23rd. The Goldman Sachs Group lowered Travelers Companies from a “buy” rating to a “neutral” rating and set a $304.00 price target on the stock. in a research note on Wednesday, January 7th. Finally, Wells Fargo & Company dropped their price target on Travelers Companies from $307.00 to $285.00 and set an “equal weight” rating for the company in a research report on Thursday, January 22nd. Two research analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating, ten have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $303.00.

Travelers Companies Company Profile

The Travelers Companies, Inc (NYSE: TRV) is a leading provider of property and casualty insurance products and services. The company underwrites a broad range of commercial and personal insurance lines, offering coverage designed to protect individuals, small and midsize businesses, and large corporate clients against property loss, liability, and other operational risks. Travelers is known for combining underwriting, claims management and risk control services to help clients prevent losses and recover when incidents occur.

On the commercial side, Travelers writes primary and specialty coverages including property, general liability, commercial auto, workers’ compensation, professional and management liability, surety and inland marine.