TD Asset Management Inc Decreases Holdings in The Travelers Companies, Inc. $TRV

TD Asset Management Inc reduced its position in The Travelers Companies, Inc. (NYSE:TRV) by 0.8% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 250,221 shares of the insurance provider’s stock after selling 1,898 shares during the period. TD Asset Management Inc owned about 0.11% of Travelers Companies worth $69,867,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of TRV. Mufg Securities Americas Inc. boosted its position in Travelers Companies by 20.9% during the third quarter. Mufg Securities Americas Inc. now owns 6,072 shares of the insurance provider’s stock worth $1,695,000 after purchasing an additional 1,051 shares in the last quarter. Compound Planning Inc. increased its position in shares of Travelers Companies by 18.5% in the third quarter. Compound Planning Inc. now owns 4,024 shares of the insurance provider’s stock valued at $1,123,000 after buying an additional 628 shares in the last quarter. EverSource Wealth Advisors LLC raised its stake in shares of Travelers Companies by 8.9% during the 3rd quarter. EverSource Wealth Advisors LLC now owns 2,234 shares of the insurance provider’s stock worth $624,000 after buying an additional 182 shares during the last quarter. Cary Street Partners Investment Advisory LLC boosted its position in shares of Travelers Companies by 7.2% in the 3rd quarter. Cary Street Partners Investment Advisory LLC now owns 779 shares of the insurance provider’s stock worth $218,000 after buying an additional 52 shares in the last quarter. Finally, Legacy Financial Advisors Inc. grew its stake in Travelers Companies by 30.8% in the 3rd quarter. Legacy Financial Advisors Inc. now owns 1,600 shares of the insurance provider’s stock valued at $447,000 after acquiring an additional 377 shares during the last quarter. 82.45% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have issued reports on the stock. Evercore lifted their target price on shares of Travelers Companies from $309.00 to $317.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 7th. Citigroup reissued a “neutral” rating on shares of Travelers Companies in a research note on Tuesday, January 27th. Cantor Fitzgerald upped their target price on Travelers Companies from $316.00 to $319.00 and gave the company an “overweight” rating in a research note on Monday, February 2nd. Morgan Stanley increased their target price on Travelers Companies from $285.00 to $295.00 and gave the company an “equal weight” rating in a report on Monday, November 17th. Finally, Mizuho cut their price target on Travelers Companies from $315.00 to $304.00 and set a “neutral” rating for the company in a report on Thursday, January 22nd. Two analysts have rated the stock with a Strong Buy rating, five have given a Buy rating, ten have given a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, Travelers Companies currently has a consensus rating of “Hold” and a consensus price target of $304.33.

Travelers Companies Stock Up 0.5%

TRV stock opened at $306.21 on Friday. The stock has a market capitalization of $66.21 billion, a P/E ratio of 11.12, a PEG ratio of 2.84 and a beta of 0.51. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.33 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 $309.37. The company has a 50 day moving average price of $288.87 and a two-hundred day moving average price of $281.48.

Travelers Companies (NYSE:TRV) last issued its quarterly earnings results on Wednesday, January 21st. The insurance provider reported $11.13 earnings per share for the quarter, topping analysts’ consensus estimates of $8.34 by $2.79. The company had revenue of $12.43 billion for the quarter, compared to analyst estimates of $11.13 billion. Travelers Companies had a return on equity of 20.70% and a net margin of 12.88%.The business’s revenue for the quarter was up 3.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted $9.15 EPS. As a group, sell-side analysts expect that The Travelers Companies, Inc. will post 17.02 EPS for the current year.

Travelers Companies Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Tuesday, March 10th will be paid a $1.10 dividend. This represents a $4.40 dividend on an annualized basis and a yield of 1.4%. The ex-dividend date of this dividend is Tuesday, March 10th. Travelers Companies’s dividend payout ratio (DPR) is presently 15.98%.

Travelers Companies announced that its board has approved a share repurchase program on Wednesday, January 21st that permits the company to buyback $5.00 billion in shares. This buyback authorization permits the insurance provider to purchase up to 8.3% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s leadership believes its stock is undervalued.

Insiders Place Their Bets

In related news, CEO Alan D. Schnitzer sold 55,733 shares of the firm’s stock in a transaction that occurred on Wednesday, February 4th. The shares were 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Jeffrey P. Klenk sold 16,712 shares of the company’s stock in a transaction that occurred on Friday, January 23rd. The stock was sold at an average price of $279.77, for a total transaction of $4,675,516.24. Following the transaction, the executive vice president directly owned 6,075 shares of the company’s stock, valued at $1,699,602.75. This trade represents a 73.34% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 92,845 shares of company stock valued at $27,239,631 in the last quarter. Corporate insiders own 1.46% of the company’s stock.

Travelers Companies 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.