Progressive Investment Management Corp Sells 293 Shares of The Travelers Companies, Inc. (TRV)

Progressive Investment Management Corp decreased its position in shares of The Travelers Companies, Inc. (NYSE:TRV) by 1.4% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 20,132 shares of the insurance provider’s stock after selling 293 shares during the period. Progressive Investment Management Corp’s holdings in The Travelers Companies were worth $2,547,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in TRV. Vanguard Group Inc. increased its holdings in shares of The Travelers Companies by 3.0% in the first quarter. Vanguard Group Inc. now owns 21,551,932 shares of the insurance provider’s stock valued at $2,597,871,000 after purchasing an additional 633,510 shares during the period. BlackRock Inc. increased its holdings in shares of The Travelers Companies by 2,395.6% in the first quarter. BlackRock Inc. now owns 20,403,051 shares of the insurance provider’s stock valued at $2,459,383,000 after purchasing an additional 19,585,476 shares during the period. State Street Corp increased its holdings in shares of The Travelers Companies by 1.6% in the first quarter. State Street Corp now owns 18,949,803 shares of the insurance provider’s stock valued at $2,284,205,000 after purchasing an additional 304,049 shares during the period. FMR LLC increased its holdings in shares of The Travelers Companies by 42.1% in the first quarter. FMR LLC now owns 6,596,545 shares of the insurance provider’s stock valued at $795,148,000 after purchasing an additional 1,954,573 shares during the period. Finally, AQR Capital Management LLC increased its holdings in shares of The Travelers Companies by 9.4% in the first quarter. AQR Capital Management LLC now owns 3,026,207 shares of the insurance provider’s stock valued at $364,779,000 after purchasing an additional 260,838 shares during the period. 77.55% of the stock is currently owned by institutional investors.

A number of brokerages recently weighed in on TRV. Zacks Investment Research lowered The Travelers Companies from a “hold” rating to a “sell” rating in a report on Tuesday, September 5th. ValuEngine raised The Travelers Companies from a “hold” rating to a “buy” rating in a report on Friday, September 1st. Citigroup Inc. upped their price objective on The Travelers Companies from $140.00 to $150.00 and gave the stock a “buy” rating in a report on Thursday, July 13th. Vetr raised The Travelers Companies from a “hold” rating to a “buy” rating and set a $132.68 price objective on the stock in a report on Tuesday, June 27th. Finally, Bank of America Corporation lowered The Travelers Companies from a “buy” rating to a “neutral” rating and upped their price objective for the stock from $120.62 to $129.44 in a report on Monday, June 19th. Five analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have given a buy rating to the stock. The Travelers Companies has a consensus rating of “Hold” and an average price target of $126.26.

In related news, Vice Chairman Jay S. Benet sold 5,518 shares of the stock in a transaction that occurred on Monday, July 17th. The shares were sold at an average price of $125.66, for a total transaction of $693,391.88. Following the sale, the insider now owns 82,824 shares in the company, valued at approximately $10,407,663.84. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Vice Chairman William H. Heyman sold 24,000 shares of the stock in a transaction that occurred on Tuesday, July 25th. The stock was sold at an average price of $126.64, for a total transaction of $3,039,360.00. Following the sale, the insider now owns 253,744 shares in the company, valued at approximately $32,134,140.16. The disclosure for this sale can be found here. Insiders have sold 150,395 shares of company stock worth $19,249,559 over the last ninety days. Insiders own 0.82% of the company’s stock.

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The Travelers Companies, Inc. (TRV) traded up 0.09% during trading on Friday, reaching $120.07. The company had a trading volume of 1,314,118 shares. The Travelers Companies, Inc. has a 52-week low of $103.45 and a 52-week high of $130.37. The stock has a market cap of $33.13 billion, a PE ratio of 11.96 and a beta of 1.21. The company has a 50-day moving average price of $125.29 and a 200 day moving average price of $123.83.

The Travelers Companies (NYSE:TRV) last released its quarterly earnings results on Thursday, July 20th. The insurance provider reported $1.92 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $2.07 by ($0.15). The company had revenue of $6.35 billion during the quarter, compared to the consensus estimate of $6.31 billion. The Travelers Companies had a net margin of 10.15% and a return on equity of 11.68%. The firm’s revenue was up 4.7% compared to the same quarter last year. During the same period in the prior year, the company earned $2.20 earnings per share. On average, analysts anticipate that The Travelers Companies, Inc. will post $7.64 earnings per share for the current year.

The Travelers Companies announced that its Board of Directors has authorized a share repurchase plan on Monday, September 11th that authorizes the company to repurchase outstanding shares. This repurchase authorization authorizes the insurance provider to buy shares of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.

The business also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Friday, September 8th will be issued a $0.72 dividend. The ex-dividend date of this dividend is Thursday, September 7th. This represents a $2.88 annualized dividend and a yield of 2.40%. The Travelers Companies’s dividend payout ratio is currently 28.77%.

The Travelers Companies Company Profile

The Travelers Companies, Inc is a holding company. The Company’s segments include Business and International Insurance; Bond & Specialty Insurance, and Personal Insurance. Through its subsidiaries, it provides commercial and personal property and casualty insurance products and services. The Business and International Insurance segment offers property and casualty insurance and insurance related services to its clients, in the United States and in Canada, as well as in the United Kingdom, the Republic of Ireland, Brazil and throughout other parts of the world.

Institutional Ownership by Quarter for The Travelers Companies (NYSE:TRV)

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