Meridian Investment Counsel Inc. Sells 175 Shares of The Travelers Companies, Inc. (NYSE:TRV)

Meridian Investment Counsel Inc. cut its stake in shares of The Travelers Companies, Inc. (NYSE:TRV) by 0.9% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 19,966 shares of the insurance provider’s stock after selling 175 shares during the period. Travelers Companies comprises approximately 1.4% of Meridian Investment Counsel Inc.’s holdings, making the stock its 14th largest position. Meridian Investment Counsel Inc.’s holdings in Travelers Companies were worth $4,674,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of TRV. Cetera Investment Advisers boosted its holdings in shares of Travelers Companies by 356.3% in the first quarter. Cetera Investment Advisers now owns 45,541 shares of the insurance provider’s stock worth $10,481,000 after buying an additional 35,560 shares during the last quarter. GAMMA Investing LLC boosted its stake in shares of Travelers Companies by 162.6% during the 2nd quarter. GAMMA Investing LLC now owns 4,926 shares of the insurance provider’s stock worth $1,002,000 after acquiring an additional 3,050 shares during the last quarter. Manning & Napier Advisors LLC purchased a new stake in shares of Travelers Companies in the 2nd quarter worth $17,303,000. Cetera Advisors LLC raised its holdings in Travelers Companies by 75.3% in the 1st quarter. Cetera Advisors LLC now owns 10,996 shares of the insurance provider’s stock worth $2,531,000 after purchasing an additional 4,724 shares during the period. Finally, Swedbank AB purchased a new position in Travelers Companies during the first quarter valued at $26,618,000. 82.45% of the stock is owned by institutional investors.

Travelers Companies Trading Up 1.7 %

Shares of TRV opened at $260.82 on Friday. The stock has a market capitalization of $59.21 billion, a PE ratio of 13.38, a P/E/G ratio of 1.23 and a beta of 0.62. The company’s fifty day moving average is $244.44 and its 200 day moving average is $224.32. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.34 and a current ratio of 0.34. The Travelers Companies, Inc. has a fifty-two week low of $169.18 and a fifty-two week high of $269.55.

Travelers Companies (NYSE:TRV) last posted its earnings results on Thursday, October 17th. The insurance provider reported $5.24 earnings per share for the quarter, topping analysts’ consensus estimates of $3.79 by $1.45. Travelers Companies had a net margin of 10.02% and a return on equity of 17.69%. The firm had revenue of $11.90 billion for the quarter, compared to the consensus estimate of $11.46 billion. During the same period in the previous year, the firm posted $1.95 EPS. The business’s quarterly revenue was up 11.9% on a year-over-year basis. Sell-side analysts expect that The Travelers Companies, Inc. will post 18.64 earnings per share for the current fiscal year.

Travelers Companies Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Tuesday, December 10th will be given a dividend of $1.05 per share. The ex-dividend date of this dividend is Tuesday, December 10th. This represents a $4.20 dividend on an annualized basis and a yield of 1.61%. Travelers Companies’s dividend payout ratio (DPR) is presently 21.54%.

Insider Activity

In related news, EVP Andy F. Bessette sold 4,520 shares of the company’s stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $253.46, for a total transaction of $1,145,639.20. Following the transaction, the executive vice president now directly owns 16,976 shares in the company, valued at approximately $4,302,736.96. This represents a 21.03 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Alan D. Schnitzer sold 40,524 shares of the 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 completion of the sale, the chief executive officer now directly owns 221,924 shares in the company, valued at $57,726,870.88. This trade represents a 15.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 63,999 shares of company stock valued at $16,580,166 in the last ninety days. Insiders own 1.33% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have commented on the company. Jefferies Financial Group upped their price target on Travelers Companies from $210.00 to $235.00 and gave the stock a “hold” rating in a research report on Wednesday, October 9th. StockNews.com raised shares of Travelers Companies from a “hold” rating to a “buy” rating in a report on Thursday, October 31st. Citigroup lifted their price target on shares of Travelers Companies from $200.00 to $203.00 and gave the company a “sell” rating in a report on Tuesday, July 30th. Keefe, Bruyette & Woods increased their price objective 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, Bank of America raised their price objective on shares of Travelers Companies from $241.00 to $265.00 and gave the company an “underperform” rating in a research report on Thursday, October 17th. Four investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $247.90.

About Travelers Companies

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.