Martingale Asset Management L P Cuts Stock Holdings in The Travelers Companies, Inc. $TRV

Martingale Asset Management L P cut its stake in shares of The Travelers Companies, Inc. (NYSE:TRV) by 9.7% in the 1st quarter, Holdings Channel reports. The institutional investor owned 85,932 shares of the insurance provider’s stock after selling 9,180 shares during the quarter. Martingale Asset Management L P’s holdings in Travelers Companies were worth $22,726,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of the company. PFG Advisors boosted its position in Travelers Companies by 108.8% during the 1st quarter. PFG Advisors now owns 4,255 shares of the insurance provider’s stock worth $1,125,000 after purchasing an additional 2,217 shares during the period. Greatmark Investment Partners Inc. grew its stake in shares of Travelers Companies by 3.0% in the first quarter. Greatmark Investment Partners Inc. now owns 60,953 shares of the insurance provider’s stock valued at $16,120,000 after buying an additional 1,772 shares in the last quarter. Portside Wealth Group LLC purchased a new stake in shares of Travelers Companies during the 1st quarter valued at about $208,000. Atlas Capital Advisors Inc. lifted its position in Travelers Companies by 890.9% during the 1st quarter. Atlas Capital Advisors Inc. now owns 4,558 shares of the insurance provider’s stock worth $1,205,000 after acquiring an additional 4,098 shares in the last quarter. Finally, Concurrent Investment Advisors LLC boosted its holdings in Travelers Companies by 47.3% in the 1st quarter. Concurrent Investment Advisors LLC now owns 5,305 shares of the insurance provider’s stock worth $1,403,000 after acquiring an additional 1,703 shares during the period. 82.45% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on TRV. UBS Group boosted their target price on shares of Travelers Companies from $275.00 to $284.00 and gave the stock a “neutral” rating in a research report on Monday, July 21st. Wells Fargo & Company increased their price target on Travelers Companies from $264.00 to $275.00 and gave the company an “equal weight” rating in a report on Friday, July 18th. Barclays lowered Travelers Companies from an “overweight” rating to an “equal weight” rating and lowered their price objective for the company from $280.00 to $274.00 in a research note on Monday, July 7th. Keefe, Bruyette & Woods increased their target price on Travelers Companies from $304.00 to $316.00 and gave the company an “outperform” rating in a research note on Friday, July 18th. Finally, Citigroup started coverage on shares of Travelers Companies in a report on Wednesday, August 13th. They issued a “neutral” rating and a $291.00 price target on the stock. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, ten have given a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $284.56.

Travelers Companies Stock Performance

Shares of NYSE TRV opened at $274.2330 on Thursday. The company has a quick ratio of 0.33, a current ratio of 0.33 and a debt-to-equity ratio of 0.27. The firm’s 50-day moving average price is $262.74 and its two-hundred day moving average price is $259.73. The Travelers Companies, Inc. has a 52-week low of $215.39 and a 52-week high of $277.83. The stock has a market capitalization of $61.74 billion, a P/E ratio of 12.13, a P/E/G ratio of 3.09 and a beta of 0.51.

Travelers Companies (NYSE:TRV) last announced its quarterly earnings results on Thursday, July 17th. The insurance provider reported $6.51 earnings per share for the quarter, topping analysts’ consensus estimates of $3.52 by $2.99. The business had revenue of $11.54 billion for the quarter, compared to analysts’ expectations of $11.02 billion. Travelers Companies had a return on equity of 18.68% and a net margin of 10.97%.The business’s quarterly revenue was up 7.4% on a year-over-year basis. During the same period in the prior year, the firm earned $2.51 EPS. As a group, sell-side analysts forecast that The Travelers Companies, Inc. will post 17.02 earnings per share for the current year.

Travelers Companies Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Wednesday, September 10th will be issued a $1.10 dividend. This represents a $4.40 dividend on an annualized basis and a dividend yield of 1.6%. The ex-dividend date of this dividend is Wednesday, September 10th. Travelers Companies’s dividend payout ratio (DPR) is 19.46%.

Insider Transactions at Travelers Companies

In other Travelers Companies news, insider Avrohom J. Kess sold 23,434 shares of the company’s stock in a transaction dated Thursday, May 29th. The shares were sold at an average price of $273.93, for a total value of $6,419,275.62. Following the completion of the transaction, the insider owned 48,387 shares in the company, valued at approximately $13,254,650.91. This represents a 32.63% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Gregory C. Toczydlowski sold 11,505 shares of Travelers Companies stock in a transaction that occurred on Monday, July 21st. The shares were sold at an average price of $266.12, for a total value of $3,061,710.60. Following the sale, the executive vice president directly owned 18,416 shares in the company, valued at approximately $4,900,865.92. This trade represents a 38.45% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 175,374 shares of company stock worth $47,929,912 over the last 90 days. Corporate insiders own 1.46% of the company’s stock.

Travelers Companies Company 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.