Conning Inc. Trims Stock Position in The Travelers Companies, Inc. $TRV

Conning Inc. lessened its stake in The Travelers Companies, Inc. (NYSE:TRV) by 1.5% in the 4th quarter, HoldingsChannel.com reports. The fund owned 119,326 shares of the insurance provider’s stock after selling 1,852 shares during the period. Travelers Companies comprises 1.2% of Conning Inc.’s portfolio, making the stock its 15th largest holding. Conning Inc.’s holdings in Travelers Companies were worth $34,612,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently made changes to their positions in the company. Chicago Partners Investment Group LLC boosted its position in shares of Travelers Companies by 1.9% in the 4th quarter. Chicago Partners Investment Group LLC now owns 1,949 shares of the insurance provider’s stock valued at $541,000 after purchasing an additional 36 shares during the period. Greenleaf Trust increased its position in Travelers Companies by 0.4% during the fourth quarter. Greenleaf Trust now owns 10,036 shares of the insurance provider’s stock worth $2,911,000 after buying an additional 37 shares during the period. Allegiance Financial Group Advisory Services LLC lifted its stake in Travelers Companies by 3.4% in the fourth quarter. Allegiance Financial Group Advisory Services LLC now owns 1,130 shares of the insurance provider’s stock valued at $328,000 after buying an additional 37 shares during the last quarter. Ibex Wealth Advisors lifted its stake in Travelers Companies by 1.4% in the third quarter. Ibex Wealth Advisors now owns 2,889 shares of the insurance provider’s stock valued at $807,000 after buying an additional 40 shares during the last quarter. Finally, JSF Financial LLC boosted its holdings in shares of Travelers Companies by 1.0% in the fourth quarter. JSF Financial LLC now owns 3,944 shares of the insurance provider’s stock valued at $1,144,000 after acquiring an additional 40 shares during the period. Hedge funds and other institutional investors own 82.45% of the company’s stock.

Insider Buying and Selling at Travelers Companies

In other Travelers Companies news, insider Avrohom J. Kess sold 6,735 shares of Travelers Companies stock in a transaction that occurred on Tuesday, April 28th. The stock was sold at an average price of $308.78, for a total value of $2,079,633.30. Following the sale, the insider owned 48,737 shares of the company’s stock, valued at approximately $15,049,010.86. The trade was a 12.14% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Michael Frederick Klein sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, April 20th. The stock was sold at an average price of $303.77, for a total value of $3,037,700.00. Following the transaction, the executive vice president owned 45,125 shares in the company, valued at $13,707,621.25. The trade was a 18.14% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 27,573 shares of company stock valued at $8,427,646. Insiders own 1.39% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on TRV. Argus upgraded shares of Travelers Companies to a “strong-buy” rating in a research report on Monday, January 26th. BMO Capital Markets increased their price target on shares of Travelers Companies from $297.00 to $314.00 and gave the stock an “outperform” rating in a research note on Monday, April 20th. Evercore reissued an “outperform” rating on shares of Travelers Companies in a research report on Friday, April 17th. Weiss Ratings restated a “buy (a-)” rating on shares of Travelers Companies in a research note on Friday, May 8th. Finally, Keefe, Bruyette & Woods upped their target price on shares of Travelers Companies from $340.00 to $342.00 and gave the company an “outperform” rating in a report on Monday, April 20th. Two investment analysts have rated the stock with a Strong Buy rating, six have given a Buy rating, ten have assigned a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $309.13.

Travelers Companies Price Performance

Shares of NYSE TRV opened at $298.32 on Friday. The company has a debt-to-equity ratio of 0.29, a current ratio of 0.35 and a quick ratio of 0.35. The stock has a fifty day moving average price of $299.39 and a 200 day moving average price of $291.51. The Travelers Companies, Inc. has a 1-year low of $249.19 and a 1-year high of $313.12. The company has a market cap of $63.44 billion, a PE ratio of 8.88, a P/E/G ratio of 2.66 and a beta of 0.50.

Travelers Companies (NYSE:TRV) last announced its quarterly earnings data on Thursday, April 16th. The insurance provider reported $7.71 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.80 by $0.91. The company had revenue of $11.92 billion for the quarter, compared to analysts’ expectations of $11.11 billion. Travelers Companies had a net margin of 15.54% and a return on equity of 24.06%. Travelers Companies’s revenue was down 1.7% compared to the same quarter last year. During the same period in the previous year, the company posted $1.91 EPS. Sell-side analysts forecast that The Travelers Companies, Inc. will post 28.03 EPS for the current year.

Travelers Companies declared that its Board of Directors has authorized a share buyback program on Wednesday, January 21st that allows the company to buyback $5.00 billion in outstanding shares. This buyback authorization allows the insurance provider to buy up to 8.3% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s board of directors believes its stock is undervalued.

Travelers Companies Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Wednesday, June 10th will be paid a dividend of $1.25 per share. This represents a $5.00 dividend on an annualized basis and a dividend yield of 1.7%. This is a positive change from Travelers Companies’s previous quarterly dividend of $1.10. The ex-dividend date is Wednesday, June 10th. Travelers Companies’s dividend payout ratio (DPR) is presently 13.09%.

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.