Kovitz Investment Group Partners LLC Reduces Position in The Travelers Companies, Inc. $TRV

Kovitz Investment Group Partners LLC cut its stake in shares of The Travelers Companies, Inc. (NYSE:TRV) by 2.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 132,629 shares of the insurance provider’s stock after selling 2,701 shares during the quarter. Travelers Companies makes up approximately 0.9% of Kovitz Investment Group Partners LLC’s holdings, making the stock its 24th biggest position. Kovitz Investment Group Partners LLC owned about 0.06% of Travelers Companies worth $38,471,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of TRV. Arbejdsmarkedets Tillaegspension bought a new stake in Travelers Companies in the fourth quarter worth $24,167,000. Elo Mutual Pension Insurance Co lifted its holdings in shares of Travelers Companies by 24.9% in the 3rd quarter. Elo Mutual Pension Insurance Co now owns 34,871 shares of the insurance provider’s stock worth $9,737,000 after buying an additional 6,954 shares during the period. Rit Capital Partners PLC bought a new position in shares of Travelers Companies during the fourth quarter valued at approximately $39,450,000. Robeco Institutional Asset Management B.V. grew its stake in Travelers Companies by 17.3% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 901,938 shares of the insurance provider’s stock valued at $261,616,000 after purchasing an additional 133,152 shares during the last quarter. Finally, AIA Group Ltd acquired a new position in shares of Travelers Companies during the third quarter worth $1,773,000. Institutional investors own 82.45% of the company’s stock.

Wall Street Analyst Weigh In

TRV has been the subject of several research analyst reports. Roth Mkm reaffirmed a “buy” rating on shares of Travelers Companies in a research report on Monday, April 20th. Brean Capital started coverage on shares of Travelers Companies in a research note on Thursday, March 12th. They set a “neutral” rating on the stock. BMO Capital Markets raised their price target on shares of Travelers Companies from $297.00 to $314.00 and gave the stock an “outperform” rating in a report on Monday, April 20th. Wells Fargo & Company lifted their price objective on shares of Travelers Companies from $285.00 to $305.00 and gave the stock an “equal weight” rating in a research note on Thursday, April 9th. Finally, Keefe, Bruyette & Woods boosted their price objective 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 equities research analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating, ten have issued a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $309.07.

Insider Transactions at Travelers Companies

In other Travelers Companies news, insider Avrohom J. Kess sold 6,735 shares of the company’s stock in a transaction on Tuesday, April 28th. The shares were sold at an average price of $308.78, for a total value of $2,079,633.30. Following the sale, the insider directly owned 48,737 shares of the company’s stock, valued at approximately $15,049,010.86. This represents a 12.14% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Michael Frederick Klein sold 10,000 shares of the stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $307.65, for a total value of $3,076,500.00. Following the sale, the executive vice president directly owned 45,125 shares in the company, valued at $13,882,706.25. This represents a 18.14% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 37,573 shares of company stock valued at $11,504,146. 1.39% of the stock is owned by corporate insiders.

Travelers Companies Trading Up 0.5%

Travelers Companies stock opened at $307.48 on Friday. The stock has a 50-day moving average price of $301.23 and a 200 day moving average price of $294.90. The company has a market capitalization of $65.39 billion, a price-to-earnings ratio of 9.15, a price-to-earnings-growth ratio of 2.76 and a beta of 0.48. The Travelers Companies, Inc. has a 52 week low of $249.19 and a 52 week high of $313.12. The company has a quick ratio of 0.35, a current ratio of 0.35 and a debt-to-equity ratio of 0.29.

Travelers Companies (NYSE:TRV) last issued its quarterly earnings results on Thursday, April 16th. The insurance provider reported $7.71 earnings per share for the quarter, topping the consensus estimate of $6.80 by $0.91. Travelers Companies had a net margin of 15.54% and a return on equity of 24.06%. The company had revenue of $11.92 billion for the quarter, compared to the consensus estimate of $11.11 billion. During the same quarter in the prior year, the company earned $1.91 EPS. Travelers Companies’s quarterly revenue was down 1.7% on a year-over-year basis. Sell-side analysts anticipate that The Travelers Companies, Inc. will post 28 EPS for the current year.

Travelers Companies Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Wednesday, June 10th will be paid a $1.25 dividend. The ex-dividend date is Wednesday, June 10th. This is an increase from Travelers Companies’s previous quarterly dividend of $1.10. This represents a $5.00 dividend on an annualized basis and a dividend yield of 1.6%. Travelers Companies’s dividend payout ratio (DPR) is currently 14.88%.

About Travelers Companies

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.