Penobscot Investment Management Company Inc. Has $6.10 Million Holdings in The Travelers Companies, Inc. (NYSE:TRV)

Penobscot Investment Management Company Inc. cut its stake in shares of The Travelers Companies, Inc. (NYSE:TRV) by 1.8% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 23,056 shares of the insurance provider’s stock after selling 431 shares during the period. Penobscot Investment Management Company Inc.’s holdings in Travelers Companies were worth $6,097,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Ameriflex Group Inc. acquired a new stake in Travelers Companies during the fourth quarter worth approximately $26,000. Putney Financial Group LLC acquired a new stake in Travelers Companies during the fourth quarter worth approximately $26,000. Kapitalo Investimentos Ltda acquired a new stake in Travelers Companies during the fourth quarter worth approximately $30,000. Wood Tarver Financial Group LLC acquired a new stake in Travelers Companies during the fourth quarter worth approximately $33,000. Finally, Generali Investments Management Co LLC acquired a new stake in Travelers Companies during the fourth quarter worth approximately $37,000. 82.45% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on TRV shares. Hsbc Global Res downgraded shares of Travelers Companies from a “strong-buy” rating to a “hold” rating in a research report on Monday, March 24th. Jefferies Financial Group raised their price objective on shares of Travelers Companies from $265.00 to $270.00 and gave the stock a “hold” rating in a research report on Friday, April 11th. HSBC downgraded shares of Travelers Companies from a “buy” rating to a “hold” rating and set a $270.00 price objective for the company. in a research report on Monday, March 24th. Keefe, Bruyette & Woods raised their target price on shares of Travelers Companies from $290.00 to $303.00 and gave the stock an “outperform” rating in a report on Wednesday, May 28th. Finally, Wall Street Zen raised shares of Travelers Companies from a “hold” rating to a “buy” rating in a report on Tuesday, May 13th. Three analysts have rated the stock with a sell rating, eleven have issued a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $271.11.

Insider Buying and Selling at Travelers Companies

In other Travelers Companies news, CEO Alan D. Schnitzer sold 35,456 shares of the business’s stock in a transaction on Thursday, May 29th. The shares were sold at an average price of $273.78, for a total transaction of $9,707,143.68. Following the sale, the chief executive officer now owns 262,329 shares of the company’s stock, valued at approximately $71,820,433.62. The trade was a 11.91% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Jeffrey P. Klenk sold 15,180 shares of the business’s stock in a transaction on Thursday, May 29th. The stock was sold at an average price of $272.87, for a total transaction of $4,142,166.60. Following the sale, the executive vice president now directly owns 6,075 shares in the company, valued at approximately $1,657,685.25. The trade was a 71.42% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 163,869 shares of company stock worth $44,868,201 over the last three months. Corporate insiders own 1.46% of the company’s stock.

Travelers Companies Stock Down 2.0%

Shares of TRV opened at $260.70 on Thursday. The Travelers Companies, Inc. has a one year low of $200.21 and a one year high of $277.83. The company has a market cap of $58.88 billion, a P/E ratio of 14.19, a P/E/G ratio of 3.89 and a beta of 0.53. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.33 and a quick ratio of 0.33. The firm has a 50 day simple moving average of $267.01 and a two-hundred day simple moving average of $254.31.

Travelers Companies (NYSE:TRV) last announced its quarterly earnings data on Wednesday, April 16th. The insurance provider reported $1.91 EPS for the quarter, beating the consensus estimate of $0.53 by $1.38. Travelers Companies had a net margin of 9.09% and a return on equity of 16.10%. The business had revenue of $10.52 billion during the quarter, compared to the consensus estimate of $10.97 billion. During the same period in the previous year, the business earned $4.69 earnings per share. Research analysts forecast that The Travelers Companies, Inc. will post 17.02 EPS for the current fiscal year.

Travelers Companies Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Tuesday, June 10th will be given a dividend of $1.10 per share. This is an increase from Travelers Companies’s previous quarterly dividend of $1.05. This represents a $4.40 annualized dividend and a yield of 1.69%. The ex-dividend date is Tuesday, June 10th. Travelers Companies’s payout ratio is currently 23.95%.

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.