Legacy Trust Decreases Stake in The Travelers Companies, Inc. $TRV

Legacy Trust lessened its stake in The Travelers Companies, Inc. (NYSE:TRV) by 8.4% in the second quarter, HoldingsChannel.com reports. The firm owned 963 shares of the insurance provider’s stock after selling 88 shares during the quarter. Legacy Trust’s holdings in Travelers Companies were worth $258,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in TRV. Nuveen LLC acquired a new stake in shares of Travelers Companies during the 1st quarter valued at approximately $294,755,000. Bahl & Gaynor Inc. increased its stake in Travelers Companies by 41.2% in the 1st quarter. Bahl & Gaynor Inc. now owns 1,679,275 shares of the insurance provider’s stock valued at $444,101,000 after purchasing an additional 490,039 shares in the last quarter. Goldman Sachs Group Inc. raised its holdings in Travelers Companies by 25.3% during the first quarter. Goldman Sachs Group Inc. now owns 1,934,625 shares of the insurance provider’s stock worth $511,631,000 after purchasing an additional 390,104 shares during the last quarter. Robeco Institutional Asset Management B.V. boosted its position in Travelers Companies by 86.5% during the second quarter. Robeco Institutional Asset Management B.V. now owns 738,901 shares of the insurance provider’s stock worth $197,686,000 after purchasing an additional 342,666 shares in the last quarter. Finally, AQR Capital Management LLC grew its holdings in Travelers Companies by 24.0% in the first quarter. AQR Capital Management LLC now owns 1,431,736 shares of the insurance provider’s stock valued at $377,921,000 after purchasing an additional 276,850 shares during the last quarter. Institutional investors and hedge funds own 82.45% of the company’s stock.

Insider Activity

In other Travelers Companies news, EVP Mojgan M. Lefebvre sold 16,820 shares of the firm’s stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $277.54, for a total value of $4,668,222.80. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Gregory C. Toczydlowski sold 11,505 shares of the company’s stock in a transaction dated Monday, July 21st. The shares were sold at an average price of $266.12, for a total transaction of $3,061,710.60. Following the transaction, the executive vice president directly owned 18,416 shares of the company’s stock, valued at approximately $4,900,865.92. This represents a 38.45% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.46% of the company’s stock.

Analysts Set New Price Targets

TRV has been the subject of several research reports. Wells Fargo & Company lifted their price target on Travelers Companies from $264.00 to $275.00 and gave the stock an “equal weight” rating in a research note on Friday, July 18th. Weiss Ratings restated a “buy (b+)” rating on shares of Travelers Companies in a research report on Saturday, September 27th. Keefe, Bruyette & Woods increased their price target on shares of Travelers Companies from $304.00 to $316.00 and gave the company an “outperform” rating in a research report on Friday, July 18th. Wolfe Research began coverage on shares of Travelers Companies in a research note on Monday, September 15th. They set a “peer perform” rating for the company. Finally, Evercore ISI reaffirmed an “outperform” rating on shares of Travelers Companies in a research note on Wednesday. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, eleven have given a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $284.56.

Travelers Companies Stock Performance

Shares of TRV opened at $284.93 on Friday. The Travelers Companies, Inc. has a 1 year low of $224.62 and a 1 year high of $286.17. The company’s 50 day simple moving average is $271.60 and its 200 day simple moving average is $265.48. The company has a market capitalization of $64.15 billion, a price-to-earnings ratio of 12.60, a PEG ratio of 3.27 and a beta of 0.51. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.33 and a current ratio of 0.33.

Travelers Companies (NYSE:TRV) last issued its quarterly earnings results on Thursday, July 17th. The insurance provider reported $6.51 earnings per share for the quarter, beating the consensus estimate of $3.52 by $2.99. Travelers Companies had a return on equity of 18.68% and a net margin of 10.97%.The company had revenue of $11.54 billion during the quarter, compared to the consensus estimate of $11.02 billion. During the same period in the previous year, the firm posted $2.51 EPS. Travelers Companies’s revenue was up 7.4% on a year-over-year basis. On average, sell-side analysts predict that The Travelers Companies, Inc. will post 17.02 EPS for the current year.

Travelers Companies Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Wednesday, September 10th were given a dividend of $1.10 per share. The ex-dividend date was Wednesday, September 10th. This represents a $4.40 annualized dividend and a yield of 1.5%. Travelers Companies’s dividend payout ratio is 19.46%.

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.