Rakuten Investment Management Inc. Sells 371,868 Shares of The Travelers Companies, Inc. $TRV

Rakuten Investment Management Inc. cut its stake in The Travelers Companies, Inc. (NYSE:TRV) by 92.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 29,432 shares of the insurance provider’s stock after selling 371,868 shares during the period. Rakuten Investment Management Inc.’s holdings in Travelers Companies were worth $8,592,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the stock. Norges Bank acquired a new position in Travelers Companies in the fourth quarter valued at approximately $723,339,000. State Street Corp lifted its stake in Travelers Companies by 3.1% in the fourth quarter. State Street Corp now owns 16,000,457 shares of the insurance provider’s stock valued at $4,641,093,000 after buying an additional 486,861 shares during the period. AustralianSuper Pty Ltd lifted its stake in Travelers Companies by 102.0% in the fourth quarter. AustralianSuper Pty Ltd now owns 908,559 shares of the insurance provider’s stock valued at $263,537,000 after buying an additional 458,746 shares during the period. Woodline Partners LP acquired a new position in Travelers Companies in the third quarter valued at approximately $99,680,000. Finally, AQR Capital Management LLC lifted its stake in Travelers Companies by 22.8% in the third quarter. AQR Capital Management LLC now owns 1,785,288 shares of the insurance provider’s stock valued at $496,872,000 after buying an additional 331,170 shares during the period. 82.45% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on TRV. Weiss Ratings reissued a “buy (a-)” rating on shares of Travelers Companies in a research note on Friday, May 8th. Brean Capital started coverage on Travelers Companies in a research report on Thursday, March 12th. They set a “neutral” rating on the stock. Keefe, Bruyette & Woods upped their target price on Travelers Companies from $340.00 to $342.00 and gave the stock an “outperform” rating in a research report on Monday, April 20th. Evercore reaffirmed an “outperform” rating on shares of Travelers Companies in a research report on Friday, April 17th. Finally, Roth Mkm reaffirmed a “buy” rating on shares of Travelers Companies in a research 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 given a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat.com, Travelers Companies has an average rating of “Hold” and a consensus price target of $309.07.

Travelers Companies Stock Performance

NYSE TRV opened at $307.78 on Wednesday. The Travelers Companies, Inc. has a 1 year low of $249.19 and a 1 year high of $313.12. 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 firm has a market cap of $65.45 billion, a price-to-earnings ratio of 9.16, a PEG ratio of 2.76 and a beta of 0.48. The company has a fifty day moving average price of $300.75 and a 200-day moving average price of $294.73.

Travelers Companies (NYSE:TRV) last posted its earnings results on Thursday, April 16th. The insurance provider reported $7.71 earnings per share (EPS) 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 firm had revenue of $11.92 billion during the quarter, compared to analyst estimates of $11.11 billion. During the same quarter in the prior year, the business posted $1.91 EPS. The business’s revenue was down 1.7% compared to the same quarter last year. As a group, equities research analysts predict that The Travelers Companies, Inc. will post 28 EPS for the current fiscal year.

Travelers Companies Increases Dividend

The company also recently announced 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. This represents a $5.00 annualized dividend and a dividend yield of 1.6%. The ex-dividend date is Wednesday, June 10th. This is a positive change from Travelers Companies’s previous quarterly dividend of $1.10. Travelers Companies’s dividend payout ratio (DPR) is currently 14.88%.

Insider Transactions at Travelers Companies

In other news, EVP Jeffrey P. Klenk sold 6,414 shares of the company’s stock in a transaction on Monday, April 20th. The shares were sold at an average price of $305.06, for a total value of $1,956,654.84. Following the completion of the sale, the executive vice president owned 6,075 shares in the company, valued at $1,853,239.50. This represents a 51.36% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Michael Frederick Klein sold 10,000 shares of the company’s stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $307.65, for a total transaction of $3,076,500.00. Following the completion of the sale, the executive vice president owned 45,125 shares of the company’s stock, valued at approximately $13,882,706.25. The trade was a 18.14% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 37,573 shares of company stock worth $11,504,146. 1.39% of the stock is owned by insiders.

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.