BI Asset Management Fondsmaeglerselskab A S Lowers Position in The Travelers Companies, Inc. $TRV

BI Asset Management Fondsmaeglerselskab A S lessened its position in The Travelers Companies, Inc. (NYSE:TRV) by 6.9% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 121,256 shares of the insurance provider’s stock after selling 8,979 shares during the quarter. BI Asset Management Fondsmaeglerselskab A S’s holdings in Travelers Companies were worth $32,067,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Cornerstone Planning Group LLC raised its stake in Travelers Companies by 700.0% during the first quarter. Cornerstone Planning Group LLC now owns 96 shares of the insurance provider’s stock valued at $25,000 after buying an additional 84 shares during the last quarter. Putney Financial Group LLC purchased a new position in Travelers Companies during the fourth quarter valued at $26,000. Ameriflex Group Inc. purchased a new position in Travelers Companies during the fourth quarter valued at $26,000. Greykasell Wealth Strategies Inc. purchased a new position in Travelers Companies during the first quarter valued at $26,000. Finally, Kapitalo Investimentos Ltda purchased a new position in Travelers Companies during the fourth quarter valued at $30,000. Hedge funds and other institutional investors own 82.45% of the company’s stock.

Travelers Companies Stock Performance

Shares of TRV opened at $265.13 on Tuesday. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.33 and a quick ratio of 0.33. The Travelers Companies, Inc. has a one year low of $215.39 and a one year high of $277.83. The firm has a market capitalization of $59.69 billion, a P/E ratio of 11.73, a PEG ratio of 3.05 and a beta of 0.51. The business has a fifty day moving average of $262.36 and a 200 day moving average of $259.57.

Travelers Companies (NYSE:TRV) last released its quarterly earnings results on Thursday, July 17th. The insurance provider reported $6.51 earnings per share (EPS) 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 business had revenue of $11.54 billion during the quarter, compared to analyst estimates of $11.02 billion. During the same quarter in the previous year, the company posted $2.51 earnings per share. Travelers Companies’s revenue for the quarter was up 7.4% on a year-over-year basis. As a group, sell-side analysts anticipate that The Travelers Companies, Inc. will post 17.02 EPS for the current year.

Travelers Companies Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Wednesday, September 10th will be given a $1.10 dividend. This represents a $4.40 annualized dividend and a dividend yield of 1.7%. The ex-dividend date is Wednesday, September 10th. Travelers Companies’s payout ratio is presently 19.46%.

Analysts Set New Price Targets

A number of research analysts have issued reports on TRV shares. Barclays cut Travelers Companies from an “overweight” rating to an “equal weight” rating and lowered their price objective for the company from $280.00 to $274.00 in a research note on Monday, July 7th. Wall Street Zen cut Travelers Companies from a “buy” rating to a “hold” rating in a research note on Saturday, August 9th. Wells Fargo & Company lifted their price objective on Travelers Companies from $264.00 to $275.00 and gave the company an “equal weight” rating in a research note on Friday, July 18th. Morgan Stanley set a $269.00 price objective on Travelers Companies and gave the company an “equal weight” rating in a research note on Monday, May 19th. Finally, Cantor Fitzgerald raised Travelers Companies to a “strong-buy” rating in a report on Wednesday, August 13th. Two investment analysts have rated the stock with a sell rating, eleven have given a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $284.56.

Insiders Place Their Bets

In other news, CFO Daniel S. Frey sold 20,286 shares of the business’s stock in a transaction dated Thursday, May 29th. The stock was sold at an average price of $273.48, for a total value of $5,547,815.28. Following the transaction, the chief financial officer directly owned 26,932 shares in the company, valued at $7,365,363.36. The trade was a 42.96% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Avrohom J. Kess sold 23,434 shares of the business’s stock in a transaction dated Thursday, May 29th. The shares were sold at an average price of $273.93, for a total value of $6,419,275.62. Following the completion of the transaction, the insider owned 48,387 shares in the company, valued at $13,254,650.91. The trade was a 32.63% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 175,374 shares of company stock valued at $47,929,912. Insiders own 1.46% of the company’s stock.

Travelers Companies Profile

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.