Conning Inc. Trims Stake in The Travelers Companies, Inc. $TRV

Conning Inc. cut its position in The Travelers Companies, Inc. (NYSE:TRV) by 8.3% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 126,386 shares of the insurance provider’s stock after selling 11,471 shares during the quarter. Conning Inc.’s holdings in Travelers Companies were worth $33,813,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in TRV. Brighton Jones LLC boosted its position in shares of Travelers Companies by 13.4% in the 4th quarter. Brighton Jones LLC now owns 3,277 shares of the insurance provider’s stock valued at $789,000 after purchasing an additional 387 shares during the period. Revolve Wealth Partners LLC acquired a new stake in shares of Travelers Companies in the 4th quarter valued at about $276,000. Farther Finance Advisors LLC boosted its position in shares of Travelers Companies by 40.3% in the 1st quarter. Farther Finance Advisors LLC now owns 3,653 shares of the insurance provider’s stock valued at $966,000 after purchasing an additional 1,049 shares during the period. GAMMA Investing LLC boosted its position in shares of Travelers Companies by 18.1% in the 1st quarter. GAMMA Investing LLC now owns 8,332 shares of the insurance provider’s stock valued at $2,203,000 after purchasing an additional 1,277 shares during the period. Finally, Simon Quick Advisors LLC boosted its position in shares of Travelers Companies by 65.7% in the 1st quarter. Simon Quick Advisors LLC now owns 2,570 shares of the insurance provider’s stock valued at $680,000 after purchasing an additional 1,019 shares during the period. 82.45% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Travelers Companies

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

Analysts Set New Price Targets

TRV has been the subject of a number of research analyst reports. Weiss Ratings reissued a “buy (b+)” rating on shares of Travelers Companies in a research report on Saturday, September 27th. Keefe, Bruyette & Woods upped their target price on 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 Travelers Companies in a research note on Monday, September 15th. They set a “peer perform” rating for the company. JPMorgan Chase & Co. upped their price objective on Travelers Companies from $289.00 to $297.00 and gave the company an “underweight” rating in a research note on Thursday. Finally, Evercore ISI reaffirmed an “outperform” rating on shares of Travelers Companies in a research note on Wednesday, October 1st. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, eleven have given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $290.11.

Travelers Companies Stock Performance

NYSE TRV opened at $269.92 on Friday. The company has a current ratio of 0.33, a quick ratio of 0.33 and a debt-to-equity ratio of 0.27. The business’s 50 day moving average is $273.66 and its two-hundred day moving average is $266.13. The Travelers Companies, Inc. has a 12-month low of $230.23 and a 12-month high of $287.95. The stock has a market capitalization of $60.77 billion, a price-to-earnings ratio of 11.94, a PEG ratio of 3.13 and a beta of 0.51.

Travelers Companies (NYSE:TRV) last released its earnings results on Thursday, July 17th. The insurance provider reported $6.51 earnings per share (EPS) for the quarter, topping 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 for the quarter, compared to analysts’ expectations of $11.02 billion. During the same quarter in the previous year, the firm posted $2.51 EPS. The firm’s quarterly revenue was up 7.4% on a year-over-year basis. Research analysts expect that The Travelers Companies, Inc. will post 17.02 EPS for the current year.

Travelers Companies Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Wednesday, September 10th were paid a $1.10 dividend. This represents a $4.40 annualized dividend and a yield of 1.6%. The ex-dividend date of this dividend was Wednesday, September 10th. Travelers Companies’s dividend payout ratio (DPR) is presently 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.