Garner Asset Management Corp Sells 1,831 Shares of The Travelers Companies, Inc. $TRV

Garner Asset Management Corp trimmed its position in shares of The Travelers Companies, Inc. (NYSE:TRV) by 14.5% during the second quarter, Holdings Channel.com reports. The firm owned 10,768 shares of the insurance provider’s stock after selling 1,831 shares during the period. Travelers Companies accounts for 1.3% of Garner Asset Management Corp’s holdings, making the stock its 22nd biggest position. Garner Asset Management Corp’s holdings in Travelers Companies were worth $2,881,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of TRV. Valeo Financial Advisors LLC grew its position in Travelers Companies by 71,265.9% in the 2nd quarter. Valeo Financial Advisors LLC now owns 3,616,826 shares of the insurance provider’s stock valued at $967,646,000 after purchasing an additional 3,611,758 shares during the period. Nuveen LLC bought a new position in shares of Travelers Companies in the first quarter valued at $294,755,000. JPMorgan Chase & Co. lifted its stake in shares of Travelers Companies by 10.9% in the second quarter. JPMorgan Chase & Co. now owns 7,626,750 shares of the insurance provider’s stock valued at $2,040,475,000 after buying an additional 751,715 shares in the last quarter. Bahl & Gaynor Inc. grew its holdings in shares of Travelers Companies by 41.2% during the first quarter. Bahl & Gaynor Inc. now owns 1,679,275 shares of the insurance provider’s stock valued at $444,101,000 after buying an additional 490,039 shares during the last quarter. Finally, Goldman Sachs Group Inc. increased its position in shares of 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 acquiring an additional 390,104 shares in the last quarter. 82.45% of the stock is currently owned by institutional investors.

Travelers Companies Stock Performance

TRV stock opened at $294.44 on Thursday. The company has a quick ratio of 0.35, a current ratio of 0.35 and a debt-to-equity ratio of 0.29. The firm has a market cap of $65.68 billion, a PE ratio of 11.58, a P/E/G ratio of 2.38 and a beta of 0.55. The business has a 50 day moving average of $277.51 and a 200-day moving average of $270.87. The Travelers Companies, Inc. has a 12-month low of $230.23 and a 12-month high of $296.85.

Travelers Companies (NYSE:TRV) last posted its quarterly earnings data on Thursday, October 16th. The insurance provider reported $8.14 earnings per share for the quarter, topping the consensus estimate of $6.01 by $2.13. The business had revenue of $12.47 billion for the quarter, compared to analysts’ expectations of $11.15 billion. Travelers Companies had a return on equity of 20.28% and a net margin of 12.14%.The business’s revenue was up 4.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $5.24 earnings per share. As a group, sell-side analysts expect that The Travelers Companies, Inc. will post 17.02 earnings per share for the current year.

Travelers Companies Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 31st. Investors of record on Wednesday, December 10th will be issued a $1.10 dividend. This represents a $4.40 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date of this dividend is Wednesday, December 10th. Travelers Companies’s payout ratio is 17.30%.

Wall Street Analyst Weigh In

TRV has been the subject of a number of recent research reports. Weiss Ratings reissued a “buy (b)” rating on shares of Travelers Companies in a report on Tuesday, October 14th. UBS Group raised their target price on Travelers Companies from $284.00 to $287.00 and gave the company a “neutral” rating in a report on Wednesday, October 8th. Zacks Research upgraded Travelers Companies from a “hold” rating to a “strong-buy” rating in a report on Wednesday, October 22nd. Citigroup started coverage on Travelers Companies in a research report on Wednesday, August 13th. They issued a “neutral” rating and a $291.00 price target for the company. Finally, Barclays set a $313.00 price objective on Travelers Companies in a research note on Wednesday, October 8th. Two analysts have rated the stock with a Strong Buy rating, six have given a Buy rating, ten have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Travelers Companies has an average rating of “Hold” and a consensus price target of $292.73.

Insider Activity at Travelers Companies

In related news, Vice Chairman William H. Heyman sold 2,000 shares of the firm’s stock in a transaction dated Wednesday, November 12th. The shares were sold at an average price of $287.50, for a total transaction of $575,000.00. Following the completion of the sale, the insider owned 255,086 shares in the company, valued at approximately $73,337,225. This trade represents a 0.78% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Michael Frederick Klein sold 8,572 shares of Travelers Companies stock in a transaction dated Tuesday, October 28th. The stock was sold at an average price of $270.73, for a total transaction of $2,320,697.56. Following the completion of the sale, the executive vice president directly owned 33,638 shares in the company, valued at approximately $9,106,815.74. This represents a 20.31% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 37,375 shares of company stock worth $10,374,006. 1.46% of the stock is owned by company insiders.

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.