Cornerstone Advisors LLC Trims Position in The Travelers Companies, Inc. $TRV

Cornerstone Advisors LLC decreased its position in The Travelers Companies, Inc. (NYSE:TRV) by 32.6% during the third quarter, Holdings Channel reports. The fund owned 6,200 shares of the insurance provider’s stock after selling 3,000 shares during the period. Cornerstone Advisors LLC’s holdings in Travelers Companies were worth $1,731,000 as of its most recent filing with the SEC.

A number of other large investors have also made changes to their positions in TRV. Osterweis Capital Management Inc. boosted its holdings in shares of Travelers Companies by 1,820.0% in the second quarter. Osterweis Capital Management Inc. now owns 96 shares of the insurance provider’s stock worth $26,000 after buying an additional 91 shares during the last quarter. Barnes Dennig Private Wealth Management LLC increased its holdings in Travelers Companies by 134.1% during the third quarter. Barnes Dennig Private Wealth Management LLC now owns 96 shares of the insurance provider’s stock valued at $27,000 after buying an additional 55 shares during the last quarter. Delos Wealth Advisors LLC bought a new position in Travelers Companies in the second quarter worth approximately $27,000. Clayton Financial Group LLC purchased a new position in shares of Travelers Companies during the 3rd quarter worth $28,000. Finally, Quaker Wealth Management LLC grew its position in shares of Travelers Companies by 200.0% during the 2nd quarter. Quaker Wealth Management LLC now owns 104 shares of the insurance provider’s stock valued at $28,000 after acquiring an additional 208 shares during the period. 82.45% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently commented on TRV shares. Keefe, Bruyette & Woods raised their target price on Travelers Companies from $320.00 to $340.00 and gave the stock an “outperform” rating in a report on Thursday. Argus raised Travelers Companies to a “strong-buy” rating in a research note on Monday, January 26th. Zacks Research downgraded Travelers Companies from a “strong-buy” rating to a “hold” rating in a research note on Monday, December 22nd. Mizuho reduced their target price on shares of Travelers Companies from $315.00 to $304.00 and set a “neutral” rating for the company in a report on Thursday, January 22nd. Finally, Jefferies Financial Group raised shares of Travelers Companies to a “hold” rating in a report on Tuesday, January 6th. Two analysts have rated the stock with a Strong Buy rating, five have given a Buy rating, ten have given a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, Travelers Companies currently has an average rating of “Hold” and an average target price of $304.33.

Insider Buying and Selling at Travelers Companies

In other Travelers Companies news, CEO Alan D. Schnitzer sold 55,733 shares of the business’s stock in a transaction that occurred on Wednesday, February 4th. The stock was sold at an average price of $294.70, for a total transaction of $16,424,515.10. Following the sale, the chief executive officer directly owned 260,329 shares of the company’s stock, valued at $76,718,956.30. The trade was a 17.63% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Maria Olivo sold 10,400 shares of the company’s stock in a transaction that occurred on Friday, February 6th. The shares were sold at an average price of $300.75, for a total value of $3,127,800.00. Following the sale, the executive vice president owned 117,596 shares in the company, valued at approximately $35,366,997. This trade represents a 8.13% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 101,765 shares of company stock valued at $29,877,543 over the last quarter. 1.46% of the stock is owned by corporate insiders.

Travelers Companies Stock Down 0.3%

Shares of TRV opened at $298.34 on Thursday. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.33 and a quick ratio of 0.33. The stock has a market capitalization of $64.51 billion, a price-to-earnings ratio of 10.84, a price-to-earnings-growth ratio of 2.79 and a beta of 0.51. The Travelers Companies, Inc. has a 1 year low of $230.43 and a 1 year high of $304.40. The business’s 50 day simple moving average is $287.01 and its 200-day simple moving average is $279.95.

Travelers Companies (NYSE:TRV) last announced its quarterly earnings results on Wednesday, January 21st. The insurance provider reported $11.13 earnings per share for the quarter, topping the consensus estimate of $8.34 by $2.79. Travelers Companies had a net margin of 12.88% and a return on equity of 20.70%. The company had revenue of $12.43 billion for the quarter, compared to analysts’ expectations of $11.13 billion. During the same quarter in the previous year, the business posted $9.15 earnings per share. Travelers Companies’s quarterly revenue was up 3.5% on a year-over-year basis. As a group, equities analysts expect that The Travelers Companies, Inc. will post 17.02 earnings per share for the current fiscal year.

Travelers Companies Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Tuesday, March 10th will be given a dividend of $1.10 per share. This represents a $4.40 annualized dividend and a dividend yield of 1.5%. The ex-dividend date is Tuesday, March 10th. Travelers Companies’s dividend payout ratio is currently 15.98%.

Travelers Companies declared that its Board of Directors has initiated a stock buyback plan on Wednesday, January 21st that allows the company to buyback $5.00 billion in shares. This buyback authorization allows the insurance provider to reacquire up to 8.3% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s board of directors believes its shares are undervalued.

Travelers Companies Profile

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.