Envestnet Asset Management Inc. Cuts Stake in The Travelers Companies, Inc. $TRV

Envestnet Asset Management Inc. cut its stake in The Travelers Companies, Inc. (NYSE:TRV) by 12.3% during the third quarter, HoldingsChannel reports. The institutional investor owned 618,565 shares of the insurance provider’s stock after selling 86,924 shares during the quarter. Envestnet Asset Management Inc.’s holdings in Travelers Companies were worth $172,716,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. lifted its position in shares of Travelers Companies by 1.4% in the second quarter. Vanguard Group Inc. now owns 22,047,005 shares of the insurance provider’s stock valued at $5,898,456,000 after acquiring an additional 313,449 shares in the last quarter. JPMorgan Chase & Co. increased its position in shares of Travelers Companies by 10.9% during the second quarter. JPMorgan Chase & Co. now owns 7,626,750 shares of the insurance provider’s stock worth $2,040,475,000 after purchasing an additional 751,715 shares in the last quarter. Geode Capital Management LLC raised its stake in Travelers Companies by 1.0% in the 2nd quarter. Geode Capital Management LLC now owns 5,541,819 shares of the insurance provider’s stock valued at $1,481,805,000 after purchasing an additional 54,363 shares during the last quarter. Norges Bank purchased a new position in Travelers Companies in the 2nd quarter valued at $815,013,000. Finally, Invesco Ltd. lifted its holdings in Travelers Companies by 14.4% in the 2nd quarter. Invesco Ltd. now owns 1,547,778 shares of the insurance provider’s stock valued at $414,093,000 after purchasing an additional 194,698 shares in the last quarter. 82.45% of the stock is currently owned by institutional investors and hedge funds.

Travelers Companies Price Performance

Travelers Companies stock opened at $301.80 on Friday. The company has a current ratio of 0.33, a quick ratio of 0.35 and a debt-to-equity ratio of 0.28. The company has a 50-day moving average price of $284.82 and a 200 day moving average price of $277.82. The Travelers Companies, Inc. has a 12-month low of $230.43 and a 12-month high of $304.40. The stock has a market cap of $67.32 billion, a P/E ratio of 10.96, a PEG ratio of 2.78 and a beta of 0.51.

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

Travelers Companies announced that its board has initiated a share repurchase plan on Wednesday, January 21st that authorizes the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization authorizes the insurance provider to repurchase up to 8.3% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s board believes its shares are undervalued.

Travelers Companies Announces Dividend

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

Insiders Place Their Bets

In related news, EVP Jeffrey P. Klenk sold 16,712 shares of the firm’s stock in a transaction dated Friday, January 23rd. The stock was sold at an average price of $279.77, for a total transaction of $4,675,516.24. Following the completion of the sale, the executive vice president directly owned 6,075 shares of the company’s stock, valued at approximately $1,699,602.75. This trade represents a 73.34% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Maria Olivo sold 8,920 shares of the business’s stock in a transaction dated Wednesday, November 26th. The shares were sold at an average price of $295.73, for a total transaction of $2,637,911.60. Following the completion of the sale, the executive vice president owned 117,596 shares in the company, valued at approximately $34,776,665.08. This trade represents a 7.05% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 85,168 shares of company stock worth $24,835,002 in the last three months. 1.46% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on TRV shares. Mizuho dropped 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. Cantor Fitzgerald boosted their price target on shares of Travelers Companies from $316.00 to $319.00 and gave the stock an “overweight” rating in a research report on Monday, February 2nd. Weiss Ratings cut shares of Travelers Companies from a “buy (a-)” rating to a “buy (b+)” rating in a research note on Monday, January 26th. Keefe, Bruyette & Woods raised their target price on shares of Travelers Companies from $317.00 to $320.00 and gave the stock an “outperform” rating in a research note on Friday, January 23rd. Finally, Morgan Stanley boosted their target price on Travelers Companies from $285.00 to $295.00 and gave the stock an “equal weight” rating in a report on Monday, November 17th. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, ten have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $303.00.

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.