Verition Fund Management LLC Has $72.06 Million Stock Holdings in The Travelers Companies, Inc. $TRV

Verition Fund Management LLC lessened its holdings in shares of The Travelers Companies, Inc. (NYSE:TRV) by 3.2% during the fourth quarter, Holdings Channel.com reports. The firm owned 248,444 shares of the insurance provider’s stock after selling 8,343 shares during the quarter. Travelers Companies makes up 0.3% of Verition Fund Management LLC’s investment portfolio, making the stock its 22nd biggest holding. Verition Fund Management LLC’s holdings in Travelers Companies were worth $72,064,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the business. Osterweis Capital Management Inc. raised its position in Travelers Companies by 1,820.0% during the 2nd quarter. Osterweis Capital Management Inc. now owns 96 shares of the insurance provider’s stock worth $26,000 after purchasing an additional 91 shares during the last quarter. Kohmann Bosshard Financial Services LLC acquired a new position in Travelers Companies during the 4th quarter worth about $28,000. Entrust Financial LLC bought a new stake in shares of Travelers Companies in the 4th quarter valued at about $31,000. Navalign LLC acquired a new stake in shares of Travelers Companies in the fourth quarter valued at about $35,000. Finally, Wilkerson Advisory Group LLC acquired a new stake in shares of Travelers Companies in the fourth quarter valued at about $35,000. Institutional investors own 82.45% of the company’s stock.

Insiders Place Their Bets

In other news, insider Avrohom J. Kess sold 6,735 shares of the stock in a transaction dated Tuesday, April 28th. The shares were sold at an average price of $308.78, for a total value of $2,079,633.30. Following the completion of the sale, the insider owned 48,737 shares in the company, valued at $15,049,010.86. This represents a 12.14% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Diane Kurtzman sold 2,867 shares of Travelers Companies stock in a transaction on Monday, April 20th. The stock was sold at an average price of $303.45, for a total value of $869,991.15. Following the sale, the executive vice president owned 5,298 shares in the company, valued at $1,607,678.10. The trade was a 35.11% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 37,573 shares of company stock worth $11,504,146 in the last three months. 1.39% of the stock is owned by corporate insiders.

Travelers Companies Trading Up 0.1%

NYSE:TRV opened at $304.62 on Monday. The Travelers Companies, Inc. has a 12 month low of $249.19 and a 12 month high of $313.12. The company has a current ratio of 0.35, a quick ratio of 0.35 and a debt-to-equity ratio of 0.29. The stock has a market capitalization of $64.78 billion, a price-to-earnings ratio of 9.06, a PEG ratio of 2.75 and a beta of 0.48. The firm has a fifty day simple moving average of $300.22 and a two-hundred day simple moving average of $294.54.

Travelers Companies (NYSE:TRV) last released its quarterly earnings data on Thursday, April 16th. The insurance provider reported $7.71 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $6.80 by $0.91. Travelers Companies had a net margin of 15.54% and a return on equity of 24.06%. The company had revenue of $11.92 billion for the quarter, compared to analysts’ expectations of $11.11 billion. During the same quarter in the prior year, the firm earned $1.91 EPS. The business’s revenue was down 1.7% on a year-over-year basis. Analysts expect that The Travelers Companies, Inc. will post 28 EPS for the current fiscal year.

Travelers Companies Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Wednesday, June 10th will be issued a dividend of $1.25 per share. This represents a $5.00 annualized dividend and a yield of 1.6%. This is an increase from Travelers Companies’s previous quarterly dividend of $1.10. The ex-dividend date is Wednesday, June 10th. Travelers Companies’s dividend payout ratio is currently 14.88%.

Analyst Upgrades and Downgrades

TRV has been the topic of a number of recent analyst reports. Wells Fargo & Company lifted their price objective on Travelers Companies from $285.00 to $305.00 and gave the stock an “equal weight” rating in a research note on Thursday, April 9th. JPMorgan Chase & Co. upgraded Travelers Companies from an “underweight” rating to a “neutral” rating and upped their target price for the company from $316.00 to $322.00 in a report on Tuesday, May 26th. Brean Capital began coverage on shares of Travelers Companies in a research report on Thursday, March 12th. They set a “neutral” rating for the company. Weiss Ratings restated a “buy (a-)” rating on shares of Travelers Companies in a research report on Friday, May 8th. Finally, Seaport Research Partners set a $322.00 price objective on shares of Travelers Companies in a research note on Tuesday, May 26th. Two research analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating, ten have issued a Hold rating and three have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $309.07.

Travelers Companies Company 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.