Tower Bridge Advisors Cuts Stock Position in The Travelers Companies, Inc. (NYSE:TRV)

Tower Bridge Advisors lessened its position in The Travelers Companies, Inc. (NYSE:TRV) by 1.8% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 10,953 shares of the insurance provider’s stock after selling 200 shares during the quarter. Tower Bridge Advisors’ holdings in Travelers Companies were worth $2,564,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of TRV. Acadian Asset Management LLC raised its holdings in shares of Travelers Companies by 356.4% in the 2nd quarter. Acadian Asset Management LLC now owns 868,563 shares of the insurance provider’s stock valued at $176,589,000 after buying an additional 678,241 shares during the period. International Assets Investment Management LLC grew its stake in Travelers Companies by 23,378.8% during the 3rd quarter. International Assets Investment Management LLC now owns 520,291 shares of the insurance provider’s stock worth $121,811,000 after purchasing an additional 518,075 shares in the last quarter. Zurich Insurance Group Ltd FI acquired a new position in Travelers Companies during the 1st quarter worth $88,190,000. Renaissance Technologies LLC grew its stake in Travelers Companies by 324.9% during the 2nd quarter. Renaissance Technologies LLC now owns 301,584 shares of the insurance provider’s stock worth $61,324,000 after purchasing an additional 230,612 shares in the last quarter. Finally, Boston Partners grew its stake in Travelers Companies by 16.4% during the 1st quarter. Boston Partners now owns 1,388,019 shares of the insurance provider’s stock worth $319,348,000 after purchasing an additional 196,011 shares in the last quarter. Hedge funds and other institutional investors own 82.45% of the company’s stock.

Travelers Companies Stock Up 1.7 %

TRV opened at $260.82 on Friday. The business has a 50 day moving average price of $244.44 and a two-hundred day moving average price of $224.40. The company has a quick ratio of 0.34, a current ratio of 0.34 and a debt-to-equity ratio of 0.29. The company has a market cap of $59.21 billion, a PE ratio of 13.38, a P/E/G ratio of 1.25 and a beta of 0.62. The Travelers Companies, Inc. has a 52 week low of $169.18 and a 52 week high of $269.55.

Travelers Companies (NYSE:TRV) last posted its quarterly earnings data on Thursday, October 17th. The insurance provider reported $5.24 EPS for the quarter, beating the consensus estimate of $3.79 by $1.45. The firm had revenue of $11.90 billion during the quarter, compared to the consensus estimate of $11.46 billion. Travelers Companies had a return on equity of 17.69% and a net margin of 10.02%. The firm’s revenue was up 11.9% compared to the same quarter last year. During the same period in the prior year, the business earned $1.95 EPS. As a group, research analysts anticipate that The Travelers Companies, Inc. will post 18.64 EPS for the current year.

Travelers Companies Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Tuesday, December 10th will be paid a dividend of $1.05 per share. This represents a $4.20 annualized dividend and a yield of 1.61%. The ex-dividend date is Tuesday, December 10th. Travelers Companies’s dividend payout ratio is presently 21.54%.

Wall Street Analyst Weigh In

TRV has been the subject of several analyst reports. Barclays boosted their target price on Travelers Companies from $286.00 to $295.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 23rd. Deutsche Bank Aktiengesellschaft boosted their target price on Travelers Companies from $221.00 to $234.00 and gave the stock a “hold” rating in a research note on Wednesday, August 7th. Piper Sandler lowered their target price on Travelers Companies from $213.00 to $207.00 and set a “neutral” rating for the company in a research note on Monday, July 22nd. Keefe, Bruyette & Woods boosted their target price on Travelers Companies from $245.00 to $273.00 and gave the stock a “market perform” rating in a research note on Tuesday, October 22nd. Finally, Wells Fargo & Company upped their price objective on Travelers Companies from $207.00 to $256.00 and gave the stock an “equal weight” rating in a research report on Monday, October 21st. Four analysts have rated the stock with a sell rating, thirteen have given a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $247.90.

Insider Buying and Selling at Travelers Companies

In other news, EVP Andy F. Bessette sold 4,520 shares of the firm’s stock in a transaction that occurred on Monday, October 28th. The stock was sold at an average price of $253.46, for a total value of $1,145,639.20. Following the completion of the sale, the executive vice president now directly owns 16,976 shares of the company’s stock, valued at $4,302,736.96. This trade represents a 21.03 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Alan D. Schnitzer sold 40,524 shares of the firm’s stock in a transaction that occurred on Monday, October 21st. The shares were sold at an average price of $260.12, for a total value of $10,541,102.88. Following the completion of the sale, the chief executive officer now directly owns 221,924 shares of the company’s stock, valued at $57,726,870.88. This represents a 15.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 63,999 shares of company stock valued at $16,580,166 in the last ninety days. Insiders own 1.33% of the company’s stock.

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.