Citigroup Inc. Sells 14,787 Shares of The Travelers Companies, Inc. $TRV

Citigroup Inc. reduced its stake in The Travelers Companies, Inc. (NYSE:TRV) by 4.8% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 295,404 shares of the insurance provider’s stock after selling 14,787 shares during the quarter. Citigroup Inc. owned about 0.13% of Travelers Companies worth $82,483,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of TRV. Avalon Trust Co boosted its holdings in shares of Travelers Companies by 23.4% during the 2nd quarter. Avalon Trust Co now owns 7,541 shares of the insurance provider’s stock worth $2,018,000 after buying an additional 1,429 shares in the last quarter. Varma Mutual Pension Insurance Co lifted its position in shares of Travelers Companies by 21.7% during the 3rd quarter. Varma Mutual Pension Insurance Co now owns 48,247 shares of the insurance provider’s stock valued at $13,472,000 after acquiring an additional 8,600 shares during the period. Liberty One Investment Management LLC boosted its stake in Travelers Companies by 32.3% during the third quarter. Liberty One Investment Management LLC now owns 26,228 shares of the insurance provider’s stock worth $7,323,000 after acquiring an additional 6,408 shares in the last quarter. National Pension Service grew its holdings in Travelers Companies by 1.8% in the third quarter. National Pension Service now owns 746,883 shares of the insurance provider’s stock worth $208,545,000 after purchasing an additional 13,120 shares during the period. Finally, Peregrine Asset Advisers Inc. acquired a new stake in Travelers Companies in the third quarter worth $7,955,000. Institutional investors and hedge funds own 82.45% of the company’s stock.

Travelers Companies Price Performance

NYSE TRV opened at $304.80 on Monday. The company has a quick ratio of 0.33, a current ratio of 0.33 and a debt-to-equity ratio of 0.28. The company has a market cap of $65.91 billion, a PE ratio of 11.07, a price-to-earnings-growth ratio of 2.84 and a beta of 0.51. The Travelers Companies, Inc. has a 52 week low of $230.43 and a 52 week high of $304.94. The firm’s 50-day simple moving average is $287.74 and its two-hundred day simple moving average is $280.58.

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

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 issued a dividend of $1.10 per share. The ex-dividend date of this dividend is Tuesday, March 10th. This represents a $4.40 dividend on an annualized basis and a yield of 1.4%. Travelers Companies’s payout ratio is presently 15.98%.

Travelers Companies declared that its Board of Directors has approved a share buyback program on Wednesday, January 21st that authorizes the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization authorizes the insurance provider to buy up to 8.3% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s board of directors believes its shares are undervalued.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on TRV. Mizuho cut their target price on Travelers Companies from $315.00 to $304.00 and set a “neutral” rating on the stock in a report on Thursday, January 22nd. Barclays cut their target price on Travelers Companies from $315.00 to $312.00 and set an “equal weight” rating on the stock in a research report on Thursday, January 8th. Roth Mkm increased their price target on Travelers Companies from $300.00 to $320.00 and gave the company a “buy” rating in a research report on Friday, January 23rd. Keefe, Bruyette & Woods lifted their price objective on shares of Travelers Companies from $320.00 to $340.00 and gave the stock an “outperform” rating in a report on Thursday. Finally, Zacks Research lowered shares of Travelers Companies from a “strong-buy” rating to a “hold” rating in a research note on Monday, December 22nd. Two equities research analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating, ten have issued a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $304.33.

Insider Buying and Selling

In related news, EVP Michael Frederick Klein sold 10,000 shares of the business’s stock in a transaction on Friday, February 6th. The stock was sold at an average price of $301.18, for a total transaction of $3,011,800.00. Following the sale, the executive vice president directly owned 33,638 shares in the company, valued at approximately $10,131,092.84. The trade was a 22.92% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Alan D. Schnitzer sold 55,733 shares of the firm’s stock in a transaction dated Wednesday, February 4th. The stock was sold at an average price of $294.70, for a total value of $16,424,515.10. Following the completion of the transaction, the chief executive officer owned 260,329 shares of the company’s stock, valued at approximately $76,718,956.30. This represents a 17.63% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 101,765 shares of company stock worth $29,877,543. Insiders own 1.46% of the company’s stock.

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.