Victory Capital Management Inc. Sells 2,558 Shares of The Travelers Companies, Inc. $TRV

Victory Capital Management Inc. reduced its position in shares of The Travelers Companies, Inc. (NYSE:TRV) by 2.8% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 87,449 shares of the insurance provider’s stock after selling 2,558 shares during the period. Victory Capital Management Inc.’s holdings in Travelers Companies were worth $24,418,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Norges Bank bought a new position in Travelers Companies in the 2nd quarter worth about $815,013,000. JPMorgan Chase & Co. grew its holdings 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. AustralianSuper Pty Ltd purchased a new position in shares of Travelers Companies during the third quarter worth about $125,597,000. Rakuten Investment Management Inc. purchased a new stake in Travelers Companies in the third quarter valued at approximately $112,051,000. Finally, Nordea Investment Management AB lifted its position in Travelers Companies by 1,641.3% during the third quarter. Nordea Investment Management AB now owns 379,480 shares of the insurance provider’s stock valued at $105,537,000 after purchasing an additional 357,687 shares during the last quarter. Hedge funds and other institutional investors own 82.45% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on TRV shares. Mizuho decreased their price target on shares of Travelers Companies from $315.00 to $304.00 and set a “neutral” rating on the stock in a report on Thursday, January 22nd. UBS Group restated a “neutral” rating on shares of Travelers Companies in a research report on Monday, February 2nd. Roth Mkm upped their price objective on Travelers Companies from $300.00 to $320.00 and gave the stock a “buy” rating in a report on Friday, January 23rd. Jefferies Financial Group raised Travelers Companies to a “hold” rating in a report on Tuesday, January 6th. Finally, Cantor Fitzgerald boosted their target price on Travelers Companies from $316.00 to $319.00 and gave the stock an “overweight” rating in a research report on Monday, February 2nd. Two research analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating, ten have assigned a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $304.33.

Travelers Companies Stock Down 1.1%

Shares of NYSE:TRV opened at $303.02 on Tuesday. The stock has a market capitalization of $65.53 billion, a P/E ratio of 11.01, a price-to-earnings-growth ratio of 2.86 and a beta of 0.49. The stock’s 50-day moving average price is $291.06 and its 200-day moving average price is $283.63. The company has a current ratio of 0.33, a quick ratio of 0.33 and a debt-to-equity ratio of 0.28. The Travelers Companies, Inc. has a 12-month low of $230.43 and a 12-month high of $313.12.

Travelers Companies (NYSE:TRV) last issued its 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. Travelers Companies had a return on equity of 20.70% and a net margin of 12.88%.The company had revenue of $12.43 billion during the quarter, compared to analysts’ expectations of $11.13 billion. During the same period in the prior year, the business posted $9.15 EPS. Travelers Companies’s quarterly revenue was up 3.5% compared to the same quarter last year. On average, equities analysts anticipate that The Travelers Companies, Inc. will post 17.02 earnings per share for the current year.

Travelers Companies Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Tuesday, March 10th will be issued a dividend of $1.10 per share. This represents a $4.40 dividend on an annualized basis 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 approved a stock repurchase plan on Wednesday, January 21st that permits the company to buyback $5.00 billion in shares. This buyback authorization permits the insurance provider to reacquire up to 8.3% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s management believes its stock is undervalued.

Insiders Place Their Bets

In other Travelers Companies news, CEO Alan D. Schnitzer sold 55,733 shares of the stock in a transaction that occurred on 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 sale, the chief executive officer owned 260,329 shares in the company, valued at approximately $76,718,956.30. This trade represents a 17.63% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Jeffrey P. Klenk sold 16,712 shares of the company’s stock in a transaction that occurred on Friday, January 23rd. The shares were sold at an average price of $279.77, for a total value of $4,675,516.24. Following the transaction, the executive vice president owned 6,075 shares of the company’s stock, valued at approximately $1,699,602.75. This represents a 73.34% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 92,845 shares of company stock worth $27,239,631 in the last quarter. 1.46% of the stock is currently owned by company insiders.

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.