Assenagon Asset Management S.A. Sells 281,658 Shares of The Travelers Companies, Inc. $TRV

Assenagon Asset Management S.A. cut its holdings in shares of The Travelers Companies, Inc. (NYSE:TRV) by 83.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 56,492 shares of the insurance provider’s stock after selling 281,658 shares during the period. Assenagon Asset Management S.A.’s holdings in Travelers Companies were worth $16,386,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently modified their holdings of the business. Osterweis Capital Management Inc. boosted its stake in Travelers Companies by 1,820.0% in the second quarter. Osterweis Capital Management Inc. now owns 96 shares of the insurance provider’s stock valued at $26,000 after acquiring an additional 91 shares during the last quarter. Delos Wealth Advisors LLC bought a new stake in shares of Travelers Companies during the 2nd quarter valued at $27,000. Barnes Dennig Private Wealth Management LLC lifted its stake in shares of Travelers Companies by 134.1% in the 3rd quarter. Barnes Dennig Private Wealth Management LLC now owns 96 shares of the insurance provider’s stock valued at $27,000 after purchasing an additional 55 shares during the period. Clayton Financial Group LLC acquired a new position in shares of Travelers Companies in the 3rd quarter valued at $28,000. Finally, Twin Peaks Wealth Advisors LLC bought a new position in shares of Travelers Companies in the 2nd quarter worth $30,000. Institutional investors and hedge funds own 82.45% of the company’s stock.

Insider Activity at Travelers Companies

In other Travelers Companies news, EVP Michael Frederick Klein sold 10,000 shares of the stock in a transaction dated 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 completion of the transaction, the executive vice president owned 33,638 shares in the company, valued at approximately $10,131,092.84. This represents a 22.92% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Jeffrey P. Klenk sold 16,712 shares of Travelers Companies stock in a transaction dated 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 completion of the sale, the executive vice president directly owned 6,075 shares in the company, valued at $1,699,602.75. This represents a 73.34% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 92,845 shares of company stock valued at $27,239,631. Insiders own 1.46% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on TRV shares. Wells Fargo & Company dropped their price objective on Travelers Companies from $307.00 to $285.00 and set an “equal weight” rating for the company in a report on Thursday, January 22nd. The Goldman Sachs Group cut Travelers Companies from a “buy” rating to a “neutral” rating and set a $304.00 target price on the stock. in a report on Wednesday, January 7th. Barclays lowered their price target on Travelers Companies from $315.00 to $312.00 and set an “equal weight” rating for the company in a research note on Thursday, January 8th. UBS Group reiterated a “neutral” rating on shares of Travelers Companies in a research report on Monday, February 2nd. Finally, Brean Capital initiated coverage on shares of Travelers Companies in a research note on Thursday, March 12th. They set a “neutral” rating on the stock. Two equities research analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating, ten have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $306.79.

Travelers Companies Trading Up 0.1%

NYSE:TRV opened at $290.92 on Friday. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.33 and a quick ratio of 0.33. The business’s 50-day simple moving average is $295.16 and its 200-day simple moving average is $285.73. The Travelers Companies, Inc. has a fifty-two week low of $230.43 and a fifty-two week high of $313.12. The stock has a market capitalization of $62.91 billion, a PE ratio of 10.57, a price-to-earnings-growth ratio of 2.70 and a beta of 0.49.

Travelers Companies (NYSE:TRV) last posted its earnings results on Wednesday, January 21st. The insurance provider reported $11.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 return on equity of 20.70% and a net margin of 12.88%.Travelers Companies’s revenue for the quarter was up 3.5% compared to the same quarter last year. During the same period in the prior year, the business earned $9.15 EPS. Sell-side analysts expect that The Travelers Companies, Inc. will post 17.02 earnings per share for the current fiscal year.

Travelers Companies declared that its board has initiated a share buyback program on Wednesday, January 21st that permits the company to buyback $5.00 billion in shares. This buyback authorization permits the insurance provider to repurchase up to 8.3% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s board believes its shares are undervalued.

Travelers Companies Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Tuesday, March 10th will be given 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 dividend yield of 1.5%. Travelers Companies’s dividend payout ratio is currently 15.98%.

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.