Envestnet Asset Management Inc. Reduces Position in The Travelers Companies, Inc. $TRV

Envestnet Asset Management Inc. decreased its stake in shares of The Travelers Companies, Inc. (NYSE:TRV) by 12.3% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 618,565 shares of the insurance provider’s stock after selling 86,924 shares during the quarter. Envestnet Asset Management Inc. owned about 0.28% of Travelers Companies worth $172,716,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in TRV. Peregrine Asset Advisers Inc. purchased a new stake in shares of Travelers Companies during the third quarter valued at $7,955,000. Telos Capital Management Inc. lifted its position in Travelers Companies by 1.5% during the 3rd quarter. Telos Capital Management Inc. now owns 51,870 shares of the insurance provider’s stock worth $14,483,000 after acquiring an additional 744 shares during the period. SGL Investment Advisors Inc. lifted its position in Travelers Companies by 1.5% during the 3rd quarter. SGL Investment Advisors Inc. now owns 20,030 shares of the insurance provider’s stock worth $5,361,000 after acquiring an additional 297 shares during the period. Westside Investment Management Inc. grew its stake in Travelers Companies by 30.0% during the 3rd quarter. Westside Investment Management Inc. now owns 282 shares of the insurance provider’s stock valued at $78,000 after purchasing an additional 65 shares during the last quarter. Finally, Physician Wealth Advisors Inc. increased its holdings in shares of Travelers Companies by 40.9% in the third quarter. Physician Wealth Advisors Inc. now owns 241 shares of the insurance provider’s stock valued at $67,000 after purchasing an additional 70 shares during the period. Hedge funds and other institutional investors own 82.45% of the company’s stock.

Travelers Companies Trading Up 0.5%

Travelers Companies stock opened at $301.80 on Friday. The firm has a market cap of $67.32 billion, a PE ratio of 10.96, a P/E/G ratio of 2.78 and a beta of 0.51. The Travelers Companies, Inc. has a 12 month low of $230.43 and a 12 month high of $304.40. The stock’s 50 day simple moving average is $284.82 and its two-hundred day simple moving average is $277.82. The company has a current ratio of 0.33, a quick ratio of 0.35 and a debt-to-equity ratio of 0.28.

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, beating the consensus estimate of $8.34 by $2.79. Travelers Companies had a net margin of 12.88% and a return on equity of 20.70%. The firm had revenue of $12.43 billion during the quarter, compared to analysts’ expectations of $11.13 billion. During the same period in the previous year, the business posted $9.15 EPS. The business’s revenue was up 3.5% compared to the same quarter last year. Analysts anticipate that The Travelers Companies, Inc. will post 17.02 earnings per share for the current year.

Travelers Companies Announces Dividend

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 paid a dividend of $1.10 per share. This represents a $4.40 annualized dividend and a dividend yield of 1.5%. The ex-dividend date of this dividend is Tuesday, March 10th. Travelers Companies’s dividend payout ratio is presently 15.98%.

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

Analysts Set New Price Targets

A number of research firms recently commented on TRV. Zacks Research downgraded Travelers Companies from a “strong-buy” rating to a “hold” rating in a report on Monday, December 22nd. Roth Mkm raised their price target on shares of Travelers Companies from $300.00 to $320.00 and gave the stock a “buy” rating in a research report on Friday, January 23rd. Keefe, Bruyette & Woods lifted their price objective on shares of Travelers Companies from $317.00 to $320.00 and gave the company an “outperform” rating in a research note on Friday, January 23rd. JPMorgan Chase & Co. upped their price objective on shares of Travelers Companies from $302.00 to $305.00 and gave the company an “underweight” rating in a report on Wednesday, January 7th. Finally, Evercore raised their target price on shares of Travelers Companies from $309.00 to $317.00 and gave the stock an “outperform” rating in a report on Wednesday, January 7th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, ten have issued a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, Travelers Companies has a consensus rating of “Hold” and an average price target of $303.00.

Insiders Place Their Bets

In related news, CEO Alan D. Schnitzer sold 55,733 shares of Travelers Companies 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 in the company, valued at $76,718,956.30. The trade was a 17.63% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Jeffrey P. Klenk sold 16,712 shares of the company’s stock in a transaction dated Friday, January 23rd. The stock was sold at an average price of $279.77, for a total value of $4,675,516.24. Following the completion of the transaction, the executive vice president directly owned 6,075 shares of the company’s stock, valued at $1,699,602.75. The trade was a 73.34% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 85,168 shares of company stock valued at $24,835,002 over the last quarter. 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.