Conning Inc. Trims Stake in The Travelers Companies, Inc. $TRV

Conning Inc. lowered its holdings in The Travelers Companies, Inc. (NYSE:TRV) by 8.3% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 126,386 shares of the insurance provider’s stock after selling 11,471 shares during the quarter. Conning Inc. owned 0.06% of Travelers Companies worth $33,813,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in TRV. Cornerstone Planning Group LLC raised its position in Travelers Companies by 700.0% in the first quarter. Cornerstone Planning Group LLC now owns 96 shares of the insurance provider’s stock valued at $25,000 after purchasing an additional 84 shares during the period. Greykasell Wealth Strategies Inc. acquired a new stake in shares of Travelers Companies in the first quarter valued at $26,000. Missouri Trust & Investment Co grew its stake in shares of Travelers Companies by 122.2% in the second quarter. Missouri Trust & Investment Co now owns 100 shares of the insurance provider’s stock valued at $27,000 after buying an additional 55 shares in the last quarter. Flaharty Asset Management LLC acquired a new stake in shares of Travelers Companies in the first quarter valued at $32,000. Finally, Nova Wealth Management Inc. acquired a new stake in shares of Travelers Companies in the second quarter valued at $32,000. Hedge funds and other institutional investors own 82.45% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. Wolfe Research assumed coverage on Travelers Companies in a research note on Monday, September 15th. They issued a “peer perform” rating for the company. Cantor Fitzgerald raised Travelers Companies to a “strong-buy” rating in a research note on Wednesday, August 13th. Morgan Stanley lifted their price objective on Travelers Companies from $269.00 to $285.00 and gave the company an “equal weight” rating in a research note on Tuesday. Barclays set a $313.00 price objective on Travelers Companies in a research note on Wednesday. Finally, Weiss Ratings reaffirmed a “buy (b+)” rating on shares of Travelers Companies in a research note on Saturday, September 27th. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, eleven have issued a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, Travelers Companies has an average rating of “Hold” and an average price target of $290.11.

Insider Activity

In other news, EVP Mojgan M. Lefebvre sold 16,820 shares of the company’s stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $277.54, for a total transaction of $4,668,222.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Gregory C. Toczydlowski sold 11,505 shares of the company’s stock in a transaction dated Monday, July 21st. The stock was sold at an average price of $266.12, for a total value of $3,061,710.60. Following the transaction, the executive vice president directly owned 18,416 shares of the company’s stock, valued at approximately $4,900,865.92. This represents a 38.45% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.46% of the company’s stock.

Travelers Companies Trading Down 1.6%

TRV opened at $269.92 on Friday. The Travelers Companies, Inc. has a 12 month low of $230.23 and a 12 month high of $287.95. The stock has a market capitalization of $60.77 billion, a price-to-earnings ratio of 11.94, a PEG ratio of 3.13 and a beta of 0.51. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.33 and a quick ratio of 0.33. The business has a fifty day moving average price of $273.66 and a 200 day moving average price of $266.13.

Travelers Companies (NYSE:TRV) last released its earnings results on Thursday, July 17th. The insurance provider reported $6.51 EPS for the quarter, topping the consensus estimate of $3.52 by $2.99. Travelers Companies had a return on equity of 18.68% and a net margin of 10.97%.The firm had revenue of $11.54 billion during the quarter, compared to analysts’ expectations of $11.02 billion. During the same period in the previous year, the firm posted $2.51 EPS. Travelers Companies’s revenue for the quarter was up 7.4% on a year-over-year basis. Sell-side analysts expect that The Travelers Companies, Inc. will post 17.02 earnings per share for the current fiscal year.

Travelers Companies Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Wednesday, September 10th were given a dividend of $1.10 per share. This represents a $4.40 annualized dividend and a dividend yield of 1.6%. The ex-dividend date of this dividend was Wednesday, September 10th. Travelers Companies’s dividend payout ratio is currently 19.46%.

Travelers Companies Profile

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.