Cornerstone Advisors LLC Sells 3,000 Shares of The Travelers Companies, Inc. $TRV

Cornerstone Advisors LLC cut its holdings in shares of The Travelers Companies, Inc. (NYSE:TRV) by 32.6% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 6,200 shares of the insurance provider’s stock after selling 3,000 shares during the period. Cornerstone Advisors LLC’s holdings in Travelers Companies were worth $1,731,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Brighton Jones LLC increased its position in Travelers Companies by 13.4% during the 4th quarter. Brighton Jones LLC now owns 3,277 shares of the insurance provider’s stock valued at $789,000 after purchasing an additional 387 shares during the period. Revolve Wealth Partners LLC bought a new stake in shares of Travelers Companies during the 4th quarter valued at about $276,000. International Assets Investment Management LLC increased its position in shares of Travelers Companies by 2.2% during the second quarter. International Assets Investment Management LLC now owns 2,124 shares of the insurance provider’s stock valued at $568,000 after buying an additional 46 shares during the period. Chicago Partners Investment Group LLC increased its position in shares of Travelers Companies by 13.1% during the second quarter. Chicago Partners Investment Group LLC now owns 2,275 shares of the insurance provider’s stock valued at $602,000 after buying an additional 263 shares during the period. Finally, Bogart Wealth LLC raised its stake in Travelers Companies by 229.0% in the second quarter. Bogart Wealth LLC now owns 204 shares of the insurance provider’s stock worth $55,000 after buying an additional 142 shares in the last quarter. Hedge funds and other institutional investors own 82.45% of the company’s stock.

Analyst Ratings Changes

Several analysts have weighed in on TRV shares. JPMorgan Chase & Co. lifted their price objective on Travelers Companies from $302.00 to $305.00 and gave the company an “underweight” rating in a research report on Wednesday, January 7th. Wells Fargo & Company dropped their price target on Travelers Companies from $307.00 to $285.00 and set an “equal weight” rating on the stock in a research report on Thursday, January 22nd. Zacks Research downgraded Travelers Companies from a “strong-buy” rating to a “hold” rating in a report on Monday, December 22nd. Mizuho dropped their target price 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. Finally, Weiss Ratings raised shares of Travelers Companies from a “buy (b+)” rating to a “buy (a-)” rating in a research report on Monday, February 9th. Two investment analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating, ten have assigned a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $304.33.

Insiders Place Their Bets

In other Travelers Companies news, EVP Michael Frederick Klein sold 10,000 shares of the company’s stock in a transaction dated Friday, February 6th. The shares were sold at an average price of $301.18, for a total transaction of $3,011,800.00. Following 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 legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Alan D. Schnitzer sold 55,733 shares of Travelers Companies stock in a transaction that occurred on Wednesday, February 4th. The stock was sold at an average price of $294.70, for a total transaction of $16,424,515.10. Following the completion of the sale, the chief executive officer owned 260,329 shares of the company’s stock, valued at $76,718,956.30. This represents a 17.63% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 101,765 shares of company stock worth $29,877,543 over the last three months. Company insiders own 1.46% of the company’s stock.

Travelers Companies Stock Down 0.3%

NYSE:TRV opened at $298.34 on Thursday. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.33 and a current ratio of 0.33. The firm has a market cap of $64.51 billion, a P/E ratio of 10.84, a P/E/G ratio of 2.79 and a beta of 0.51. The Travelers Companies, Inc. has a fifty-two week low of $230.43 and a fifty-two week high of $304.40. The firm has a 50-day simple moving average of $287.01 and a two-hundred day simple moving average of $279.95.

Travelers Companies (NYSE:TRV) last posted its quarterly earnings results on Wednesday, January 21st. The insurance provider reported $11.13 EPS for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $11.13 billion. During the same quarter in the prior year, the company posted $9.15 earnings per share. The business’s revenue for the quarter was up 3.5% on a year-over-year basis. Analysts predict that The Travelers Companies, Inc. will post 17.02 earnings per share for the current fiscal 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 $1.10 dividend. The ex-dividend date of this dividend is Tuesday, March 10th. This represents a $4.40 dividend on an annualized basis and a dividend yield of 1.5%. Travelers Companies’s dividend payout ratio (DPR) is presently 15.98%.

Travelers Companies declared that its board has authorized a stock repurchase plan on Wednesday, January 21st that permits the company to buyback $5.00 billion in outstanding shares. This buyback authorization permits the insurance provider to purchase up to 8.3% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s board of directors believes its shares are undervalued.

About Travelers Companies

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.