Oppenheimer Asset Management Inc. Decreases Position in The Travelers Companies, Inc. $TRV

Oppenheimer Asset Management Inc. cut its stake in The Travelers Companies, Inc. (NYSE:TRV) by 3.3% in the third quarter, HoldingsChannel reports. The firm owned 63,319 shares of the insurance provider’s stock after selling 2,134 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Travelers Companies were worth $17,680,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the stock. Candriam S.C.A. lifted its stake in Travelers Companies by 750.4% in the third quarter. Candriam S.C.A. now owns 171,694 shares of the insurance provider’s stock worth $47,940,000 after acquiring an additional 151,504 shares during the last quarter. RFG Advisory LLC raised its holdings in shares of Travelers Companies by 7.3% in the 3rd quarter. RFG Advisory LLC now owns 968 shares of the insurance provider’s stock valued at $270,000 after purchasing an additional 66 shares in the last quarter. Smartleaf Asset Management LLC lifted its position in shares of Travelers Companies by 39.1% during the 3rd quarter. Smartleaf Asset Management LLC now owns 4,058 shares of the insurance provider’s stock worth $1,122,000 after purchasing an additional 1,140 shares during the last quarter. Alps Advisors Inc. purchased a new stake in shares of Travelers Companies during the 3rd quarter worth $4,561,000. Finally, Canada Post Corp Registered Pension Plan grew its stake in shares of Travelers Companies by 22.8% during the third quarter. Canada Post Corp Registered Pension Plan now owns 4,531 shares of the insurance provider’s stock worth $1,253,000 after purchasing an additional 840 shares in the last quarter. Institutional investors and hedge funds own 82.45% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the company. Barclays decreased their price target on Travelers Companies from $315.00 to $312.00 and set an “equal weight” rating for the company in a report on Thursday, January 8th. JPMorgan Chase & Co. boosted their price objective on shares of Travelers Companies from $302.00 to $305.00 and gave the stock an “underweight” rating in a research report on Wednesday, January 7th. Weiss Ratings downgraded shares of Travelers Companies from a “buy (a-)” rating to a “buy (b+)” rating in a research report on Monday, January 26th. Roth Mkm boosted their price objective on shares of Travelers Companies from $300.00 to $320.00 and gave the company a “buy” rating in a research note on Friday, January 23rd. Finally, Citigroup restated a “neutral” rating on shares of Travelers Companies in a research note on Tuesday, January 27th. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, ten have issued a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $303.00.

Insider Activity

In other news, Vice Chairman William H. Heyman sold 2,000 shares of the company’s stock in a transaction on Wednesday, November 12th. The shares were sold at an average price of $287.50, for a total value of $575,000.00. Following the completion of the transaction, the insider directly owned 255,086 shares in the company, valued at approximately $73,337,225. This represents a 0.78% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Maria Olivo sold 10,400 shares of Travelers Companies stock in a transaction on Friday, February 6th. The stock was sold at an average price of $300.75, for a total transaction of $3,127,800.00. Following the sale, the executive vice president directly owned 117,596 shares in the company, valued at $35,366,997. This trade represents a 8.13% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 105,568 shares of company stock worth $30,974,602 in the last ninety days. 1.46% of the stock is currently owned by company insiders.

Travelers Companies Price Performance

Travelers Companies stock opened at $292.78 on Tuesday. The firm has a fifty day moving average of $284.87 and a 200-day moving average of $278.21. The Travelers Companies, Inc. has a 52-week low of $230.43 and a 52-week high of $304.40. The company has a quick ratio of 0.35, a current ratio of 0.33 and a debt-to-equity ratio of 0.28. The firm has a market capitalization of $65.31 billion, a P/E ratio of 10.63, a PEG ratio of 2.81 and a beta of 0.51.

Travelers Companies (NYSE:TRV) last announced its quarterly earnings results on Wednesday, January 21st. The insurance provider reported $11.13 earnings per share for the quarter, topping 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 during the quarter, compared to analysts’ expectations of $11.13 billion. During the same period in the prior year, the company earned $9.15 EPS. The firm’s revenue was up 3.5% on a year-over-year basis. As a group, analysts predict that The Travelers Companies, Inc. will post 17.02 EPS for the current year.

Travelers Companies Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Tuesday, March 10th will be issued 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 is Tuesday, March 10th. Travelers Companies’s dividend payout ratio (DPR) is presently 15.98%.

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