Tocqueville Asset Management L.P. Decreases Stock Position in Travelers Companies Inc (NYSE:TRV)

Tocqueville Asset Management L.P. cut its stake in Travelers Companies Inc (NYSE:TRV) by 1.4% in the second quarter, HoldingsChannel reports. The firm owned 20,957 shares of the insurance provider’s stock after selling 296 shares during the quarter. Tocqueville Asset Management L.P.’s holdings in Travelers Companies were worth $3,133,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in the stock. Comerica Securities Inc. raised its holdings in shares of Travelers Companies by 22.5% during the fourth quarter. Comerica Securities Inc. now owns 10,568 shares of the insurance provider’s stock valued at $1,266,000 after acquiring an additional 1,944 shares in the last quarter. Geode Capital Management LLC raised its holdings in Travelers Companies by 6.7% in the fourth quarter. Geode Capital Management LLC now owns 3,226,157 shares of the insurance provider’s stock worth $385,607,000 after purchasing an additional 203,345 shares in the last quarter. Mercer Global Advisors Inc. ADV bought a new position in Travelers Companies in the first quarter worth $961,000. Lincoln Capital LLC raised its holdings in Travelers Companies by 3.4% in the first quarter. Lincoln Capital LLC now owns 16,877 shares of the insurance provider’s stock worth $2,315,000 after purchasing an additional 560 shares in the last quarter. Finally, BKS Advisors LLC raised its holdings in Travelers Companies by 21.0% in the first quarter. BKS Advisors LLC now owns 2,700 shares of the insurance provider’s stock worth $370,000 after purchasing an additional 469 shares in the last quarter. Hedge funds and other institutional investors own 80.72% of the company’s stock.

In other news, EVP Diane D. Bengston sold 6,899 shares of the stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $147.53, for a total value of $1,017,809.47. Following the sale, the executive vice president now directly owns 11,746 shares of the company’s stock, valued at $1,732,887.38. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Michael Frederick Klein sold 3,545 shares of the stock in a transaction on Monday, August 12th. The stock was sold at an average price of $147.41, for a total value of $522,568.45. The disclosure for this sale can be found here. Over the last three months, insiders sold 32,944 shares of company stock worth $4,892,878. Insiders own 0.73% of the company’s stock.

A number of research firms have issued reports on TRV. Royal Bank of Canada increased their price objective on Travelers Companies to $160.00 and gave the stock a “sector perform” rating in a report on Wednesday, July 24th. MKM Partners increased their price objective on Travelers Companies to $140.00 and gave the stock a “neutral” rating in a report on Monday, April 22nd. Keefe, Bruyette & Woods downgraded Travelers Companies from an “outperform” rating to a “market perform” rating and set a $153.00 price objective for the company. in a report on Wednesday, June 5th. ValuEngine downgraded Travelers Companies from a “buy” rating to a “hold” rating in a report on Thursday, August 1st. Finally, Barclays increased their price objective on Travelers Companies from $160.00 to $170.00 and gave the stock an “overweight” rating in a report on Wednesday, May 22nd. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating and two have issued a buy rating to the company. Travelers Companies currently has an average rating of “Hold” and an average target price of $148.55.

Shares of NYSE TRV traded down $0.99 during trading on Wednesday, reaching $145.31. The company had a trading volume of 300,929 shares, compared to its average volume of 1,323,919. Travelers Companies Inc has a 12-month low of $111.08 and a 12-month high of $155.09. The stock has a market cap of $38.16 billion, a PE ratio of 16.25, a PEG ratio of 1.41 and a beta of 0.94. The business’s 50-day moving average is $150.29. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.38 and a current ratio of 0.38.

Travelers Companies (NYSE:TRV) last released its earnings results on Tuesday, July 23rd. The insurance provider reported $2.02 EPS for the quarter, missing analysts’ consensus estimates of $2.32 by ($0.30). Travelers Companies had a return on equity of 10.73% and a net margin of 8.65%. The company had revenue of $6.99 billion during the quarter, compared to analysts’ expectations of $7.03 billion. During the same period in the prior year, the company posted $1.81 earnings per share. The company’s revenue was up 4.4% on a year-over-year basis. Research analysts forecast that Travelers Companies Inc will post 10.63 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Tuesday, September 10th will be paid a $0.82 dividend. The ex-dividend date of this dividend is Monday, September 9th. This represents a $3.28 dividend on an annualized basis and a dividend yield of 2.26%. Travelers Companies’s dividend payout ratio is currently 36.69%.

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.

Featured Article: Do investors pay a separate front-end load every time they buy additional shares?

Want to see what other hedge funds are holding TRV? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Travelers Companies Inc (NYSE:TRV).

Institutional Ownership by Quarter for Travelers Companies (NYSE:TRV)

Receive News & Ratings for Travelers Companies Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Travelers Companies and related companies with MarketBeat.com's FREE daily email newsletter.