World Asset Management Inc reduced its position in shares of The Travelers Companies, Inc. (NYSE:TRV) by 5.1% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 10,723 shares of the insurance provider’s stock after selling 575 shares during the period. World Asset Management Inc’s holdings in Travelers Companies were worth $1,630,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in TRV. Marathon Asset Mgmt Ltd purchased a new position in shares of Travelers Companies during the third quarter worth $206,237,000. Amundi acquired a new stake in shares of Travelers Companies in the second quarter valued at $129,823,000. AQR Capital Management LLC raised its stake in Travelers Companies by 41.0% in the second quarter. AQR Capital Management LLC now owns 1,428,238 shares of the insurance provider’s stock valued at $213,679,000 after buying an additional 415,506 shares in the last quarter. Morgan Stanley raised its stake in Travelers Companies by 36.9% in the second quarter. Morgan Stanley now owns 1,450,706 shares of the insurance provider’s stock valued at $217,186,000 after buying an additional 390,974 shares in the last quarter. Finally, Deutsche Bank AG raised its stake in Travelers Companies by 47.9% in the third quarter. Deutsche Bank AG now owns 1,019,557 shares of the insurance provider’s stock valued at $154,983,000 after buying an additional 330,431 shares in the last quarter. Institutional investors and hedge funds own 82.09% of the company’s stock.
TRV traded down $0.55 during trading on Friday, hitting $162.50. The company’s stock had a trading volume of 8,185 shares, compared to its average volume of 1,330,879. The firm’s 50 day moving average price is $156.64 and its 200-day moving average price is $155.81. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.36 and a quick ratio of 0.36. The stock has a market cap of $39.98 billion, a PE ratio of 11.44, a PEG ratio of 1.99 and a beta of 0.77. The Travelers Companies, Inc. has a twelve month low of $135.87 and a twelve month high of $168.31.
The firm also recently declared a quarterly dividend, which was paid on Friday, December 31st. Shareholders of record on Friday, December 10th were issued a $0.88 dividend. The ex-dividend date of this dividend was Thursday, December 9th. This represents a $3.52 annualized dividend and a yield of 2.17%. Travelers Companies’s dividend payout ratio (DPR) is presently 24.70%.
In other news, EVP Andy F. Bessette sold 6,005 shares of the business’s stock in a transaction on Tuesday, November 23rd. The shares were sold at an average price of $159.87, for a total transaction of $960,019.35. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Michael Frederick Klein sold 5,876 shares of the business’s stock in a transaction on Monday, October 25th. The shares were sold at an average price of $161.71, for a total transaction of $950,207.96. The disclosure for this sale can be found here. Insiders have sold a total of 26,570 shares of company stock valued at $4,289,845 over the last three months. Corporate insiders own 0.92% of the company’s stock.
A number of research firms have recently commented on TRV. Jefferies Financial Group began coverage on Travelers Companies in a research report on Thursday, November 18th. They set a “hold” rating and a $165.00 target price on the stock. Morgan Stanley raised their price target on Travelers Companies from $167.00 to $172.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 20th. Zacks Investment Research lowered Travelers Companies from a “buy” rating to a “hold” rating and set a $170.00 price objective on the stock. in a report on Friday, December 17th. JPMorgan Chase & Co. lifted their price objective on Travelers Companies from $158.00 to $159.00 and gave the company an “underweight” rating in a report on Thursday, January 6th. They noted that the move was a valuation call. Finally, The Goldman Sachs Group started coverage on Travelers Companies in a report on Monday, November 22nd. They issued a “neutral” rating and a $165.00 price objective on the stock. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and five have given a buy rating to the company. According to MarketBeat.com, Travelers Companies currently has a consensus rating of “Hold” and an average target price of $164.27.
Travelers Companies Company Profile
The Travelers Cos., Inc is a holding company, which engages in the provision of commercial and personal property and casualty insurance products and services. It operates through the following business segments: Business Insurance, Bond and Specialty Insurance, and Personal Insurance. The Business Insurance segment offers a broad array of property and casualty insurance, and insurance related services to its customers.
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