Sawgrass Asset Management LLC Cuts Stock Holdings in The Travelers Companies, Inc. (NYSE:TRV)

Sawgrass Asset Management LLC trimmed its stake in shares of The Travelers Companies, Inc. (NYSE:TRV) by 6.3% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,670 shares of the insurance provider’s stock after selling 112 shares during the period. Sawgrass Asset Management LLC’s holdings in Travelers Companies were worth $402,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of TRV. Exchange Traded Concepts LLC purchased a new position in Travelers Companies during the third quarter valued at $899,000. Creative Planning grew its stake in Travelers Companies by 3.5% during the third quarter. Creative Planning now owns 84,571 shares of the insurance provider’s stock valued at $19,800,000 after acquiring an additional 2,875 shares in the last quarter. Swedbank AB grew its stake in Travelers Companies by 8.2% during the third quarter. Swedbank AB now owns 123,619 shares of the insurance provider’s stock valued at $28,942,000 after acquiring an additional 9,377 shares in the last quarter. Magnus Financial Group LLC purchased a new position in Travelers Companies during the third quarter valued at $230,000. Finally, Sumitomo Life Insurance Co. grew its stake in Travelers Companies by 2.8% during the third quarter. Sumitomo Life Insurance Co. now owns 5,925 shares of the insurance provider’s stock valued at $1,387,000 after acquiring an additional 160 shares in the last quarter. 82.45% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Travelers Companies

In other news, EVP Maria Olivo sold 10,410 shares of the company’s stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $261.80, for a total value of $2,725,338.00. Following the completion of the sale, the executive vice president now owns 111,162 shares of the company’s stock, valued at approximately $29,102,211.60. This represents a 8.56 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Vice Chairman William H. Heyman sold 3,740 shares of the company’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $264.80, for a total transaction of $990,352.00. Following the completion of the sale, the insider now directly owns 250,384 shares of the company’s stock, valued at $66,301,683.20. The trade was a 1.47 % decrease in their position. The disclosure for this sale can be found here. 1.33% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. Barclays lifted their price objective on shares of Travelers Companies from $278.00 to $287.00 and gave the stock an “overweight” rating in a research note on Friday, January 24th. Roth Mkm lifted their price objective on shares of Travelers Companies from $240.00 to $300.00 and gave the stock a “buy” rating in a research note on Monday, October 21st. BMO Capital Markets lifted their price objective on shares of Travelers Companies from $275.00 to $297.00 and gave the stock an “outperform” rating in a research note on Friday, January 24th. Hsbc Global Res raised shares of Travelers Companies from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, December 10th. Finally, HSBC raised shares of Travelers Companies from a “hold” rating to a “buy” rating and set a $290.00 price objective for the company in a research note on Tuesday, December 10th. Four investment analysts have rated the stock with a sell rating, twelve have given a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $260.47.

Travelers Companies Trading Up 1.1 %

Shares of TRV opened at $243.22 on Friday. The Travelers Companies, Inc. has a 1-year low of $200.21 and a 1-year high of $269.55. The company has a 50-day moving average of $243.62 and a 200 day moving average of $240.44. The firm has a market capitalization of $55.22 billion, a price-to-earnings ratio of 11.33, a PEG ratio of 1.08 and a beta of 0.64. The company has a debt-to-equity ratio of 0.29, a current ratio of 0.33 and a quick ratio of 0.34.

Travelers Companies (NYSE:TRV) last announced its quarterly earnings data on Wednesday, January 22nd. The insurance provider reported $9.15 earnings per share for the quarter, beating analysts’ consensus estimates of $6.50 by $2.65. Travelers Companies had a net margin of 10.77% and a return on equity of 19.06%. The company had revenue of $12.01 billion during the quarter, compared to analyst estimates of $10.80 billion. During the same quarter last year, the business posted $7.01 EPS. The firm’s revenue for the quarter was up 9.9% on a year-over-year basis. On average, research analysts expect that The Travelers Companies, Inc. will post 20.57 EPS for the current year.

Travelers Companies Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 10th will be issued a dividend of $1.05 per share. The ex-dividend date is Monday, March 10th. This represents a $4.20 dividend on an annualized basis and a yield of 1.73%. Travelers Companies’s payout ratio is 19.56%.

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.