Palisade Asset Management LLC cut its stake in Travelers Companies Inc (NYSE:TRV) by 4.7% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 24,746 shares of the insurance provider’s stock after selling 1,228 shares during the period. Palisade Asset Management LLC’s holdings in Travelers Companies were worth $3,394,000 at the end of the most recent quarter.
A number of other large investors also recently added to or reduced their stakes in TRV. TIAA FSB increased its position in shares of Travelers Companies by 1.1% during the first quarter. TIAA FSB now owns 132,537 shares of the insurance provider’s stock worth $18,179,000 after purchasing an additional 1,472 shares in the last quarter. Farmers & Merchants Trust Co of Chambersburg PA increased its position in Travelers Companies by 2.9% in the 1st quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 11,587 shares of the insurance provider’s stock valued at $1,589,000 after acquiring an additional 326 shares during the period. CRA Financial Services LLC acquired a new position in Travelers Companies in the 1st quarter valued at about $221,000. Lederer & Associates Investment Counsel CA increased its position in Travelers Companies by 3.8% in the 1st quarter. Lederer & Associates Investment Counsel CA now owns 2,715 shares of the insurance provider’s stock valued at $372,000 after acquiring an additional 100 shares during the period. Finally, Cobiz Wealth LLC increased its position in Travelers Companies by 1.1% in the 1st quarter. Cobiz Wealth LLC now owns 39,067 shares of the insurance provider’s stock valued at $5,324,000 after acquiring an additional 441 shares during the period. Hedge funds and other institutional investors own 80.52% of the company’s stock.
Shares of TRV opened at $141.71 on Wednesday. The company has a debt-to-equity ratio of 0.29, a current ratio of 0.38 and a quick ratio of 0.38. The firm has a market capitalization of $37.57 billion, a price-to-earnings ratio of 15.85, a price-to-earnings-growth ratio of 1.30 and a beta of 1.08. Travelers Companies Inc has a fifty-two week low of $111.08 and a fifty-two week high of $144.22.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Monday, June 10th will be issued a dividend of $0.82 per share. This represents a $3.28 dividend on an annualized basis and a dividend yield of 2.31%. This is an increase from Travelers Companies’s previous quarterly dividend of $0.77. The ex-dividend date is Friday, June 7th. Travelers Companies’s dividend payout ratio is presently 34.45%.
A number of equities research analysts have weighed in on the company. Morgan Stanley lifted their price objective on Travelers Companies from $119.00 to $130.00 and gave the company an “underweight” rating in a report on Tuesday, April 30th. Royal Bank of Canada reissued a “neutral” rating and set a $145.00 price target on shares of Travelers Companies in a research note on Thursday, April 18th. Barclays boosted their price target on Travelers Companies from $145.00 to $160.00 and gave the stock an “overweight” rating in a research note on Monday, April 1st. Zacks Investment Research lowered Travelers Companies from a “buy” rating to a “hold” rating in a research note on Thursday, April 4th. Finally, MKM Partners boosted their price target on Travelers Companies to $140.00 and gave the stock a “neutral” rating in a research note on Monday, April 22nd. One research analyst has rated the stock with a sell rating, ten have given a hold rating and two have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $140.58.
In related news, CEO Alan D. Schnitzer sold 66,228 shares of the stock in a transaction on Monday, February 25th. The stock was sold at an average price of $132.22, for a total value of $8,756,666.16. Following the completion of the sale, the chief executive officer now directly owns 134,252 shares in the company, valued at approximately $17,750,799.44. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Vice Chairman Jay S. Benet sold 57,800 shares of the stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $143.50, for a total value of $8,294,300.00. Following the completion of the sale, the insider now owns 143,666 shares of the company’s stock, valued at $20,616,071. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 274,931 shares of company stock valued at $37,669,880. Insiders own 0.73% of the company’s stock.
Travelers Companies Company 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.
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