UBS Group AG Cuts Stock Position in The Travelers Companies, Inc. $TRV

UBS Group AG lessened its holdings in The Travelers Companies, Inc. (NYSE:TRV) by 16.8% during the 3rd quarter, HoldingsChannel reports. The firm owned 1,685,597 shares of the insurance provider’s stock after selling 340,680 shares during the period. UBS Group AG’s holdings in Travelers Companies were worth $470,652,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of TRV. Norges Bank purchased a new position in shares of Travelers Companies in the 2nd quarter worth $815,013,000. JPMorgan Chase & Co. increased its holdings in shares of Travelers Companies by 10.9% in the 2nd quarter. JPMorgan Chase & Co. now owns 7,626,750 shares of the insurance provider’s stock worth $2,040,475,000 after buying an additional 751,715 shares during the last quarter. AustralianSuper Pty Ltd purchased a new stake in shares of Travelers Companies during the 3rd quarter valued at about $125,597,000. Rakuten Investment Management Inc. bought a new position in shares of Travelers Companies in the 3rd quarter valued at about $112,051,000. Finally, Nordea Investment Management AB lifted its holdings in shares of Travelers Companies by 1,641.3% in the 3rd quarter. Nordea Investment Management AB now owns 379,480 shares of the insurance provider’s stock valued at $105,537,000 after acquiring an additional 357,687 shares during the last quarter. Hedge funds and other institutional investors own 82.45% of the company’s stock.

Travelers Companies Trading Up 0.8%

TRV traded up $2.42 during trading hours on Friday, reaching $304.43. 156,770 shares of the company’s stock traded hands, compared to its average volume of 1,666,065. The firm has a 50-day moving average price of $291.68 and a 200 day moving average price of $284.05. The firm has a market capitalization of $65.83 billion, a PE ratio of 11.06, a PEG ratio of 2.79 and a beta of 0.49. The company has a quick ratio of 0.33, a current ratio of 0.33 and a debt-to-equity ratio of 0.28. The Travelers Companies, Inc. has a 52-week low of $230.43 and a 52-week high of $313.12.

Travelers Companies (NYSE:TRV) last released its 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 return on equity of 20.70% and a net margin of 12.88%.The business had revenue of $12.43 billion for the quarter, compared to analyst estimates of $11.13 billion. During the same quarter last year, the firm posted $9.15 earnings per share. The business’s revenue was up 3.5% compared to the same quarter last year. As a group, sell-side analysts predict that The Travelers Companies, Inc. will post 17.02 EPS for the current fiscal year.

Travelers Companies Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Tuesday, March 10th will be paid a $1.10 dividend. This represents a $4.40 annualized dividend and a yield of 1.4%. The ex-dividend date of this dividend is Tuesday, March 10th. Travelers Companies’s dividend payout ratio (DPR) is currently 15.98%.

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

Analyst Ratings Changes

TRV has been the topic of several analyst reports. Brean Capital began coverage on Travelers Companies in a research note on Thursday. They set a “neutral” rating on the stock. The Goldman Sachs Group lowered Travelers Companies from a “buy” rating to a “neutral” rating and set a $304.00 price objective for the company. in a research note on Wednesday, January 7th. Wells Fargo & Company dropped their target price on Travelers Companies from $307.00 to $285.00 and set an “equal weight” rating for the company in a report on Thursday, January 22nd. Jefferies Financial Group upgraded Travelers Companies to a “hold” rating in a report on Tuesday, January 6th. Finally, Citigroup restated a “neutral” rating on shares of Travelers Companies in a research report on Tuesday, January 27th. Two analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating, eleven have given a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, Travelers Companies presently has an average rating of “Hold” and an average target price of $304.33.

Insider Activity at Travelers Companies

In other news, CEO Alan D. Schnitzer sold 55,733 shares of the firm’s stock in a transaction that occurred on Wednesday, February 4th. The shares were sold at an average price of $294.70, for a total transaction of $16,424,515.10. Following the transaction, the chief executive officer directly owned 260,329 shares of the company’s stock, valued at approximately $76,718,956.30. This trade represents a 17.63% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Michael Frederick Klein sold 10,000 shares of Travelers Companies stock in a transaction that occurred on Friday, February 6th. The shares were sold at an average price of $301.18, for a total transaction of $3,011,800.00. Following the sale, the executive vice president directly owned 33,638 shares of the company’s stock, valued at $10,131,092.84. This represents a 22.92% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 92,845 shares of company stock worth $27,239,631. Corporate insiders own 1.46% of the company’s stock.

Travelers Companies Profile

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.