Panagora Asset Management Inc. Sells 7,340 Shares of The Travelers Companies, Inc. $TRV

Panagora Asset Management Inc. cut its holdings in shares of The Travelers Companies, Inc. (NYSE:TRV) by 5.9% during the 4th quarter, Holdings Channel reports. The firm owned 117,710 shares of the insurance provider’s stock after selling 7,340 shares during the period. Panagora Asset Management Inc.’s holdings in Travelers Companies were worth $34,143,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently made changes to their positions in TRV. Brighton Jones LLC increased its holdings in shares of Travelers Companies by 13.4% during the fourth quarter. Brighton Jones LLC now owns 3,277 shares of the insurance provider’s stock worth $789,000 after purchasing an additional 387 shares during the period. Revolve Wealth Partners LLC bought a new position in shares of Travelers Companies during the fourth quarter worth approximately $276,000. WINTON GROUP Ltd bought a new position in shares of Travelers Companies during the second quarter worth approximately $382,000. CIBC Asset Management Inc increased its stake in Travelers Companies by 13.9% in the second quarter. CIBC Asset Management Inc now owns 68,537 shares of the insurance provider’s stock valued at $18,336,000 after acquiring an additional 8,383 shares during the last quarter. Finally, Treasurer of the State of North Carolina increased its stake in Travelers Companies by 2.0% in the second quarter. Treasurer of the State of North Carolina now owns 105,605 shares of the insurance provider’s stock valued at $28,254,000 after acquiring an additional 2,117 shares during the last quarter. 82.45% of the stock is owned by institutional investors.

Analysts Set New Price Targets

TRV has been the subject of several recent analyst reports. Roth Mkm restated a “buy” rating on shares of Travelers Companies in a research note on Monday, April 20th. Wells Fargo & Company raised their target price on Travelers Companies from $285.00 to $305.00 and gave the company an “equal weight” rating in a report on Thursday, April 9th. Brean Capital began coverage on Travelers Companies in a report on Thursday, March 12th. They issued a “neutral” rating on the stock. Evercore reaffirmed an “outperform” rating on shares of Travelers Companies in a report on Friday, April 17th. Finally, Bank of America reduced their target price on Travelers Companies from $259.00 to $257.00 and set an “underperform” rating on the stock in a report on Tuesday, April 14th. Two equities research analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating, ten have assigned a Hold rating and three have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Travelers Companies has a consensus rating of “Hold” and a consensus price target of $309.07.

Travelers Companies Trading Up 0.8%

Shares of TRV stock opened at $306.89 on Tuesday. The stock’s fifty day moving average price is $300.48 and its two-hundred day moving average price is $294.64. The company has a market cap of $65.26 billion, a PE ratio of 9.13, a P/E/G ratio of 2.75 and a beta of 0.48. The Travelers Companies, Inc. has a fifty-two week low of $249.19 and a fifty-two week high of $313.12. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.35 and a current ratio of 0.35.

Travelers Companies (NYSE:TRV) last announced its quarterly earnings results on Thursday, April 16th. The insurance provider reported $7.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.80 by $0.91. The company had revenue of $11.92 billion during the quarter, compared to the consensus estimate of $11.11 billion. Travelers Companies had a net margin of 15.54% and a return on equity of 24.06%. The company’s revenue for the quarter was down 1.7% compared to the same quarter last year. During the same period in the prior year, the business earned $1.91 earnings per share. Equities analysts predict that The Travelers Companies, Inc. will post 28 EPS for the current fiscal year.

Travelers Companies Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Wednesday, June 10th will be issued a dividend of $1.25 per share. This represents a $5.00 annualized dividend and a dividend yield of 1.6%. This is a boost from Travelers Companies’s previous quarterly dividend of $1.10. The ex-dividend date is Wednesday, June 10th. Travelers Companies’s dividend payout ratio (DPR) is currently 14.88%.

Insider Activity at Travelers Companies

In other news, Vice Chairman William H. Heyman sold 1,557 shares of the company’s stock in a transaction on Tuesday, April 28th. The shares were sold at an average price of $310.64, for a total transaction of $483,666.48. Following the completion of the transaction, the insider directly owned 259,590 shares in the company, valued at approximately $80,639,037.60. This represents a 0.60% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Diane Kurtzman sold 2,867 shares of the company’s stock in a transaction on Monday, April 20th. The stock was sold at an average price of $303.45, for a total transaction of $869,991.15. Following the transaction, the executive vice president owned 5,298 shares of the company’s stock, valued at $1,607,678.10. This trade represents a 35.11% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 37,573 shares of company stock valued at $11,504,146. 1.39% of the stock is owned by company insiders.

About Travelers Companies

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.