Equity Investment Corp Sells 6,738 Shares of The Travelers Companies, Inc. $TRV

Equity Investment Corp reduced its stake in The Travelers Companies, Inc. (NYSE:TRV) by 1.7% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 381,969 shares of the insurance provider’s stock after selling 6,738 shares during the period. Travelers Companies makes up approximately 2.2% of Equity Investment Corp’s investment portfolio, making the stock its 23rd biggest position. Equity Investment Corp owned about 0.17% of Travelers Companies worth $102,192,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the stock. Commonwealth Retirement Investments LLC bought a new stake in shares of Travelers Companies during the 2nd quarter valued at $1,103,000. Cassaday & Co Wealth Management LLC bought a new stake in Travelers Companies during the second quarter worth about $205,000. NewSquare Capital LLC lifted its position in Travelers Companies by 61.3% during the second quarter. NewSquare Capital LLC now owns 129 shares of the insurance provider’s stock worth $35,000 after purchasing an additional 49 shares during the period. Levin Capital Strategies L.P. lifted its position in Travelers Companies by 10.6% during the second quarter. Levin Capital Strategies L.P. now owns 10,433 shares of the insurance provider’s stock worth $2,791,000 after purchasing an additional 1,000 shares during the period. Finally, Bridgewater Advisors Inc. lifted its position in Travelers Companies by 8.1% during the second quarter. Bridgewater Advisors Inc. now owns 2,087 shares of the insurance provider’s stock worth $542,000 after purchasing an additional 157 shares during the period. 82.45% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. JPMorgan Chase & Co. upped their price target on shares of Travelers Companies from $289.00 to $297.00 and gave the stock an “underweight” rating in a report on Thursday, October 9th. Cantor Fitzgerald upgraded Travelers Companies to a “strong-buy” rating in a research note on Wednesday, August 13th. Zacks Research upgraded Travelers Companies from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, October 22nd. UBS Group upped their target price on Travelers Companies from $284.00 to $287.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 8th. Finally, The Goldman Sachs Group restated a “buy” rating on shares of Travelers Companies in a research report on Friday, October 17th. Two research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating, eleven have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $291.31.

Insider Activity

In other Travelers Companies news, EVP Michael Frederick Klein sold 8,572 shares of the stock in a transaction dated Tuesday, October 28th. The stock was sold at an average price of $270.73, for a total value of $2,320,697.56. Following the completion of the transaction, the executive vice president directly owned 33,638 shares in the company, valued at approximately $9,106,815.74. This trade represents a 20.31% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Mojgan M. Lefebvre sold 16,820 shares of the firm’s stock in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $277.54, for a total transaction of $4,668,222.80. The disclosure for this sale is available in the SEC filing. 1.46% of the stock is currently owned by company insiders.

Travelers Companies Price Performance

Shares of NYSE:TRV opened at $277.14 on Wednesday. The company has a market cap of $61.82 billion, a price-to-earnings ratio of 10.90, a PEG ratio of 2.38 and a beta of 0.51. The company has a debt-to-equity ratio of 0.29, a current ratio of 0.35 and a quick ratio of 0.35. The firm has a 50 day simple moving average of $273.87 and a 200 day simple moving average of $268.42. The Travelers Companies, Inc. has a one year low of $230.23 and a one year high of $287.95.

Travelers Companies (NYSE:TRV) last announced its quarterly earnings results on Thursday, October 16th. The insurance provider reported $8.14 EPS for the quarter, beating analysts’ consensus estimates of $6.01 by $2.13. Travelers Companies had a return on equity of 20.28% and a net margin of 12.14%.The company had revenue of $11.47 billion during the quarter, compared to analysts’ expectations of $11.15 billion. During the same period in the prior year, the company earned $5.24 EPS. Travelers Companies’s revenue was up 4.8% compared to the same quarter last year. Research analysts predict that The Travelers Companies, Inc. will post 17.02 earnings per share for the current fiscal year.

Travelers Companies Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 31st. Shareholders of record on Wednesday, December 10th will be given a $1.10 dividend. The ex-dividend date is Wednesday, December 10th. This represents a $4.40 annualized dividend and a yield of 1.6%. Travelers Companies’s dividend payout ratio (DPR) is currently 17.30%.

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.