Markston International LLC Cuts Stake in The Travelers Companies, Inc. (TRV)

Markston International LLC trimmed its position in The Travelers Companies, Inc. (NYSE:TRV) by 5.6% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 133,555 shares of the insurance provider’s stock after selling 7,908 shares during the period. The Travelers Companies makes up approximately 1.6% of Markston International LLC’s investment portfolio, making the stock its 17th largest holding. Markston International LLC’s holdings in The Travelers Companies were worth $16,899,000 at the end of the most recent reporting period.

Several other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. lifted its holdings in shares of The Travelers Companies by 3.0% in the first quarter. Vanguard Group Inc. now owns 21,551,932 shares of the insurance provider’s stock valued at $2,597,871,000 after purchasing an additional 633,510 shares in the last quarter. BlackRock Inc. lifted its holdings in shares of The Travelers Companies by 2,395.6% in the first quarter. BlackRock Inc. now owns 20,403,051 shares of the insurance provider’s stock valued at $2,459,383,000 after purchasing an additional 19,585,476 shares in the last quarter. State Street Corp lifted its holdings in shares of The Travelers Companies by 1.6% in the first quarter. State Street Corp now owns 18,949,803 shares of the insurance provider’s stock valued at $2,284,205,000 after purchasing an additional 304,049 shares in the last quarter. FMR LLC lifted its holdings in shares of The Travelers Companies by 42.1% in the first quarter. FMR LLC now owns 6,596,545 shares of the insurance provider’s stock valued at $795,148,000 after purchasing an additional 1,954,573 shares in the last quarter. Finally, AQR Capital Management LLC lifted its holdings in shares of The Travelers Companies by 9.4% in the first quarter. AQR Capital Management LLC now owns 3,026,207 shares of the insurance provider’s stock valued at $364,779,000 after purchasing an additional 260,838 shares in the last quarter. Institutional investors own 77.55% of the company’s stock.

A number of brokerages have recently commented on TRV. BidaskClub lowered The Travelers Companies from a “buy” rating to a “hold” rating in a report on Wednesday, July 12th. Vetr upgraded The Travelers Companies from a “hold” rating to a “buy” rating and set a $132.68 target price on the stock in a report on Tuesday, June 27th. Keefe, Bruyette & Woods reiterated a “hold” rating and set a $115.00 target price on shares of The Travelers Companies in a report on Thursday, May 25th. Barclays PLC upped their target price on The Travelers Companies from $119.00 to $122.00 and gave the stock an “equal weight” rating in a report on Friday, August 11th. Finally, Zacks Investment Research lowered The Travelers Companies from a “hold” rating to a “sell” rating in a report on Tuesday, September 5th. Six equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and eight have issued a buy rating to the company. The Travelers Companies presently has a consensus rating of “Hold” and a consensus target price of $126.26.

Shares of The Travelers Companies, Inc. (NYSE TRV) opened at 122.48 on Wednesday. The Travelers Companies, Inc. has a 1-year low of $103.45 and a 1-year high of $130.37. The company has a market cap of $33.80 billion, a price-to-earnings ratio of 12.20 and a beta of 1.21. The firm has a 50-day moving average price of $125.75 and a 200 day moving average price of $123.88.

The Travelers Companies (NYSE:TRV) last posted its earnings results on Thursday, July 20th. The insurance provider reported $1.92 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $2.07 by ($0.15). The Travelers Companies had a return on equity of 11.68% and a net margin of 10.15%. The firm had revenue of $6.35 billion for the quarter, compared to the consensus estimate of $6.31 billion. During the same period in the prior year, the business earned $2.20 EPS. The Travelers Companies’s quarterly revenue was up 4.7% compared to the same quarter last year. On average, analysts predict that The Travelers Companies, Inc. will post $8.89 EPS for the current fiscal year.

The Travelers Companies declared that its board has approved a stock buyback program on Monday, September 11th that permits the company to buyback outstanding shares. This buyback authorization permits the insurance provider to reacquire shares of its stock through open market purchases. Shares buyback programs are often an indication that the company’s leadership believes its shares are undervalued.

The company also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Friday, September 8th will be given a dividend of $0.72 per share. The ex-dividend date of this dividend is Thursday, September 7th. This represents a $2.88 annualized dividend and a dividend yield of 2.35%. The Travelers Companies’s dividend payout ratio is currently 28.77%.

In other The Travelers Companies news, Vice Chairman Jay S. Benet sold 5,518 shares of The Travelers Companies stock in a transaction that occurred on Monday, June 19th. The shares were sold at an average price of $128.72, for a total transaction of $710,276.96. Following the transaction, the insider now owns 82,824 shares of the company’s stock, valued at approximately $10,661,105.28. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Vice Chairman Jay S. Benet sold 16,566 shares of The Travelers Companies stock in a transaction that occurred on Wednesday, August 9th. The stock was sold at an average price of $130.01, for a total transaction of $2,153,745.66. Following the transaction, the insider now directly owns 93,872 shares in the company, valued at approximately $12,204,298.72. The disclosure for this sale can be found here. In the last three months, insiders have sold 150,395 shares of company stock worth $19,249,559. Insiders own 0.82% of the company’s stock.

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About The Travelers Companies

The Travelers Companies, Inc is a holding company. The Company’s segments include Business and International Insurance; Bond & Specialty Insurance, and Personal Insurance. Through its subsidiaries, it provides commercial and personal property and casualty insurance products and services. The Business and International Insurance segment offers property and casualty insurance and insurance related services to its clients, in the United States and in Canada, as well as in the United Kingdom, the Republic of Ireland, Brazil and throughout other parts of the world.

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Institutional Ownership by Quarter for The Travelers Companies (NYSE:TRV)

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