Envestnet Portfolio Solutions Inc. Has $2.29 Million Position in The Travelers Companies, Inc. $TRV

Envestnet Portfolio Solutions Inc. trimmed its stake in The Travelers Companies, Inc. (NYSE:TRV) by 53.9% in the third quarter, HoldingsChannel reports. The firm owned 8,205 shares of the insurance provider’s stock after selling 9,582 shares during the period. Envestnet Portfolio Solutions Inc.’s holdings in Travelers Companies were worth $2,291,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in TRV. Valeo Financial Advisors LLC boosted its position in shares of Travelers Companies by 71,265.9% during the 2nd quarter. Valeo Financial Advisors LLC now owns 3,616,826 shares of the insurance provider’s stock worth $967,646,000 after purchasing an additional 3,611,758 shares in the last quarter. Norges Bank bought a new position in Travelers Companies in the second quarter worth approximately $815,013,000. JPMorgan Chase & Co. boosted its holdings in Travelers Companies by 10.9% in the second quarter. JPMorgan Chase & Co. now owns 7,626,750 shares of the insurance provider’s stock worth $2,040,475,000 after acquiring an additional 751,715 shares in the last quarter. Rakuten Investment Management Inc. bought a new stake in shares of Travelers Companies during the third quarter valued at approximately $112,051,000. Finally, Nordea Investment Management AB raised its position in shares of Travelers Companies by 1,641.3% during the third quarter. Nordea Investment Management AB now owns 379,480 shares of the insurance provider’s stock worth $105,537,000 after purchasing an additional 357,687 shares during the period. Institutional investors and hedge funds own 82.45% of the company’s stock.

Travelers Companies Price Performance

Travelers Companies stock opened at $281.70 on Tuesday. The Travelers Companies, Inc. has a 52 week low of $230.43 and a 52 week high of $296.85. The company’s 50 day moving average price is $285.14 and its two-hundred day moving average price is $276.11. The stock has a market cap of $62.84 billion, a P/E ratio of 10.23, a P/E/G ratio of 2.63 and a beta of 0.52. The company has a quick ratio of 0.35, a current ratio of 0.33 and a debt-to-equity ratio of 0.28.

Travelers Companies (NYSE:TRV) last released its earnings results on Wednesday, January 21st. The insurance provider reported $11.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $8.34 by $2.79. The company had revenue of $12.43 billion during the quarter, compared to analyst estimates of $11.13 billion. Travelers Companies had a return on equity of 20.70% and a net margin of 12.88%.Travelers Companies’s quarterly revenue was up 3.5% on a year-over-year basis. During the same period in the prior year, the company posted $9.15 earnings per share. On average, equities analysts predict that The Travelers Companies, Inc. will post 17.02 earnings per share for the current year.

Travelers Companies declared that its Board of Directors has authorized a stock repurchase plan on Wednesday, January 21st that permits the company to buyback $5.00 billion in shares. This buyback authorization permits the insurance provider to purchase up to 8.3% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s management believes its shares are undervalued.

Travelers Companies Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Tuesday, March 10th will be given a dividend of $1.10 per share. The ex-dividend date of this dividend is Tuesday, March 10th. This represents a $4.40 annualized dividend and a dividend yield of 1.6%. Travelers Companies’s dividend payout ratio (DPR) is currently 15.98%.

Insiders Place Their Bets

In related news, EVP Jeffrey P. Klenk sold 16,712 shares of the business’s stock in a transaction dated Friday, January 23rd. The shares were sold at an average price of $279.77, for a total value of $4,675,516.24. Following the transaction, the executive vice president directly owned 6,075 shares of the company’s stock, valued at approximately $1,699,602.75. The trade was a 73.34% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Maria Olivo sold 8,920 shares of the stock in a transaction dated Wednesday, November 26th. The shares were sold at an average price of $295.73, for a total transaction of $2,637,911.60. Following the transaction, the executive vice president owned 117,596 shares of the company’s stock, valued at approximately $34,776,665.08. The trade was a 7.05% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 54,435 shares of company stock valued at $15,366,736. 1.46% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

TRV has been the subject of a number of recent research reports. Barclays decreased their price target on shares of Travelers Companies from $315.00 to $312.00 and set an “equal weight” rating for the company in a research note on Thursday, January 8th. Cantor Fitzgerald boosted their target price on shares of Travelers Companies from $308.00 to $316.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 14th. Piper Sandler upped their target price on shares of Travelers Companies from $320.00 to $322.00 and gave the stock an “overweight” rating in a report on Friday, October 17th. Zacks Research downgraded Travelers Companies from a “strong-buy” rating to a “hold” rating in a research note on Monday, December 22nd. Finally, Evercore ISI increased their price objective on Travelers Companies from $309.00 to $317.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 7th. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, twelve have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Travelers Companies presently has a consensus rating of “Hold” and a consensus price target of $301.20.

Travelers Companies Company 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.