Citigroup Inc. Cuts Position in The Travelers Companies, Inc. $TRV

Citigroup Inc. decreased its position in shares of The Travelers Companies, Inc. (NYSE:TRV) by 4.8% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 295,404 shares of the insurance provider’s stock after selling 14,787 shares during the period. Citigroup Inc.’s holdings in Travelers Companies were worth $82,483,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of TRV. Brighton Jones LLC lifted its position in Travelers Companies by 13.4% in the 4th quarter. Brighton Jones LLC now owns 3,277 shares of the insurance provider’s stock worth $789,000 after buying an additional 387 shares during the last quarter. Revolve Wealth Partners LLC purchased a new position in shares of Travelers Companies in the fourth quarter valued at about $276,000. Brookstone Capital Management raised its stake in shares of Travelers Companies by 37.5% during the second quarter. Brookstone Capital Management now owns 2,519 shares of the insurance provider’s stock valued at $674,000 after acquiring an additional 687 shares during the last quarter. Sage Mountain Advisors LLC bought a new position in shares of Travelers Companies during the second quarter valued at about $283,000. Finally, Focus Partners Advisor Solutions LLC boosted its holdings in shares of Travelers Companies by 9.2% during the second quarter. Focus Partners Advisor Solutions LLC now owns 9,653 shares of the insurance provider’s stock worth $2,581,000 after purchasing an additional 815 shares during the period. 82.45% of the stock is currently owned by hedge funds and other institutional investors.

Travelers Companies Stock Up 1.6%

TRV opened at $304.80 on Monday. The company has a market capitalization of $65.91 billion, a PE ratio of 11.07, a price-to-earnings-growth ratio of 2.84 and a beta of 0.51. The firm has a 50-day simple moving average of $287.74 and a two-hundred day simple moving average of $280.58. 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 $304.94.

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

Travelers Companies declared that its Board of Directors has approved a stock repurchase plan 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 plans are generally a sign that the company’s management believes its stock is undervalued.

Travelers Companies Announces Dividend

The company 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. This represents a $4.40 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date is Tuesday, March 10th. Travelers Companies’s dividend payout ratio is currently 15.98%.

Insider Buying and Selling at Travelers Companies

In related news, EVP Michael Frederick Klein sold 10,000 shares of the business’s stock in a transaction on Friday, February 6th. The shares were sold at an average price of $301.18, for a total value of $3,011,800.00. Following the sale, the executive vice president owned 33,638 shares in the company, valued at approximately $10,131,092.84. The trade was a 22.92% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Maria Olivo sold 10,400 shares of the stock in a transaction on Friday, February 6th. The shares were sold at an average price of $300.75, for a total transaction of $3,127,800.00. Following the transaction, the executive vice president owned 117,596 shares of the company’s stock, valued at $35,366,997. This trade represents a 8.13% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 101,765 shares of company stock valued at $29,877,543. 1.46% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of research analysts recently issued reports on TRV shares. Morgan Stanley boosted their price target on Travelers Companies from $285.00 to $295.00 and gave the company an “equal weight” rating in a report on Monday, November 17th. Evercore upped their target price on shares of Travelers Companies from $309.00 to $317.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 7th. The Goldman Sachs Group lowered Travelers Companies from a “buy” rating to a “neutral” rating and set a $304.00 price target for the company. in a research report on Wednesday, January 7th. Barclays decreased their price objective on shares of Travelers Companies from $315.00 to $312.00 and set an “equal weight” rating for the company in a report on Thursday, January 8th. Finally, Cantor Fitzgerald increased their price objective on shares of Travelers Companies from $316.00 to $319.00 and gave the company an “overweight” rating in a research report on Monday, February 2nd. Two research analysts have rated the stock with a Strong Buy rating, five have given a Buy rating, ten have given a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, Travelers Companies presently has an average rating of “Hold” and a consensus target price of $304.33.

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.