Pictet Asset Management Holding SA reduced its position in The Travelers Companies, Inc. (NYSE:TRV – Free Report) by 13.4% in the first quarter, HoldingsChannel.com reports. The firm owned 136,938 shares of the insurance provider’s stock after selling 21,165 shares during the period. Pictet Asset Management Holding SA’s holdings in Travelers Companies were worth $39,942,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently modified their holdings of the company. HHM Wealth Advisors LLC lifted its position in shares of Travelers Companies by 145.7% in the first quarter. HHM Wealth Advisors LLC now owns 86 shares of the insurance provider’s stock valued at $25,000 after acquiring an additional 51 shares in the last quarter. Kemnay Advisory Services Inc. purchased a new stake in shares of Travelers Companies during the fourth quarter worth about $26,000. Osterweis Capital Management Inc. raised its stake in Travelers Companies by 1,820.0% during the 2nd quarter. Osterweis Capital Management Inc. now owns 96 shares of the insurance provider’s stock valued at $26,000 after purchasing an additional 91 shares during the period. Kohmann Bosshard Financial Services LLC bought a new stake in Travelers Companies during the 4th quarter valued at approximately $28,000. Finally, Entrust Financial LLC purchased a new position in Travelers Companies in the 4th quarter worth approximately $31,000. 82.45% of the stock is currently owned by institutional investors.
Insider Buying and Selling at Travelers Companies
In other news, insider Avrohom J. Kess sold 6,735 shares of the business’s stock in a transaction dated Tuesday, April 28th. The shares were sold at an average price of $308.78, for a total value of $2,079,633.30. Following the sale, the insider directly owned 48,737 shares in the company, valued at $15,049,010.86. The trade was a 12.14% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Michael Frederick Klein sold 10,000 shares of the company’s stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $307.65, for a total transaction of $3,076,500.00. Following the sale, the executive vice president owned 45,125 shares in the company, valued at $13,882,706.25. This represents a 18.14% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 37,573 shares of company stock valued at $11,504,146 over the last ninety days. Corporate insiders own 1.39% of the company’s stock.
Travelers Companies Price Performance
Travelers Companies (NYSE:TRV – Get Free Report) last released its quarterly earnings data on Thursday, April 16th. The insurance provider reported $7.71 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $6.80 by $0.91. The business had revenue of $11.92 billion for the quarter, compared to the consensus estimate of $11.11 billion. Travelers Companies had a return on equity of 24.06% and a net margin of 15.54%.The company’s revenue was down 1.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.91 EPS. On average, research analysts expect that The Travelers Companies, Inc. will post 28 EPS for the current fiscal year.
Travelers Companies Increases Dividend
The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Wednesday, June 10th were paid a dividend of $1.25 per share. The ex-dividend date of this dividend was Wednesday, June 10th. This is a positive change from Travelers Companies’s previous quarterly dividend of $1.10. This represents a $5.00 dividend on an annualized basis and a yield of 1.5%. Travelers Companies’s payout ratio is currently 14.88%.
Wall Street Analyst Weigh In
A number of equities research analysts have issued reports on TRV shares. Roth Mkm reaffirmed a “buy” rating on shares of Travelers Companies in a report on Monday, April 20th. Brean Capital initiated coverage on shares of Travelers Companies in a report on Thursday, March 12th. They issued a “neutral” rating on the stock. Seaport Research Partners set a $322.00 target price on shares of Travelers Companies in a research report on Tuesday, May 26th. Weiss Ratings reaffirmed a “buy (a-)” rating on shares of Travelers Companies in a research note on Friday, May 8th. Finally, Piper Sandler lifted their price target on shares of Travelers Companies from $329.00 to $340.00 and gave the company an “overweight” rating in a report on Tuesday, May 26th. 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 given a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $309.07.
Check Out Our Latest Research Report on Travelers Companies
Travelers Companies 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.
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Want to see what other hedge funds are holding TRV? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for The Travelers Companies, Inc. (NYSE:TRV – Free Report).
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