Oppenheimer Asset Management Inc. Boosts Stake in The Travelers Companies, Inc. (NYSE:TRV)

Oppenheimer Asset Management Inc. boosted its stake in shares of The Travelers Companies, Inc. (NYSE:TRV) by 2.3% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 80,758 shares of the insurance provider’s stock after buying an additional 1,823 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Travelers Companies were worth $18,907,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently bought and sold shares of TRV. JPMorgan Chase & Co. lifted its holdings in Travelers Companies by 36.8% during the first quarter. JPMorgan Chase & Co. now owns 11,743,236 shares of the insurance provider’s stock worth $2,702,588,000 after buying an additional 3,158,979 shares during the period. Acadian Asset Management LLC lifted its holdings in shares of Travelers Companies by 356.4% during the 2nd quarter. Acadian Asset Management LLC now owns 868,563 shares of the insurance provider’s stock valued at $176,589,000 after purchasing an additional 678,241 shares during the last quarter. International Assets Investment Management LLC lifted its holdings in shares of Travelers Companies by 23,378.8% during the 3rd quarter. International Assets Investment Management LLC now owns 520,291 shares of the insurance provider’s stock valued at $121,811,000 after purchasing an additional 518,075 shares during the last quarter. Zurich Insurance Group Ltd FI purchased a new stake in shares of Travelers Companies during the 1st quarter valued at $88,190,000. Finally, Renaissance Technologies LLC lifted its holdings in shares of Travelers Companies by 324.9% during the 2nd quarter. Renaissance Technologies LLC now owns 301,584 shares of the insurance provider’s stock valued at $61,324,000 after purchasing an additional 230,612 shares during the last quarter. Hedge funds and other institutional investors own 82.45% of the company’s stock.

Insider Buying and Selling

In related news, CEO Alan D. Schnitzer sold 40,524 shares of Travelers Companies stock in a transaction dated Monday, October 21st. The stock was sold at an average price of $260.12, for a total value of $10,541,102.88. Following the sale, the chief executive officer now directly owns 221,924 shares in the company, valued at approximately $57,726,870.88. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, EVP Diane Kurtzman sold 3,941 shares of the business’s stock in a transaction that occurred on Monday, October 21st. The stock was sold at an average price of $260.45, for a total transaction of $1,026,433.45. Following the transaction, the executive vice president now directly owns 1,715 shares in the company, valued at $446,671.75. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Alan D. Schnitzer sold 40,524 shares of the business’s stock in a transaction that occurred on Monday, October 21st. The stock was sold at an average price of $260.12, for a total value of $10,541,102.88. Following the transaction, the chief executive officer now owns 221,924 shares in the company, valued at approximately $57,726,870.88. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 63,999 shares of company stock worth $16,580,166. Insiders own 1.33% of the company’s stock.

Wall Street Analysts Forecast Growth

TRV has been the subject of several analyst reports. Jefferies Financial Group increased their price objective on Travelers Companies from $210.00 to $235.00 and gave the company a “hold” rating in a report on Wednesday, October 9th. Keefe, Bruyette & Woods upped their target price on Travelers Companies from $245.00 to $273.00 and gave the company a “market perform” rating in a research report on Tuesday, October 22nd. The Goldman Sachs Group lifted their price target on Travelers Companies from $216.00 to $245.00 and gave the stock a “sell” rating in a research report on Tuesday, October 22nd. Deutsche Bank Aktiengesellschaft lifted their price target on Travelers Companies from $221.00 to $234.00 and gave the stock a “hold” rating in a research report on Wednesday, August 7th. Finally, StockNews.com raised Travelers Companies from a “hold” rating to a “buy” rating in a research report on Thursday, October 31st. Four research analysts have rated the stock with a sell rating, thirteen have given a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $247.90.

Travelers Companies Price Performance

Shares of Travelers Companies stock traded down $0.88 on Wednesday, hitting $257.11. The company’s stock had a trading volume of 39,811 shares, compared to its average volume of 1,301,747. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.34 and a current ratio of 0.34. The Travelers Companies, Inc. has a 1 year low of $167.08 and a 1 year high of $269.55. The firm has a fifty day moving average price of $242.91 and a 200-day moving average price of $223.53. The company has a market capitalization of $58.37 billion, a price-to-earnings ratio of 13.23, a price-to-earnings-growth ratio of 1.24 and a beta of 0.62.

Travelers Companies (NYSE:TRV) last posted its quarterly earnings data on Thursday, October 17th. The insurance provider reported $5.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.79 by $1.45. Travelers Companies had a return on equity of 17.69% and a net margin of 10.02%. The company had revenue of $11.90 billion for the quarter, compared to analysts’ expectations of $11.46 billion. During the same period in the previous year, the firm posted $1.95 EPS. Travelers Companies’s revenue was up 11.9% compared to the same quarter last year. As a group, sell-side analysts anticipate that The Travelers Companies, Inc. will post 18.64 earnings per share for the current fiscal year.

Travelers Companies Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Tuesday, December 10th will be issued a $1.05 dividend. This represents a $4.20 annualized dividend and a yield of 1.63%. The ex-dividend date is Tuesday, December 10th. Travelers Companies’s payout ratio is 21.54%.

About Travelers Companies

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.