Pitcairn Co. Has $867,000 Position in The Travelers Companies, Inc. (NYSE:TRV)

Pitcairn Co. reduced its holdings in The Travelers Companies, Inc. (NYSE:TRV) by 11.3% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 3,705 shares of the insurance provider’s stock after selling 474 shares during the quarter. Pitcairn Co.’s holdings in Travelers Companies were worth $867,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in TRV. Quent Capital LLC increased its stake in Travelers Companies by 19.7% in the 1st quarter. Quent Capital LLC now owns 1,375 shares of the insurance provider’s stock valued at $316,000 after buying an additional 226 shares during the last quarter. Bayesian Capital Management LP bought a new position in shares of Travelers Companies in the 1st quarter valued at about $959,000. B. Riley Wealth Advisors Inc. grew its position in shares of Travelers Companies by 265.6% in the 1st quarter. B. Riley Wealth Advisors Inc. now owns 9,695 shares of the insurance provider’s stock valued at $2,231,000 after acquiring an additional 7,043 shares during the period. California State Teachers Retirement System grew its position in shares of Travelers Companies by 0.4% in the 1st quarter. California State Teachers Retirement System now owns 372,074 shares of the insurance provider’s stock valued at $85,629,000 after acquiring an additional 1,507 shares during the period. Finally, Tidal Investments LLC grew its position in shares of Travelers Companies by 4.9% in the 1st quarter. Tidal Investments LLC now owns 3,914 shares of the insurance provider’s stock valued at $900,000 after acquiring an additional 184 shares during the period. 82.45% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on TRV shares. Barclays lifted their price objective on shares of Travelers Companies from $286.00 to $295.00 and gave the company an “overweight” rating in a research report on Wednesday, October 23rd. BMO Capital Markets lifted their price objective on shares of Travelers Companies from $233.00 to $270.00 and gave the company an “outperform” rating in a research report on Tuesday, October 22nd. The Goldman Sachs Group lifted their price objective on shares of Travelers Companies from $216.00 to $245.00 and gave the company a “sell” rating in a research report on Tuesday, October 22nd. Citigroup lifted their target price on shares of Travelers Companies from $200.00 to $203.00 and gave the stock a “sell” rating in a report on Tuesday, July 30th. Finally, Bank of America lifted their target price on shares of Travelers Companies from $241.00 to $265.00 and gave the stock an “underperform” rating in a report on Thursday, October 17th. Four research analysts have rated the stock with a sell rating, fifteen have given a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Travelers Companies has an average rating of “Hold” and a consensus target price of $251.15.

Insider Activity

In related news, EVP Andy F. Bessette sold 4,520 shares of the company’s stock in a transaction that occurred on Monday, October 28th. The shares were sold at an average price of $253.46, for a total transaction of $1,145,639.20. Following the completion of the transaction, the executive vice president now directly owns 16,976 shares in the company, valued at $4,302,736.96. This represents a 21.03 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Alan D. Schnitzer sold 40,524 shares of the company’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 transaction of $10,541,102.88. Following the transaction, the chief executive officer now owns 221,924 shares of the company’s stock, valued at approximately $57,726,870.88. This represents a 15.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 74,409 shares of company stock worth $19,305,504. 1.33% of the stock is currently owned by corporate insiders.

Travelers Companies Stock Performance

NYSE TRV opened at $262.47 on Monday. The firm has a 50-day moving average price of $246.83 and a two-hundred day moving average price of $226.06. The company has a market capitalization of $59.59 billion, a P/E ratio of 13.46, a P/E/G ratio of 1.24 and a beta of 0.62. The company has a quick ratio of 0.34, a current ratio of 0.34 and a debt-to-equity ratio of 0.29. The Travelers Companies, Inc. has a 12-month low of $175.88 and a 12-month high of $269.55.

Travelers Companies (NYSE:TRV) last issued its earnings results on Thursday, October 17th. The insurance provider reported $5.24 EPS for the quarter, beating the consensus estimate of $3.79 by $1.45. The company had revenue of $11.90 billion during the quarter, compared to analysts’ expectations of $11.46 billion. Travelers Companies had a net margin of 10.02% and a return on equity of 17.69%. The business’s revenue for the quarter was up 11.9% compared to the same quarter last year. During the same period in the previous year, the company earned $1.95 EPS. Analysts anticipate that The Travelers Companies, Inc. will post 18.83 earnings per share for the current year.

Travelers Companies Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Tuesday, December 10th will be given a $1.05 dividend. This represents a $4.20 annualized dividend and a dividend yield of 1.60%. The ex-dividend date is Tuesday, December 10th. Travelers Companies’s payout ratio is presently 21.54%.

Travelers Companies Profile

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.