Gabelli Funds LLC Decreases Holdings in Travelers Companies Inc (NYSE:TRV)

Gabelli Funds LLC lessened its stake in shares of Travelers Companies Inc (NYSE:TRV) by 0.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 135,000 shares of the insurance provider’s stock after selling 1,000 shares during the period. Gabelli Funds LLC’s holdings in Travelers Companies were worth $18,311,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. Carnick & Kubik Group LLC bought a new position in Travelers Companies in the third quarter worth $758,000. Robeco Institutional Asset Management B.V. bought a new position in Travelers Companies in the third quarter worth $78,058,000. Point72 Asset Management L.P. bought a new position in shares of Travelers Companies during the third quarter valued at $8,254,000. Abner Herrman & Brock LLC lifted its holdings in shares of Travelers Companies by 6.5% during the fourth quarter. Abner Herrman & Brock LLC now owns 62,879 shares of the insurance provider’s stock valued at $8,529,000 after acquiring an additional 3,853 shares during the period. Finally, Mitsubishi UFJ Kokusai Asset Management Co. Ltd. lifted its holdings in shares of Travelers Companies by 4.6% during the third quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 58,457 shares of the insurance provider’s stock valued at $7,162,000 after acquiring an additional 2,567 shares during the period. Institutional investors and hedge funds own 78.59% of the company’s stock.

In other news, EVP Thomas M. Kunkel sold 9,595 shares of the company’s stock in a transaction that occurred on Friday, January 26th. The stock was sold at an average price of $150.09, for a total transaction of $1,440,113.55. Following the sale, the executive vice president now owns 28,956 shares in the company, valued at approximately $4,346,006.04. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Todd C. Schermerhorn acquired 1,120 shares of the company’s stock in a transaction dated Thursday, December 7th. The shares were bought at an average price of $134.21 per share, for a total transaction of $150,315.20. The disclosure for this purchase can be found here. In the last quarter, insiders have sold 181,599 shares of company stock worth $26,221,541. Company insiders own 0.82% of the company’s stock.

A number of brokerages have issued reports on TRV. Zacks Investment Research raised Travelers Companies from a “sell” rating to a “hold” rating in a report on Thursday, October 26th. Royal Bank of Canada reaffirmed a “buy” rating and issued a $148.00 price target on shares of Travelers Companies in a report on Friday, December 8th. Morgan Stanley lifted their price target on Travelers Companies from $119.00 to $124.00 and gave the company an “underweight” rating in a report on Friday, October 20th. Argus lifted their price objective on Travelers Companies from $139.00 to $145.00 and gave the stock a “positive” rating in a research report on Monday, October 23rd. They noted that the move was a valuation call. Finally, ValuEngine lowered Travelers Companies from a “buy” rating to a “hold” rating in a research report on Wednesday, January 3rd. Three research analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have assigned a buy rating to the company’s stock. Travelers Companies has an average rating of “Hold” and a consensus price target of $136.07.

Travelers Companies Inc (TRV) opened at $140.60 on Thursday. The stock has a market capitalization of $37,610.61, a P/E ratio of 19.06, a P/E/G ratio of 1.85 and a beta of 1.26. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.39 and a quick ratio of 0.41. Travelers Companies Inc has a 12-month low of $113.76 and a 12-month high of $150.55.

Travelers Companies (NYSE:TRV) last released its earnings results on Tuesday, January 23rd. The insurance provider reported $2.28 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $2.56 by ($0.28). The firm had revenue of $7.45 billion during the quarter, compared to the consensus estimate of $6.47 billion. Travelers Companies had a net margin of 7.13% and a return on equity of 8.61%. The company’s revenue was up 3.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $3.20 EPS. research analysts anticipate that Travelers Companies Inc will post 10.59 earnings per share for the current fiscal year.

Travelers Companies announced that its Board of Directors has initiated a share repurchase program on Thursday, November 9th that authorizes the company to buyback outstanding shares. This buyback authorization authorizes the insurance provider to reacquire shares of its stock through open market purchases. Stock buyback programs are often an indication that the company’s leadership believes its stock is undervalued.

The company also recently announced a quarterly dividend, which will be paid on Friday, March 30th. Shareholders of record on Friday, March 9th will be paid a $0.72 dividend. This represents a $2.88 annualized dividend and a yield of 2.05%. The ex-dividend date of this dividend is Thursday, March 8th. Travelers Companies’s payout ratio is 39.40%.

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Travelers Companies Company Profile

The Travelers Companies, Inc is a holding company. The Company’s segments include Business and International Insurance; Bond & Specialty Insurance, and Personal Insurance. Through its subsidiaries, it provides commercial and personal property and casualty insurance products and services. The Business and International Insurance segment offers property and casualty insurance and insurance related services to its clients, in the United States and in Canada, as well as in the United Kingdom, the Republic of Ireland, Brazil and throughout other parts of the world.

Institutional Ownership by Quarter for Travelers Companies (NYSE:TRV)

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