Massachusetts Financial Services Co. MA Cuts Position in The Travelers Companies, Inc. (NYSE:TRV)

Massachusetts Financial Services Co. MA trimmed its holdings in shares of The Travelers Companies, Inc. (NYSE:TRV) by 2.4% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 6,920,542 shares of the insurance provider’s stock after selling 173,131 shares during the period. Massachusetts Financial Services Co. MA’s holdings in Travelers Companies were worth $1,407,223,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Drive Wealth Management LLC raised its stake in Travelers Companies by 2.8% during the second quarter. Drive Wealth Management LLC now owns 1,771 shares of the insurance provider’s stock valued at $360,000 after buying an additional 48 shares during the last quarter. Wealth Quarterback LLC boosted its stake in Travelers Companies by 1.1% in the 4th quarter. Wealth Quarterback LLC now owns 4,333 shares of the insurance provider’s stock worth $825,000 after purchasing an additional 49 shares in the last quarter. Kapitalo Investimentos Ltda grew its position in Travelers Companies by 24.1% during the 4th quarter. Kapitalo Investimentos Ltda now owns 252 shares of the insurance provider’s stock valued at $48,000 after purchasing an additional 49 shares during the last quarter. Massmutual Trust Co. FSB ADV raised its holdings in Travelers Companies by 9.8% in the first quarter. Massmutual Trust Co. FSB ADV now owns 561 shares of the insurance provider’s stock worth $129,000 after buying an additional 50 shares during the last quarter. Finally, Norwood Financial Corp lifted its stake in shares of Travelers Companies by 16.1% in the first quarter. Norwood Financial Corp now owns 360 shares of the insurance provider’s stock worth $83,000 after buying an additional 50 shares in the last quarter. 82.45% of the stock is owned by institutional investors.

Analysts Set New Price Targets

TRV has been the subject of several analyst reports. Barclays initiated coverage on shares of Travelers Companies in a research report on Wednesday, September 4th. They set an “overweight” rating and a $286.00 price target for the company. JPMorgan Chase & Co. boosted their price target on Travelers Companies from $220.00 to $242.00 and gave the stock an “underweight” rating in a research note on Thursday, July 11th. Deutsche Bank Aktiengesellschaft increased their price objective on Travelers Companies from $221.00 to $234.00 and gave the company a “hold” rating in a research report on Wednesday, August 7th. Royal Bank of Canada reissued a “sector perform” rating and issued a $225.00 target price on shares of Travelers Companies in a research report on Monday, July 22nd. Finally, TD Cowen lowered shares of Travelers Companies from a “buy” rating to a “hold” rating and reduced their price target for the stock from $252.00 to $230.00 in a research note on Monday, July 15th. Four investment analysts have rated the stock with a sell rating, fourteen have given a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Travelers Companies has an average rating of “Hold” and an average target price of $227.05.

Insiders Place Their Bets

In other news, EVP Michael Frederick Klein sold 10,000 shares of the company’s stock in a transaction dated Thursday, July 25th. The shares were sold at an average price of $211.44, for a total transaction of $2,114,400.00. Following the sale, the executive vice president now directly owns 22,798 shares in the company, valued at approximately $4,820,409.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 1.33% of the company’s stock.

Travelers Companies Stock Up 1.6 %

Shares of TRV stock opened at $237.83 on Monday. The stock has a market cap of $54.21 billion, a P/E ratio of 17.67, a PEG ratio of 1.22 and a beta of 0.62. The company’s fifty day simple moving average is $218.12 and its two-hundred day simple moving average is $216.82. The company has a quick ratio of 0.33, a current ratio of 0.33 and a debt-to-equity ratio of 0.32. The Travelers Companies, Inc. has a 52 week low of $157.33 and a 52 week high of $242.89.

Travelers Companies (NYSE:TRV) last announced its quarterly earnings results on Friday, July 19th. The insurance provider reported $2.51 EPS for the quarter, missing analysts’ consensus estimates of $3.23 by ($0.72). The firm had revenue of $11.28 billion for the quarter, compared to the consensus estimate of $11.35 billion. Travelers Companies had a net margin of 8.37% and a return on equity of 15.90%. Travelers Companies’s quarterly revenue was up 11.7% on a year-over-year basis. During the same period in the previous year, the company posted $0.06 earnings per share. Analysts predict that The Travelers Companies, Inc. will post 17.19 EPS for the current fiscal year.

Travelers Companies Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Tuesday, September 10th will be given a dividend of $1.05 per share. The ex-dividend date of this dividend is Tuesday, September 10th. This represents a $4.20 annualized dividend and a yield of 1.77%. Travelers Companies’s dividend payout ratio (DPR) is currently 31.20%.

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.