Gabelli Funds LLC Trims Stake in The Travelers Companies, Inc. (NYSE:TRV)

Gabelli Funds LLC lessened its position in The Travelers Companies, Inc. (NYSE:TRV) by 7.8% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 68,200 shares of the insurance provider’s stock after selling 5,800 shares during the quarter. Gabelli Funds LLC’s holdings in Travelers Companies were worth $13,868,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Y.D. More Investments Ltd bought a new stake in shares of Travelers Companies during the 2nd quarter valued at $25,000. Pathway Financial Advisers LLC purchased a new position in Travelers Companies during the 1st quarter valued at about $35,000. Beacon Capital Management LLC boosted its stake in Travelers Companies by 74.2% during the first quarter. Beacon Capital Management LLC now owns 155 shares of the insurance provider’s stock worth $36,000 after acquiring an additional 66 shares in the last quarter. Opal Wealth Advisors LLC purchased a new stake in Travelers Companies in the first quarter worth about $42,000. Finally, Tributary Capital Management LLC bought a new position in shares of Travelers Companies during the first quarter valued at approximately $45,000. 82.45% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the stock. William Blair reiterated a “market perform” rating on shares of Travelers Companies in a report on Friday, June 28th. Piper Sandler cut their target price on Travelers Companies from $213.00 to $207.00 and set a “neutral” rating on the stock in a research note on Monday, July 22nd. Bank of America lifted their price target on Travelers Companies from $202.00 to $223.00 and gave the stock an “underperform” rating in a research report on Monday, July 22nd. TD Cowen downgraded shares of Travelers Companies from a “buy” rating to a “hold” rating and cut their price objective for the company from $252.00 to $230.00 in a research report on Monday, July 15th. Finally, Morgan Stanley reduced their price objective on shares of Travelers Companies from $220.00 to $210.00 and set an “equal weight” rating for the company in a research note on Friday, July 19th. Four research analysts have rated the stock with a sell rating, thirteen have given a hold rating, five have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Travelers Companies presently has a consensus rating of “Hold” and a consensus target price of $227.05.

Insider Transactions at Travelers Companies

In related news, EVP Michael Frederick Klein sold 10,000 shares of the firm’s stock in a transaction on Thursday, July 25th. The stock was sold at an average price of $211.44, for a total value of $2,114,400.00. Following the transaction, the executive vice president now directly owns 22,798 shares of the company’s stock, valued at approximately $4,820,409.12. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Corporate insiders own 1.33% of the company’s stock.

Travelers Companies Stock Up 0.3 %

Travelers Companies stock opened at $239.35 on Tuesday. The Travelers Companies, Inc. has a one year low of $157.33 and a one year high of $243.48. The stock has a fifty day moving average of $221.94 and a 200 day moving average of $217.67. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.33 and a current ratio of 0.33. The stock has a market cap of $54.81 billion, a PE ratio of 17.78, a price-to-earnings-growth ratio of 1.26 and a beta of 0.62.

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

Travelers Companies Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Tuesday, September 10th will be given a $1.05 dividend. The ex-dividend date of this dividend is Tuesday, September 10th. This represents a $4.20 annualized dividend and a yield of 1.75%. Travelers Companies’s payout ratio is presently 31.20%.

Travelers Companies Company 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.