MAI Capital Management Trims Stock Holdings in The Travelers Companies, Inc. (NYSE:TRV)

MAI Capital Management cut its holdings in shares of The Travelers Companies, Inc. (NYSE:TRV - Free Report) by 22.3% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 12,956 shares of the insurance provider's stock after selling 3,729 shares during the quarter. MAI Capital Management's holdings in Travelers Companies were worth $3,033,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Cetera Investment Advisers increased its position in shares of Travelers Companies by 356.3% during the 1st quarter. Cetera Investment Advisers now owns 45,541 shares of the insurance provider's stock valued at $10,481,000 after purchasing an additional 35,560 shares during the last quarter. GAMMA Investing LLC increased its holdings in Travelers Companies by 162.6% in the 2nd quarter. GAMMA Investing LLC now owns 4,926 shares of the insurance provider's stock worth $1,002,000 after acquiring an additional 3,050 shares during the last quarter. Manning & Napier Advisors LLC purchased a new stake in Travelers Companies in the 2nd quarter worth about $17,303,000. Cetera Advisors LLC increased its holdings in Travelers Companies by 75.3% in the 1st quarter. Cetera Advisors LLC now owns 10,996 shares of the insurance provider's stock worth $2,531,000 after acquiring an additional 4,724 shares during the last quarter. Finally, Swedbank AB purchased a new stake in Travelers Companies in the 1st quarter worth about $26,618,000. 82.45% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Travelers Companies news, CEO Alan D. Schnitzer sold 40,524 shares of the business's stock in a transaction 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 sale, the chief executive officer now directly owns 221,924 shares of the company's stock, valued at approximately $57,726,870.88. The trade was a 15.44 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Michael Frederick Klein sold 10,000 shares of the company's stock in a transaction on Wednesday, October 23rd. The shares were sold at an average price of $256.17, for a total value of $2,561,700.00. Following the transaction, the executive vice president now directly owns 22,798 shares in the company, valued at approximately $5,840,163.66. The trade was a 30.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 74,409 shares of company stock valued at $19,305,504 over the last ninety days. Company insiders own 1.33% of the company's stock.

Travelers Companies Trading Down 0.8 %

Travelers Companies stock traded down $2.08 during trading hours on Wednesday, reaching $257.19. The company had a trading volume of 1,190,159 shares, compared to its average volume of 1,301,596. The company has a debt-to-equity ratio of 0.29, a current ratio of 0.34 and a quick ratio of 0.34. The Travelers Companies, Inc. has a 12-month low of $172.38 and a 12-month high of $269.55. The firm has a market cap of $58.39 billion, a price-to-earnings ratio of 13.30, a P/E/G ratio of 1.25 and a beta of 0.62. The company has a 50-day moving average price of $245.28 and a 200 day moving average price of $225.14.

Travelers Companies (NYSE:TRV - Get Free Report) last posted its earnings results on Thursday, October 17th. The insurance provider reported $5.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.79 by $1.45. The firm had revenue of $11.90 billion for the quarter, compared to analysts' expectations of $11.46 billion. Travelers Companies had a return on equity of 17.69% and a net margin of 10.02%. The business's revenue was up 11.9% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.95 earnings per share. Equities analysts forecast that The Travelers Companies, Inc. will post 18.64 earnings per share for the current year.

Travelers Companies Announces Dividend

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

Analysts Set New Price Targets

A number of research analysts have weighed in on TRV shares. Jefferies Financial Group lifted their target price on Travelers Companies from $210.00 to $235.00 and gave the company a "hold" rating in a report on Wednesday, October 9th. Roth Mkm lifted their target price on Travelers Companies from $240.00 to $300.00 and gave the company a "buy" rating in a report on Monday, October 21st. Citigroup lifted their target price on Travelers Companies from $200.00 to $203.00 and gave the company a "sell" rating in a report on Tuesday, July 30th. Deutsche Bank Aktiengesellschaft lifted their price target on Travelers Companies from $221.00 to $234.00 and gave the company a "hold" rating in a research report on Wednesday, August 7th. Finally, The Goldman Sachs Group lifted their price target on Travelers Companies from $216.00 to $245.00 and gave the company a "sell" rating in a research report on Tuesday, October 22nd. Four investment analysts have rated the stock with a sell rating, fourteen have issued a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Travelers Companies has an average rating of "Hold" and an average price target of $247.90.

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.