Connor Clark & Lunn Investment Management Ltd. Cuts Stock Position in The Travelers Companies, Inc. (NYSE:TRV)

Connor Clark & Lunn Investment Management Ltd. reduced its position in shares of The Travelers Companies, Inc. (NYSE:TRV - Free Report) by 84.3% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,203 shares of the insurance provider's stock after selling 22,649 shares during the period. Connor Clark & Lunn Investment Management Ltd.'s holdings in Travelers Companies were worth $984,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Dimensional Fund Advisors LP boosted its holdings in shares of Travelers Companies by 5.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,044,839 shares of the insurance provider's stock valued at $619,241,000 after buying an additional 165,708 shares in the last quarter. Legal & General Group Plc grew its holdings in Travelers Companies by 1.6% in the second quarter. Legal & General Group Plc now owns 2,334,882 shares of the insurance provider's stock worth $474,774,000 after purchasing an additional 37,029 shares during the period. Boston Partners increased its stake in shares of Travelers Companies by 16.4% during the first quarter. Boston Partners now owns 1,388,019 shares of the insurance provider's stock valued at $319,348,000 after purchasing an additional 196,011 shares in the last quarter. AQR Capital Management LLC boosted its position in shares of Travelers Companies by 8.0% in the 2nd quarter. AQR Capital Management LLC now owns 1,150,213 shares of the insurance provider's stock worth $233,769,000 after purchasing an additional 85,619 shares in the last quarter. Finally, Hsbc Holdings PLC grew its stake in shares of Travelers Companies by 1.3% in the 2nd quarter. Hsbc Holdings PLC now owns 1,112,547 shares of the insurance provider's stock worth $226,307,000 after buying an additional 14,764 shares during the last quarter. 82.45% of the stock is owned by institutional investors.

Insider Buying and Selling at Travelers Companies

In related news, CEO Alan D. Schnitzer sold 40,524 shares of the company's stock in a transaction dated Monday, October 21st. The shares were 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 directly owns 221,924 shares in the company, valued at approximately $57,726,870.88. This represents a 15.44 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Vice Chairman William H. Heyman sold 3,740 shares of the firm's stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $264.80, for a total transaction of $990,352.00. Following the completion of the sale, the insider now directly owns 250,384 shares of the company's stock, valued at approximately $66,301,683.20. The trade was a 1.47 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 78,149 shares of company stock worth $20,295,856 in the last quarter. 1.33% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on TRV shares. The Goldman Sachs Group increased their target price on Travelers Companies from $216.00 to $245.00 and gave the stock a "sell" rating in a research note on Tuesday, October 22nd. BMO Capital Markets lifted their target price on shares of Travelers Companies from $233.00 to $270.00 and gave the stock an "outperform" rating in a report on Tuesday, October 22nd. Keefe, Bruyette & Woods increased their price target on shares of Travelers Companies from $245.00 to $273.00 and gave the company a "market perform" rating in a report on Tuesday, October 22nd. Deutsche Bank Aktiengesellschaft upped 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. Finally, Janney Montgomery Scott downgraded Travelers Companies from a "buy" rating to a "neutral" rating and set a $280.00 target price on the stock. in a research note on Thursday, November 21st. Four equities research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $251.15.

Travelers Companies Price Performance

NYSE:TRV traded up $2.89 on Thursday, reaching $266.66. 1,266,237 shares of the company's stock traded hands, compared to its average volume of 1,306,734. The stock has a 50-day simple moving average of $248.18 and a 200-day simple moving average of $226.96. The Travelers Companies, Inc. has a 12 month low of $175.88 and a 12 month high of $269.55. The firm has a market cap of $60.54 billion, a PE ratio of 13.67, 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.

Travelers Companies (NYSE:TRV - Get Free Report) last issued 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. Travelers Companies had a return on equity of 17.69% and a net margin of 10.02%. The company had revenue of $11.90 billion for the quarter, compared to the consensus estimate of $11.46 billion. During the same quarter last year, the company earned $1.95 EPS. The firm's quarterly revenue was up 11.9% on a year-over-year basis. Equities research analysts forecast that The Travelers Companies, Inc. will post 18.83 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 dividend of $1.05 per share. This represents a $4.20 dividend on an annualized basis and a yield of 1.58%. The ex-dividend date is Tuesday, December 10th. Travelers Companies's payout ratio is presently 21.54%.

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.