Oppenheimer & Co. Inc. Cuts Stock Position in The Travelers Companies, Inc. (NYSE:TRV)

Oppenheimer & Co. Inc. lowered its position in The Travelers Companies, Inc. (NYSE:TRV) by 9.1% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 9,271 shares of the insurance provider’s stock after selling 930 shares during the period. Oppenheimer & Co. Inc.’s holdings in Travelers Companies were worth $1,885,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Nordea Investment Management AB grew its position in shares of Travelers Companies by 38.7% in the 1st quarter. Nordea Investment Management AB now owns 342,288 shares of the insurance provider’s stock worth $78,689,000 after buying an additional 95,451 shares during the last quarter. Focus Financial Network Inc. ADV purchased a new stake in Travelers Companies during the 4th quarter worth approximately $1,973,000. Cetera Investment Advisers grew its position in Travelers Companies by 356.3% during the 1st quarter. Cetera Investment Advisers now owns 45,541 shares of the insurance provider’s stock worth $10,481,000 after purchasing an additional 35,560 shares during the last quarter. Wellington Management Group LLP grew its position in Travelers Companies by 100.9% during the 4th quarter. Wellington Management Group LLP now owns 50,910 shares of the insurance provider’s stock worth $9,698,000 after purchasing an additional 25,575 shares during the last quarter. Finally, Bank of Nova Scotia grew its position in Travelers Companies by 552.8% during the 4th quarter. Bank of Nova Scotia now owns 166,059 shares of the insurance provider’s stock worth $31,631,000 after purchasing an additional 140,622 shares during the last quarter. Hedge funds and other institutional investors own 82.45% of the company’s stock.

Insiders Place Their Bets

In other Travelers Companies news, EVP Michael Frederick Klein sold 10,000 shares of the company’s stock in a transaction on 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 completion of the transaction, the executive vice president now directly owns 22,798 shares in the company, valued at $4,820,409.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.33% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

TRV has been the topic of several research analyst reports. William Blair reissued a “market perform” rating on shares of Travelers Companies in a research report on Friday, June 28th. StockNews.com downgraded shares of Travelers Companies from a “buy” rating to a “hold” rating in a research report on Thursday, September 12th. Citigroup boosted their target price on shares of Travelers Companies from $200.00 to $203.00 and gave the stock a “sell” rating in a research report on Tuesday, July 30th. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Travelers Companies from $221.00 to $234.00 and gave the company a “hold” rating in a research note on Wednesday, August 7th. Finally, TD Cowen cut shares of Travelers Companies from a “buy” rating to a “hold” rating and decreased their price objective for the company from $252.00 to $230.00 in a research note on Monday, July 15th. Four equities research analysts have rated the stock with a sell rating, fourteen have issued a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $227.05.

Travelers Companies Stock Performance

NYSE:TRV opened at $242.45 on Tuesday. 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 company has a fifty day moving average of $218.89 and a two-hundred day moving average of $216.97. The stock has a market capitalization of $55.26 billion, a PE ratio of 18.01, a P/E/G ratio of 1.22 and a beta of 0.62. The Travelers Companies, Inc. has a fifty-two week low of $157.33 and a fifty-two week high of $242.89.

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

Travelers Companies Dividend Announcement

The business 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. This represents a $4.20 dividend on an annualized basis and a yield of 1.73%. The ex-dividend date is Tuesday, September 10th. Travelers Companies’s dividend payout ratio is presently 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.