Clearbridge Investments LLC Trims Stake in The Travelers Companies, Inc. (NYSE:TRV)

Clearbridge Investments LLC cut its stake in The Travelers Companies, Inc. (NYSE:TRV) by 0.8% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 4,267,394 shares of the insurance provider’s stock after selling 36,529 shares during the period. Clearbridge Investments LLC’s holdings in Travelers Companies were worth $867,733,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Y.D. More Investments Ltd bought a new stake in Travelers Companies in the second quarter worth $25,000. Pathway Financial Advisers LLC bought a new stake in Travelers Companies in the first quarter worth $35,000. Beacon Capital Management LLC lifted its stake in Travelers Companies by 74.2% in the first quarter. Beacon Capital Management LLC now owns 155 shares of the insurance provider’s stock worth $36,000 after purchasing an additional 66 shares during the last quarter. Opal Wealth Advisors LLC bought a new stake in Travelers Companies in the first quarter worth $42,000. Finally, Tributary Capital Management LLC bought a new stake in Travelers Companies in the first quarter worth $45,000. 82.45% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the stock. TD Cowen downgraded shares of Travelers Companies from a “buy” rating to a “hold” rating and lowered their price objective for the company from $252.00 to $230.00 in a research note on Monday, July 15th. JPMorgan Chase & Co. upped their price objective on shares of Travelers Companies from $220.00 to $242.00 and gave the company an “underweight” rating in a research note on Thursday, July 11th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $225.00 price objective on shares of Travelers Companies in a research note on Monday, July 22nd. Piper Sandler lowered their price objective on shares of Travelers Companies from $213.00 to $207.00 and set a “neutral” rating for the company in a research note on Monday, July 22nd. Finally, Morgan Stanley lowered 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 equities research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Travelers Companies presently has an average rating of “Hold” and a consensus price target of $227.05.

Insider Activity

In other news, EVP Michael Frederick Klein sold 10,000 shares of the stock in a transaction that occurred 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 sale, the executive vice president now owns 22,798 shares in the company, valued at $4,820,409.12. The transaction was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 1.33% of the company’s stock.

Travelers Companies Price Performance

Shares of TRV opened at $234.12 on Tuesday. The stock has a market cap of $53.61 billion, a PE ratio of 17.39, a price-to-earnings-growth ratio of 1.24 and a beta of 0.62. 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 Travelers Companies, Inc. has a fifty-two week low of $157.33 and a fifty-two week high of $243.48. The firm’s 50-day simple moving average is $224.19 and its two-hundred day simple moving average is $218.22.

Travelers Companies (NYSE:TRV) last announced 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). Travelers Companies had a return on equity of 15.90% and a net margin of 8.37%. The business had revenue of $11.28 billion during the quarter, compared to analysts’ expectations of $11.35 billion. During the same quarter last year, the company posted $0.06 EPS. Travelers Companies’s revenue for the quarter was up 11.7% compared to the same quarter last year. Analysts anticipate that The Travelers Companies, Inc. will post 17.19 earnings per share for the current fiscal year.

Travelers Companies Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Tuesday, September 10th were issued a dividend of $1.05 per share. This represents a $4.20 dividend on an annualized basis and a dividend yield of 1.79%. The ex-dividend date was Tuesday, September 10th. Travelers Companies’s payout ratio is 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.