Highland Capital Management LLC Takes Position in The Travelers Companies, Inc. (NYSE:TRV)

Highland Capital Management LLC purchased a new stake in The Travelers Companies, Inc. (NYSE:TRV) in the third quarter, Holdings Channel reports. The firm purchased 915 shares of the insurance provider’s stock, valued at approximately $214,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Nordea Investment Management AB grew its stake in Travelers Companies by 38.7% during 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. Cetera Investment Advisers grew its stake 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 buying an additional 35,560 shares during the last quarter. GAMMA Investing LLC grew its stake in Travelers Companies by 162.6% during the 2nd quarter. GAMMA Investing LLC now owns 4,926 shares of the insurance provider’s stock worth $1,002,000 after buying an additional 3,050 shares during the last quarter. Cullinan Associates Inc. grew its stake in Travelers Companies by 159.8% during the 1st quarter. Cullinan Associates Inc. now owns 34,164 shares of the insurance provider’s stock worth $7,863,000 after buying an additional 21,014 shares during the last quarter. Finally, Manning & Napier Advisors LLC acquired a new position in Travelers Companies during the 2nd quarter worth $17,303,000. 82.45% of the stock is currently owned by institutional investors.

Insider Activity at Travelers Companies

In related news, Vice Chairman William H. Heyman sold 2,014 shares of the company’s stock in a transaction on Thursday, October 24th. The stock was sold at an average price of $260.00, for a total transaction of $523,640.00. Following the transaction, the insider now directly owns 250,384 shares of the company’s stock, valued at approximately $65,099,840. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CEO Alan D. Schnitzer sold 40,524 shares of the company’s stock in a transaction on Monday, October 21st. The stock was 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 of the company’s stock, valued at approximately $57,726,870.88. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Vice Chairman William H. Heyman sold 2,014 shares of the firm’s stock in a transaction dated Thursday, October 24th. The stock was sold at an average price of $260.00, for a total value of $523,640.00. Following the sale, the insider now directly owns 250,384 shares of the company’s stock, valued at $65,099,840. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 59,479 shares of company stock valued at $15,434,526. Company insiders own 1.33% of the company’s stock.

Travelers Companies Stock Down 2.3 %

Shares of Travelers Companies stock opened at $250.50 on Monday. The stock’s fifty day moving average is $236.19 and its 200-day moving average is $220.54. The firm has a market capitalization of $57.36 billion, a PE ratio of 18.61, a price-to-earnings-growth ratio of 1.28 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. The Travelers Companies, Inc. has a 12-month low of $159.89 and a 12-month high of $269.55.

Travelers Companies (NYSE:TRV) last posted its quarterly earnings results on Thursday, October 17th. The insurance provider reported $5.24 earnings per share 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 analyst estimates of $11.46 billion. Travelers Companies had a return on equity of 17.69% and a net margin of 10.02%. Travelers Companies’s quarterly revenue was up 11.9% on a year-over-year basis. During the same period in the previous year, the firm earned $1.95 earnings per share. Equities analysts anticipate that The Travelers Companies, Inc. will post 18.24 earnings per share for the current year.

Travelers Companies Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Tuesday, December 10th will be given a dividend of $1.05 per share. This represents a $4.20 annualized dividend and a yield of 1.68%. The ex-dividend date is Tuesday, December 10th. Travelers Companies’s payout ratio is 31.20%.

Analyst Ratings Changes

A number of research analysts have issued reports on TRV shares. Bank of America boosted their price target on Travelers Companies from $241.00 to $265.00 and gave the stock an “underperform” rating in a research report on Thursday, October 17th. Jefferies Financial Group boosted their price target on Travelers Companies from $210.00 to $235.00 and gave the stock a “hold” rating in a research report on Wednesday, October 9th. Citigroup boosted their price target on Travelers Companies from $200.00 to $203.00 and gave the stock a “sell” rating in a research report on Tuesday, July 30th. The Goldman Sachs Group boosted their price target on Travelers Companies from $216.00 to $245.00 and gave the stock a “sell” rating in a research report on Tuesday, October 22nd. Finally, TD Cowen lowered Travelers Companies from a “buy” rating to a “hold” rating and reduced their price target for the stock from $252.00 to $230.00 in a research report on Monday, July 15th. Four analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, five have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Travelers Companies has a consensus rating of “Hold” and a consensus target price of $247.90.

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.