Bridgewater Associates LP Cuts Stake in The Travelers Companies, Inc. (NYSE:TRV)

Bridgewater Associates LP decreased its stake in shares of The Travelers Companies, Inc. (NYSE:TRV) by 53.4% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 66,663 shares of the insurance provider’s stock after selling 76,438 shares during the quarter. Bridgewater Associates LP’s holdings in Travelers Companies were worth $15,607,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the stock. Ledyard National Bank raised its holdings in shares of Travelers Companies by 1.9% during the 3rd quarter. Ledyard National Bank now owns 2,067 shares of the insurance provider’s stock worth $484,000 after acquiring an additional 39 shares in the last quarter. Trueblood Wealth Management LLC raised its stake in Travelers Companies by 2.3% during the third quarter. Trueblood Wealth Management LLC now owns 1,807 shares of the insurance provider’s stock valued at $423,000 after purchasing an additional 41 shares in the last quarter. Cornell Pochily Investment Advisors Inc. lifted its position in Travelers Companies by 2.9% during the third quarter. Cornell Pochily Investment Advisors Inc. now owns 1,499 shares of the insurance provider’s stock valued at $351,000 after purchasing an additional 42 shares during the last quarter. Willner & Heller LLC raised its position in Travelers Companies by 4.1% during the third quarter. Willner & Heller LLC now owns 1,146 shares of the insurance provider’s stock valued at $268,000 after purchasing an additional 45 shares during the period. Finally, Wolff Wiese Magana LLC lifted its stake in shares of Travelers Companies by 39.1% in the 3rd quarter. Wolff Wiese Magana LLC now owns 160 shares of the insurance provider’s stock valued at $37,000 after purchasing an additional 45 shares during the last quarter. Hedge funds and other institutional investors own 82.45% of the company’s stock.

Insider Buying and Selling at Travelers Companies

In other news, EVP Diane Kurtzman sold 3,941 shares of the company’s stock in a transaction that occurred on Monday, October 21st. The stock was sold at an average price of $260.45, for a total transaction of $1,026,433.45. Following the completion of the transaction, the executive vice president now directly owns 1,715 shares of the company’s stock, valued at $446,671.75. This represents a 69.68 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Vice Chairman William H. Heyman sold 3,000 shares of the business’s stock in a transaction on Tuesday, October 22nd. The stock was sold at an average price of $260.55, for a total transaction of $781,650.00. Following the completion of the sale, the insider now directly owns 250,384 shares of the company’s stock, valued at approximately $65,237,551.20. The trade was a 1.18 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 78,149 shares of company stock valued at $20,295,856. Corporate insiders own 1.33% of the company’s stock.

Analyst Ratings Changes

TRV has been the topic of several recent research reports. Barclays increased their price target on Travelers Companies from $286.00 to $295.00 and gave the company an “overweight” rating in a report on Wednesday, October 23rd. UBS Group upped their target price on shares of Travelers Companies from $244.00 to $270.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 22nd. Wells Fargo & Company lifted their price target on shares of Travelers Companies from $207.00 to $256.00 and gave the company an “equal weight” rating in a research note on Monday, October 21st. Bank of America increased their price objective on Travelers Companies from $241.00 to $265.00 and gave the stock an “underperform” rating in a research note on Thursday, October 17th. Finally, Janney Montgomery Scott lowered shares of Travelers Companies from a “buy” rating to a “neutral” rating and set a $280.00 price objective on the stock. in a report on Thursday, November 21st. Four investment analysts have rated the stock with a sell rating, fifteen have given a hold rating, four have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $251.15.

Travelers Companies Stock Performance

Shares of TRV stock opened at $266.66 on Thursday. The stock has a market cap of $60.54 billion, a PE ratio of 13.67, a price-to-earnings-growth ratio of 1.24 and a beta of 0.62. The Travelers Companies, Inc. has a 52-week low of $175.88 and a 52-week high of $269.55. The business has a 50-day simple moving average of $248.18 and a 200-day simple moving average of $226.96. 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) last announced its quarterly earnings results on Thursday, October 17th. The insurance provider reported $5.24 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.79 by $1.45. The company had revenue of $11.90 billion during the quarter, compared to the consensus estimate of $11.46 billion. Travelers Companies had a return on equity of 17.69% and a net margin of 10.02%. Travelers Companies’s revenue for the quarter was up 11.9% on a year-over-year basis. During the same period in the previous year, the company posted $1.95 earnings per share. On average, equities analysts expect that The Travelers Companies, Inc. will post 18.83 EPS 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 given a dividend of $1.05 per share. The ex-dividend date of this dividend is Tuesday, December 10th. This represents a $4.20 annualized dividend and a yield of 1.58%. Travelers Companies’s dividend payout ratio is presently 21.54%.

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.