Travelers Companies Inc (TRV) Stake Lowered by CIBC World Markets Inc.

CIBC World Markets Inc. lessened its holdings in Travelers Companies Inc (NYSE:TRV) by 93.7% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 7,178 shares of the insurance provider’s stock after selling 106,416 shares during the quarter. CIBC World Markets Inc.’s holdings in Travelers Companies were worth $997,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the company. Fulcrum Capital LLC boosted its position in shares of Travelers Companies by 1.2% in the first quarter. Fulcrum Capital LLC now owns 32,885 shares of the insurance provider’s stock worth $4,566,000 after buying an additional 388 shares during the period. Impax Asset Management LLC boosted its position in shares of Travelers Companies by 15.2% in the first quarter. Impax Asset Management LLC now owns 3,041 shares of the insurance provider’s stock worth $422,000 after buying an additional 401 shares during the period. Thrivent Financial for Lutherans boosted its position in shares of Travelers Companies by 3.6% in the first quarter. Thrivent Financial for Lutherans now owns 11,837 shares of the insurance provider’s stock worth $1,644,000 after buying an additional 406 shares during the period. Signaturefd LLC boosted its position in shares of Travelers Companies by 18.2% in the fourth quarter. Signaturefd LLC now owns 2,870 shares of the insurance provider’s stock worth $389,000 after buying an additional 442 shares during the period. Finally, Coldstream Capital Management Inc. boosted its position in shares of Travelers Companies by 2.5% in the first quarter. Coldstream Capital Management Inc. now owns 18,521 shares of the insurance provider’s stock worth $2,572,000 after buying an additional 447 shares during the period. 78.66% of the stock is owned by institutional investors and hedge funds.

NYSE TRV opened at $122.34 on Friday. Travelers Companies Inc has a fifty-two week low of $113.76 and a fifty-two week high of $150.55. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.39 and a current ratio of 0.39. The stock has a market cap of $33.09 billion, a price-to-earnings ratio of 16.80, a P/E/G ratio of 0.92 and a beta of 1.26.

Travelers Companies (NYSE:TRV) last posted its earnings results on Tuesday, April 24th. The insurance provider reported $2.46 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $2.68 by ($0.22). Travelers Companies had a net margin of 7.21% and a return on equity of 8.94%. The company had revenue of $7.30 billion for the quarter, compared to the consensus estimate of $7.24 billion. analysts anticipate that Travelers Companies Inc will post 10.46 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Friday, June 29th. Shareholders of record on Friday, June 8th were issued a dividend of $0.77 per share. This is a positive change from Travelers Companies’s previous quarterly dividend of $0.72. This represents a $3.08 annualized dividend and a yield of 2.52%. The ex-dividend date was Thursday, June 7th. Travelers Companies’s dividend payout ratio (DPR) is 42.31%.

Several analysts have recently commented on the company. Zacks Investment Research raised Travelers Companies from a “hold” rating to a “buy” rating and set a $154.00 price objective for the company in a research report on Thursday, April 12th. Citigroup lifted their price objective on Travelers Companies from $156.00 to $159.00 and gave the company a “buy” rating in a research report on Tuesday, March 27th. Morgan Stanley reduced their price objective on Travelers Companies from $130.00 to $126.00 and set an “underweight” rating for the company in a research report on Wednesday, April 25th. ValuEngine cut Travelers Companies from a “hold” rating to a “sell” rating in a research report on Monday, June 18th. Finally, Argus reduced their price objective on Travelers Companies from $163.00 to $158.00 and set a “buy” rating for the company in a research report on Thursday, April 26th. Four research analysts have rated the stock with a sell rating, seven have issued a hold rating and eight have given a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $140.05.

In other Travelers Companies news, Vice Chairman Jay S. Benet sold 4,437 shares of the firm’s stock in a transaction dated Wednesday, April 11th. The stock was sold at an average price of $136.02, for a total transaction of $603,520.74. Following the transaction, the insider now directly owns 89,737 shares in the company, valued at $12,206,026.74. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Vice Chairman Jay S. Benet sold 6,854 shares of the firm’s stock in a transaction dated Tuesday, May 22nd. The shares were sold at an average price of $132.00, for a total value of $904,728.00. Following the transaction, the insider now owns 92,154 shares in the company, valued at $12,164,328. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 22,185 shares of company stock worth $2,959,189. Corporate insiders own 0.80% of the company’s stock.

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.

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Institutional Ownership by Quarter for Travelers Companies (NYSE:TRV)

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