Sawgrass Asset Management LLC Decreases Holdings in The Travelers Companies, Inc. (NYSE:TRV)

Sawgrass Asset Management LLC cut its holdings in shares of The Travelers Companies, Inc. (NYSE:TRV) by 8.1% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,782 shares of the insurance provider’s stock after selling 158 shares during the quarter. Sawgrass Asset Management LLC’s holdings in Travelers Companies were worth $417,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in the business. Cetera Investment Advisers increased its stake in shares of Travelers Companies by 356.3% in the first 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 period. GAMMA Investing LLC increased its stake in shares of Travelers Companies by 162.6% in the second 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 period. Manning & Napier Advisors LLC purchased a new position in shares of Travelers Companies in the second quarter worth $17,303,000. Cetera Advisors LLC increased its stake in shares of Travelers Companies by 75.3% in the first quarter. Cetera Advisors LLC now owns 10,996 shares of the insurance provider’s stock worth $2,531,000 after buying an additional 4,724 shares during the period. Finally, Swedbank AB purchased a new position in shares of Travelers Companies in the first quarter worth $26,618,000. 82.45% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Travelers Companies news, EVP Andy F. Bessette sold 4,520 shares of the business’s stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $253.46, for a total value of $1,145,639.20. Following the completion of the transaction, the executive vice president now owns 16,976 shares of the company’s stock, valued at approximately $4,302,736.96. The trade was a 21.03 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Diane Kurtzman sold 3,941 shares of the business’s stock in a transaction dated Monday, October 21st. The stock was sold at an average price of $260.45, for a total value 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 approximately $446,671.75. This trade represents a 69.68 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 63,999 shares of company stock worth $16,580,166 in the last quarter. Corporate insiders own 1.33% of the company’s stock.

Travelers Companies Stock Performance

Shares of Travelers Companies stock opened at $260.82 on Friday. The stock has a market cap of $59.21 billion, a price-to-earnings ratio of 13.38, a PEG ratio of 1.25 and a beta of 0.62. The firm’s 50-day moving average is $244.44 and its 200 day moving average is $224.40. The Travelers Companies, Inc. has a 1 year low of $169.18 and a 1 year high of $269.55. The company has a debt-to-equity ratio of 0.29, a current ratio of 0.34 and a quick ratio of 0.34.

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, topping analysts’ consensus estimates of $3.79 by $1.45. The company had revenue of $11.90 billion for the quarter, compared to analysts’ expectations of $11.46 billion. Travelers Companies had a net margin of 10.02% and a return on equity of 17.69%. Travelers Companies’s revenue was up 11.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.95 EPS. Sell-side analysts anticipate that The Travelers Companies, Inc. will post 18.64 EPS for the current fiscal 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 paid a $1.05 dividend. This represents a $4.20 dividend on an annualized basis and a yield of 1.61%. The ex-dividend date of this dividend is Tuesday, December 10th. Travelers Companies’s payout ratio is 21.54%.

Wall Street Analyst Weigh In

Several research analysts recently commented on TRV shares. Keefe, Bruyette & Woods lifted their target price on shares of Travelers Companies from $245.00 to $273.00 and gave the stock a “market perform” rating in a research note on Tuesday, October 22nd. Bank of America lifted their target price on shares of Travelers Companies from $241.00 to $265.00 and gave the stock an “underperform” rating in a research note on Thursday, October 17th. Barclays lifted their target price on shares of Travelers Companies from $286.00 to $295.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 23rd. Piper Sandler cut their price target on shares of Travelers Companies from $213.00 to $207.00 and set a “neutral” rating on the stock in a report on Monday, July 22nd. Finally, Royal Bank of Canada lifted their price target on shares of Travelers Companies from $250.00 to $273.00 and gave the company a “sector perform” rating in a report on Friday, October 18th. Four research analysts have rated the stock with a sell rating, thirteen have given a hold rating, six have given a buy rating and one has assigned 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.

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.