Thompson Rubinstein Investment Management Inc. OR cut its stake in The Travelers Companies, Inc. (NYSE:TRV) by 19.0% during the second quarter, Holdings Channel reports. The firm owned 4,479 shares of the insurance provider’s stock after selling 1,050 shares during the period. Thompson Rubinstein Investment Management Inc. OR’s holdings in The Travelers Companies were worth $567,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Westside Investment Management Inc. raised its position in The Travelers Companies by 361.1% in the first quarter. Westside Investment Management Inc. now owns 876 shares of the insurance provider’s stock valued at $106,000 after buying an additional 686 shares during the period. First Personal Financial Services raised its position in shares of The Travelers Companies by 133.3% in the first quarter. First Personal Financial Services now owns 889 shares of the insurance provider’s stock worth $107,000 after buying an additional 508 shares during the period. Bartlett & Co. LLC raised its position in shares of The Travelers Companies by 30.0% in the first quarter. Bartlett & Co. LLC now owns 1,399 shares of the insurance provider’s stock worth $169,000 after buying an additional 323 shares during the period. Balentine LLC raised its position in shares of The Travelers Companies by 2.0% in the first quarter. Balentine LLC now owns 1,404 shares of the insurance provider’s stock worth $169,000 after buying an additional 27 shares during the period. Finally, Community Bank N.A. raised its position in shares of The Travelers Companies by 39.0% in the first quarter. Community Bank N.A. now owns 1,425 shares of the insurance provider’s stock worth $172,000 after buying an additional 400 shares during the period. Institutional investors and hedge funds own 78.95% of the company’s stock.

Shares of The Travelers Companies, Inc. (TRV) traded up 0.85% during mid-day trading on Wednesday, hitting $129.64. 499,418 shares of the company were exchanged. The Travelers Companies, Inc. has a 12-month low of $103.45 and a 12-month high of $130.00. The firm has a market capitalization of $35.77 billion, a P/E ratio of 12.91 and a beta of 1.20. The company’s 50-day moving average price is $127.07 and its 200-day moving average price is $122.73.

The Travelers Companies (NYSE:TRV) last issued its quarterly earnings data on Thursday, July 20th. The insurance provider reported $1.92 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $2.07 by $0.15. The company had revenue of $6.35 billion during the quarter, compared to the consensus estimate of $6.31 billion. The Travelers Companies had a net margin of 10.15% and a return on equity of 11.68%. The Travelers Companies’s revenue for the quarter was up 4.7% on a year-over-year basis. During the same period in the previous year, the company earned $2.20 EPS. Equities research analysts predict that The Travelers Companies, Inc. will post $8.92 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Friday, September 8th will be paid a $0.72 dividend. This represents a $2.88 annualized dividend and a yield of 2.24%. The ex-dividend date of this dividend is Thursday, September 7th. The Travelers Companies’s payout ratio is 28.77%.

The Travelers Companies declared that its board has initiated a stock buyback plan on Thursday, April 20th that allows the company to buyback $5.00 billion in shares. This buyback authorization allows the insurance provider to reacquire shares of its stock through open market purchases. Shares buyback plans are typically a sign that the company’s board believes its shares are undervalued.

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TRV has been the subject of a number of recent analyst reports. MKM Partners reissued a “neutral” rating and issued a $130.00 price objective (up from $115.00) on shares of The Travelers Companies in a report on Wednesday, July 26th. Argus upgraded The Travelers Companies from a “hold” rating to a “buy” rating and set a $132.00 price objective for the company in a research report on Monday, April 24th. Royal Bank Of Canada reiterated a “buy” rating and set a $126.00 price objective on shares of The Travelers Companies in a research report on Monday, May 22nd. Citigroup Inc. reiterated a “buy” rating and set a $148.00 price objective (down previously from $150.00) on shares of The Travelers Companies in a research report on Monday, July 24th. Finally, Keefe, Bruyette & Woods reiterated a “hold” rating and set a $115.00 price objective on shares of The Travelers Companies in a research report on Thursday, May 25th. Five equities research analysts have rated the stock with a sell rating, seven have given a hold rating and six have given a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $123.79.

In related news, SVP Douglas K. Russell sold 9,686 shares of the stock in a transaction that occurred on Thursday, May 25th. The shares were sold at an average price of $123.00, for a total value of $1,191,378.00. Following the completion of the transaction, the senior vice president now owns 29,267 shares of the company’s stock, valued at approximately $3,599,841. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Maria Olivo sold 8,186 shares of the stock in a transaction that occurred on Wednesday, May 31st. The shares were sold at an average price of $124.84, for a total transaction of $1,021,940.24. Following the completion of the transaction, the executive vice president now directly owns 88,697 shares of the company’s stock, valued at approximately $11,072,933.48. The disclosure for this sale can be found here. In the last three months, insiders sold 169,412 shares of company stock valued at $21,473,565. 0.82% of the stock is owned by insiders.

About The Travelers Companies

The Travelers Companies, Inc is a holding company. The Company’s segments include Business and International Insurance; Bond & Specialty Insurance, and Personal Insurance. Through its subsidiaries, it provides commercial and personal property and casualty insurance products and services. The Business and International Insurance segment offers property and casualty insurance and insurance related services to its clients, in the United States and in Canada, as well as in the United Kingdom, the Republic of Ireland, Brazil and throughout other parts of the world.

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

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