ING Groep NV reduced its position in shares of The Travelers Companies, Inc. (NYSE:TRV) by 18.6% during the second quarter, Holdings Channel reports. The fund owned 161,509 shares of the insurance provider’s stock after selling 36,872 shares during the period. ING Groep NV’s holdings in The Travelers Companies were worth $20,436,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. First National Bank of Omaha raised its position in The Travelers Companies by 4.9% in the first quarter. First National Bank of Omaha now owns 75,332 shares of the insurance provider’s stock valued at $9,080,000 after buying an additional 3,518 shares in the last quarter. Capstone Asset Management Co. raised its position in The Travelers Companies by 1.9% in the first quarter. Capstone Asset Management Co. now owns 38,294 shares of the insurance provider’s stock valued at $4,616,000 after buying an additional 708 shares in the last quarter. Marathon Asset Management LLP raised its position in The Travelers Companies by 14.6% in the first quarter. Marathon Asset Management LLP now owns 958,111 shares of the insurance provider’s stock valued at $115,489,000 after buying an additional 122,280 shares in the last quarter. TNB Financial bought a new position in The Travelers Companies during the first quarter valued at about $358,000. Finally, Atria Investments LLC raised its position in The Travelers Companies by 8.9% in the first quarter. Atria Investments LLC now owns 22,060 shares of the insurance provider’s stock valued at $2,659,000 after buying an additional 1,812 shares in the last quarter. Hedge funds and other institutional investors own 78.95% of the company’s stock.

The Travelers Companies, Inc. (TRV) traded down 1.16% during mid-day trading on Friday, hitting $128.18. The company had a trading volume of 1,535,138 shares. The company’s 50 day moving average price is $127.13 and its 200-day moving average price is $123.13. The Travelers Companies, Inc. has a 12-month low of $103.45 and a 12-month high of $130.36. The firm has a market capitalization of $35.37 billion, a PE ratio of 12.76 and a beta of 1.20.

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

The Travelers Companies declared that its Board of Directors has authorized a stock buyback plan on Thursday, April 20th that allows the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization allows the insurance provider to buy shares of its stock through open market purchases. Shares repurchase plans are often an indication that the company’s board believes its shares are undervalued.

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Friday, September 8th will be given a $0.72 dividend. The ex-dividend date of this dividend is Thursday, September 7th. This represents a $2.88 annualized dividend and a yield of 2.25%. The Travelers Companies’s payout ratio is 28.77%.

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Several research analysts have recently issued reports on TRV shares. Citigroup Inc. raised their price target on The Travelers Companies from $140.00 to $150.00 and gave the stock a “buy” rating in a research report on Thursday, July 13th. Argus upgraded The Travelers Companies from a “hold” rating to a “buy” rating and set a $132.00 target price on the stock in a report on Monday, April 24th. Vetr upgraded The Travelers Companies from a “hold” rating to a “buy” rating and set a $132.68 target price on the stock in a report on Tuesday, June 27th. Bank of America Corporation lowered The Travelers Companies from a “buy” rating to a “neutral” rating and lifted their target price for the stock from $120.62 to $129.44 in a report on Monday, June 19th. Finally, Morgan Stanley reiterated an “underweight” rating and set a $119.00 target price (up from $112.00) on shares of The Travelers Companies in a report on Friday, July 7th. Five research analysts have rated the stock with a sell rating, seven have given a hold rating and six have assigned a buy rating to the company. The Travelers Companies currently has an average rating of “Hold” and a consensus price target of $124.01.

In related news, EVP Maria Olivo sold 8,186 shares of the firm’s stock in a transaction dated Wednesday, May 31st. The shares were sold at an average price of $124.84, for a total value of $1,021,940.24. Following the transaction, the executive vice president now owns 88,697 shares of the company’s stock, valued at approximately $11,072,933.48. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, SVP Douglas K. Russell sold 9,686 shares of the firm’s stock in a transaction dated Thursday, May 25th. The shares were sold at an average price of $123.00, for a total transaction of $1,191,378.00. Following the completion of the transaction, the senior vice president now directly owns 29,267 shares in the company, valued at approximately $3,599,841. The disclosure for this sale can be found here. In the last ninety days, insiders sold 189,503 shares of company stock worth $24,085,032. 0.82% of the stock is owned by insiders.

The Travelers Companies Company Profile

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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