Hudson Bay Capital Management LP Sells 34,684 Shares of The Travelers Companies, Inc. $TRV

Hudson Bay Capital Management LP decreased its holdings in The Travelers Companies, Inc. (NYSE:TRV) by 52.4% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 31,554 shares of the insurance provider’s stock after selling 34,684 shares during the period. Hudson Bay Capital Management LP’s holdings in Travelers Companies were worth $8,811,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Associated Banc Corp grew its holdings in shares of Travelers Companies by 1.4% in the second quarter. Associated Banc Corp now owns 2,734 shares of the insurance provider’s stock worth $731,000 after purchasing an additional 39 shares during the last quarter. Fifth Third Wealth Advisors LLC lifted its holdings in Travelers Companies by 1.0% during the 3rd quarter. Fifth Third Wealth Advisors LLC now owns 4,093 shares of the insurance provider’s stock valued at $1,143,000 after buying an additional 40 shares in the last quarter. Ibex Wealth Advisors lifted its holdings in Travelers Companies by 1.4% during the 3rd quarter. Ibex Wealth Advisors now owns 2,889 shares of the insurance provider’s stock valued at $807,000 after buying an additional 40 shares in the last quarter. Nilsine Partners LLC boosted its position in Travelers Companies by 0.4% in the 3rd quarter. Nilsine Partners LLC now owns 9,737 shares of the insurance provider’s stock valued at $2,719,000 after buying an additional 41 shares during the period. Finally, Valeo Financial Advisors LLC boosted its position in Travelers Companies by 0.8% in the 2nd quarter. Valeo Financial Advisors LLC now owns 5,109 shares of the insurance provider’s stock valued at $1,367,000 after buying an additional 41 shares during the period. 82.45% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. Jefferies Financial Group raised shares of Travelers Companies to a “hold” rating in a research report on Tuesday, January 6th. Keefe, Bruyette & Woods increased their price objective on Travelers Companies from $320.00 to $340.00 and gave the stock an “outperform” rating in a research note on Thursday, February 19th. Mizuho reduced their price objective on Travelers Companies from $315.00 to $304.00 and set a “neutral” rating on the stock in a report on Thursday, January 22nd. Brean Capital initiated coverage on Travelers Companies in a research report on Thursday, March 12th. They set a “neutral” rating for the company. Finally, The Goldman Sachs Group downgraded Travelers Companies from a “buy” rating to a “neutral” rating and set a $304.00 price target on the stock. in a research report on Wednesday, January 7th. Two research analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating, eleven have issued a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $304.33.

Travelers Companies Trading Down 0.9%

NYSE TRV opened at $296.55 on Friday. The Travelers Companies, Inc. has a 52 week low of $230.43 and a 52 week high of $313.12. The company has a 50 day moving average price of $293.36 and a 200 day moving average price of $285.10. The company has a quick ratio of 0.33, a current ratio of 0.33 and a debt-to-equity ratio of 0.28. The firm has a market cap of $64.13 billion, a PE ratio of 10.77, a price-to-earnings-growth ratio of 2.78 and a beta of 0.49.

Travelers Companies (NYSE:TRV) last announced its earnings results on Wednesday, January 21st. The insurance provider reported $11.13 earnings per share for the quarter, beating the consensus estimate of $8.34 by $2.79. Travelers Companies had a net margin of 12.88% and a return on equity of 20.70%. The company had revenue of $12.43 billion during the quarter, compared to the consensus estimate of $11.13 billion. During the same period last year, the firm earned $9.15 earnings per share. Travelers Companies’s revenue was up 3.5% compared to the same quarter last year. As a group, sell-side analysts forecast that The Travelers Companies, Inc. will post 17.02 EPS for the current fiscal year.

Travelers Companies Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Tuesday, March 10th will be given a $1.10 dividend. The ex-dividend date of this dividend is Tuesday, March 10th. This represents a $4.40 dividend on an annualized basis and a dividend yield of 1.5%. Travelers Companies’s dividend payout ratio (DPR) is presently 15.98%.

Travelers Companies announced that its board has approved a share repurchase program on Wednesday, January 21st that authorizes the company to repurchase $5.00 billion in shares. This repurchase authorization authorizes the insurance provider to repurchase up to 8.3% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s leadership believes its shares are undervalued.

Insiders Place Their Bets

In related news, EVP Michael Frederick Klein sold 10,000 shares of the business’s stock in a transaction on Friday, February 6th. The stock was sold at an average price of $301.18, for a total transaction of $3,011,800.00. Following the transaction, the executive vice president directly owned 33,638 shares in the company, valued at $10,131,092.84. The trade was a 22.92% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Alan D. Schnitzer sold 55,733 shares of the company’s stock in a transaction dated Wednesday, February 4th. The shares were sold at an average price of $294.70, for a total value of $16,424,515.10. Following the transaction, the chief executive officer directly owned 260,329 shares in the company, valued at $76,718,956.30. This represents a 17.63% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 92,845 shares of company stock valued at $27,239,631 in the last 90 days. Corporate insiders own 1.46% of the company’s stock.

Travelers Companies Company Profile

The Travelers Companies, Inc (NYSE: TRV) is a leading provider of property and casualty insurance products and services. The company underwrites a broad range of commercial and personal insurance lines, offering coverage designed to protect individuals, small and midsize businesses, and large corporate clients against property loss, liability, and other operational risks. Travelers is known for combining underwriting, claims management and risk control services to help clients prevent losses and recover when incidents occur.

On the commercial side, Travelers writes primary and specialty coverages including property, general liability, commercial auto, workers’ compensation, professional and management liability, surety and inland marine.