Orion Porfolio Solutions LLC Cuts Position in The Travelers Companies, Inc. $TRV

Orion Porfolio Solutions LLC decreased its position in The Travelers Companies, Inc. (NYSE:TRV) by 16.4% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 14,947 shares of the insurance provider’s stock after selling 2,941 shares during the quarter. Orion Porfolio Solutions LLC’s holdings in Travelers Companies were worth $4,174,000 at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in the company. Norges Bank purchased a new stake in shares of Travelers Companies in the 2nd quarter valued at approximately $815,013,000. JPMorgan Chase & Co. lifted its position in shares of Travelers Companies by 10.9% during the 2nd quarter. JPMorgan Chase & Co. now owns 7,626,750 shares of the insurance provider’s stock worth $2,040,475,000 after purchasing an additional 751,715 shares during the last quarter. AustralianSuper Pty Ltd acquired a new position in shares of Travelers Companies during the third quarter worth $125,597,000. Rakuten Investment Management Inc. acquired a new position in shares of Travelers Companies during the third quarter worth $112,051,000. Finally, Nordea Investment Management AB increased its holdings in Travelers Companies by 1,641.3% in the third quarter. Nordea Investment Management AB now owns 379,480 shares of the insurance provider’s stock valued at $105,537,000 after buying an additional 357,687 shares during the last quarter. Hedge funds and other institutional investors own 82.45% of the company’s stock.

Travelers Companies Stock Performance

NYSE TRV opened at $306.43 on Monday. The company has a fifty day moving average of $290.84 and a two-hundred day moving average of $283.44. The company has a market capitalization of $66.26 billion, a PE ratio of 11.13, a P/E/G ratio of 2.86 and a beta of 0.49. The Travelers Companies, Inc. has a 1 year low of $230.43 and a 1 year high of $313.12. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.33 and a quick ratio of 0.33.

Travelers Companies (NYSE:TRV) last posted its earnings results on Wednesday, January 21st. The insurance provider reported $11.13 EPS for the quarter, topping analysts’ consensus estimates of $8.34 by $2.79. Travelers Companies had a return on equity of 20.70% and a net margin of 12.88%.The business had revenue of $12.43 billion for the quarter, compared to analysts’ expectations of $11.13 billion. During the same quarter in the previous year, the firm earned $9.15 earnings per share. The business’s revenue was up 3.5% compared to the same quarter last year. As a group, analysts expect that The Travelers Companies, Inc. will post 17.02 earnings per share for the current year.

Travelers Companies Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Tuesday, March 10th will be given a dividend of $1.10 per share. The ex-dividend date of this dividend is Tuesday, March 10th. This represents a $4.40 annualized dividend and a yield of 1.4%. Travelers Companies’s payout ratio is 15.98%.

Travelers Companies declared that its Board of Directors has initiated a stock buyback program on Wednesday, January 21st that allows the company to buyback $5.00 billion in outstanding shares. This buyback authorization allows the insurance provider to repurchase up to 8.3% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s board believes its stock is undervalued.

Analysts Set New Price Targets

A number of research firms have weighed in on TRV. Weiss Ratings upgraded Travelers Companies from a “buy (b+)” rating to a “buy (a-)” rating in a research note on Monday, February 9th. Morgan Stanley increased their price objective on Travelers Companies from $285.00 to $295.00 and gave the company an “equal weight” rating in a report on Monday, November 17th. Citigroup reissued a “neutral” rating on shares of Travelers Companies in a research report on Tuesday, January 27th. Mizuho decreased their target price on Travelers Companies from $315.00 to $304.00 and set a “neutral” rating for the company in a research note on Thursday, January 22nd. Finally, Cantor Fitzgerald upped their price target on Travelers Companies from $316.00 to $319.00 and gave the company an “overweight” rating in a report on Monday, February 2nd. Two equities research analysts have rated the stock with a Strong Buy rating, five have given a Buy rating, ten have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $304.33.

Insider Transactions at Travelers Companies

In other news, EVP Michael Frederick Klein sold 10,000 shares of the firm’s stock in a transaction that occurred on Friday, February 6th. The shares were 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 approximately $10,131,092.84. This trade represents a 22.92% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Maria Olivo sold 10,400 shares of Travelers Companies stock in a transaction on Friday, February 6th. The shares were sold at an average price of $300.75, for a total transaction of $3,127,800.00. Following the completion of the transaction, the executive vice president directly owned 117,596 shares in the company, valued at $35,366,997. The trade was a 8.13% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 92,845 shares of company stock worth $27,239,631 in the last three months. 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.