Kimelman & Baird LLC Trims Holdings in The Travelers Companies, Inc. (NYSE:TRV)

Kimelman & Baird LLC cut its position in shares of The Travelers Companies, Inc. (NYSE:TRV) by 2.1% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 8,536 shares of the insurance provider’s stock after selling 179 shares during the quarter. Kimelman & Baird LLC’s holdings in Travelers Companies were worth $1,998,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of TRV. Y.D. More Investments Ltd acquired a new position in Travelers Companies in the 2nd quarter valued at $25,000. Wolff Wiese Magana LLC increased its stake in Travelers Companies by 39.1% in the third quarter. Wolff Wiese Magana LLC now owns 160 shares of the insurance provider’s stock valued at $37,000 after purchasing an additional 45 shares during the last quarter. True Wealth Design LLC purchased a new position in Travelers Companies during the third quarter worth about $41,000. Catalyst Capital Advisors LLC acquired a new stake in Travelers Companies in the 3rd quarter worth about $50,000. Finally, Salomon & Ludwin LLC grew its holdings in Travelers Companies by 22.1% in the 3rd quarter. Salomon & Ludwin LLC now owns 276 shares of the insurance provider’s stock valued at $65,000 after buying an additional 50 shares during the period. Institutional investors and hedge funds own 82.45% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the stock. Royal Bank of Canada increased their price objective on shares of Travelers Companies from $250.00 to $273.00 and gave the stock a “sector perform” rating in a report on Friday, October 18th. Wells Fargo & Company boosted their price objective on shares of Travelers Companies from $207.00 to $256.00 and gave the company an “equal weight” rating in a research note on Monday, October 21st. Janney Montgomery Scott lowered Travelers Companies from a “buy” rating to a “neutral” rating and set a $280.00 target price on the stock. in a research report on Thursday, November 21st. The Goldman Sachs Group boosted their price target on Travelers Companies from $216.00 to $245.00 and gave the company a “sell” rating in a research report on Tuesday, October 22nd. Finally, Keefe, Bruyette & Woods upped their price target on Travelers Companies from $245.00 to $273.00 and gave the stock a “market perform” rating in a research note on Tuesday, October 22nd. Four equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $251.15.

Insider Buying and Selling at Travelers Companies

In other Travelers Companies news, Vice Chairman William H. Heyman sold 2,014 shares of the business’s stock in a transaction on Thursday, October 24th. The shares were sold at an average price of $260.00, for a total transaction of $523,640.00. Following the completion of the sale, the insider now owns 250,384 shares in the company, valued at $65,099,840. The trade was a 0.80 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Diane Kurtzman sold 3,941 shares of the firm’s stock in a transaction dated Monday, October 21st. The stock was sold at an average price of $260.45, for a total transaction of $1,026,433.45. Following the completion of the transaction, the executive vice president now owns 1,715 shares in the company, valued at approximately $446,671.75. The trade was a 69.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 78,149 shares of company stock worth $20,295,856 over the last quarter. 1.33% of the stock is owned by corporate insiders.

Travelers Companies Stock Performance

Travelers Companies stock opened at $261.15 on Friday. The Travelers Companies, Inc. has a 52 week low of $180.44 and a 52 week high of $269.55. The company has a current ratio of 0.34, a quick ratio of 0.34 and a debt-to-equity ratio of 0.29. The stock has a market cap of $59.29 billion, a P/E ratio of 13.39, a price-to-earnings-growth ratio of 1.24 and a beta of 0.63. The stock has a 50 day moving average of $251.80 and a 200-day moving average of $229.22.

Travelers Companies (NYSE:TRV) last posted its quarterly earnings data on Thursday, October 17th. The insurance provider reported $5.24 EPS for the quarter, beating analysts’ consensus estimates of $3.79 by $1.45. The firm had revenue of $11.90 billion for the quarter, compared to the consensus estimate of $11.46 billion. Travelers Companies had a net margin of 10.02% and a return on equity of 17.69%. The firm’s revenue was up 11.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.95 EPS. On average, analysts expect that The Travelers Companies, Inc. will post 18.83 EPS for the current fiscal year.

Travelers Companies Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Tuesday, December 10th will be issued a $1.05 dividend. This represents a $4.20 annualized dividend and a yield of 1.61%. The ex-dividend date of this dividend is Tuesday, December 10th. Travelers Companies’s dividend payout ratio is currently 21.54%.

Travelers Companies 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.