Abner Herrman & Brock LLC Sells 23,475 Shares of The Travelers Companies, Inc. (NYSE:TRV)

Abner Herrman & Brock LLC trimmed its stake in The Travelers Companies, Inc. (NYSE:TRV) by 83.1% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 4,782 shares of the insurance provider’s stock after selling 23,475 shares during the period. Abner Herrman & Brock LLC’s holdings in Travelers Companies were worth $830,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in TRV. Natixis lifted its position in Travelers Companies by 234.3% during the 4th quarter. Natixis now owns 94,008 shares of the insurance provider’s stock worth $17,626,000 after acquiring an additional 65,888 shares during the last quarter. Pathstone Family Office LLC lifted its position in shares of Travelers Companies by 4.1% during the 4th quarter. Pathstone Family Office LLC now owns 28,300 shares of the insurance provider’s stock worth $5,320,000 after purchasing an additional 1,116 shares during the last quarter. Caprock Group LLC acquired a new position in shares of Travelers Companies during the 1st quarter worth about $775,000. Prostatis Group LLC bought a new stake in Travelers Companies during the 4th quarter valued at approximately $839,000. Finally, MGO One Seven LLC grew its holdings in Travelers Companies by 5.2% in the 1st quarter. MGO One Seven LLC now owns 8,032 shares of the insurance provider’s stock valued at $1,377,000 after buying an additional 398 shares during the last quarter. 81.12% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, EVP Michael Frederick Klein sold 10,000 shares of the firm’s stock in a transaction dated Monday, July 24th. The shares were sold at an average price of $175.05, for a total transaction of $1,750,500.00. Following the completion of the sale, the executive vice president now owns 14,080 shares in the company, valued at $2,464,704. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 1.29% of the company’s stock.

Analyst Upgrades and Downgrades

TRV has been the subject of a number of recent research reports. Royal Bank of Canada increased their target price on Travelers Companies from C$183.00 to C$185.00 in a report on Thursday, July 20th. StockNews.com assumed coverage on shares of Travelers Companies in a report on Thursday, August 17th. They set a “hold” rating on the stock. JPMorgan Chase & Co. boosted their price objective on shares of Travelers Companies from $185.00 to $194.00 in a research report on Thursday, July 6th. Citigroup lifted their price objective on shares of Travelers Companies from $188.00 to $191.00 and gave the company a “neutral” rating in a research report on Monday, July 24th. Finally, Wells Fargo & Company upped their price target on shares of Travelers Companies from $183.00 to $185.00 in a research note on Thursday, July 20th. Eight equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $196.08.

Travelers Companies Trading Up 1.2 %

Travelers Companies stock traded up $2.02 during trading hours on Thursday, hitting $165.15. The stock had a trading volume of 244,611 shares, compared to its average volume of 1,327,356. The stock has a market cap of $37.81 billion, a price-to-earnings ratio of 17.37, a P/E/G ratio of 1.34 and a beta of 0.60. The business’s 50 day simple moving average is $166.85 and its 200-day simple moving average is $172.43. The company has a quick ratio of 0.33, a current ratio of 0.33 and a debt-to-equity ratio of 0.37. The Travelers Companies, Inc. has a one year low of $149.65 and a one year high of $194.51.

Travelers Companies (NYSE:TRV) last posted its quarterly earnings results on Thursday, July 20th. The insurance provider reported $0.06 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.05 by ($1.99). The business had revenue of $10.10 billion for the quarter, compared to the consensus estimate of $9.97 billion. Travelers Companies had a return on equity of 10.75% and a net margin of 5.77%. Travelers Companies’s quarterly revenue was up 10.5% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.57 earnings per share. On average, equities analysts predict that The Travelers Companies, Inc. will post 12.01 EPS for the current fiscal year.

Travelers Companies Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Friday, September 8th will be paid a dividend of $1.00 per share. The ex-dividend date is Thursday, September 7th. This represents a $4.00 dividend on an annualized basis and a yield of 2.42%. Travelers Companies’s dividend payout ratio (DPR) is currently 42.60%.

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. It operates through three segments: Business Insurance, Bond & Specialty Insurance, and Personal Insurance.