Clear Harbor Asset Management LLC reduced its stake in The Travelers Companies, Inc. (NYSE:TRV) by 5.1% during the second quarter, Holdings Channel reports. The fund owned 1,860 shares of the insurance provider’s stock after selling 100 shares during the period. Clear Harbor Asset Management LLC’s holdings in The Travelers Companies were worth $233,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. CWM LLC boosted its position in The Travelers Companies by 4.9% in the second quarter. CWM LLC now owns 794 shares of the insurance provider’s stock valued at $100,000 after buying an additional 37 shares during the last quarter. Westside Investment Management Inc. boosted its position in shares of The Travelers Companies by 361.1% in the first quarter. Westside Investment Management Inc. now owns 876 shares of the insurance provider’s stock worth $106,000 after buying an additional 686 shares in the last quarter. First Personal Financial Services boosted its position in shares of The Travelers Companies by 133.3% in the first quarter. First Personal Financial Services now owns 889 shares of the insurance provider’s stock worth $107,000 after buying an additional 508 shares in the last quarter. Liberty Capital Management Inc. boosted its position in shares of The Travelers Companies by 434.8% in the second quarter. Liberty Capital Management Inc. now owns 1,230 shares of the insurance provider’s stock worth $154,000 after buying an additional 1,000 shares in the last quarter. Finally, Bartlett & Co. LLC boosted its position in shares of The Travelers Companies by 30.0% in the first quarter. Bartlett & Co. LLC now owns 1,399 shares of the insurance provider’s stock worth $169,000 after buying an additional 323 shares in the last quarter. Hedge funds and other institutional investors own 78.95% of the company’s stock.

Shares of The Travelers Companies, Inc. (TRV) traded down 1.16% during midday trading on Friday, hitting $128.18. The stock had a trading volume of 1,535,138 shares. The stock has a 50 day moving average price of $127.13 and a 200-day moving average price of $123.13. The Travelers Companies, Inc. has a 52 week low of $103.45 and a 52 week high of $130.36. The stock has a market capitalization of $35.37 billion, a price-to-earnings ratio of 12.76 and a beta of 1.20.

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

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

The Travelers Companies announced that its Board of Directors has approved a stock buyback program on Thursday, April 20th that allows the company to buyback $5.00 billion in outstanding shares. This buyback authorization allows the insurance provider to buy shares of its stock through open market purchases. Shares buyback programs are often a sign that the company’s management believes its stock is undervalued.

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

In related news, EVP Andy F. Bessette sold 3,300 shares of the firm’s stock in a transaction on Tuesday, August 1st. The stock was sold at an average price of $128.50, for a total transaction of $424,050.00. Following the sale, the executive vice president now owns 10,000 shares of the company’s stock, valued at approximately $1,285,000. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Douglas K. Russell sold 9,686 shares of the firm’s stock in a transaction on Thursday, May 25th. The stock was sold at an average price of $123.00, for a total value of $1,191,378.00. Following the sale, 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. Insiders have sold a total of 189,503 shares of company stock worth $24,085,032 in the last ninety days. 0.82% of the stock is currently owned by company insiders.

About The Travelers Companies

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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