RNC Capital Management LLC Sells 2,085 Shares of The Travelers Companies, Inc. (NYSE:TRV)

RNC Capital Management LLC reduced its position in The Travelers Companies, Inc. (NYSE:TRV) by 9.5% during the fourth quarter, HoldingsChannel reports. The fund owned 19,912 shares of the insurance provider’s stock after selling 2,085 shares during the quarter. RNC Capital Management LLC’s holdings in Travelers Companies were worth $4,797,000 as of its most recent filing with the SEC.

A number of other hedge funds have also added to or reduced their stakes in TRV. FMR LLC grew its holdings in shares of Travelers Companies by 12.6% during the third quarter. FMR LLC now owns 14,048,691 shares of the insurance provider’s stock worth $3,289,079,000 after purchasing an additional 1,568,909 shares in the last quarter. International Assets Investment Management LLC grew its holdings in shares of Travelers Companies by 23,378.8% during the third quarter. International Assets Investment Management LLC now owns 520,291 shares of the insurance provider’s stock worth $121,811,000 after purchasing an additional 518,075 shares in the last quarter. Bank of Montreal Can grew its holdings in shares of Travelers Companies by 66.9% during the third quarter. Bank of Montreal Can now owns 705,793 shares of the insurance provider’s stock worth $166,645,000 after purchasing an additional 282,884 shares in the last quarter. Point72 Asset Management L.P. purchased a new position in shares of Travelers Companies during the third quarter worth about $54,988,000. Finally, Janus Henderson Group PLC grew its holdings in shares of Travelers Companies by 216.3% during the third quarter. Janus Henderson Group PLC now owns 339,901 shares of the insurance provider’s stock worth $79,582,000 after purchasing an additional 232,428 shares in the last quarter. Hedge funds and other institutional investors own 82.45% of the company’s stock.

Travelers Companies Price Performance

Shares of Travelers Companies stock opened at $247.48 on Friday. The company has a quick ratio of 0.34, a current ratio of 0.33 and a debt-to-equity ratio of 0.29. The company has a market cap of $56.18 billion, a PE ratio of 11.53, a P/E/G ratio of 1.07 and a beta of 0.64. The business has a 50 day moving average of $245.62 and a 200 day moving average of $239.23. The Travelers Companies, Inc. has a 52 week low of $200.21 and a 52 week high of $269.55.

Travelers Companies (NYSE:TRV) last announced its earnings results on Wednesday, January 22nd. The insurance provider reported $9.15 EPS for the quarter, beating analysts’ consensus estimates of $6.50 by $2.65. The company had revenue of $12.01 billion during the quarter, compared to the consensus estimate of $10.80 billion. Travelers Companies had a return on equity of 19.06% and a net margin of 10.77%. The firm’s revenue for the quarter was up 9.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $7.01 earnings per share. As a group, equities research analysts forecast that The Travelers Companies, Inc. will post 20.6 earnings per share for the current year.

Travelers Companies Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 10th will be paid a $1.05 dividend. The ex-dividend date is Monday, March 10th. This represents a $4.20 annualized dividend and a yield of 1.70%. Travelers Companies’s payout ratio is 19.56%.

Insider Buying and Selling

In other news, Vice Chairman William H. Heyman sold 3,740 shares of the stock in a transaction on Monday, November 25th. The stock was sold at an average price of $264.80, for a total value of $990,352.00. Following the sale, the insider now directly owns 250,384 shares of the company’s stock, valued at approximately $66,301,683.20. This represents a 1.47 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Maria Olivo sold 10,410 shares of the stock in a transaction on Monday, November 18th. The stock was sold at an average price of $261.80, for a total value of $2,725,338.00. Following the completion of the sale, the executive vice president now directly owns 111,162 shares in the company, valued at approximately $29,102,211.60. This represents a 8.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.33% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several research analysts have recently commented on TRV shares. BMO Capital Markets boosted their price objective on Travelers Companies from $275.00 to $297.00 and gave the stock an “outperform” rating in a report on Friday, January 24th. Royal Bank of Canada reissued a “sector perform” rating and set a $268.00 price objective (down previously from $273.00) on shares of Travelers Companies in a report on Thursday, January 23rd. UBS Group boosted their target price on Travelers Companies from $244.00 to $270.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 22nd. HSBC upgraded Travelers Companies from a “hold” rating to a “buy” rating and set a $290.00 target price for the company in a research report on Tuesday, December 10th. Finally, Keefe, Bruyette & Woods boosted their target price on Travelers Companies from $268.00 to $275.00 and gave the stock a “market perform” rating in a research report on Monday, January 27th. Four investment analysts have rated the stock with a sell rating, twelve have issued a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $260.47.

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.