Carnegie Investment Counsel Lowers Stake in The Travelers Companies, Inc. (NYSE:TRV)

Carnegie Investment Counsel cut its stake in The Travelers Companies, Inc. (NYSE:TRV) by 0.5% in the 4th quarter, Holdings Channel reports. The fund owned 12,909 shares of the insurance provider’s stock after selling 68 shares during the quarter. Carnegie Investment Counsel’s holdings in Travelers Companies were worth $3,110,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. State Street Corp raised its stake in shares of Travelers Companies by 0.8% during the third quarter. State Street Corp now owns 15,566,941 shares of the insurance provider’s stock worth $3,644,532,000 after acquiring an additional 120,228 shares in the last quarter. FMR LLC boosted its stake in shares of Travelers Companies by 12.6% in the 3rd quarter. FMR LLC now owns 14,048,691 shares of the insurance provider’s stock valued at $3,289,079,000 after purchasing an additional 1,568,909 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of Travelers Companies by 2.3% during the 3rd quarter. Geode Capital Management LLC now owns 5,076,220 shares of the insurance provider’s stock valued at $1,187,865,000 after purchasing an additional 114,714 shares during the last quarter. Legal & General Group Plc raised its position in Travelers Companies by 1.6% in the 2nd quarter. Legal & General Group Plc now owns 2,334,882 shares of the insurance provider’s stock worth $474,774,000 after purchasing an additional 37,029 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its stake in Travelers Companies by 0.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,496,652 shares of the insurance provider’s stock worth $350,396,000 after purchasing an additional 10,285 shares during the last quarter. Institutional investors own 82.45% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on TRV. Hsbc Global Res raised Travelers Companies from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, December 10th. Jefferies Financial Group lifted their price target on Travelers Companies from $210.00 to $235.00 and gave the stock a “hold” rating in a research note on Wednesday, October 9th. Royal Bank of Canada boosted their price objective on Travelers Companies from $250.00 to $273.00 and gave the company a “sector perform” rating in a research report on Friday, October 18th. Bank of America increased their price objective on Travelers Companies from $241.00 to $265.00 and gave the company an “underperform” rating in a research note on Thursday, October 17th. Finally, HSBC raised shares of Travelers Companies from a “hold” rating to a “buy” rating and set a $290.00 target price on the stock in a research note on Tuesday, December 10th. Four analysts have rated the stock with a sell rating, twelve have issued a hold rating, seven have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $254.65.

Insider Activity

In other news, CEO Alan D. Schnitzer sold 40,524 shares of the stock in a transaction that occurred on Monday, October 21st. The shares were sold at an average price of $260.12, for a total transaction of $10,541,102.88. Following the sale, the chief executive officer now owns 221,924 shares in the company, valued at $57,726,870.88. This represents a 15.44 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Vice Chairman William H. Heyman sold 3,740 shares of the business’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $264.80, for a total transaction of $990,352.00. Following the completion of the transaction, the insider now owns 250,384 shares of the company’s stock, valued at approximately $66,301,683.20. The trade was a 1.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 78,149 shares of company stock worth $20,295,856. Insiders own 1.33% of the company’s stock.

Travelers Companies Stock Performance

Shares of Travelers Companies stock opened at $239.65 on Friday. The business has a fifty day simple moving average of $249.91 and a two-hundred day simple moving average of $235.48. The firm has a market capitalization of $54.41 billion, a P/E ratio of 12.29, a P/E/G ratio of 1.01 and a beta of 0.65. 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 Travelers Companies, Inc. has a 12 month low of $195.57 and a 12 month high of $269.55.

Travelers Companies (NYSE:TRV) last posted its quarterly earnings data on Thursday, October 17th. The insurance provider reported $5.24 EPS for the quarter, topping the consensus estimate of $3.79 by $1.45. Travelers Companies had a net margin of 10.02% and a return on equity of 17.69%. The business had revenue of $11.90 billion for the quarter, compared to analyst estimates of $11.46 billion. During the same quarter in the previous year, the firm posted $1.95 earnings per share. Travelers Companies’s quarterly revenue was up 11.9% on a year-over-year basis. On average, equities analysts forecast that The Travelers Companies, Inc. will post 18.94 earnings per share for the current fiscal year.

Travelers Companies Company 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.