Cibc World Markets Corp increased its position in The Travelers Companies, Inc. (NYSE:TRV) by 46.9% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 244,436 shares of the insurance provider’s stock after buying an additional 78,076 shares during the period. Cibc World Markets Corp owned 0.09% of The Travelers Companies worth $29,464,000 as of its most recent filing with the SEC.
Other hedge funds also recently modified their holdings of the company. Norges Bank bought a new stake in shares of The Travelers Companies during the fourth quarter worth about $262,153,000. Arrowstreet Capital Limited Partnership increased its stake in shares of The Travelers Companies by 8,050.5% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 489,028 shares of the insurance provider’s stock worth $59,867,000 after buying an additional 483,028 shares during the period. Karp Capital Management Corp increased its stake in shares of The Travelers Companies by 9,291.9% in the first quarter. Karp Capital Management Corp now owns 374,267 shares of the insurance provider’s stock worth $45,114,000 after buying an additional 370,282 shares during the period. BNP Paribas Arbitrage SA increased its stake in shares of The Travelers Companies by 188.2% in the first quarter. BNP Paribas Arbitrage SA now owns 434,529 shares of the insurance provider’s stock worth $52,378,000 after buying an additional 283,750 shares during the period. Finally, Canada Pension Plan Investment Board increased its stake in shares of The Travelers Companies by 164.8% in the first quarter. Canada Pension Plan Investment Board now owns 347,746 shares of the insurance provider’s stock worth $41,917,000 after buying an additional 216,408 shares during the last quarter. 77.87% of the stock is owned by institutional investors and hedge funds.
The Travelers Companies, Inc. (NYSE:TRV) traded up 1.06% during midday trading on Friday, reaching $127.21. The company had a trading volume of 1,277,677 shares. The firm has a market capitalization of $35.10 billion, a PE ratio of 12.67 and a beta of 1.21. The firm’s 50-day moving average price is $126.75 and its 200 day moving average price is $122.35. The Travelers Companies, Inc. has a 12 month low of $103.45 and a 12 month high of $129.60.
The Travelers Companies (NYSE:TRV) last issued its quarterly earnings results on Thursday, July 20th. The insurance provider reported $1.92 EPS for the quarter, missing analysts’ consensus estimates of $2.07 by $0.15. The business had revenue of $6.35 billion during the quarter, compared to analysts’ expectations of $6.31 billion. The Travelers Companies had a net margin of 10.15% and a return on equity of 11.68%. The company’s revenue for the quarter was up 4.7% on a year-over-year basis. During the same period in the prior year, the company posted $2.20 EPS. Equities analysts anticipate that The Travelers Companies, Inc. will post $8.94 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Friday, September 8th will be issued a $0.72 dividend. This represents a $2.88 dividend on an annualized basis and a yield of 2.26%. The ex-dividend date of this dividend is Thursday, September 7th. The Travelers Companies’s dividend payout ratio is currently 28.77%.
The Travelers Companies announced that its Board of Directors has initiated a stock repurchase program on Thursday, April 20th that authorizes the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization authorizes the insurance provider to reacquire shares of its stock through open market purchases. Shares repurchase programs are generally an indication that the company’s management believes its stock is undervalued.
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A number of analysts recently issued reports on TRV shares. Argus raised The Travelers Companies from a “hold” rating to a “buy” rating and set a $132.00 price objective for the company in a research report on Monday, April 24th. Vetr raised The Travelers Companies from a “hold” rating to a “buy” rating and set a $132.68 price objective for the company in a research report on Tuesday, June 27th. Bank of America Corporation downgraded The Travelers Companies from a “buy” rating to a “neutral” rating and raised their price objective for the stock from $120.62 to $129.44 in a research report on Monday, June 19th. Citigroup Inc. raised their price objective on The Travelers Companies from $140.00 to $150.00 and gave the stock a “buy” rating in a research report on Thursday, July 13th. Finally, BidaskClub raised The Travelers Companies from a “hold” rating to a “buy” rating in a research report on Saturday, June 17th. Five analysts have rated the stock with a sell rating, seven have issued a hold rating and six have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $123.79.
In other The Travelers Companies news, Vice Chairman Jay S. Benet sold 5,518 shares of the stock in a transaction that occurred on Monday, June 19th. The stock was sold at an average price of $128.72, for a total transaction of $710,276.96. Following the transaction, the insider now owns 82,824 shares of the company’s stock, valued at approximately $10,661,105.28. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, EVP John P. Clifford, Jr. sold 5,500 shares of the stock in a transaction that occurred on Friday, May 5th. The stock was sold at an average price of $120.92, for a total value of $665,060.00. The disclosure for this sale can be found here. Insiders sold 125,049 shares of company stock valued at $15,706,306 in the last three months. 0.82% of the stock is currently owned by company insiders.
The Travelers Companies Company Profile
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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