11,217 Shares in The Travelers Companies, Inc. $TRV Bought by Third View Private Wealth LLC

Key Points

• Third View Private Wealth LLC established a new position in Travelers, purchasing 11,217 shares in Q4 worth about $3.25 million, while institutional investors now own roughly 82.45% of the stock.
• Company insiders have been net sellers: EVP Michael Klein sold 10,000 shares (~$3.01M) and CEO Alan Schnitzer sold 55,733 shares (~$16.42M), with insiders offloading 92,845 shares (~$27.24M) in the past 90 days and now owning 1.46% of the company.
• Travelers beat expectations last quarter with EPS $11.13 vs. $8.34 and $12.43B revenue, announced a $5.0 billion buyback (up to 8.3% of shares), pays a $1.10 quarterly dividend (≈1.5% yield), and carries a consensus "Hold" rating with a $312.62 price target.

Third View Private Wealth LLC purchased a new position in shares of The Travelers Companies, Inc. (NYSE:TRV - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 11,217 shares of the insurance provider's stock, valued at approximately $3,253,000.

A number of other hedge funds have also recently added to or reduced their stakes in the company. FSM Wealth Advisors LLC purchased a new stake in Travelers Companies during the fourth quarter worth $220,000. Robeco Institutional Asset Management B.V. boosted its holdings in Travelers Companies by 17.3% during the fourth quarter. Robeco Institutional Asset Management B.V. now owns 901,938 shares of the insurance provider's stock worth $261,616,000 after buying an additional 133,152 shares in the last quarter. Elevate Capital Advisors LLC boosted its holdings in Travelers Companies by 6.1% during the fourth quarter. Elevate Capital Advisors LLC now owns 18,328 shares of the insurance provider's stock worth $5,316,000 after buying an additional 1,052 shares in the last quarter. Cantor Fitzgerald Investment Advisors L.P. raised its position in Travelers Companies by 18.9% during the fourth quarter. Cantor Fitzgerald Investment Advisors L.P. now owns 54,054 shares of the insurance provider's stock worth $15,679,000 after acquiring an additional 8,591 shares during the period. Finally, Ritholtz Wealth Management raised its position in Travelers Companies by 3.0% during the fourth quarter. Ritholtz Wealth Management now owns 39,675 shares of the insurance provider's stock worth $11,508,000 after acquiring an additional 1,139 shares during the period. 82.45% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, EVP Michael Frederick Klein sold 10,000 shares of the firm's stock in a transaction dated Friday, February 6th. The shares were sold at an average price of $301.18, for a total transaction of $3,011,800.00. Following the completion of the sale, the executive vice president directly owned 33,638 shares in the company, valued at approximately $10,131,092.84. This trade represents a 22.92% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Alan D. Schnitzer sold 55,733 shares of the firm's stock in a transaction dated Wednesday, February 4th. The stock was sold at an average price of $294.70, for a total transaction of $16,424,515.10. Following the sale, the chief executive officer owned 260,329 shares of the company's stock, valued at approximately $76,718,956.30. The trade was a 17.63% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 92,845 shares of company stock valued at $27,239,631 in the last ninety days. 1.46% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of research firms have weighed in on TRV. Cantor Fitzgerald upped their price objective on shares of Travelers Companies from $316.00 to $319.00 and gave the stock an "overweight" rating in a research report on Monday, February 2nd. Argus upgraded shares of Travelers Companies to a "strong-buy" rating in a research report on Monday, January 26th. Citigroup restated a "neutral" rating on shares of Travelers Companies in a research report on Tuesday, January 27th. Weiss Ratings upgraded shares of Travelers Companies from a "buy (b+)" rating to a "buy (a-)" rating in a research report on Monday, February 9th. Finally, UBS Group restated a "neutral" rating on shares of Travelers Companies in a research report on Monday, February 2nd. Two investment analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating, ten have assigned a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, Travelers Companies currently has a consensus rating of "Hold" and a consensus price target of $312.62.

Travelers Companies Trading Up 1.2%

Shares of Travelers Companies stock opened at $300.84 on Tuesday. The stock has a market cap of $63.97 billion, a P/E ratio of 10.93, a P/E/G ratio of 2.76 and a beta of 0.51. The stock's 50 day simple moving average is $299.22 and its 200-day simple moving average is $287.49. The Travelers Companies, Inc. has a 1-year low of $247.55 and a 1-year high of $313.12. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.33 and a quick ratio of 0.33.

Travelers Companies (NYSE:TRV - Get Free Report) last issued its earnings results on Wednesday, January 21st. The insurance provider reported $11.13 earnings per share for the quarter, topping the consensus estimate of $8.34 by $2.79. The business had revenue of $12.43 billion for the quarter, compared to analysts' expectations of $11.13 billion. Travelers Companies had a return on equity of 20.70% and a net margin of 12.88%.The business's revenue for the quarter was up 3.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $9.15 EPS. Analysts predict that The Travelers Companies, Inc. will post 17.02 EPS for the current fiscal year.

Travelers Companies announced that its board has initiated a stock buyback program on Wednesday, January 21st that permits the company to buyback $5.00 billion in shares. This buyback authorization permits the insurance provider to purchase up to 8.3% of its stock through open market purchases. Stock buyback programs are typically an indication that the company's management believes its shares are undervalued.

Travelers Companies Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 31st. Investors of record on Tuesday, March 10th were given a dividend of $1.10 per share. This represents a $4.40 annualized dividend and a yield of 1.5%. The ex-dividend date was Tuesday, March 10th. Travelers Companies's dividend payout ratio (DPR) is presently 15.98%.

About Travelers Companies

The Travelers Companies, Inc NYSE: TRV is a leading provider of property and casualty insurance products and services. The company underwrites a broad range of commercial and personal insurance lines, offering coverage designed to protect individuals, small and midsize businesses, and large corporate clients against property loss, liability, and other operational risks. Travelers is known for combining underwriting, claims management and risk control services to help clients prevent losses and recover when incidents occur.

On the commercial side, Travelers writes primary and specialty coverages including property, general liability, commercial auto, workers' compensation, professional and management liability, surety and inland marine.

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