3,486 Shares in The Travelers Companies, Inc. $TRV Acquired by Kornitzer Capital Management Inc. KS

Key Points

• Kornitzer Capital Management opened a new position in Travelers (TRV) in Q4, acquiring 3,486 shares valued at approximately $1.01 million.
• Travelers beat expectations in its most recent quarter with $7.71 EPS (vs. $6.80 expected) and $11.92 billion in revenue, and the company boosted its shareholder returns by raising the quarterly dividend to $1.25 and authorizing a $5.0 billion share buyback (about 8.3% of shares).
• Insider selling has been notable recently—insiders sold 103,706 shares worth roughly $31.0 million over the past 90 days, including sales by Avrohom J. Kess and EVP Michael F. Klein, with insiders now owning 1.39% of the company.

Kornitzer Capital Management Inc. KS acquired a new position in shares of The Travelers Companies, Inc. (NYSE:TRV - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 3,486 shares of the insurance provider's stock, valued at approximately $1,011,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Osterweis Capital Management Inc. boosted its stake in Travelers Companies by 1,820.0% during the 2nd quarter. Osterweis Capital Management Inc. now owns 96 shares of the insurance provider's stock worth $26,000 after acquiring an additional 91 shares during the last quarter. Barnes Dennig Private Wealth Management LLC boosted its stake in Travelers Companies by 134.1% during the 3rd quarter. Barnes Dennig Private Wealth Management LLC now owns 96 shares of the insurance provider's stock worth $27,000 after acquiring an additional 55 shares during the last quarter. Kohmann Bosshard Financial Services LLC bought a new position in Travelers Companies during the 4th quarter worth approximately $28,000. eCIO Inc. bought a new position in Travelers Companies during the 4th quarter worth approximately $37,000. Finally, Optima Capital LLC bought a new position in Travelers Companies during the 4th quarter worth approximately $38,000. Institutional investors own 82.45% of the company's stock.

Wall Street Analyst Weigh In

Several research firms recently weighed in on TRV. The Goldman Sachs Group lowered shares of Travelers Companies from a "buy" rating to a "neutral" rating and set a $304.00 price objective on the stock. in a research note on Wednesday, January 7th. Weiss Ratings raised shares of Travelers Companies from a "buy (b+)" rating to a "buy (a-)" rating in a research note on Monday, February 9th. Wells Fargo & Company lifted their price target on shares of Travelers Companies from $285.00 to $305.00 and gave the company an "equal weight" rating in a research note on Thursday, April 9th. Evercore reaffirmed an "outperform" rating on shares of Travelers Companies in a research note on Friday, April 17th. Finally, Citigroup reaffirmed a "neutral" rating on shares of Travelers Companies in a research note on Tuesday, January 27th. Two investment analysts have rated the stock with a Strong Buy rating, six have given a Buy rating, ten have assigned a Hold rating and three have given a Sell rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $309.13.

Insider Buying and Selling

In other news, insider Avrohom J. Kess sold 6,735 shares of Travelers Companies stock in a transaction that occurred on Tuesday, April 28th. The shares were sold at an average price of $308.78, for a total value of $2,079,633.30. Following the sale, the insider directly owned 48,737 shares in the company, valued at $15,049,010.86. This trade represents a 12.14% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Michael Frederick Klein sold 10,000 shares of Travelers Companies stock in a transaction that occurred on Monday, April 20th. The shares were sold at an average price of $303.77, for a total transaction of $3,037,700.00. Following the completion of the sale, the executive vice president owned 45,125 shares in the company, valued at $13,707,621.25. This trade represents a 18.14% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 103,706 shares of company stock valued at $30,991,761 over the last ninety days. Insiders own 1.39% of the company's stock.

Travelers Companies Price Performance

NYSE TRV opened at $304.99 on Monday. The company has a quick ratio of 0.35, a current ratio of 0.35 and a debt-to-equity ratio of 0.29. The Travelers Companies, Inc. has a 12-month low of $249.19 and a 12-month high of $313.12. The company has a market capitalization of $64.86 billion, a PE ratio of 9.07, a price-to-earnings-growth ratio of 2.74 and a beta of 0.50. The firm's 50 day moving average is $300.75 and its 200-day moving average is $289.72.

Travelers Companies (NYSE:TRV - Get Free Report) last posted its quarterly earnings data on Thursday, April 16th. The insurance provider reported $7.71 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $6.80 by $0.91. Travelers Companies had a net margin of 15.54% and a return on equity of 24.06%. The company had revenue of $11.92 billion for the quarter, compared to the consensus estimate of $11.11 billion. During the same period last year, the company earned $1.91 earnings per share. The firm's revenue was down 1.7% compared to the same quarter last year. Equities research analysts anticipate that The Travelers Companies, Inc. will post 28.03 earnings per share for the current fiscal year.

Travelers Companies Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Wednesday, June 10th will be issued a $1.25 dividend. This represents a $5.00 dividend on an annualized basis and a dividend yield of 1.6%. This is a boost from Travelers Companies's previous quarterly dividend of $1.10. The ex-dividend date is Wednesday, June 10th. Travelers Companies's dividend payout ratio is 13.09%.

Travelers Companies declared that its Board of Directors has authorized a share buyback program on Wednesday, January 21st that permits the company to buyback $5.00 billion in outstanding shares. This buyback authorization permits the insurance provider to repurchase 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.

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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