Allstate Corp Has $5.13 Million Stock Position in The Travelers Companies, Inc. $TRV

Key Points

• Allstate Corp more than doubled its stake in Travelers Companies in the fourth quarter, boosting its holdings by 115.6% to 17,668 shares worth about $5.13 million.
• Travelers reported stronger-than-expected quarterly results, posting $7.71 EPS versus the $6.80 consensus and revenue of $11.92 billion, while analysts now see full-year EPS of 28.03.
• The company also raised its quarterly dividend to $1.25 per share from $1.10, and its stock is trading near the upper end of its 52-week range after recent insider selling and mixed analyst ratings.

Allstate Corp lifted its holdings in shares of The Travelers Companies, Inc. (NYSE:TRV - Free Report) by 115.6% in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 17,668 shares of the insurance provider's stock after buying an additional 9,475 shares during the period. Allstate Corp's holdings in Travelers Companies were worth $5,125,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Vanguard Group Inc. increased its holdings in Travelers Companies by 0.5% in the 4th quarter. Vanguard Group Inc. now owns 22,109,933 shares of the insurance provider's stock worth $6,413,207,000 after purchasing an additional 110,311 shares in the last quarter. JPMorgan Chase & Co. grew its position in shares of Travelers Companies by 1.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 7,746,231 shares of the insurance provider's stock valued at $2,162,917,000 after buying an additional 119,481 shares during the last quarter. AQR Capital Management LLC grew its position in shares of Travelers Companies by 22.8% in the 3rd quarter. AQR Capital Management LLC now owns 1,785,288 shares of the insurance provider's stock valued at $496,872,000 after buying an additional 331,170 shares during the last quarter. UBS Group AG grew its position in shares of Travelers Companies by 5.3% in the 4th quarter. UBS Group AG now owns 1,774,756 shares of the insurance provider's stock valued at $514,786,000 after buying an additional 89,159 shares during the last quarter. Finally, Legal & General Group Plc grew its position in shares of Travelers Companies by 2.5% in the 4th quarter. Legal & General Group Plc now owns 1,711,785 shares of the insurance provider's stock valued at $496,520,000 after buying an additional 41,769 shares during the last quarter. Institutional investors and hedge funds own 82.45% of the company's stock.

Insider Activity at Travelers Companies

In related news, insider Avrohom J. Kess sold 6,735 shares of the stock in a transaction that occurred on Tuesday, April 28th. The stock was sold at an average price of $308.78, for a total transaction of $2,079,633.30. Following the completion of the sale, the insider directly owned 48,737 shares of the company's stock, valued at approximately $15,049,010.86. This trade represents a 12.14% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Michael Frederick Klein sold 10,000 shares of the stock in a transaction that occurred on Monday, April 20th. The shares were sold at an average price of $303.77, for a total value of $3,037,700.00. Following the sale, the executive vice president directly owned 45,125 shares of the company's stock, valued at $13,707,621.25. The trade was a 18.14% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 27,573 shares of company stock valued at $8,427,646 in the last ninety days. Insiders own 1.39% of the company's stock.

Analyst Ratings Changes

Several equities research analysts recently commented on TRV shares. JPMorgan Chase & Co. upgraded Travelers Companies from an "underweight" rating to a "neutral" rating and upped their target price for the company from $316.00 to $322.00 in a research report on Tuesday. Bank of America cut their target price on Travelers Companies from $259.00 to $257.00 and set an "underperform" rating on the stock in a research report on Tuesday, April 14th. Keefe, Bruyette & Woods upped their target price on Travelers Companies from $340.00 to $342.00 and gave the company an "outperform" rating in a research report on Monday, April 20th. Evercore reaffirmed an "outperform" rating on shares of Travelers Companies in a research note on Friday, April 17th. Finally, Wells Fargo & Company upped their price target on Travelers Companies from $285.00 to $305.00 and gave the stock an "equal weight" rating in a research note on Thursday, April 9th. Two equities research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating, eleven have given a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $311.47.

Travelers Companies Stock Performance

Shares of Travelers Companies stock opened at $305.21 on Wednesday. The company has a market cap of $64.90 billion, a PE ratio of 9.08, a price-to-earnings-growth ratio of 2.76 and a beta of 0.50. The Travelers Companies, Inc. has a 52 week low of $249.19 and a 52 week high of $313.12. The business has a 50 day moving average price of $299.60 and a 200-day moving average price of $293.46. The company has a quick ratio of 0.35, a current ratio of 0.35 and a debt-to-equity ratio of 0.29.

Travelers Companies (NYSE:TRV - Get Free Report) last issued its quarterly earnings data on Thursday, April 16th. The insurance provider reported $7.71 EPS for the quarter, topping the consensus estimate of $6.80 by $0.91. The firm had revenue of $11.92 billion during the quarter, compared to the consensus estimate of $11.11 billion. Travelers Companies had a return on equity of 24.06% and a net margin of 15.54%.The company's quarterly revenue was down 1.7% compared to the same quarter last year. During the same period in the prior year, the business posted $1.91 earnings per share. Equities 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 declared a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Wednesday, June 10th will be given a dividend of $1.25 per share. The ex-dividend date of this dividend is Wednesday, June 10th. This is a positive change from Travelers Companies's previous quarterly dividend of $1.10. This represents a $5.00 dividend on an annualized basis and a dividend yield of 1.6%. Travelers Companies's dividend payout ratio (DPR) is 14.88%.

Travelers Companies Company Profile

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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