Allworth Financial LP Buys 40,709 Shares of The Travelers Companies, Inc. $TRV

Key Points

• Allworth Financial LP increased its stake in Travelers Companies by 431% in the fourth quarter, ending with 50,155 shares valued at about $14.5 million.
• Travelers delivered a strong quarterly result, reporting $7.71 EPS versus the $6.80 consensus and revenue of $11.92 billion, while also authorizing a $5 billion share buyback and raising its quarterly dividend to $1.25.
• Despite the positive fundamentals, insider selling has been notable, with executives selling 27,573 shares over the past three months; analysts currently have an overall Hold rating with a consensus target price of $309.13.

Allworth Financial LP grew its position in The Travelers Companies, Inc. (NYSE:TRV - Free Report) by 431.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 50,155 shares of the insurance provider's stock after purchasing an additional 40,709 shares during the period. Allworth Financial LP's holdings in Travelers Companies were worth $14,548,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of the company. Osterweis Capital Management Inc. boosted its position in Travelers Companies by 1,820.0% in the second quarter. Osterweis Capital Management Inc. now owns 96 shares of the insurance provider's stock worth $26,000 after purchasing an additional 91 shares during the last quarter. Kohmann Bosshard Financial Services LLC purchased a new stake in shares of Travelers Companies during the 4th quarter valued at $28,000. Navalign LLC purchased a new position in shares of Travelers Companies in the 4th quarter worth about $35,000. eCIO Inc. bought a new position in Travelers Companies during the fourth quarter valued at about $37,000. Finally, Optima Capital LLC purchased a new stake in Travelers Companies during the fourth quarter worth about $38,000. Institutional investors own 82.45% of the company's stock.

Travelers Companies Price Performance

NYSE:TRV opened at $298.32 on Friday. The Travelers Companies, Inc. has a 52-week low of $249.19 and a 52-week high of $313.12. The stock has a fifty day moving average of $299.39 and a 200 day moving average of $291.51. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.35 and a current ratio of 0.35. The firm has a market capitalization of $63.44 billion, a price-to-earnings ratio of 8.88, a P/E/G ratio of 2.66 and a beta of 0.50.

Travelers Companies (NYSE:TRV - Get Free Report) last announced its earnings results on Thursday, April 16th. The insurance provider reported $7.71 earnings per share for the quarter, topping analysts' consensus estimates of $6.80 by $0.91. The business had revenue of $11.92 billion for the quarter, compared to analyst estimates 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 company earned $1.91 EPS. On average, research analysts expect that The Travelers Companies, Inc. will post 28.03 EPS for the current fiscal year.

Travelers Companies announced that its Board of Directors 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 reacquire up to 8.3% of its shares through open market purchases. Shares buyback programs are usually an indication that the company's leadership believes its stock is undervalued.

Travelers Companies Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Wednesday, June 10th will be given a $1.25 dividend. This represents a $5.00 annualized dividend and a dividend yield of 1.7%. This is a positive change from Travelers Companies's previous quarterly dividend of $1.10. The ex-dividend date is Wednesday, June 10th. Travelers Companies's dividend payout ratio (DPR) is currently 13.09%.

Insiders Place Their Bets

In other Travelers Companies news, EVP Jeffrey P. Klenk sold 6,414 shares of Travelers Companies stock in a transaction that occurred on Monday, April 20th. The shares were sold at an average price of $305.06, for a total transaction of $1,956,654.84. Following the completion of the sale, the executive vice president directly owned 6,075 shares in the company, valued at $1,853,239.50. The trade was a 51.36% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Michael Frederick Klein sold 10,000 shares of the business's stock in a transaction that occurred on Monday, April 20th. The stock was sold at an average price of $303.77, for a total transaction of $3,037,700.00. Following the completion of the transaction, the executive vice president directly owned 45,125 shares of the company's stock, valued at approximately $13,707,621.25. This represents a 18.14% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 27,573 shares of company stock valued at $8,427,646 over the last three months. Corporate insiders own 1.39% of the company's stock.

Analyst Ratings Changes

TRV has been the topic of several research reports. UBS Group reaffirmed a "neutral" rating on shares of Travelers Companies in a research report on Monday, February 2nd. Keefe, Bruyette & Woods raised their price target on shares of Travelers Companies from $340.00 to $342.00 and gave the stock an "outperform" rating in a research note on Monday, April 20th. Barclays lifted their price target on shares of Travelers Companies from $312.00 to $331.00 and gave the stock an "equal weight" rating in a report on Wednesday, April 8th. Roth Mkm reiterated a "buy" rating on shares of Travelers Companies in a research note on Monday, April 20th. Finally, Cantor Fitzgerald increased their price objective on Travelers Companies from $316.00 to $319.00 and gave the company an "overweight" rating in a report on Monday, February 2nd. Two equities research analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating, ten have issued a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $309.13.

Travelers Companies 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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