AlphaQuest LLC Increases Stock Holdings in The Travelers Companies, Inc. $TRV

Key Points

• AlphaQuest LLC boosted its stake in Travelers Companies by 332.6% in the fourth quarter, buying 5,495 additional shares and bringing its total holding to 7,147 shares worth about $2.07 million.
• Several other large investors also increased positions, and institutional ownership stands at 82.45% of Travelers’ stock, showing continued strong institutional interest.
• Travelers reported better-than-expected quarterly earnings of $7.71 per share and raised its dividend to $1.25 per quarter from $1.10, while analysts currently view the stock with a consensus rating of “Hold”.

AlphaQuest LLC increased its holdings in The Travelers Companies, Inc. (NYSE:TRV - Free Report) by 332.6% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 7,147 shares of the insurance provider's stock after buying an additional 5,495 shares during the period. AlphaQuest LLC's holdings in Travelers Companies were worth $2,073,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the company. Vanguard Group Inc. increased its holdings in shares of Travelers Companies by 0.5% in the fourth quarter. Vanguard Group Inc. now owns 22,109,933 shares of the insurance provider's stock worth $6,413,207,000 after buying an additional 110,311 shares during the period. JPMorgan Chase & Co. grew its position in Travelers Companies by 1.6% during 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 purchasing an additional 119,481 shares during the last quarter. AQR Capital Management LLC boosted its stake in Travelers Companies by 22.8% during 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 purchasing an additional 331,170 shares during the last quarter. UBS Group AG boosted its stake 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 worth $514,786,000 after buying an additional 89,159 shares during the last quarter. Finally, Legal & General Group Plc boosted its holdings in shares of Travelers Companies by 2.5% in the fourth quarter. Legal & General Group Plc now owns 1,711,785 shares of the insurance provider's stock worth $496,520,000 after buying an additional 41,769 shares during the last quarter. Hedge funds and other institutional investors own 82.45% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on TRV. Piper Sandler upped their price objective on Travelers Companies from $329.00 to $340.00 and gave the stock an "overweight" rating in a research note on Tuesday. Keefe, Bruyette & Woods boosted their price target on shares of Travelers Companies from $340.00 to $342.00 and gave the company an "outperform" rating in a report on Monday, April 20th. Brean Capital assumed coverage on shares of Travelers Companies in a report on Thursday, March 12th. They set a "neutral" rating on the stock. Evercore reiterated an "outperform" rating on shares of Travelers Companies in a research note on Friday, April 17th. Finally, Cantor Fitzgerald lifted their target price on shares of Travelers Companies from $316.00 to $319.00 and gave the company an "overweight" rating in a research report on Monday, February 2nd. Two analysts have rated the stock with a Strong Buy rating, six have given a Buy rating, eleven have assigned a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, Travelers Companies presently has a consensus rating of "Hold" and a consensus price target of $311.47.

Insider Buying and Selling

In other Travelers Companies news, EVP Jeffrey P. Klenk sold 6,414 shares of the firm's stock in a transaction that occurred on Monday, April 20th. The shares were sold at an average price of $305.06, for a total value of $1,956,654.84. Following the sale, the executive vice president owned 6,075 shares in the company, valued at approximately $1,853,239.50. This trade represents a 51.36% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Vice Chairman William H. Heyman sold 1,557 shares of Travelers Companies stock in a transaction dated Tuesday, April 28th. The stock was sold at an average price of $310.64, for a total value of $483,666.48. Following the transaction, the insider directly owned 259,590 shares in the company, valued at approximately $80,639,037.60. The trade was a 0.60% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 27,573 shares of company stock worth $8,427,646 over the last 90 days. 1.39% of the stock is currently owned by corporate insiders.

Travelers Companies Trading Down 0.4%

NYSE TRV opened at $305.21 on Wednesday. The Travelers Companies, Inc. has a one year low of $249.19 and a one year high of $313.12. 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's fifty day moving average is $299.60 and its two-hundred day moving average is $293.46. The firm has a market cap of $64.90 billion, a PE ratio of 9.08, a P/E/G ratio of 2.76 and a beta of 0.50.

Travelers Companies (NYSE:TRV - Get Free Report) last announced its quarterly earnings data 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 firm 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%.Travelers Companies's quarterly revenue was down 1.7% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.91 earnings per share. Analysts expect that The Travelers Companies, Inc. will post 28.03 earnings per share for the current year.

Travelers Companies Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Wednesday, June 10th will be paid a $1.25 dividend. The ex-dividend date of this dividend is Wednesday, June 10th. This represents a $5.00 annualized dividend and a dividend yield of 1.6%. This is an increase from Travelers Companies's previous quarterly dividend of $1.10. Travelers Companies's dividend payout ratio is presently 14.88%.

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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