Arbejdsmarkedets Tillaegspension Takes $24.17 Million Position in The Travelers Companies, Inc. $TRV

Key Points

• Arbejdsmarkedets Tillaegspension opened a new position in Travelers Companies in the fourth quarter, buying 83,318 shares worth about $24.17 million.
• Travelers reported stronger-than-expected quarterly results, with EPS of $7.71 versus estimates of $6.80 and revenue of $11.92 billion, topping forecasts.
• The insurer boosted its quarterly dividend to $1.25 per share and has an active $5 billion share buyback program, while analysts currently hold a consensus rating of “Hold” on the stock.

Arbejdsmarkedets Tillaegspension bought a new stake in The Travelers Companies, Inc. (NYSE:TRV - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 83,318 shares of the insurance provider's stock, valued at approximately $24,167,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Cornerstone Wealth Management LLC lifted its position in shares of Travelers Companies by 17.9% in the fourth quarter. Cornerstone Wealth Management LLC now owns 1,479 shares of the insurance provider's stock valued at $429,000 after acquiring an additional 225 shares in the last quarter. Pinnacle Associates Ltd. lifted its position in Travelers Companies by 1.5% during the fourth quarter. Pinnacle Associates Ltd. now owns 21,228 shares of the insurance provider's stock worth $6,157,000 after buying an additional 310 shares in the last quarter. Allworth Financial LP lifted its position in Travelers Companies by 431.0% during the fourth quarter. Allworth Financial LP now owns 50,155 shares of the insurance provider's stock worth $14,548,000 after buying an additional 40,709 shares in the last quarter. Atria Investments Inc lifted its position in Travelers Companies by 4.8% during the fourth quarter. Atria Investments Inc now owns 19,256 shares of the insurance provider's stock worth $5,585,000 after buying an additional 881 shares in the last quarter. Finally, Navalign LLC purchased a new position in Travelers Companies during the fourth quarter worth approximately $35,000. Hedge funds and other institutional investors own 82.45% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on TRV shares. Barclays lifted their price objective on Travelers Companies from $312.00 to $331.00 and gave the stock an "equal weight" rating in a research report on Wednesday, April 8th. BMO Capital Markets lifted their price objective on Travelers Companies from $297.00 to $314.00 and gave the stock an "outperform" rating in a research report on Monday, April 20th. UBS Group reiterated a "neutral" rating on shares of Travelers Companies in a research report on Monday, February 2nd. Wells Fargo & Company lifted their price objective on Travelers Companies from $285.00 to $305.00 and gave the stock an "equal weight" rating in a research report on Thursday, April 9th. Finally, Weiss Ratings reiterated a "buy (a-)" rating on shares of Travelers Companies in a research report on Friday, May 8th. Two equities research analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating, ten have issued a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $309.13.

Travelers Companies Trading Up 1.1%

Shares of NYSE TRV opened at $298.32 on Friday. The Travelers Companies, Inc. has a twelve month low of $249.19 and a twelve month high of $313.12. The company has a current ratio of 0.35, a quick ratio of 0.35 and a debt-to-equity ratio of 0.29. The stock has a fifty day simple moving average of $299.39 and a 200-day simple moving average of $291.51. The stock has a market capitalization of $63.44 billion, a PE ratio of 8.88, a PEG ratio of 2.66 and a beta of 0.50.

Travelers Companies (NYSE:TRV - Get Free Report) last issued its quarterly earnings data on Thursday, April 16th. The insurance provider reported $7.71 earnings per share for the quarter, beating analysts' consensus estimates of $6.80 by $0.91. Travelers Companies had a return on equity of 24.06% and a net margin of 15.54%.The business had revenue of $11.92 billion during the quarter, compared to analysts' expectations of $11.11 billion. During the same period in the previous year, the firm posted $1.91 earnings per share. The company's revenue was down 1.7% on a year-over-year basis. On average, equities analysts forecast 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 is a boost 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 1.7%. Travelers Companies's payout ratio is presently 13.09%.

Travelers Companies announced that its Board of Directors has initiated a share buyback program on Wednesday, January 21st that allows the company to buyback $5.00 billion in shares. This buyback authorization allows the insurance provider to purchase up to 8.3% of its shares through open market purchases. Shares buyback programs are often a sign that the company's board of directors believes its shares are undervalued.

Insiders Place Their Bets

In related news, Vice Chairman William H. Heyman sold 1,557 shares of the business's stock in a transaction on Tuesday, April 28th. The stock was sold at an average price of $310.64, for a total transaction of $483,666.48. Following the completion of the transaction, the insider directly owned 259,590 shares of the company's stock, valued at $80,639,037.60. The trade was a 0.60% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Avrohom J. Kess sold 6,735 shares of the business's stock in a transaction on Tuesday, April 28th. The stock was sold at an average price of $308.78, for a total value of $2,079,633.30. Following the transaction, the insider directly owned 48,737 shares of the company's stock, valued at $15,049,010.86. The trade was a 12.14% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders sold 27,573 shares of company stock valued at $8,427,646. Insiders own 1.39% of the company's stock.

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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