Arrowstreet Capital Limited Partnership Increases Stock Position in The Travelers Companies, Inc. $TRV

Key Points

• Arrowstreet Capital increased its Travelers Companies stake by 42.6% in the fourth quarter, buying 229,729 additional shares and bringing its total holding to 769,233 shares worth about $223.1 million.
• Travelers’ recent earnings beat expectations, with Q1 EPS of $7.71 versus $6.80 estimated and revenue of $11.92 billion versus $11.11 billion expected, while analysts currently see a consensus rating of “Hold.”
• The company raised its quarterly dividend to $1.25 per share from $1.10, and the stock was trading near $304.62 with a 52-week high of $313.12.

Arrowstreet Capital Limited Partnership grew its stake in shares of The Travelers Companies, Inc. (NYSE:TRV - Free Report) by 42.6% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 769,233 shares of the insurance provider's stock after acquiring an additional 229,729 shares during the quarter. Arrowstreet Capital Limited Partnership owned about 0.36% of Travelers Companies worth $223,124,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Osterweis Capital Management Inc. boosted its holdings in shares of Travelers Companies by 1,820.0% during the 2nd quarter. Osterweis Capital Management Inc. now owns 96 shares of the insurance provider's stock valued at $26,000 after acquiring an additional 91 shares during the last quarter. Kohmann Bosshard Financial Services LLC bought a new position in shares of Travelers Companies in the 4th quarter worth approximately $28,000. Entrust Financial LLC bought a new position in shares of Travelers Companies in the 4th quarter worth approximately $31,000. Wilkerson Advisory Group LLC bought a new position in shares of Travelers Companies in the 4th quarter worth approximately $35,000. Finally, Navalign LLC bought a new position in shares of Travelers Companies in the 4th quarter worth approximately $35,000. Hedge funds and other institutional investors own 82.45% of the company's stock.

Insider Activity at Travelers Companies

In other Travelers Companies news, insider Avrohom J. Kess sold 6,735 shares of Travelers Companies stock in a transaction on Tuesday, April 28th. The shares were sold at an average price of $308.78, for a total transaction of $2,079,633.30. Following the completion of 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Diane Kurtzman sold 2,867 shares of Travelers Companies stock in a transaction on Monday, April 20th. The stock was sold at an average price of $303.45, for a total transaction of $869,991.15. Following the transaction, the executive vice president directly owned 5,298 shares of the company's stock, valued at $1,607,678.10. The trade was a 35.11% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 37,573 shares of company stock valued at $11,504,146 over the last three months. Corporate insiders own 1.39% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on TRV. Piper Sandler increased their price objective on shares of Travelers Companies from $329.00 to $340.00 and gave the stock an "overweight" rating in a research note on Tuesday, May 26th. Bank of America decreased their target price on shares of Travelers Companies from $259.00 to $257.00 and set an "underperform" rating on the stock in a research note on Tuesday, April 14th. Evercore restated an "outperform" rating on shares of Travelers Companies in a research note on Friday, April 17th. BMO Capital Markets raised their target price on shares of Travelers Companies from $297.00 to $314.00 and gave the stock an "outperform" rating in a research note on Monday, April 20th. Finally, Weiss Ratings restated a "buy (a-)" rating on shares of Travelers Companies in a research note on Friday, May 8th. Two investment 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's stock. According to data from MarketBeat, Travelers Companies currently has a consensus rating of "Hold" and an average target price of $309.07.

Travelers Companies Trading Up 0.1%

TRV stock opened at $304.62 on Monday. The firm has a fifty day moving average price of $300.22 and a 200 day moving average price of $294.54. The Travelers Companies, Inc. has a fifty-two week low of $249.19 and a fifty-two week 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 has a market cap of $64.78 billion, a PE ratio of 9.06, a price-to-earnings-growth ratio of 2.75 and a beta of 0.48.

Travelers Companies (NYSE:TRV - Get Free Report) last posted its earnings results 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. The firm had revenue of $11.92 billion during the quarter, compared to analyst estimates of $11.11 billion. Travelers Companies had a net margin of 15.54% and a return on equity of 24.06%. Travelers Companies's revenue for the quarter was down 1.7% compared to the same quarter last year. During the same period last year, the firm posted $1.91 earnings per share. Sell-side analysts anticipate that The Travelers Companies, Inc. will post 28 earnings per share for the current fiscal year.

Travelers Companies Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Wednesday, June 10th will be paid 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 annualized dividend and a yield of 1.6%. Travelers Companies's payout ratio is presently 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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