Banque Cantonale Vaudoise Reduces Stock Holdings in The Travelers Companies, Inc. $TRV

Key Points

• Banque Cantonale Vaudoise reduced its stake in Travelers Companies by 34.2% in the first quarter, selling 6,280 shares and leaving it with 12,107 shares worth about $3.53 million.
• Travelers posted strong quarterly results, with EPS of $7.71 and revenue of $11.92 billion, both above Wall Street expectations.
• The company also raised its quarterly dividend to $1.25 per share from $1.10, while analysts currently have a consensus rating of Hold on the stock.

Banque Cantonale Vaudoise cut its holdings in shares of The Travelers Companies, Inc. (NYSE:TRV - Free Report) by 34.2% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 12,107 shares of the insurance provider's stock after selling 6,280 shares during the period. Banque Cantonale Vaudoise's holdings in Travelers Companies were worth $3,531,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also modified their holdings of the stock. Vanguard Group Inc. lifted its holdings in Travelers Companies by 0.5% in the fourth quarter. Vanguard Group Inc. now owns 22,109,933 shares of the insurance provider's stock valued at $6,413,207,000 after acquiring an additional 110,311 shares during the period. State Street Corp grew its position in Travelers Companies by 3.1% during the fourth quarter. State Street Corp now owns 16,000,457 shares of the insurance provider's stock valued at $4,641,093,000 after buying an additional 486,861 shares during the period. Morgan Stanley increased its holdings in Travelers Companies by 2.3% in the fourth quarter. Morgan Stanley now owns 3,793,750 shares of the insurance provider's stock valued at $1,100,416,000 after buying an additional 85,298 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in Travelers Companies by 2.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 3,361,112 shares of the insurance provider's stock valued at $974,993,000 after buying an additional 81,497 shares in the last quarter. Finally, Norges Bank acquired a new position in shares of Travelers Companies in the fourth quarter worth about $723,339,000. Hedge funds and other institutional investors own 82.45% of the company's stock.

Insiders Place Their Bets

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 value of $2,079,633.30. Following the completion of the sale, the insider 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 transaction 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 that occurred on 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 owned 259,590 shares in the company, valued at approximately $80,639,037.60. The trade was a 0.60% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 37,573 shares of company stock worth $11,504,146. 1.39% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on TRV shares. Brean Capital started coverage on Travelers Companies in a research report on Thursday, March 12th. They set a "neutral" rating on the stock. Roth Mkm reaffirmed a "buy" rating on shares of Travelers Companies in a report on Monday, April 20th. BMO Capital Markets raised their price objective on Travelers Companies from $297.00 to $314.00 and gave the company an "outperform" rating in a report on Monday, April 20th. Piper Sandler upped their target price on Travelers Companies from $329.00 to $340.00 and gave the stock an "overweight" rating in a research note on Tuesday, May 26th. Finally, JPMorgan Chase & Co. raised shares of Travelers Companies from an "underweight" rating to a "neutral" rating and lifted their price target for the company from $316.00 to $322.00 in a research note on Tuesday, May 26th. Two research analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating, ten have given a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat, Travelers Companies presently has a consensus rating of "Hold" and an average target price of $309.07.

Travelers Companies Trading Down 0.7%

Shares of TRV opened at $318.46 on Friday. The Travelers Companies, Inc. has a 52-week low of $249.19 and a 52-week high of $325.89. The stock has a market cap of $67.72 billion, a PE ratio of 9.48, a price-to-earnings-growth ratio of 2.89 and a beta of 0.48. The firm's fifty day moving average is $302.68 and its two-hundred day moving average is $295.95. 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 earnings results on Thursday, April 16th. The insurance provider reported $7.71 EPS for the quarter, beating analysts' consensus estimates of $6.80 by $0.91. The business had revenue of $11.92 billion during the quarter, compared to analysts' expectations of $11.11 billion. Travelers Companies had a net margin of 15.54% and a return on equity of 24.06%. 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 earned $1.91 earnings per share. Research analysts forecast that The Travelers Companies, Inc. will post 28 earnings per share for the current fiscal year.

Travelers Companies Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Wednesday, June 10th will be issued a $1.25 dividend. This represents a $5.00 dividend on an annualized basis and a yield of 1.6%. The ex-dividend date is Wednesday, June 10th. This is a positive change from Travelers Companies's previous quarterly dividend of $1.10. Travelers Companies's payout ratio is currently 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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