Barclays PLC Cuts Position in The Travelers Companies, Inc. $TRV

Key Points

• Barclays PLC cut its TRV stake by 32.5% in the fourth quarter, selling 423,893 shares and leaving it with 878,468 shares valued at about $254.8 million. Other institutional investors also adjusted positions, and institutions now own 82.45% of Travelers stock.
• Travelers beat quarterly earnings expectations, reporting $7.71 EPS versus the $6.80 consensus and revenue of $11.92 billion. Despite the beat, revenue was still down 1.7% from the same quarter last year.
• The company raised its quarterly dividend to $1.25 per share from $1.10, bringing the annualized payout to $5.00 and a yield of about 1.6%. Meanwhile, analysts are mixed on the stock, with Barclays downgrading it to underweight and trimming its price target to $295.

Barclays PLC lowered its position in shares of The Travelers Companies, Inc. (NYSE:TRV - Free Report) by 32.5% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 878,468 shares of the insurance provider's stock after selling 423,893 shares during the period. Barclays PLC owned approximately 0.41% of Travelers Companies worth $254,808,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in TRV. Brighton Jones LLC raised its stake in shares of Travelers Companies by 13.4% during the fourth quarter. Brighton Jones LLC now owns 3,277 shares of the insurance provider's stock valued at $789,000 after purchasing an additional 387 shares during the period. Revolve Wealth Partners LLC purchased a new stake in shares of Travelers Companies during the fourth quarter valued at approximately $276,000. WINTON GROUP Ltd purchased a new stake in shares of Travelers Companies during the second quarter valued at approximately $382,000. CIBC Asset Management Inc raised its stake in shares of Travelers Companies by 13.9% during the second quarter. CIBC Asset Management Inc now owns 68,537 shares of the insurance provider's stock valued at $18,336,000 after purchasing an additional 8,383 shares during the period. Finally, Treasurer of the State of North Carolina raised its stake in shares of Travelers Companies by 2.0% during the second quarter. Treasurer of the State of North Carolina now owns 105,605 shares of the insurance provider's stock valued at $28,254,000 after purchasing an additional 2,117 shares during the period. Hedge funds and other institutional investors own 82.45% of the company's stock.

Travelers Companies Stock Up 0.1%

TRV stock opened at $304.62 on Monday. 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 company has a market capitalization of $64.78 billion, a P/E ratio of 9.06, a PEG ratio of 2.75 and a beta of 0.48. The firm has a 50 day simple moving average of $300.22 and a 200-day simple moving average of $294.54.

Travelers Companies (NYSE:TRV - Get Free Report) last released its quarterly 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. Travelers Companies had a net margin of 15.54% and a return on equity of 24.06%. The business had revenue of $11.92 billion during the quarter, compared to the consensus estimate of $11.11 billion. During the same quarter last year, the company earned $1.91 earnings per share. The business's quarterly revenue was down 1.7% compared to the same quarter last year. On average, equities research analysts predict that The Travelers Companies, Inc. will post 28 earnings per share for the current fiscal year.

Travelers Companies Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Wednesday, June 10th will be given a dividend of $1.25 per share. The ex-dividend date of this dividend is Wednesday, June 10th. This is an increase 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 1.6%. Travelers Companies's dividend payout ratio is 14.88%.

Insider Transactions at Travelers Companies

In other Travelers Companies news, EVP Diane Kurtzman sold 2,867 shares of the business's stock in a transaction on Monday, April 20th. The shares were sold at an average price of $303.45, for a total transaction of $869,991.15. Following the completion of the sale, the executive vice president owned 5,298 shares in the company, valued at $1,607,678.10. The trade was a 35.11% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Jeffrey P. Klenk sold 6,414 shares of the business's stock in a transaction 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 sale, the executive vice president owned 6,075 shares of the company's stock, valued at approximately $1,853,239.50. The trade was a 51.36% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 37,573 shares of company stock valued at $11,504,146 over the last quarter. Insiders own 1.39% of the company's stock.

Analyst Upgrades and Downgrades

TRV has been the topic of a number of analyst reports. Seaport Research Partners set a $322.00 price objective on shares of Travelers Companies in a research note on Tuesday, May 26th. Piper Sandler lifted their price objective on shares of Travelers Companies from $329.00 to $340.00 and gave the company an "overweight" rating in a research note on Tuesday, May 26th. Keefe, Bruyette & Woods lifted their price objective on shares of Travelers Companies from $340.00 to $342.00 and gave the company an "outperform" rating in a research note on Monday, April 20th. Barclays lowered shares of Travelers Companies from an "equal weight" rating to an "underweight" rating and dropped their price objective for the company from $331.00 to $295.00 in a research note on Friday. Finally, Evercore reissued an "outperform" rating on shares of Travelers Companies in a research report on Friday, April 17th. 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 assigned a Sell rating to the company. According to data from MarketBeat, the company has an average rating of "Hold" and an average target price of $309.07.

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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