BI Asset Management Fondsmaeglerselskab A S Reduces Stock Holdings in The Travelers Companies, Inc. $TRV

Key Points

• BI Asset Management cut its stake in Travelers Companies by 7.2% in the first quarter, selling 9,402 shares and leaving it with 120,385 shares valued at about $34.1 million.
• Travelers reported strong quarterly results, with EPS of $7.71 versus $6.80 expected and revenue of $11.92 billion, both topping analyst estimates.
• The insurer raised its quarterly dividend to $1.25 per share from $1.10, while analysts currently have a consensus rating of Hold with an average price target of $309.07.

BI Asset Management Fondsmaeglerselskab A S lowered its holdings in The Travelers Companies, Inc. (NYSE:TRV - Free Report) by 7.2% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 120,385 shares of the insurance provider's stock after selling 9,402 shares during the quarter. BI Asset Management Fondsmaeglerselskab A S owned 0.06% of Travelers Companies worth $34,054,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Hsbc Holdings PLC grew its position in Travelers Companies by 9.3% during the 4th quarter. Hsbc Holdings PLC now owns 865,178 shares of the insurance provider's stock worth $251,117,000 after purchasing an additional 73,650 shares during the period. Stance Capital LLC purchased a new position in shares of Travelers Companies during the 4th quarter valued at about $4,185,000. Cornerstone Planning LLC acquired a new position in shares of Travelers Companies in the 4th quarter valued at about $2,193,000. World Investment Advisors lifted its holdings in shares of Travelers Companies by 65.8% in the 4th quarter. World Investment Advisors now owns 4,588 shares of the insurance provider's stock valued at $1,331,000 after buying an additional 1,820 shares during the period. Finally, Nalls Sherbakoff Group LLC purchased a new stake in shares of Travelers Companies in the fourth quarter worth about $35,000. Hedge funds and other institutional investors own 82.45% of the company's stock.

Travelers Companies Trading Down 0.1%

Shares of Travelers Companies stock opened at $307.48 on Friday. The firm has a 50-day simple moving average of $301.35 and a two-hundred day simple moving average of $294.99. 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 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 market cap of $65.39 billion, a P/E ratio of 9.15, a price-to-earnings-growth ratio of 2.78 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 EPS 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 firm had revenue of $11.92 billion for the quarter, compared to analysts' expectations of $11.11 billion. During the same period last year, the firm earned $1.91 EPS. The company's quarterly revenue was down 1.7% on a year-over-year basis. As a group, equities analysts predict that The Travelers Companies, Inc. will post 28 earnings per share for the current fiscal year.

Travelers Companies Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Wednesday, June 10th will be given a dividend of $1.25 per share. 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 yield of 1.6%. The ex-dividend date is Wednesday, June 10th. Travelers Companies's dividend payout ratio (DPR) is currently 14.88%.

Insider Buying and Selling

In other news, Vice Chairman William H. Heyman sold 1,557 shares of the business's 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 completion of the sale, the insider directly owned 259,590 shares in the company, valued at $80,639,037.60. The trade was a 0.60% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Michael Frederick Klein sold 10,000 shares of the company's stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $307.65, for a total value of $3,076,500.00. Following the transaction, the executive vice president directly owned 45,125 shares of the company's stock, valued at approximately $13,882,706.25. The trade was a 18.14% 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 in the last 90 days. Corporate insiders own 1.39% of the company's stock.

Analyst Ratings Changes

Several research firms recently commented on TRV. Piper Sandler raised their target price on Travelers Companies from $329.00 to $340.00 and gave the stock an "overweight" rating in a report on Tuesday, May 26th. Evercore reissued an "outperform" rating on shares of Travelers Companies in a report on Friday, April 17th. Keefe, Bruyette & Woods upped their price objective on Travelers Companies from $340.00 to $342.00 and gave the stock an "outperform" rating in a research report on Monday, April 20th. Roth Mkm reaffirmed a "buy" rating on shares of Travelers Companies in a research note on Monday, April 20th. Finally, Wells Fargo & Company lifted their target price on shares of Travelers Companies from $285.00 to $305.00 and gave the company an "equal weight" rating in a report on Thursday, April 9th. Two research analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating, ten have assigned a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat, Travelers Companies has an average rating of "Hold" and a consensus price target of $309.07.

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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