Bleakley Financial Group LLC Makes New $3.07 Million Investment in The Travelers Companies, Inc. $TRV

Key Points

• Bleakley Financial Group opened a new position in Travelers Companies, buying 10,580 shares worth about $3.07 million in the fourth quarter.
• Travelers reported strong quarterly results, with EPS of $7.71 beating estimates and revenue of $11.92 billion topping expectations, even as revenue slipped 1.7% year over year.
• The company raised its quarterly dividend to $1.25 per share from $1.10, while analysts currently rate the stock a consensus Hold with an average target price of $311.47.

Bleakley Financial Group LLC bought a new position in shares of The Travelers Companies, Inc. (NYSE:TRV - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund bought 10,580 shares of the insurance provider's stock, valued at approximately $3,069,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Osterweis Capital Management Inc. boosted its position 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 acquired a new position in shares of Travelers Companies during the 4th quarter valued at about $28,000. Entrust Financial LLC acquired a new position in shares of Travelers Companies during the 4th quarter valued at about $31,000. Navalign LLC acquired a new position in shares of Travelers Companies during the 4th quarter valued at about $35,000. Finally, eCIO Inc. acquired a new position in shares of Travelers Companies during the 4th quarter valued at about $37,000. Institutional investors and hedge funds own 82.45% of the company's stock.

Travelers Companies Stock Down 1.6%

Shares of NYSE:TRV opened at $299.97 on Thursday. The company has a debt-to-equity ratio of 0.29, a current ratio of 0.35 and a quick ratio of 0.35. The firm has a market capitalization of $63.79 billion, a PE ratio of 8.93, a price-to-earnings-growth ratio of 2.75 and a beta of 0.50. The firm's 50-day moving average is $299.51 and its two-hundred day moving average is $293.63. The Travelers Companies, Inc. has a 1 year low of $249.19 and a 1 year high of $313.12.

Travelers Companies (NYSE:TRV - Get Free Report) last issued its quarterly earnings results on Thursday, April 16th. The insurance provider reported $7.71 earnings per share (EPS) 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 company had revenue of $11.92 billion for the quarter, compared to analyst estimates of $11.11 billion. During the same period in the prior year, the firm earned $1.91 earnings per share. The business's revenue for the quarter was down 1.7% compared to the same quarter last year. Analysts predict that The Travelers Companies, Inc. will post 28.03 EPS for the current year.

Travelers Companies Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Wednesday, June 10th will be paid a dividend of $1.25 per share. The ex-dividend date is Wednesday, June 10th. This is a positive change 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 currently 13.09%.

Analyst Upgrades and Downgrades

TRV has been the subject of several recent analyst reports. Cantor Fitzgerald raised their target price on Travelers Companies from $316.00 to $319.00 and gave the stock an "overweight" rating in a research note on Monday, February 2nd. Evercore reissued an "outperform" rating on shares of Travelers Companies in a research note on Friday, April 17th. Bank of America cut their target price on Travelers Companies from $259.00 to $257.00 and set an "underperform" rating for the company in a research note on Tuesday, April 14th. Wells Fargo & Company boosted their price objective 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. Finally, Weiss Ratings restated a "buy (a-)" rating on shares of Travelers Companies in a report on Friday, May 8th. Two analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating, eleven have assigned a Hold rating and two have issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $311.47.

Insider Activity

In related news, EVP Jeffrey P. Klenk sold 6,414 shares of the company's stock in a transaction that occurred 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 directly owned 6,075 shares in the company, valued at approximately $1,853,239.50. This represents a 51.36% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Avrohom J. Kess sold 6,735 shares of the company's stock in a transaction that occurred on Tuesday, April 28th. The stock was sold at an average price of $308.78, for a total transaction of $2,079,633.30. Following the sale, the insider owned 48,737 shares in the company, valued at $15,049,010.86. The trade was a 12.14% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 37,573 shares of company stock valued at $11,504,146. 1.39% of the stock is owned by corporate insiders.

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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