CIBC Asset Management Inc Increases Stake in The Travelers Companies, Inc. $TRV

Key Points

• CIBC Asset Management boosted its stake in Travelers Companies by 31% in the fourth quarter, adding 21,466 shares to bring its total to 90,747 shares valued at about $26.3 million.
• Travelers reported strong quarterly results, with EPS of $7.71 beating estimates and revenue of $11.92 billion topping expectations, while also raising its quarterly dividend to $1.25 per share.
• Analyst sentiment remains mixed but generally constructive: several firms reiterated outperform/buy ratings and price targets were lifted, though MarketBeat’s consensus rating is still Hold with an average target price of $311.47.

CIBC Asset Management Inc increased its holdings in The Travelers Companies, Inc. (NYSE:TRV - Free Report) by 31.0% in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 90,747 shares of the insurance provider's stock after purchasing an additional 21,466 shares during the period. CIBC Asset Management Inc's holdings in Travelers Companies were worth $26,322,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. Marble Wealth LLC purchased a new stake in Travelers Companies during the 4th quarter valued at $1,018,000. Mccarter Private Wealth Services LLC boosted its position in Travelers Companies by 3.2% during the 4th quarter. Mccarter Private Wealth Services LLC now owns 19,350 shares of the insurance provider's stock valued at $5,613,000 after buying an additional 607 shares during the period. Westpac Banking Corp boosted its position in Travelers Companies by 16.6% during the 4th quarter. Westpac Banking Corp now owns 1,319 shares of the insurance provider's stock valued at $383,000 after buying an additional 188 shares during the period. Bridges Investment Management Inc. boosted its position in Travelers Companies by 23.2% during the 4th quarter. Bridges Investment Management Inc. now owns 5,403 shares of the insurance provider's stock valued at $1,567,000 after buying an additional 1,016 shares during the period. Finally, Natixis Advisors LLC boosted its position in Travelers Companies by 4.7% during the 4th quarter. Natixis Advisors LLC now owns 140,146 shares of the insurance provider's stock valued at $40,651,000 after buying an additional 6,266 shares during the period. Hedge funds and other institutional investors own 82.45% of the company's stock.

Analyst Upgrades and Downgrades

TRV has been the subject of several analyst reports. Evercore reissued an "outperform" rating on shares of Travelers Companies in a research report on Friday, April 17th. Keefe, Bruyette & Woods increased their price target on shares of Travelers Companies from $340.00 to $342.00 and gave the company an "outperform" rating in a research report on Monday, April 20th. BMO Capital Markets increased their price target on shares of Travelers Companies from $297.00 to $314.00 and gave the company an "outperform" rating in a research report on Monday, April 20th. Roth Mkm reissued a "buy" rating on shares of Travelers Companies in a research report on Monday, April 20th. Finally, Brean Capital initiated coverage on shares of Travelers Companies in a research report on Thursday, March 12th. They set a "neutral" rating for the company. Two research analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating, eleven have issued a Hold rating and two have given a Sell rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $311.47.

Travelers Companies Stock Down 0.6%

Shares of Travelers Companies stock opened at $289.98 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 company has a 50-day moving average of $298.78 and a 200 day moving average of $293.89. The firm has a market cap of $61.66 billion, a price-to-earnings ratio of 8.63, a PEG ratio of 2.63 and a beta of 0.48. 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 the consensus estimate of $6.80 by $0.91. The company 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 quarterly revenue was down 1.7% compared to the same quarter last year. During the same period last year, the business earned $1.91 EPS. As a group, 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 is Wednesday, June 10th. This represents a $5.00 dividend on an annualized basis and a yield of 1.7%. This is an increase from Travelers Companies's previous quarterly dividend of $1.10. Travelers Companies's dividend payout ratio (DPR) is 13.09%.

Insider Buying and Selling at Travelers Companies

In other Travelers Companies news, Vice Chairman William H. Heyman sold 1,557 shares of the firm's stock in a transaction dated Tuesday, April 28th. The shares were sold at an average price of $310.64, for a total transaction of $483,666.48. Following the completion of the sale, the insider directly owned 259,590 shares in the company, valued at approximately $80,639,037.60. This trade represents a 0.60% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Jeffrey P. Klenk sold 6,414 shares of the firm's stock in a transaction dated 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. This represents a 51.36% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 37,573 shares of company stock worth $11,504,146 in the last 90 days. Insiders own 1.39% of the company's stock.

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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