Cibc World Market Inc. Buys New Stake in The Travelers Companies, Inc. $TRV

Key Points

• CIBC World Market bought 12,488 shares of Travelers Companies during the second quarter, valued at approximately $4.1 million. Institutional investors collectively own 82.45% of the insurer.
• Travelers reported a strong quarter, posting $10.04 in EPS versus the $5.41 consensus estimate and revenue of $12.15 billion, above expectations.
• Analysts maintain a consensus “Hold” rating with a $354.26 price target, while insiders sold $19.6 million of stock over the past 90 days. The company also declared a quarterly dividend of $1.25, equivalent to a 1.4% yield.

Cibc World Market Inc. purchased a new position in shares of The Travelers Companies, Inc. (NYSE:TRV - Free Report) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 12,488 shares of the insurance provider's stock, valued at approximately $4,123,000.

Several other large investors also recently bought and sold shares of TRV. BlackRock Inc. acquired a new position in Travelers Companies during the second quarter worth approximately $6,915,909,000. State Street Corp boosted its holdings in shares of Travelers Companies by 3.1% in 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 acquiring an additional 486,861 shares during the period. Morgan Stanley grew its position in shares of Travelers Companies by 2.3% during the fourth quarter. Morgan Stanley now owns 3,793,750 shares of the insurance provider's stock worth $1,100,416,000 after acquiring an additional 85,298 shares during the last quarter. Dimensional Fund Advisors LP grew its position in shares of Travelers Companies by 3.7% during the first quarter. Dimensional Fund Advisors LP now owns 3,484,676 shares of the insurance provider's stock worth $1,016,433,000 after acquiring an additional 123,564 shares during the last quarter. Finally, Norges Bank acquired a new position in shares of Travelers Companies in the 4th quarter valued at $723,339,000. Institutional investors and hedge funds own 82.45% of the company's stock.

Insider Buying and Selling

In related news, CFO Daniel S. Frey sold 14,037 shares of the firm's stock in a transaction that occurred on Tuesday, July 21st. The shares were sold at an average price of $368.24, for a total value of $5,168,984.88. Following the sale, the chief financial officer directly owned 27,535 shares of the company's stock, valued at approximately $10,139,488.40. This trade represents a 33.77% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Daniel Tei-Hwa Yin sold 7,153 shares of the business's stock in a transaction that occurred on Friday, July 24th. The shares were sold at an average price of $387.00, for a total transaction of $2,768,211.00. Following the completion of the sale, the executive vice president owned 68,834 shares of the company's stock, valued at approximately $26,638,758. The trade was a 9.41% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 52,667 shares of company stock worth $19,611,829 over the last ninety days. Insiders own 1.39% of the company's stock.

Analyst Ratings Changes

TRV has been the subject of a number of recent research reports. JPMorgan Chase & Co. upgraded shares of Travelers Companies from an "underweight" rating to a "neutral" rating and increased their price target for the stock from $316.00 to $322.00 in a research note on Tuesday, May 26th. Evercore set a $329.00 target price on shares of Travelers Companies and gave the company an "in-line" rating in a report on Friday, July 10th. Mizuho increased their target price on shares of Travelers Companies from $324.00 to $343.00 and gave the stock a "neutral" rating in a research note on Friday, July 24th. Barclays raised their price target on Travelers Companies from $295.00 to $318.00 and gave the stock an "underweight" rating in a report on Tuesday, July 21st. Finally, Seaport Research Partners set a $322.00 target price on Travelers Companies in a research note on Tuesday, May 26th. Four analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating, thirteen have given a Hold rating and five have given a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $354.26.

Travelers Companies Stock Down 0.3%

Shares of NYSE:TRV opened at $369.40 on Wednesday. The company has a quick ratio of 0.33, a current ratio of 0.33 and a debt-to-equity ratio of 0.27. The Travelers Companies, Inc. has a 52-week low of $252.26 and a 52-week high of $398.70. The stock's fifty day simple moving average is $354.79 and its 200-day simple moving average is $319.45. The company has a market capitalization of $77.05 billion, a P/E ratio of 9.89, a P/E/G ratio of 3.52 and a beta of 0.45.

Travelers Companies (NYSE:TRV - Get Free Report) last announced its quarterly earnings data on Friday, July 17th. The insurance provider reported $10.04 EPS for the quarter, beating analysts' consensus estimates of $5.41 by $4.63. The business had revenue of $12.15 billion during the quarter, compared to the consensus estimate of $11.26 billion. Travelers Companies had a return on equity of 25.41% and a net margin of 16.95%.The business's revenue for the quarter was up .3% on a year-over-year basis. During the same quarter in the previous year, the business earned $6.51 earnings per share. As a group, equities research analysts forecast that The Travelers Companies, Inc. will post 33.82 earnings per share for the current fiscal year.

Travelers Companies Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Thursday, September 10th will be issued a $1.25 dividend. The ex-dividend date is Thursday, September 10th. This represents a $5.00 annualized dividend and a yield of 1.4%. Travelers Companies's payout ratio is 13.39%.

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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