Connor Clark & Lunn Investment Management Ltd. Purchases 36,593 Shares of The Travelers Companies, Inc. (NYSE:TRV)

Key Points

• Connor Clark & Lunn Investment Management Ltd. increased its stake in The Travelers Companies by 51.9%, acquiring an additional 36,593 shares to bring its total holdings to 107,059 shares valued at approximately $28.3 million.
• Travelers Companies reported a strong quarterly earnings result with $6.51 EPS, exceeding expectations by $2.99, and saw a revenue of $11.54 billion, up 7.4% year-over-year.
• The company declared a quarterly dividend of $1.10 per share, which will be paid on September 30th, providing a 1.7% yield based on an annualized dividend of $4.40.

Connor Clark & Lunn Investment Management Ltd. lifted its stake in The Travelers Companies, Inc. (NYSE:TRV - Free Report) by 51.9% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 107,059 shares of the insurance provider's stock after buying an additional 36,593 shares during the period. Connor Clark & Lunn Investment Management Ltd.'s holdings in Travelers Companies were worth $28,313,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of TRV. Cornerstone Planning Group LLC boosted its holdings in Travelers Companies by 700.0% in the first quarter. Cornerstone Planning Group LLC now owns 96 shares of the insurance provider's stock valued at $25,000 after purchasing an additional 84 shares during the last quarter. Putney Financial Group LLC bought a new position in Travelers Companies during the 4th quarter worth approximately $26,000. Ameriflex Group Inc. acquired a new stake in shares of Travelers Companies during the 4th quarter worth approximately $26,000. Greykasell Wealth Strategies Inc. acquired a new stake in shares of Travelers Companies during the 1st quarter worth approximately $26,000. Finally, Kapitalo Investimentos Ltda acquired a new stake in shares of Travelers Companies during the 4th quarter worth approximately $30,000. Hedge funds and other institutional investors own 82.45% of the company's stock.

Travelers Companies Price Performance

NYSE TRV traded down $1.05 during trading on Thursday, reaching $268.25. 712,982 shares of the company traded hands, compared to its average volume of 1,332,495. The company has a market cap of $60.39 billion, a price-to-earnings ratio of 11.88, a P/E/G ratio of 3.02 and a beta of 0.51. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.33 and a current ratio of 0.33. The Travelers Companies, Inc. has a 1-year low of $214.61 and a 1-year high of $277.83. The stock's 50 day moving average price is $262.63 and its two-hundred day moving average price is $259.05.

Travelers Companies (NYSE:TRV - Get Free Report) last announced its earnings results on Thursday, July 17th. The insurance provider reported $6.51 EPS for the quarter, topping the consensus estimate of $3.52 by $2.99. The business had revenue of $11.54 billion for the quarter, compared to the consensus estimate of $11.02 billion. Travelers Companies had a return on equity of 18.68% and a net margin of 10.97%. Travelers Companies's revenue was up 7.4% compared to the same quarter last year. During the same period in the previous year, the business earned $2.51 EPS. As a group, analysts anticipate that The Travelers Companies, Inc. will post 17.02 EPS for the current year.

Travelers Companies Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Wednesday, September 10th will be given a $1.10 dividend. This represents a $4.40 annualized dividend and a yield of 1.6%. The ex-dividend date is Wednesday, September 10th. Travelers Companies's payout ratio is 19.46%.

Insider Transactions at Travelers Companies

In related news, CFO Daniel S. Frey sold 20,286 shares of the company's stock in a transaction dated Thursday, May 29th. The stock was sold at an average price of $273.48, for a total value of $5,547,815.28. Following the completion of the sale, the chief financial officer owned 26,932 shares in the company, valued at approximately $7,365,363.36. This represents a 42.96% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Jeffrey P. Klenk sold 15,180 shares of the company's stock in a transaction on Thursday, May 29th. The shares were sold at an average price of $272.87, for a total transaction of $4,142,166.60. Following the completion of the sale, the executive vice president owned 6,075 shares of the company's stock, valued at approximately $1,657,685.25. This represents a 71.42% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 175,374 shares of company stock worth $47,929,912 over the last ninety days. 1.46% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several research firms recently commented on TRV. Citigroup began coverage on Travelers Companies in a research report on Wednesday. They issued a "neutral" rating and a $291.00 target price on the stock. UBS Group increased their price target on Travelers Companies from $275.00 to $284.00 and gave the company a "neutral" rating in a research note on Monday, July 21st. Wall Street Zen lowered Travelers Companies from a "buy" rating to a "hold" rating in a research note on Saturday, August 9th. Evercore ISI raised their price objective on Travelers Companies from $288.00 to $296.00 and gave the stock an "outperform" rating in a research note on Thursday, April 17th. Finally, Wells Fargo & Company raised their target price on Travelers Companies from $264.00 to $275.00 and gave the stock an "equal weight" rating in a research report on Friday, July 18th. Two research analysts have rated the stock with a sell rating, eleven have issued a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Travelers Companies presently has an average rating of "Hold" and a consensus target price of $284.56.

Travelers Companies Profile

The Travelers Companies, Inc, through its subsidiaries, provides a range of commercial and personal property, and casualty insurance products and services to businesses, government units, associations, and individuals in the United States and internationally. The company operates through three segments: Business Insurance, Bond & Specialty Insurance, and Personal Insurance.