Hsbc Holdings PLC Grows Stake in The Travelers Companies, Inc. $TRV

Key Points

• HSBC Holdings PLC increased its stake in Travelers Companies by 9.3% in the fourth quarter, buying 73,650 additional shares and bringing its total holding to 865,178 shares worth about $251.1 million.
• Travelers has seen broad institutional ownership remain high at 82.45%, while several other investors also made small additions to their positions during the quarter.
• The stock is trading near its 52-week high after strong earnings and a dividend increase: Travelers beat quarterly EPS estimates, raised its quarterly dividend to $1.25 per share, and analysts currently have a consensus rating of Hold.

Hsbc Holdings PLC raised its stake in shares of The Travelers Companies, Inc. (NYSE:TRV - Free Report) by 9.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 865,178 shares of the insurance provider's stock after purchasing an additional 73,650 shares during the period. Hsbc Holdings PLC owned 0.40% of Travelers Companies worth $251,117,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also modified their holdings of TRV. Cim LLC raised its holdings in Travelers Companies by 0.4% during the 4th quarter. Cim LLC now owns 8,145 shares of the insurance provider's stock valued at $2,363,000 after buying an additional 34 shares during the period. Haverford Trust Co increased its position in Travelers Companies by 0.7% during the fourth quarter. Haverford Trust Co now owns 5,210 shares of the insurance provider's stock valued at $1,511,000 after acquiring an additional 35 shares during the last quarter. Sumitomo Life Insurance Co. increased its position in Travelers Companies by 0.7% during the fourth quarter. Sumitomo Life Insurance Co. now owns 5,236 shares of the insurance provider's stock valued at $1,519,000 after acquiring an additional 35 shares during the last quarter. Chicago Partners Investment Group LLC raised its stake in shares of Travelers Companies by 1.9% in the fourth quarter. Chicago Partners Investment Group LLC now owns 1,949 shares of the insurance provider's stock valued at $541,000 after acquiring an additional 36 shares during the period. Finally, 111 Capital raised its stake in shares of Travelers Companies by 3.0% in the fourth quarter. 111 Capital now owns 1,223 shares of the insurance provider's stock valued at $355,000 after acquiring an additional 36 shares during the period. 82.45% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the stock. Seaport Research Partners set a $322.00 price target on shares of Travelers Companies in a research note on Tuesday, May 26th. Weiss Ratings reissued a "buy (a-)" rating on shares of Travelers Companies in a research report on Friday, May 8th. Barclays lowered Travelers Companies from an "equal weight" rating to an "underweight" rating and dropped their target price for the company from $331.00 to $295.00 in a research report on Friday, June 12th. JPMorgan Chase & Co. raised Travelers Companies from an "underweight" rating to a "neutral" rating and upped their target price for the company from $316.00 to $322.00 in a research note on Tuesday, May 26th. Finally, Brean Capital initiated coverage on Travelers Companies in a report on Thursday, March 12th. They issued a "neutral" rating on the stock. Two equities 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 issued a Sell rating to the company. According to data from MarketBeat, Travelers Companies has a consensus rating of "Hold" and an average target price of $309.07.

Travelers Companies Stock Performance

Travelers Companies stock opened at $341.65 on Friday. 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 company has a market capitalization of $72.65 billion, a PE ratio of 10.17, a P/E/G ratio of 3.02 and a beta of 0.46. The company has a 50 day moving average price of $305.97 and a 200-day moving average price of $297.78. The Travelers Companies, Inc. has a fifty-two week low of $249.19 and a fifty-two week high of $342.31.

Travelers Companies (NYSE:TRV - Get Free Report) last released its quarterly earnings data on Thursday, April 16th. The insurance provider reported $7.71 EPS for the quarter, topping the consensus estimate of $6.80 by $0.91. Travelers Companies had a return on equity of 24.06% and a net margin of 15.54%.The company had revenue of $11.92 billion for the quarter, compared to the consensus estimate of $11.11 billion. During the same period last year, the business posted $1.91 EPS. Travelers Companies's quarterly revenue was down 1.7% on a year-over-year basis. As a group, equities analysts forecast that The Travelers Companies, Inc. will post 28 earnings per share for the current year.

Travelers Companies Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Wednesday, June 10th were paid 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 annualized dividend and a dividend yield of 1.5%. The ex-dividend date was Wednesday, June 10th. Travelers Companies's payout ratio is 14.88%.

Insider Buying and Selling

In other news, insider Avrohom J. Kess sold 6,735 shares of the company's stock in a transaction that occurred on Tuesday, April 28th. The shares were sold at an average price of $308.78, for a total value of $2,079,633.30. Following the completion of the sale, the insider owned 48,737 shares of the company's stock, valued at approximately $15,049,010.86. This represents a 12.14% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Michael Frederick Klein sold 10,000 shares of Travelers Companies stock in a transaction on Tuesday, May 26th. The shares were sold at an average price of $307.65, for a total value of $3,076,500.00. Following the completion of the transaction, the executive vice president owned 45,125 shares in the company, valued at $13,882,706.25. This represents 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 over the last quarter. 1.39% of the stock is owned by company insiders.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.