Korea Investment CORP Sells 27,264 Shares of The Travelers Companies, Inc. $TRV

Key Points

• Korea Investment CORP reduced its stake in The Travelers Companies by 16.4% in Q1, selling 27,264 shares and retaining 138,667 shares valued at approximately $36.67 million.
• The company reported a substantial earnings beat with $6.51 EPS against an expected $3.52, alongside revenue of $11.54 billion for the quarter.
• A quarterly dividend of $1.10 per share has been announced, reflecting a 1.6% yield, payable on September 30 to shareholders of record on September 10.

Korea Investment CORP decreased its holdings in shares of The Travelers Companies, Inc. (NYSE:TRV - Free Report) by 16.4% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 138,667 shares of the insurance provider's stock after selling 27,264 shares during the period. Korea Investment CORP owned 0.06% of Travelers Companies worth $36,672,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Cornerstone Planning Group LLC boosted its position in shares of Travelers Companies by 700.0% during the 1st 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 in the last quarter. Putney Financial Group LLC bought a new position in Travelers Companies in the fourth quarter worth approximately $26,000. Ameriflex Group Inc. bought a new position in Travelers Companies in the fourth quarter worth approximately $26,000. Greykasell Wealth Strategies Inc. bought a new position in Travelers Companies in the first quarter worth approximately $26,000. Finally, Kapitalo Investimentos Ltda bought a new position in Travelers Companies in the fourth quarter worth approximately $30,000. Institutional investors own 82.45% of the company's stock.

Travelers Companies Stock Up 0.5%

Shares of Travelers Companies stock traded up $1.4190 on Friday, hitting $276.3390. The company had a trading volume of 1,457,579 shares, compared to its average volume of 1,199,581. The stock has a market capitalization of $62.21 billion, a price-to-earnings ratio of 12.22, a P/E/G ratio of 3.16 and a beta of 0.51. The Travelers Companies, Inc. has a 1 year low of $218.57 and a 1 year high of $279.04. The stock has a 50 day moving average of $263.18 and a 200-day moving average of $260.16. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.33 and a current ratio of 0.33.

Travelers Companies (NYSE:TRV - Get Free Report) last issued its quarterly earnings results on Thursday, July 17th. The insurance provider reported $6.51 EPS for the quarter, beating analysts' consensus estimates of $3.52 by $2.99. The company had revenue of $11.54 billion during 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% on a year-over-year basis. During the same period last year, the business posted $2.51 earnings per share. As a group, sell-side analysts forecast that The Travelers Companies, Inc. will post 17.02 earnings per share for the current year.

Travelers Companies Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Wednesday, September 10th will be given a dividend of $1.10 per share. This represents a $4.40 dividend on an annualized basis and a dividend yield of 1.6%. The ex-dividend date of this dividend is Wednesday, September 10th. Travelers Companies's dividend payout ratio (DPR) is presently 19.46%.

Insider Activity at Travelers Companies

In other Travelers Companies news, CFO Daniel S. Frey sold 20,286 shares of the firm's stock in a transaction on 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 directly owned 26,932 shares of the company's stock, valued at $7,365,363.36. This trade represents a 42.96% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Vice Chairman William H. Heyman sold 2,000 shares of the firm's stock in a transaction on Thursday, May 29th. The stock was sold at an average price of $274.50, for a total value of $549,000.00. Following the completion of the sale, the insider directly owned 255,086 shares of the company's stock, valued at $70,021,107. This represents a 0.78% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 175,374 shares of company stock valued at $47,929,912 in the last ninety days. Insiders own 1.46% of the company's stock.

Analyst Upgrades and Downgrades

TRV has been the topic of several recent research reports. Cantor Fitzgerald upgraded Travelers Companies to a "strong-buy" rating in a report on Wednesday, August 13th. Wall Street Zen lowered Travelers Companies from a "buy" rating to a "hold" rating in a report on Saturday, August 9th. Keefe, Bruyette & Woods increased their price target on Travelers Companies from $304.00 to $316.00 and gave the stock an "outperform" rating in a report on Friday, July 18th. Citigroup initiated coverage on Travelers Companies in a report on Wednesday, August 13th. They issued a "neutral" rating and a $291.00 price target on the stock. Finally, UBS Group increased their price objective on Travelers Companies from $275.00 to $284.00 and gave the stock a "neutral" rating in a research note on Monday, July 21st. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, ten have assigned a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $284.56.

About Travelers Companies

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.