Martingale Asset Management L P Purchases 4,984 Shares of The Travelers Companies, Inc. $TRV

Key Points

• Martingale Asset Management increased its stake in Travelers Companies by 5.4% in the fourth quarter, buying 4,984 additional shares and bringing its total holding to 97,439 shares valued at about $28.3 million.
• Travelers reported strong quarterly earnings, posting $7.71 per share versus estimates of $6.80 and revenue of $11.92 billion, both ahead of expectations. Analysts still see the company earning about 28 EPS for the current fiscal year.
• The company raised its quarterly dividend to $1.25 per share from $1.10, or $5.00 annually, representing a 1.6% yield. At the same time, several executives sold shares recently, though institutional investors continue to own 82.45% of the stock.

Martingale Asset Management L P boosted its position in The Travelers Companies, Inc. (NYSE:TRV - Free Report) by 5.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 97,439 shares of the insurance provider's stock after acquiring an additional 4,984 shares during the quarter. Martingale Asset Management L P's holdings in Travelers Companies were worth $28,263,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Sumitomo Life Insurance Co. lifted its holdings in Travelers Companies by 0.7% in the fourth quarter. Sumitomo Life Insurance Co. now owns 5,236 shares of the insurance provider's stock worth $1,519,000 after buying an additional 35 shares during the period. Chicago Partners Investment Group LLC lifted its holdings in 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 worth $541,000 after buying an additional 36 shares during the period. 111 Capital lifted its holdings in Travelers Companies by 3.0% in the fourth quarter. 111 Capital now owns 1,223 shares of the insurance provider's stock worth $355,000 after buying an additional 36 shares during the period. Greenleaf Trust lifted its holdings in Travelers Companies by 0.4% in the fourth quarter. Greenleaf Trust now owns 10,036 shares of the insurance provider's stock worth $2,911,000 after buying an additional 37 shares during the period. Finally, Allegiance Financial Group Advisory Services LLC lifted its holdings in Travelers Companies by 3.4% in the fourth quarter. Allegiance Financial Group Advisory Services LLC now owns 1,130 shares of the insurance provider's stock worth $328,000 after buying an additional 37 shares during the period. Institutional investors own 82.45% of the company's stock.

Travelers Companies Price Performance

Shares of NYSE TRV opened at $304.62 on Friday. The Travelers Companies, Inc. has a twelve month low of $249.19 and a twelve month high of $313.12. The firm has a market cap of $64.78 billion, a P/E ratio of 9.06, a PEG ratio of 2.74 and a beta of 0.48. The company has a 50 day moving average of $300.22 and a 200 day moving average of $294.52. The company has a quick ratio of 0.35, a current ratio of 0.35 and a debt-to-equity ratio of 0.29.

Travelers Companies (NYSE:TRV - Get Free Report) last announced its quarterly earnings data on Thursday, April 16th. The insurance provider reported $7.71 earnings per share for the quarter, topping analysts' consensus estimates of $6.80 by $0.91. Travelers Companies had a net margin of 15.54% and a return on equity of 24.06%. The company had revenue of $11.92 billion during the quarter, compared to analyst estimates of $11.11 billion. During the same period in the previous year, the business earned $1.91 EPS. The firm's revenue for the quarter was down 1.7% on a year-over-year basis. As a group, research analysts expect that The Travelers Companies, Inc. will post 28 EPS 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. Investors of record on Wednesday, June 10th will be issued a $1.25 dividend. This represents a $5.00 dividend on an annualized basis and a yield of 1.6%. The ex-dividend date is Wednesday, June 10th. This is an increase from Travelers Companies's previous quarterly dividend of $1.10. Travelers Companies's dividend payout ratio (DPR) is presently 14.88%.

Insiders Place Their Bets

In other Travelers Companies news, EVP Diane Kurtzman sold 2,867 shares of Travelers Companies stock in a transaction that occurred on Monday, April 20th. The shares were sold at an average price of $303.45, for a total value of $869,991.15. Following the completion of the sale, the executive vice president owned 5,298 shares of the company's stock, valued at approximately $1,607,678.10. The trade was a 35.11% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Jeffrey P. Klenk sold 6,414 shares of Travelers Companies stock in a transaction that occurred on Monday, April 20th. The stock was sold at an average price of $305.06, for a total transaction of $1,956,654.84. Following the completion of the sale, the executive vice president directly owned 6,075 shares of the company's stock, valued at approximately $1,853,239.50. This trade represents a 51.36% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 37,573 shares of company stock worth $11,504,146 in the last 90 days. Insiders own 1.39% of the company's stock.

Analysts Set New Price Targets

Several analysts have commented on TRV shares. Weiss Ratings restated a "buy (a-)" rating on shares of Travelers Companies in a report on Friday, May 8th. Brean Capital assumed coverage on shares of Travelers Companies in a report on Thursday, March 12th. They set a "neutral" rating for the company. Roth Mkm reiterated a "buy" rating on shares of Travelers Companies in a report on Monday, April 20th. Piper Sandler lifted their target price on shares of Travelers Companies from $329.00 to $340.00 and gave the company an "overweight" rating in a report on Tuesday, May 26th. Finally, Keefe, Bruyette & Woods lifted their target price on shares of Travelers Companies from $340.00 to $342.00 and gave the company an "outperform" rating in a report on Monday, April 20th. Two analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating, ten have given a Hold rating and three have issued a Sell rating to the company's stock. Based on data from MarketBeat, Travelers Companies currently has a consensus rating of "Hold" and a consensus target price of $309.07.

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.