Mitsubishi UFJ Asset Management Co. Ltd. Purchases 44,354 Shares of The Travelers Companies, Inc. (NYSE:TRV)

Key Points

• Mitsubishi UFJ Asset Management has increased its stake in The Travelers Companies by 9.3%, owning approximately 521,345 shares valued at $137.88 million as of the end of the most recent reporting period.
• Travelers Companies reported earnings per share of $6.51 for the last quarter, significantly beating analysts' expectations of $3.52, alongside a revenue of $11.54 billion.
• The firm declared a quarterly dividend of $1.10 per share, reflecting an annualized dividend yield of 1.7%, with shareholders of record set to receive it on September 30th.

Mitsubishi UFJ Asset Management Co. Ltd. increased its position in shares of The Travelers Companies, Inc. (NYSE:TRV - Free Report) by 9.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 521,345 shares of the insurance provider's stock after purchasing an additional 44,354 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. owned approximately 0.23% of Travelers Companies worth $137,875,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in the company. PFG Advisors increased its stake in Travelers Companies by 108.8% during the 1st quarter. PFG Advisors now owns 4,255 shares of the insurance provider's stock worth $1,125,000 after acquiring an additional 2,217 shares during the period. Greatmark Investment Partners Inc. increased its stake in Travelers Companies by 3.0% during the 1st quarter. Greatmark Investment Partners Inc. now owns 60,953 shares of the insurance provider's stock worth $16,120,000 after acquiring an additional 1,772 shares during the period. Portside Wealth Group LLC bought a new position in Travelers Companies during the 1st quarter worth $208,000. Concurrent Investment Advisors LLC increased its stake in Travelers Companies by 47.3% during the 1st quarter. Concurrent Investment Advisors LLC now owns 5,305 shares of the insurance provider's stock worth $1,403,000 after acquiring an additional 1,703 shares during the period. Finally, Alpha Cubed Investments LLC increased its stake in Travelers Companies by 200.2% during the 1st quarter. Alpha Cubed Investments LLC now owns 3,290 shares of the insurance provider's stock worth $870,000 after acquiring an additional 2,194 shares during the period. 82.45% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have commented on TRV shares. Jefferies Financial Group raised their price objective on Travelers Companies from $265.00 to $270.00 and gave the stock a "hold" rating in a research note on Friday, April 11th. UBS Group lifted 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. Keefe, Bruyette & Woods lifted their price target on Travelers Companies from $304.00 to $316.00 and gave the company an "outperform" rating in a research note on Friday, July 18th. Barclays lowered Travelers Companies from an "overweight" rating to an "equal weight" rating and decreased their price target for the company from $280.00 to $274.00 in a research note on Monday, July 7th. Finally, Wells Fargo & Company lifted their price target on Travelers Companies from $264.00 to $275.00 and gave the company an "equal weight" rating in a research note on Friday, July 18th. Two analysts have rated the stock with a sell rating, eleven have assigned a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $282.69.

Travelers Companies Trading Down 0.1%

TRV traded down $0.36 during midday trading on Friday, hitting $265.00. 920,467 shares of the company were exchanged, compared to its average volume of 1,321,157. The firm has a market capitalization of $59.66 billion, a P/E ratio of 11.72, a P/E/G ratio of 3.07 and a beta of 0.51. The Travelers Companies, Inc. has a 1-year low of $208.63 and a 1-year high of $277.83. The firm's 50 day moving average price is $263.16 and its 200-day moving average price is $258.67. The company has a quick ratio of 0.33, a current ratio of 0.33 and a debt-to-equity ratio of 0.27.

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 firm 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%. The business's quarterly 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, equities analysts forecast that The Travelers Companies, Inc. will post 17.02 EPS for the current fiscal year.

Travelers Companies Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Wednesday, September 10th will be paid a $1.10 dividend. This represents a $4.40 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date of this dividend is Wednesday, September 10th. Travelers Companies's payout ratio is currently 19.46%.

Insider Buying and Selling

In other news, CEO Alan D. Schnitzer sold 35,456 shares of the business's stock in a transaction dated Thursday, May 29th. The stock was sold at an average price of $273.78, for a total value of $9,707,143.68. Following the transaction, the chief executive officer directly owned 262,329 shares of the company's stock, valued at $71,820,433.62. The trade was a 11.91% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Avrohom J. Kess sold 23,434 shares of the business's stock in a transaction dated Thursday, May 29th. The shares were sold at an average price of $273.93, for a total value of $6,419,275.62. Following the completion of the transaction, the insider directly owned 48,387 shares in the company, valued at $13,254,650.91. This represents a 32.63% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 175,374 shares of company stock worth $47,929,912 over the last three months. Insiders own 1.46% of the company's stock.

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.