Munich Reinsurance Co Stock Corp in Munich Purchases 12,869 Shares of The Travelers Companies, Inc. $TRV

Key Points

• Munich Re dramatically boosted its stake in Travelers, buying 12,869 shares (a 2,543.3% increase) to hold 13,375 shares worth about $3.91 million.
• Insiders have been selling: CEO Alan D. Schnitzer sold 55,733 shares for ~$16.42 million (reducing his stake 17.63%), and insiders sold 95,414 shares totaling ~$28.43 million in the past three months.
• Solid financials and shareholder returns: Travelers beat Q results with $7.71 EPS vs. $6.80 expected, the board approved a $5.0 billion buyback, and the quarterly dividend was raised to $1.25 ($5.00 annual).

Munich Reinsurance Co Stock Corp in Munich lifted its position in The Travelers Companies, Inc. (NYSE:TRV - Free Report) by 2,543.3% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 13,375 shares of the insurance provider's stock after purchasing an additional 12,869 shares during the period. Munich Reinsurance Co Stock Corp in Munich's holdings in Travelers Companies were worth $3,911,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. JPMorgan Chase & Co. grew its holdings in shares of Travelers Companies by 1.6% in the third quarter. JPMorgan Chase & Co. now owns 7,746,231 shares of the insurance provider's stock worth $2,162,917,000 after purchasing an additional 119,481 shares during the last quarter. AQR Capital Management LLC grew its holdings in shares of Travelers Companies by 22.8% in the third quarter. AQR Capital Management LLC now owns 1,785,288 shares of the insurance provider's stock worth $496,872,000 after purchasing an additional 331,170 shares during the last quarter. Legal & General Group Plc grew its holdings in shares of Travelers Companies by 2.7% in the third quarter. Legal & General Group Plc now owns 1,670,016 shares of the insurance provider's stock worth $466,302,000 after purchasing an additional 43,589 shares during the last quarter. Invesco Ltd. grew its holdings in shares of Travelers Companies by 1.4% in the third quarter. Invesco Ltd. now owns 1,569,670 shares of the insurance provider's stock worth $438,283,000 after purchasing an additional 21,892 shares during the last quarter. Finally, First Trust Advisors LP grew its holdings in shares of Travelers Companies by 2.1% in the third quarter. First Trust Advisors LP now owns 1,490,778 shares of the insurance provider's stock worth $416,255,000 after purchasing an additional 30,301 shares during the last quarter. Institutional investors own 82.45% of the company's stock.

Insider Buying and Selling

In related news, CEO Alan D. Schnitzer sold 55,733 shares of Travelers Companies stock in a transaction dated Wednesday, February 4th. The stock was sold at an average price of $294.70, for a total value of $16,424,515.10. Following the completion of the sale, the chief executive officer directly owned 260,329 shares in the company, valued at approximately $76,718,956.30. This trade represents a 17.63% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Jeffrey P. Klenk sold 6,414 shares of Travelers Companies stock in a transaction dated Monday, April 20th. The stock was sold at an average price of $305.06, for a total value of $1,956,654.84. Following the completion of the sale, the executive vice president owned 6,075 shares of the company's stock, valued at $1,853,239.50. The trade was a 51.36% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 95,414 shares of company stock worth $28,428,461 in the last three months. 1.39% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of analysts recently commented on the company. BMO Capital Markets raised their price target on Travelers Companies from $297.00 to $314.00 and gave the stock an "outperform" rating in a research note on Monday. Wells Fargo & Company raised their price target on Travelers Companies from $285.00 to $305.00 and gave the stock an "equal weight" rating in a research note on Thursday, April 9th. JPMorgan Chase & Co. raised their price target on Travelers Companies from $302.00 to $305.00 and gave the stock an "underweight" rating in a research note on Wednesday, January 7th. Argus raised Travelers Companies to a "strong-buy" rating in a research note on Monday, January 26th. Finally, Bank of America dropped their price target on Travelers Companies from $259.00 to $257.00 and set an "underperform" rating for the company in a research note on Tuesday, April 14th. Two investment analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating, ten have given a Hold rating and three have given a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of "Hold" and an average target price of $309.13.

Travelers Companies Stock Performance

Shares of Travelers Companies stock opened at $302.74 on Friday. The business has a fifty day simple moving average of $300.14 and a two-hundred day simple moving average of $288.73. The company has a current ratio of 0.35, a quick ratio of 0.35 and a debt-to-equity ratio of 0.29. The firm has a market capitalization of $64.38 billion, a P/E ratio of 9.01, a P/E/G ratio of 2.79 and a beta of 0.51. The Travelers Companies, Inc. has a 12 month low of $249.19 and a 12 month high of $313.12.

Travelers Companies (NYSE:TRV - Get Free Report) last posted its quarterly earnings results on Thursday, April 16th. The insurance provider reported $7.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.80 by $0.91. The firm had revenue of $11.92 billion during the quarter, compared to analyst estimates of $11.11 billion. Travelers Companies had a return on equity of 24.06% and a net margin of 15.54%.Travelers Companies's quarterly revenue was down 1.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.91 EPS. On average, equities analysts forecast that The Travelers Companies, Inc. will post 27.83 earnings per share for the current fiscal year.

Travelers Companies announced that its board has approved a stock repurchase program on Wednesday, January 21st that allows the company to repurchase $5.00 billion in shares. This repurchase authorization allows the insurance provider to purchase up to 8.3% of its stock through open market purchases. Stock repurchase programs are often a sign that the company's board believes its shares are undervalued.

Travelers Companies Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Wednesday, June 10th will be given a $1.25 dividend. The ex-dividend date of this dividend is Wednesday, June 10th. This represents a $5.00 annualized dividend and a dividend yield of 1.7%. This is a boost from Travelers Companies's previous quarterly dividend of $1.10. Travelers Companies's payout ratio is presently 13.09%.

Travelers Companies Company 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.

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