North Dakota State Investment Board Takes $2.25 Million Position in The Travelers Companies, Inc. $TRV

Key Points

• North Dakota State Investment Board took a new position in Travelers Companies, buying 7,754 shares worth about $2.25 million in the fourth quarter.
• Travelers reported strong quarterly earnings, posting $7.71 EPS and $11.92 billion in revenue, both ahead of analyst expectations.
• The company raised its quarterly dividend to $1.25 per share and also has a $5 billion stock buyback authorization in place.

North Dakota State Investment Board acquired a new stake in The Travelers Companies, Inc. (NYSE:TRV - Free Report) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 7,754 shares of the insurance provider's stock, valued at approximately $2,249,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Chicago Partners Investment Group LLC boosted its stake in shares of Travelers Companies by 1.9% in the 4th quarter. Chicago Partners Investment Group LLC now owns 1,949 shares of the insurance provider's stock valued at $541,000 after buying an additional 36 shares during the period. Greenleaf Trust raised its position in shares of Travelers Companies by 0.4% during the 4th quarter. Greenleaf Trust now owns 10,036 shares of the insurance provider's stock worth $2,911,000 after acquiring an additional 37 shares in the last quarter. Allegiance Financial Group Advisory Services LLC raised its position in shares of Travelers Companies by 3.4% during the 4th quarter. Allegiance Financial Group Advisory Services LLC now owns 1,130 shares of the insurance provider's stock worth $328,000 after acquiring an additional 37 shares in the last quarter. Ibex Wealth Advisors raised its position in shares of Travelers Companies by 1.4% during the 3rd quarter. Ibex Wealth Advisors now owns 2,889 shares of the insurance provider's stock worth $807,000 after acquiring an additional 40 shares in the last quarter. Finally, JSF Financial LLC raised its position in shares of Travelers Companies by 1.0% during the 4th quarter. JSF Financial LLC now owns 3,944 shares of the insurance provider's stock worth $1,144,000 after acquiring an additional 40 shares in the last quarter. Hedge funds and other institutional investors own 82.45% of the company's stock.

Analyst Ratings Changes

TRV has been the topic of several research analyst reports. Argus raised Travelers Companies to a "strong-buy" rating in a research report on Monday, January 26th. Bank of America cut their target price on Travelers Companies from $259.00 to $257.00 and set an "underperform" rating on the stock in a research report on Tuesday, April 14th. Brean Capital initiated coverage on Travelers Companies in a research report on Thursday, March 12th. They set a "neutral" rating on the stock. Mizuho cut their target price on Travelers Companies from $315.00 to $304.00 and set a "neutral" rating on the stock in a research report on Thursday, January 22nd. Finally, Barclays raised their target price on Travelers Companies from $312.00 to $331.00 and gave the stock an "equal weight" rating in a research report on Wednesday, April 8th. Two research analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating, ten have issued a Hold rating and three have issued a Sell rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $309.13.

Insider Activity at Travelers Companies

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 stock was sold at an average price of $303.45, for a total transaction of $869,991.15. Following the transaction, the executive vice president owned 5,298 shares of the company's stock, valued at $1,607,678.10. The trade was a 35.11% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Michael Frederick Klein sold 10,000 shares of Travelers Companies stock in a transaction that occurred on Monday, April 20th. The stock was sold at an average price of $303.77, for a total value of $3,037,700.00. Following the transaction, the executive vice president directly owned 45,125 shares in the company, valued at approximately $13,707,621.25. This trade represents a 18.14% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 27,573 shares of company stock valued at $8,427,646 over the last 90 days. 1.39% of the stock is owned by insiders.

Travelers Companies Trading Up 2.1%

TRV opened at $305.91 on Tuesday. The firm has a market cap of $65.05 billion, a price-to-earnings ratio of 9.10, a price-to-earnings-growth ratio of 2.70 and a beta of 0.50. The Travelers Companies, Inc. has a 52 week low of $249.19 and a 52 week high of $313.12. The business's 50 day moving average is $299.14 and its two-hundred day moving average is $291.98. 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 released its quarterly earnings results on Thursday, April 16th. The insurance provider reported $7.71 EPS for the quarter, topping the consensus estimate of $6.80 by $0.91. The company had revenue of $11.92 billion for 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%.The firm's revenue was down 1.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.91 earnings per share. On average, research analysts predict that The Travelers Companies, Inc. will post 28.03 EPS for the current year.

Travelers Companies Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Wednesday, June 10th will be given a dividend of $1.25 per share. This represents a $5.00 annualized dividend and a yield of 1.6%. This is a positive change from Travelers Companies's previous quarterly dividend of $1.10. The ex-dividend date of this dividend is Wednesday, June 10th. Travelers Companies's dividend payout ratio is presently 13.09%.

Travelers Companies declared that its board has approved a stock repurchase program on Wednesday, January 21st that permits the company to buyback $5.00 billion in outstanding shares. This buyback authorization permits the insurance provider to buy up to 8.3% of its shares through open market purchases. Shares buyback programs are typically an indication that the company's leadership believes its stock is undervalued.

About Travelers Companies

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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