Panagora Asset Management Inc. Has $34.14 Million Stock Holdings in The Travelers Companies, Inc. $TRV

Key Points

• Panagora Asset Management reduced its stake in Travelers Companies by 5.9% in the fourth quarter, holding 117,710 shares worth about $34.14 million at quarter-end.
• Travelers reported strong quarterly results, posting EPS of $7.71 versus expectations of $6.80 and revenue of $11.92 billion, while also lifting its quarterly dividend from $1.10 to $1.25 per share.
• The stock has been trading near its highs, opening at $306.89 with a market cap of $65.26 billion, while analysts currently rate it Hold on average with a consensus price target of $309.07.

Panagora Asset Management Inc. trimmed its holdings in shares of The Travelers Companies, Inc. (NYSE:TRV - Free Report) by 5.9% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 117,710 shares of the insurance provider's stock after selling 7,340 shares during the period. Panagora Asset Management Inc. owned about 0.05% of Travelers Companies worth $34,143,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Osterweis Capital Management Inc. boosted its stake in shares of Travelers Companies by 1,820.0% during the 2nd quarter. Osterweis Capital Management Inc. now owns 96 shares of the insurance provider's stock worth $26,000 after buying an additional 91 shares during the last quarter. Kohmann Bosshard Financial Services LLC acquired a new position in shares of Travelers Companies during the 4th quarter worth about $28,000. Entrust Financial LLC acquired a new position in shares of Travelers Companies during the 4th quarter worth about $31,000. Navalign LLC acquired a new position in shares of Travelers Companies during the 4th quarter worth about $35,000. Finally, Wilkerson Advisory Group LLC acquired a new position in shares of Travelers Companies during the 4th quarter worth about $35,000. 82.45% of the stock is currently owned by institutional investors and hedge funds.

Travelers Companies Trading Up 0.8%

Shares of NYSE:TRV opened at $306.89 on Tuesday. The company has a 50-day simple moving average of $300.48 and a 200 day simple moving average of $294.64. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.35 and a current ratio of 0.35. The company has a market capitalization of $65.26 billion, a P/E ratio of 9.13, a price-to-earnings-growth ratio of 2.75 and a beta of 0.48. The Travelers Companies, Inc. has a 52-week low of $249.19 and a 52-week high of $313.12.

Travelers Companies (NYSE:TRV - Get Free Report) last issued its quarterly earnings data 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 the consensus estimate of $11.11 billion. Travelers Companies had a net margin of 15.54% and a return on equity of 24.06%. The business's revenue for the quarter was down 1.7% compared to the same quarter last year. During the same period last year, the business posted $1.91 earnings per share. Sell-side analysts forecast that The Travelers Companies, Inc. will post 28 earnings per share for the current year.

Travelers Companies Increases Dividend

The business also recently disclosed 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 boost from Travelers Companies's previous quarterly dividend of $1.10. The ex-dividend date is Wednesday, June 10th. Travelers Companies's dividend payout ratio (DPR) is 14.88%.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the stock. Evercore reiterated an "outperform" rating on shares of Travelers Companies in a research note on Friday, April 17th. Piper Sandler raised their target price on shares of Travelers Companies from $329.00 to $340.00 and gave the company an "overweight" rating in a research note on Tuesday, May 26th. Weiss Ratings reiterated a "buy (a-)" rating on shares of Travelers Companies in a research note on Friday, May 8th. Wells Fargo & Company raised their target price on shares of Travelers Companies from $285.00 to $305.00 and gave the company an "equal weight" rating in a research note on Thursday, April 9th. Finally, Keefe, Bruyette & Woods raised their target price on shares of Travelers Companies from $340.00 to $342.00 and gave the company an "outperform" rating in a research note on Monday, April 20th. Two research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating, ten have assigned a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat, Travelers Companies currently has an average rating of "Hold" and a consensus price target of $309.07.

Insider Activity

In other Travelers Companies news, EVP Diane Kurtzman sold 2,867 shares of the firm's stock in a transaction that occurred on Monday, April 20th. The shares were sold at an average price of $303.45, for a total transaction of $869,991.15. Following the completion of the sale, the executive vice president directly owned 5,298 shares in the company, valued at $1,607,678.10. This trade represents a 35.11% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Avrohom J. Kess sold 6,735 shares of the firm's stock in a transaction that occurred on Tuesday, April 28th. The stock was sold at an average price of $308.78, for a total transaction of $2,079,633.30. Following the sale, the insider owned 48,737 shares of the company's stock, valued at $15,049,010.86. This trade represents a 12.14% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 37,573 shares of company stock valued at $11,504,146. Company insiders own 1.39% of the company's stock.

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.