Prudential PLC Boosts Stake in The Travelers Companies, Inc. $TRV

Key Points

• Prudential PLC increased its stake in Travelers Companies by 50.2% in the fourth quarter, adding 18,010 shares and bringing its total holding to 53,877 shares valued at about $15.6 million.
• Travelers reported stronger-than-expected quarterly results, posting EPS of $7.71 versus the $6.80 consensus and revenue of $11.92 billion versus expectations of $11.11 billion.
• The company raised its quarterly dividend to $1.25 per share from $1.10, lifting the annualized payout to $5.00 and implying a 1.6% yield.

Prudential PLC lifted its holdings in The Travelers Companies, Inc. (NYSE:TRV - Free Report) by 50.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 53,877 shares of the insurance provider's stock after buying an additional 18,010 shares during the quarter. Prudential PLC's holdings in Travelers Companies were worth $15,628,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Osterweis Capital Management Inc. boosted its stake in shares of Travelers Companies by 1,820.0% in the second quarter. Osterweis Capital Management Inc. now owns 96 shares of the insurance provider's stock valued at $26,000 after buying an additional 91 shares in the last quarter. Kohmann Bosshard Financial Services LLC purchased a new stake in shares of Travelers Companies in the fourth quarter valued at approximately $28,000. Entrust Financial LLC purchased a new stake in shares of Travelers Companies in the fourth quarter valued at approximately $31,000. Navalign LLC purchased a new stake in shares of Travelers Companies in the fourth quarter valued at approximately $35,000. Finally, eCIO Inc. purchased a new stake in shares of Travelers Companies in the fourth quarter valued at approximately $37,000. 82.45% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, EVP Diane Kurtzman sold 2,867 shares of the business's stock in a transaction on Monday, April 20th. The stock was sold at an average price of $303.45, for a total value of $869,991.15. Following the completion of the transaction, the executive vice president directly 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 legal filing with the SEC, which is available through the SEC website. Also, EVP Michael Frederick Klein sold 10,000 shares of the business's stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $307.65, for a total value of $3,076,500.00. Following the completion of the transaction, the executive vice president directly owned 45,125 shares of the company's stock, valued at approximately $13,882,706.25. This trade represents a 18.14% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 37,573 shares of company stock valued at $11,504,146. Company insiders own 1.39% of the company's stock.

Analysts Set New Price Targets

TRV has been the topic of a number of analyst reports. Roth Mkm restated a "buy" rating on shares of Travelers Companies in a research note on Monday, April 20th. Wells Fargo & Company lifted their price target on Travelers Companies from $285.00 to $305.00 and gave the company an "equal weight" rating in a research note on Thursday, April 9th. BMO Capital Markets lifted their price target on Travelers Companies from $297.00 to $314.00 and gave the company an "outperform" rating in a research note on Monday, April 20th. Keefe, Bruyette & Woods boosted their target price on Travelers Companies from $340.00 to $342.00 and gave the stock an "outperform" rating in a research report on Monday, April 20th. Finally, Bank of America decreased 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. Two equities research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating, eleven have issued a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $311.47.

Travelers Companies Stock Up 3.3%

TRV opened at $303.13 on Friday. The business's fifty day moving average is $299.04 and its two-hundred day moving average is $294.00. 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 cap of $64.46 billion, a price-to-earnings ratio of 9.02, a PEG ratio of 2.65 and a beta of 0.48. The Travelers Companies, Inc. has a one year low of $249.19 and a one year high of $313.12.

Travelers Companies (NYSE:TRV - Get Free Report) last posted its earnings results on Thursday, April 16th. The insurance provider reported $7.71 EPS for the quarter, topping analysts' consensus estimates of $6.80 by $0.91. The company had revenue of $11.92 billion for the quarter, compared to the consensus estimate 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 period in the previous year, the business earned $1.91 earnings per share. Analysts anticipate that The Travelers Companies, Inc. will post 28 EPS for the current fiscal year.

Travelers Companies Increases Dividend

The company also recently announced 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. The ex-dividend date is Wednesday, June 10th. This is a positive change from Travelers Companies's previous quarterly dividend of $1.10. This represents a $5.00 dividend on an annualized basis and a yield of 1.6%. Travelers Companies's dividend payout ratio (DPR) is presently 13.09%.

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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