Saudi Central Bank Purchases 6,651 Shares of The Travelers Companies, Inc. $TRV

Key Points

• Saudi Central Bank increased its Travelers stake by 80.8% in the second quarter, adding 6,651 shares for a total holding of 14,885 shares valued at approximately $4.9 million.
• Travelers reported quarterly earnings of $10.04 per share, beating analyst expectations of $5.41, while revenue reached $12.15 billion versus the $11.26 billion consensus estimate.
• The company declared a quarterly dividend of $1.25 per share, equivalent to $5.00 annually and a 1.4% yield; analysts’ average rating remains “Hold,” with an average price target of $354.26.

Saudi Central Bank grew its position in The Travelers Companies, Inc. (NYSE:TRV - Free Report) by 80.8% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 14,885 shares of the insurance provider's stock after acquiring an additional 6,651 shares during the quarter. Saudi Central Bank's holdings in Travelers Companies were worth $4,914,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. BlackRock Inc. bought a new stake in Travelers Companies in the 2nd quarter valued at $6,915,909,000. Bank of America Corp DE acquired a new position in Travelers Companies in the second quarter worth about $932,142,000. Norges Bank acquired a new position in Travelers Companies in the fourth quarter worth about $723,339,000. GQG Partners LLC bought a new position in Travelers Companies during the second quarter worth about $789,024,000. Finally, Legal & General Group Plc acquired a new stake in Travelers Companies during the second quarter valued at approximately $558,164,000. Institutional investors and hedge funds own 82.45% of the company's stock.

Travelers Companies Price Performance

Shares of TRV stock opened at $369.01 on Monday. The Travelers Companies, Inc. has a 52 week low of $252.26 and a 52 week high of $398.70. The stock has a market capitalization of $76.96 billion, a PE ratio of 9.88, a PEG ratio of 2.48 and a beta of 0.44. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.33 and a current ratio of 0.33. The stock's fifty day moving average is $363.46 and its 200-day moving average is $323.48.

Travelers Companies (NYSE:TRV - Get Free Report) last announced its earnings results on Friday, July 17th. The insurance provider reported $10.04 earnings per share for the quarter, topping analysts' consensus estimates of $5.41 by $4.63. The company had revenue of $12.15 billion during the quarter, compared to the consensus estimate of $11.26 billion. Travelers Companies had a net margin of 16.95% and a return on equity of 25.41%. The company's revenue was up .3% on a year-over-year basis. During the same period in the previous year, the firm posted $6.51 earnings per share. Equities research analysts expect that The Travelers Companies, Inc. will post 33.82 EPS for the current fiscal year.

Travelers Companies Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Thursday, September 10th will be given a $1.25 dividend. This represents a $5.00 dividend on an annualized basis and a yield of 1.4%. The ex-dividend date is Thursday, September 10th. Travelers Companies's dividend payout ratio (DPR) is presently 13.39%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on TRV shares. UBS Group increased their target price on Travelers Companies from $314.00 to $350.00 and gave the stock a "neutral" rating in a report on Wednesday, July 8th. Zacks Research raised Travelers Companies from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, July 29th. BMO Capital Markets lowered Travelers Companies from an "outperform" rating to a "market perform" rating and increased their price objective for the stock from $314.00 to $379.00 in a research note on Tuesday, July 21st. Cantor Fitzgerald boosted their target price on shares of Travelers Companies from $335.00 to $360.00 and gave the company an "overweight" rating in a research note on Thursday, July 9th. Finally, Evercore set a $329.00 target price on shares of Travelers Companies and gave the stock an "in-line" rating in a research report on Friday, July 10th. Four analysts have rated the stock with a Strong Buy rating, four have given a Buy rating, thirteen have issued a Hold rating and five have given a Sell rating to the stock. According to data from MarketBeat.com, Travelers Companies has an average rating of "Hold" and an average price target of $354.26.

Insider Buying and Selling

In other news, EVP David Rowland sold 5,000 shares of the company's stock in a transaction on Wednesday, July 22nd. The stock was sold at an average price of $371.69, for a total transaction of $1,858,450.00. Following the transaction, the executive vice president owned 10,479 shares of the company's stock, valued at $3,894,939.51. This represents a 32.30% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Daniel Yin sold 7,153 shares of the firm's stock in a transaction dated Friday, July 24th. The shares were sold at an average price of $387.00, for a total value of $2,768,211.00. Following the completion of the transaction, the executive vice president owned 68,834 shares in the company, valued at approximately $26,638,758. This represents a 9.41% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 58,667 shares of company stock worth $21,830,989. 1.39% of the stock is currently owned by company insiders.

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.