Sumitomo Life Insurance Co. Buys New Position in The Travelers Companies, Inc. $TRV

Key Points

• Sumitomo Life Insurance initiated a position in Travelers Companies, purchasing 5,077 shares valued at approximately $1.68 million. Institutional investors collectively own 82.45% of TRV.
• Travelers reported a strong quarterly performance, with EPS of $10.04 versus the $5.41 consensus estimate and revenue of $12.15 billion, exceeding expectations. Analysts’ average rating remains “Hold,” with an average price target of $354.26.
• The company declared a quarterly dividend of $1.25 per share, equal to $5.00 annually and a 1.4% yield. Meanwhile, insiders sold 62,667 shares worth about $22.7 million during the latest quarter.

Sumitomo Life Insurance Co. bought a new position in shares of The Travelers Companies, Inc. (NYSE:TRV - Free Report) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 5,077 shares of the insurance provider's stock, valued at approximately $1,676,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of TRV. Arbejdsmarkedets Tillaegspension purchased a new position in Travelers Companies in the 4th quarter worth about $24,167,000. Rit Capital Partners PLC acquired a new position in shares of Travelers Companies in the fourth quarter worth about $39,450,000. UBS Group AG boosted its holdings in shares of Travelers Companies by 5.3% in the fourth quarter. UBS Group AG now owns 1,774,756 shares of the insurance provider's stock worth $514,786,000 after buying an additional 89,159 shares during the period. Swiss Life Asset Management Ltd increased its position in shares of Travelers Companies by 41.5% in the fourth quarter. Swiss Life Asset Management Ltd now owns 66,016 shares of the insurance provider's stock worth $19,149,000 after acquiring an additional 19,347 shares in the last quarter. Finally, Baader Bank Aktiengesellschaft acquired a new stake in shares of Travelers Companies during the first quarter valued at approximately $576,000. 82.45% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

TRV has been the subject of several research analyst reports. Keefe, Bruyette & Woods restated a "market perform" rating and issued a $356.00 price target (up from $342.00) on shares of Travelers Companies in a research report on Wednesday, July 8th. Raymond James Financial set a $430.00 target price on shares of Travelers Companies in a research note on Monday, July 20th. Zacks Research upgraded Travelers Companies from a "hold" rating to a "strong-buy" rating in a report on Wednesday, July 29th. Deutsche Bank Aktiengesellschaft reaffirmed a "hold" rating on shares of Travelers Companies in a research report on Tuesday, July 21st. Finally, Cantor Fitzgerald upped their price target on Travelers Companies from $335.00 to $360.00 and gave the company an "overweight" rating in a research report on Thursday, July 9th. Four analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating, thirteen have given a Hold rating and five have assigned a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $354.26.

Travelers Companies Stock Down 0.2%

Travelers Companies stock opened at $363.83 on Friday. The firm has a market cap of $75.88 billion, a PE ratio of 9.74, a P/E/G ratio of 3.46 and a beta of 0.45. 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 firm's 50 day moving average price is $352.28 and its two-hundred day moving average price is $318.12. The Travelers Companies, Inc. has a twelve month low of $252.26 and a twelve month high of $398.70.

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

Travelers Companies Dividend Announcement

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

Insider Activity

In other news, EVP Daniel Tei-Hwa Yin sold 7,153 shares of the firm's stock in a transaction dated Friday, July 24th. The stock was sold at an average price of $387.00, for a total transaction of $2,768,211.00. Following the completion of the sale, the executive vice president directly owned 68,834 shares of the company's stock, valued at $26,638,758. This trade represents a 9.41% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Diane Kurtzman sold 4,164 shares of the firm's stock in a transaction dated Friday, July 24th. The stock was sold at an average price of $386.71, for a total value of $1,610,260.44. Following the sale, the executive vice president directly owned 5,298 shares of the company's stock, valued at $2,048,789.58. This trade represents a 44.01% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 62,667 shares of company stock valued at $22,688,329. 1.39% of the stock is currently owned by company insiders.

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.

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.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source