Swedbank AB Raises Stake in The Travelers Companies, Inc. $TRV

Key Points

• Swedbank AB increased its stake in The Travelers Companies by 4.7% in Q4 to 146,458 shares (about $42.48 million), and institutional investors now own roughly 82.45% of TRV.
• The board approved a $5.0 billion share repurchase program (up to 8.3% of shares) and raised the quarterly dividend to $1.25 (annual $5.00, ~1.7% yield).
• Travelers beat expectations with Q earnings of $7.71 EPS (vs. $6.80 est.) and $11.92B revenue, but insiders sold 27,573 shares (~$8.43M) last quarter and analysts hold a consensus "Hold" target of $309.13.

Swedbank AB raised its stake in The Travelers Companies, Inc. (NYSE:TRV - Free Report) by 4.7% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 146,458 shares of the insurance provider's stock after buying an additional 6,620 shares during the quarter. Swedbank AB owned approximately 0.07% of Travelers Companies worth $42,482,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Osterweis Capital Management Inc. grew its holdings in Travelers Companies by 1,820.0% in the 2nd 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. Barnes Dennig Private Wealth Management LLC lifted its stake in shares of Travelers Companies by 134.1% in the 3rd quarter. Barnes Dennig Private Wealth Management LLC now owns 96 shares of the insurance provider's stock valued at $27,000 after purchasing an additional 55 shares during the last quarter. Kohmann Bosshard Financial Services LLC acquired a new position in shares of Travelers Companies in the 4th quarter valued at $28,000. eCIO Inc. acquired a new position in shares of Travelers Companies in the 4th quarter valued at $37,000. Finally, Optima Capital LLC acquired a new position in shares of Travelers Companies in the 4th quarter valued at $38,000. 82.45% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, Vice Chairman William H. Heyman sold 1,557 shares of the stock in a transaction dated Tuesday, April 28th. The stock was sold at an average price of $310.64, for a total value of $483,666.48. Following the transaction, the insider owned 259,590 shares in the company, valued at approximately $80,639,037.60. This represents a 0.60% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Michael Frederick Klein sold 10,000 shares of the stock in a transaction dated Monday, April 20th. The shares were sold at an average price of $303.77, for a total value of $3,037,700.00. Following the completion of the transaction, the executive vice president owned 45,125 shares in the company, valued at approximately $13,707,621.25. The trade was a 18.14% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 27,573 shares of company stock worth $8,427,646. 1.39% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

TRV has been the topic of several recent analyst reports. BMO Capital Markets upped 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. Citigroup reaffirmed a "neutral" rating on shares of Travelers Companies in a research note on Tuesday, January 27th. Roth Mkm reiterated a "buy" rating on shares of Travelers Companies in a report on Monday, April 20th. Mizuho cut their price objective on Travelers Companies from $315.00 to $304.00 and set a "neutral" rating on the stock in a report on Thursday, January 22nd. Finally, Bank of America cut their price objective on Travelers Companies from $259.00 to $257.00 and set an "underperform" rating on the stock in a report on Tuesday, April 14th. Two analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating, ten have assigned a Hold rating and three have assigned a Sell rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus target price of $309.13.

Travelers Companies Trading Down 0.8%

NYSE TRV opened at $299.06 on Friday. The company has a quick ratio of 0.35, a current ratio of 0.35 and a debt-to-equity ratio of 0.29. The Travelers Companies, Inc. has a 52 week low of $249.19 and a 52 week high of $313.12. The stock has a market capitalization of $63.59 billion, a PE ratio of 8.90, a price-to-earnings-growth ratio of 2.72 and a beta of 0.50. The firm has a 50 day moving average of $300.48 and a two-hundred day moving average of $290.49.

Travelers Companies (NYSE:TRV - Get Free Report) last announced its quarterly earnings data on Thursday, April 16th. The insurance provider reported $7.71 earnings per share for the quarter, beating analysts' consensus estimates of $6.80 by $0.91. Travelers Companies had a net margin of 15.54% and a return on equity of 24.06%. The business had revenue of $11.92 billion for the quarter, compared to analyst estimates of $11.11 billion. During the same period last year, the business earned $1.91 EPS. The company's revenue was down 1.7% on a year-over-year basis. As a group, research analysts expect that The Travelers Companies, Inc. will post 28.03 EPS for the current fiscal year.

Travelers Companies declared that its board has approved a share repurchase plan on Wednesday, January 21st that allows the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization allows the insurance provider to reacquire up to 8.3% of its stock through open market purchases. Stock repurchase plans are often an indication that the company's board believes its stock is undervalued.

Travelers Companies Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Wednesday, June 10th will be issued a $1.25 dividend. This represents a $5.00 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date is Wednesday, June 10th. This is an increase from Travelers Companies's previous quarterly dividend of $1.10. Travelers Companies's dividend payout ratio (DPR) is currently 14.88%.

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.

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