Swiss Life Asset Management Ltd Acquires 19,347 Shares of The Travelers Companies, Inc. $TRV

Key Points

• Swiss Life Asset Management increased its stake in Travelers Companies by 41.5% in the fourth quarter, buying 19,347 shares and bringing its total holdings to 66,016 shares worth about $19.1 million.
• Travelers reported strong quarterly results, with earnings of $7.71 per share versus expectations of $6.80 and revenue of $11.92 billion, while management also authorized a $5 billion share repurchase program.
• The insurer raised its quarterly dividend to $1.25 per share, and analyst sentiment remains mixed with an average Hold rating and a consensus price target of $309.13, close to the stock’s recent trading level.

Swiss Life Asset Management Ltd boosted its holdings in The Travelers Companies, Inc. (NYSE:TRV - Free Report) by 41.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 66,016 shares of the insurance provider's stock after buying an additional 19,347 shares during the quarter. Swiss Life Asset Management Ltd's holdings in Travelers Companies were worth $19,149,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in TRV. AustralianSuper Pty Ltd bought a new position in Travelers Companies in the 3rd quarter valued at approximately $125,597,000. Rakuten Investment Management Inc. bought a new position in Travelers Companies during the 3rd quarter worth approximately $112,051,000. Nordea Investment Management AB raised its holdings in Travelers Companies by 1,641.3% during the 3rd quarter. Nordea Investment Management AB now owns 379,480 shares of the insurance provider's stock worth $105,537,000 after purchasing an additional 357,687 shares during the last quarter. Woodline Partners LP bought a new position in Travelers Companies during the 3rd quarter worth approximately $99,680,000. Finally, AQR Capital Management LLC raised its holdings in Travelers Companies by 22.8% during the 3rd quarter. AQR Capital Management LLC now owns 1,785,288 shares of the insurance provider's stock worth $496,872,000 after purchasing an additional 331,170 shares during the last quarter. Institutional investors own 82.45% of the company's stock.

Insider Buying and Selling

In related news, insider Avrohom J. Kess sold 6,735 shares of Travelers Companies stock in a transaction on Tuesday, April 28th. The shares were sold at an average price of $308.78, for a total value of $2,079,633.30. Following the completion of the sale, the insider owned 48,737 shares of the company's stock, valued at approximately $15,049,010.86. This trade represents a 12.14% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Jeffrey P. Klenk sold 6,414 shares of Travelers Companies stock in a transaction on Monday, April 20th. The shares were sold at an average price of $305.06, for a total transaction of $1,956,654.84. Following the completion of the sale, the executive vice president directly owned 6,075 shares of the company's stock, valued at approximately $1,853,239.50. The trade was a 51.36% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 27,573 shares of company stock worth $8,427,646 over the last ninety days. 1.39% of the stock is owned by company insiders.

Travelers Companies Stock Performance

NYSE:TRV opened at $297.07 on Tuesday. The company has a fifty day moving average of $300.16 and a 200-day moving average of $290.92. The firm has a market capitalization of $63.17 billion, a P/E ratio of 8.84, a P/E/G ratio of 2.68 and a beta of 0.50. 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 twelve month low of $249.19 and a twelve month high of $313.12.

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

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

Travelers Companies Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Wednesday, June 10th will be paid a $1.25 dividend. The ex-dividend date is Wednesday, June 10th. This represents a $5.00 annualized dividend and a dividend yield of 1.7%. This is an increase from Travelers Companies's previous quarterly dividend of $1.10. Travelers Companies's dividend payout ratio (DPR) is presently 13.09%.

Analysts Set New Price Targets

Several research firms have issued reports on TRV. Brean Capital began coverage on shares of Travelers Companies in a report on Thursday, March 12th. They set a "neutral" rating for the company. Keefe, Bruyette & Woods raised their price target on shares of Travelers Companies from $340.00 to $342.00 and gave the stock an "outperform" rating in a report on Monday, April 20th. Wells Fargo & Company raised their price target on shares of Travelers Companies from $285.00 to $305.00 and gave the stock an "equal weight" rating in a report on Thursday, April 9th. UBS Group restated a "neutral" rating on shares of Travelers Companies in a report on Monday, February 2nd. Finally, Bank of America lowered their price target on shares of Travelers Companies from $259.00 to $257.00 and set an "underperform" rating for the company in a report on Tuesday, April 14th. Two investment analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating, ten have issued a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat, Travelers Companies has an average rating of "Hold" and an average target price of $309.13.

Travelers Companies Company 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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