Swiss National Bank Lowers Stake in The Travelers Companies, Inc. $TRV

Key Points

• Swiss National Bank trimmed its stake in The Travelers Companies by 4.8% in Q3, selling 32,800 shares and leaving it with 653,100 shares (about 0.29% of the company) valued at roughly $182.36 million.
• The Travelers board authorized a $5.0 billion share repurchase plan (up to 8.3% of shares) and declared a quarterly dividend of $1.10 ($4.40 annualized, ~1.5% yield).
• Corporate insiders sold 92,845 shares worth about $27.24 million over the past three months, including EVP Michael Klein (10,000 shares at $301.18) and EVP Maria Olivo (10,400 shares at $300.75) on Feb. 6.

Swiss National Bank reduced its position in The Travelers Companies, Inc. (NYSE:TRV - Free Report) by 4.8% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 653,100 shares of the insurance provider's stock after selling 32,800 shares during the period. Swiss National Bank owned approximately 0.29% of Travelers Companies worth $182,359,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Avalon Trust Co boosted its position in Travelers Companies by 23.4% during the 2nd quarter. Avalon Trust Co now owns 7,541 shares of the insurance provider's stock worth $2,018,000 after purchasing an additional 1,429 shares during the period. Varma Mutual Pension Insurance Co lifted its stake in shares of Travelers Companies by 21.7% during the third quarter. Varma Mutual Pension Insurance Co now owns 48,247 shares of the insurance provider's stock worth $13,472,000 after purchasing an additional 8,600 shares in the last quarter. Liberty One Investment Management LLC boosted its position in shares of Travelers Companies by 32.3% in the third quarter. Liberty One Investment Management LLC now owns 26,228 shares of the insurance provider's stock worth $7,323,000 after buying an additional 6,408 shares during the period. National Pension Service grew its stake in shares of Travelers Companies by 1.8% in the third quarter. National Pension Service now owns 746,883 shares of the insurance provider's stock valued at $208,545,000 after buying an additional 13,120 shares in the last quarter. Finally, Peregrine Asset Advisers Inc. acquired a new stake in shares of Travelers Companies in the third quarter valued at about $7,955,000. Institutional investors and hedge funds own 82.45% of the company's stock.

Insider Buying and Selling

In other Travelers Companies news, EVP Michael Frederick Klein sold 10,000 shares of the firm's stock in a transaction on Friday, February 6th. The stock was sold at an average price of $301.18, for a total value of $3,011,800.00. Following the sale, the executive vice president directly owned 33,638 shares in the company, valued at approximately $10,131,092.84. This trade represents a 22.92% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Maria Olivo sold 10,400 shares of the business's stock in a transaction on Friday, February 6th. The shares were sold at an average price of $300.75, for a total transaction of $3,127,800.00. Following the transaction, the executive vice president directly owned 117,596 shares of the company's stock, valued at approximately $35,366,997. This trade represents a 8.13% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 92,845 shares of company stock valued at $27,239,631 over the last three months. Corporate insiders own 1.46% of the company's stock.

Travelers Companies Trading Down 1.1%

NYSE TRV opened at $303.02 on Tuesday. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.33 and a current ratio of 0.33. The Travelers Companies, Inc. has a one year low of $230.43 and a one year high of $313.12. The company has a 50-day simple moving average of $291.06 and a 200-day simple moving average of $283.63. The firm has a market capitalization of $65.53 billion, a PE ratio of 11.01, a price-to-earnings-growth ratio of 2.86 and a beta of 0.49.

Travelers Companies (NYSE:TRV - Get Free Report) last issued its earnings results on Wednesday, January 21st. The insurance provider reported $11.13 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $8.34 by $2.79. The firm had revenue of $12.43 billion for the quarter, compared to analysts' expectations of $11.13 billion. Travelers Companies had a net margin of 12.88% and a return on equity of 20.70%. Travelers Companies's revenue was up 3.5% on a year-over-year basis. During the same quarter last year, the company posted $9.15 earnings per share. On average, equities analysts forecast that The Travelers Companies, Inc. will post 17.02 earnings per share for the current year.

Travelers Companies declared that its board has initiated a share repurchase plan on Wednesday, January 21st that permits the company to buyback $5.00 billion in shares. This buyback authorization permits the insurance provider to purchase up to 8.3% of its shares through open market purchases. Shares buyback plans are generally a sign that the company's leadership believes its stock is undervalued.

Travelers Companies Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Tuesday, March 10th will be given a $1.10 dividend. The ex-dividend date of this dividend is Tuesday, March 10th. This represents a $4.40 annualized dividend and a yield of 1.5%. Travelers Companies's dividend payout ratio (DPR) is currently 15.98%.

Analyst Upgrades and Downgrades

Several research firms recently commented on TRV. Roth Mkm boosted their price target on Travelers Companies from $300.00 to $320.00 and gave the stock a "buy" rating in a research report on Friday, January 23rd. Mizuho lowered their price objective on shares of Travelers Companies from $315.00 to $304.00 and set a "neutral" rating for the company in a research report on Thursday, January 22nd. Jefferies Financial Group upgraded shares of Travelers Companies to a "hold" rating in a research note on Tuesday, January 6th. Zacks Research cut shares of Travelers Companies from a "strong-buy" rating to a "hold" rating in a research report on Monday, December 22nd. Finally, Evercore upped their target price on shares of Travelers Companies from $309.00 to $317.00 and gave the company an "outperform" rating in a research note on Wednesday, January 7th. Two equities research analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating, ten have given a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $304.33.

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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