Swiss National Bank Decreases Stock Position in The Travelers Companies, Inc. (NYSE:TRV)

Key Points

• Swiss National Bank reduced its stake in The Travelers Companies, Inc. by 0.6%, selling 3,600 shares, and now holds approximately 0.28% of the company valued at $169.33 million.
• The Travelers Companies reported $6.51 EPS for the latest quarter, significantly exceeding analysts' estimates, with a year-over-year revenue growth of 7.4%.
• The company will pay a quarterly dividend of $1.10 per share on September 30th, reflecting an annualized dividend yield of 1.7%.

Swiss National Bank lowered its holdings in shares of The Travelers Companies, Inc. (NYSE:TRV - Free Report) by 0.6% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 640,300 shares of the insurance provider's stock after selling 3,600 shares during the period. Swiss National Bank owned about 0.28% of Travelers Companies worth $169,334,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. PFG Advisors grew its holdings in Travelers Companies by 108.8% in the 1st quarter. PFG Advisors now owns 4,255 shares of the insurance provider's stock worth $1,125,000 after acquiring an additional 2,217 shares during the last quarter. Greatmark Investment Partners Inc. lifted its position in Travelers Companies by 3.0% during the 1st quarter. Greatmark Investment Partners Inc. now owns 60,953 shares of the insurance provider's stock valued at $16,120,000 after acquiring an additional 1,772 shares during the period. Portside Wealth Group LLC purchased a new position in Travelers Companies in the first quarter worth about $208,000. Concurrent Investment Advisors LLC raised its holdings in Travelers Companies by 47.3% in the first quarter. Concurrent Investment Advisors LLC now owns 5,305 shares of the insurance provider's stock worth $1,403,000 after buying an additional 1,703 shares during the last quarter. Finally, Alpha Cubed Investments LLC raised its holdings in Travelers Companies by 200.2% in the first quarter. Alpha Cubed Investments LLC now owns 3,290 shares of the insurance provider's stock worth $870,000 after buying an additional 2,194 shares during the last quarter. Institutional investors own 82.45% of the company's stock.

Insider Buying and Selling

In other news, EVP Maria Olivo sold 36,199 shares of the company's stock in a transaction on Thursday, May 29th. The stock was sold at an average price of $274.20, for a total transaction of $9,925,765.80. Following the completion of the sale, the executive vice president directly owned 118,116 shares in the company, valued at $32,387,407.20. This represents a 23.46% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CFO Daniel S. Frey sold 20,286 shares of the company's stock in a transaction on Thursday, May 29th. The stock was sold at an average price of $273.48, for a total value of $5,547,815.28. Following the sale, the chief financial officer owned 26,932 shares of the company's stock, valued at approximately $7,365,363.36. The trade was a 42.96% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 175,374 shares of company stock worth $47,929,912 over the last ninety days. Insiders own 1.46% of the company's stock.

Travelers Companies Price Performance

TRV stock traded up $5.37 on Wednesday, reaching $269.30. The company had a trading volume of 569,589 shares, compared to its average volume of 1,330,745. 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 company's fifty day moving average is $262.68 and its 200 day moving average is $258.98. The company has a market cap of $60.63 billion, a P/E ratio of 11.91, a PEG ratio of 3.02 and a beta of 0.51. The Travelers Companies, Inc. has a 1 year low of $211.20 and a 1 year high of $277.83.

Travelers Companies (NYSE:TRV - Get Free Report) last issued its quarterly earnings data on Thursday, July 17th. The insurance provider reported $6.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.52 by $2.99. Travelers Companies had a return on equity of 18.68% and a net margin of 10.97%. The business had revenue of $11.54 billion for the quarter, compared to the consensus estimate of $11.02 billion. During the same period in the prior year, the business earned $2.51 earnings per share. The business's revenue was up 7.4% on a year-over-year basis. On average, research analysts forecast that The Travelers Companies, Inc. will post 17.02 earnings per share for the current year.

Travelers Companies Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Wednesday, September 10th will be issued a $1.10 dividend. The ex-dividend date is Wednesday, September 10th. This represents a $4.40 annualized dividend and a yield of 1.6%. Travelers Companies's payout ratio is 19.46%.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the stock. UBS Group lifted their target price on shares of Travelers Companies from $275.00 to $284.00 and gave the stock a "neutral" rating in a report on Monday, July 21st. Citigroup started coverage on shares of Travelers Companies in a report on Wednesday. They set a "neutral" rating and a $291.00 price objective for the company. Evercore ISI boosted their price objective on shares of Travelers Companies from $288.00 to $296.00 and gave the company an "outperform" rating in a report on Thursday, April 17th. Morgan Stanley set a $269.00 target price on Travelers Companies and gave the company an "equal weight" rating in a research report on Monday, May 19th. Finally, Wells Fargo & Company increased their price objective on shares of Travelers Companies from $264.00 to $275.00 and gave the stock an "equal weight" rating in a research note on Friday, July 18th. Two research analysts have rated the stock with a sell rating, eleven have given a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, Travelers Companies presently has an average rating of "Hold" and an average price target of $284.56.

Travelers Companies Company Profile

The Travelers Companies, Inc, through its subsidiaries, provides a range of commercial and personal property, and casualty insurance products and services to businesses, government units, associations, and individuals in the United States and internationally. The company operates through three segments: Business Insurance, Bond & Specialty Insurance, and Personal Insurance.