Resona Asset Management Co. Ltd. Has $23.71 Million Position in The Travelers Companies, Inc. (NYSE:TRV)

Key Points

• Resona Asset Management Co. Ltd. increased its position in The Travelers Companies, Inc. by 6.1%, owning 89,763 shares valued at approximately $23.7 million.
• The Travelers Companies reported earnings of $6.51 per share for the last quarter, significantly surpassing analysts' expectations of $3.52, with a revenue increase of 7.4% year-over-year.
• Travelers Companies announced a quarterly dividend of $1.10 per share, representing an annual yield of 1.7%, with the ex-dividend date set for September 10th.

Resona Asset Management Co. Ltd. grew its holdings in The Travelers Companies, Inc. (NYSE:TRV - Free Report) by 6.1% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 89,763 shares of the insurance provider's stock after buying an additional 5,124 shares during the quarter. Resona Asset Management Co. Ltd.'s holdings in Travelers Companies were worth $23,708,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Westpac Banking Corp bought a new position in shares of Travelers Companies in the 1st quarter valued at about $236,000. HighTower Advisors LLC boosted its stake in Travelers Companies by 2.5% during the 1st quarter. HighTower Advisors LLC now owns 160,406 shares of the insurance provider's stock worth $42,421,000 after acquiring an additional 3,887 shares during the last quarter. Public Sector Pension Investment Board boosted its stake in Travelers Companies by 2.8% during the 1st quarter. Public Sector Pension Investment Board now owns 60,578 shares of the insurance provider's stock worth $16,020,000 after acquiring an additional 1,656 shares during the last quarter. Financial Engines Advisors L.L.C. boosted its stake in Travelers Companies by 4.2% during the 1st quarter. Financial Engines Advisors L.L.C. now owns 3,159 shares of the insurance provider's stock worth $835,000 after acquiring an additional 128 shares during the last quarter. Finally, SouthState Corp boosted its stake in Travelers Companies by 2.9% during the 1st quarter. SouthState Corp now owns 2,266 shares of the insurance provider's stock worth $599,000 after acquiring an additional 64 shares during the last quarter. Institutional investors and hedge funds own 82.45% of the company's stock.

Travelers Companies Stock Down 1.1%

NYSE:TRV traded down $3.02 during midday trading on Friday, reaching $265.57. The company had a trading volume of 1,295,665 shares, compared to its average volume of 1,337,458. The Travelers Companies, Inc. has a 12-month low of $215.39 and a 12-month high of $277.83. The company has a current ratio of 0.33, a quick ratio of 0.33 and a debt-to-equity ratio of 0.27. The firm has a market capitalization of $59.79 billion, a price-to-earnings ratio of 11.75, a PEG ratio of 3.08 and a beta of 0.51. The stock's fifty day simple moving average is $262.58 and its 200-day simple moving average is $259.17.

Travelers Companies (NYSE:TRV - Get Free Report) last released its earnings results on Thursday, July 17th. The insurance provider reported $6.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.52 by $2.99. The company had revenue of $11.54 billion for the quarter, compared to analysts' expectations of $11.02 billion. Travelers Companies had a return on equity of 18.68% and a net margin of 10.97%. The firm's quarterly revenue was up 7.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.51 EPS. On average, sell-side analysts anticipate that The Travelers Companies, Inc. will post 17.02 earnings per share for the current fiscal year.

Travelers Companies Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Wednesday, September 10th will be given a $1.10 dividend. This represents a $4.40 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date of this dividend is Wednesday, September 10th. Travelers Companies's dividend payout ratio is presently 19.46%.

Analyst Ratings Changes

TRV has been the topic of a number of recent research reports. Morgan Stanley set a $269.00 price objective on shares of Travelers Companies and gave the company an "equal weight" rating in a report on Monday, May 19th. Barclays cut shares of Travelers Companies from an "overweight" rating to an "equal weight" rating and dropped their target price for the stock from $280.00 to $274.00 in a report on Monday, July 7th. Wall Street Zen downgraded shares of Travelers Companies from a "buy" rating to a "hold" rating in a research report on Saturday, August 9th. Keefe, Bruyette & Woods lifted their price objective on shares of Travelers Companies from $304.00 to $316.00 and gave the company an "outperform" rating in a report on Friday, July 18th. Finally, Cantor Fitzgerald raised shares of Travelers Companies to a "strong-buy" rating in a research report on Wednesday. Two equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Travelers Companies has a consensus rating of "Hold" and a consensus target price of $284.56.

Insider Buying and Selling

In related news, CEO Alan D. Schnitzer sold 35,456 shares of the company's stock in a transaction on Thursday, May 29th. The stock was sold at an average price of $273.78, for a total transaction of $9,707,143.68. Following the completion of the transaction, the chief executive officer directly owned 262,329 shares in the company, valued at $71,820,433.62. This represents a 11.91% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Jeffrey P. Klenk sold 15,180 shares of the firm's stock in a transaction that occurred on Thursday, May 29th. The shares were sold at an average price of $272.87, for a total transaction of $4,142,166.60. Following the transaction, the executive vice president owned 6,075 shares in the company, valued at $1,657,685.25. This represents a 71.42% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 175,374 shares of company stock worth $47,929,912 over the last quarter. Company insiders own 1.46% of the company's stock.

About Travelers Companies

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.