The Travelers Companies, Inc. $TRV Shares Acquired by Brookstone Capital Management

Key Points

• Brookstone Capital Management boosted its stake in Travelers Companies by 1,760.4% in the first quarter, ending with 50,732 shares valued at about $14.8 million.
• The company reported strong quarterly results, with earnings of $7.71 per share beating estimates and revenue of $11.92 billion coming in above expectations.
• Travelers raised its quarterly dividend to $1.25 per share from $1.10, while analysts currently rate the stock a Hold on average with a consensus price target of $309.07.

Brookstone Capital Management lifted its stake in shares of The Travelers Companies, Inc. (NYSE:TRV - Free Report) by 1,760.4% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 50,732 shares of the insurance provider's stock after purchasing an additional 48,005 shares during the quarter. Brookstone Capital Management's holdings in Travelers Companies were worth $14,798,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of TRV. Norges Bank acquired a new position in Travelers Companies in the 4th quarter valued at $723,339,000. State Street Corp raised its position in Travelers Companies by 3.1% during the 4th quarter. State Street Corp now owns 16,000,457 shares of the insurance provider's stock worth $4,641,093,000 after buying an additional 486,861 shares during the last quarter. AustralianSuper Pty Ltd lifted its stake in shares of Travelers Companies by 102.0% in the 4th quarter. AustralianSuper Pty Ltd now owns 908,559 shares of the insurance provider's stock worth $263,537,000 after acquiring an additional 458,746 shares during the period. Woodline Partners LP acquired a new stake in shares of Travelers Companies in the 3rd quarter worth $99,680,000. Finally, AQR Capital Management LLC boosted its holdings in shares of Travelers Companies by 22.8% in the third quarter. AQR Capital Management LLC now owns 1,785,288 shares of the insurance provider's stock valued at $496,872,000 after acquiring an additional 331,170 shares in the last quarter. 82.45% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, EVP Michael Frederick Klein sold 10,000 shares of Travelers Companies stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $307.65, for a total transaction of $3,076,500.00. Following the completion of the transaction, the executive vice president owned 45,125 shares of the company's stock, valued at $13,882,706.25. The trade was a 18.14% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Vice Chairman William H. Heyman sold 1,557 shares of the business's stock in a transaction dated Tuesday, April 28th. The stock was sold at an average price of $310.64, for a total transaction of $483,666.48. Following the completion of the sale, the insider owned 259,590 shares in the company, valued at $80,639,037.60. This represents a 0.60% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 37,573 shares of company stock valued at $11,504,146 in the last three months. 1.39% of the stock is owned by insiders.

Wall Street Analyst Weigh In

TRV has been the topic of a number of recent analyst reports. Seaport Research Partners set a $322.00 price target on shares of Travelers Companies in a research note on Tuesday, May 26th. BMO Capital Markets lifted their price objective on Travelers Companies from $297.00 to $314.00 and gave the company an "outperform" rating in a report on Monday, April 20th. JPMorgan Chase & Co. upgraded Travelers Companies from an "underweight" rating to a "neutral" rating and boosted their target price for the stock from $316.00 to $322.00 in a research report on Tuesday, May 26th. Bank of America cut their target price on Travelers Companies from $259.00 to $257.00 and set an "underperform" rating for the company in a research note on Tuesday, April 14th. Finally, Piper Sandler raised their price target on Travelers Companies from $329.00 to $340.00 and gave the company an "overweight" rating in a report on Tuesday, May 26th. Two equities research analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating, ten have assigned a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat, Travelers Companies presently has an average rating of "Hold" and an average price target of $309.07.

Travelers Companies Price Performance

TRV stock opened at $310.87 on Tuesday. The firm has a 50 day moving average of $301.52 and a 200-day moving average of $295.18. The Travelers Companies, Inc. has a 12-month low of $249.19 and a 12-month high of $313.66. The company has a current ratio of 0.35, a quick ratio of 0.35 and a debt-to-equity ratio of 0.29. The company has a market cap of $66.11 billion, a price-to-earnings ratio of 9.25, a PEG ratio of 2.78 and a beta of 0.48.

Travelers Companies (NYSE:TRV - Get Free Report) last released its quarterly earnings results on Thursday, April 16th. The insurance provider reported $7.71 earnings per share for the quarter, topping analysts' consensus estimates of $6.80 by $0.91. Travelers Companies had a return on equity of 24.06% and a net margin of 15.54%.The business had revenue of $11.92 billion for the quarter, compared to analysts' expectations of $11.11 billion. During the same quarter in the prior year, the firm posted $1.91 EPS. The company's revenue was down 1.7% compared to the same quarter last year. As a group, equities analysts expect that The Travelers Companies, Inc. will post 28 EPS for the current fiscal year.

Travelers Companies Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Wednesday, June 10th will be given a dividend of $1.25 per share. The ex-dividend date is Wednesday, June 10th. This is a positive change from Travelers Companies's previous quarterly dividend of $1.10. This represents a $5.00 dividend on an annualized basis and a yield of 1.6%. Travelers Companies's dividend payout ratio (DPR) is presently 14.88%.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.