The Travelers Companies, Inc. $TRV Shares Purchased by QRG Capital Management Inc.

Key Points

• QRG Capital Management boosted its Travelers Companies stake by 13.9% in the first quarter, buying 7,858 additional shares and bringing its holdings to 64,497 shares valued at about $18.8 million.
• Insider selling was notable, with Vice Chairman William H. Heyman and EVP Michael Frederick Klein both selling shares; insiders sold 37,573 shares total over the last three months.
• Travelers reported better-than-expected quarterly results, posting $7.71 EPS versus $6.80 expected, while also raising its quarterly dividend to $1.25 per share from $1.10.

QRG Capital Management Inc. increased its position in shares of The Travelers Companies, Inc. (NYSE:TRV - Free Report) by 13.9% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 64,497 shares of the insurance provider's stock after purchasing an additional 7,858 shares during the quarter. QRG Capital Management Inc.'s holdings in Travelers Companies were worth $18,813,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Brighton Jones LLC boosted its position in Travelers Companies by 13.4% during the fourth quarter. Brighton Jones LLC now owns 3,277 shares of the insurance provider's stock worth $789,000 after acquiring an additional 387 shares during the last quarter. Revolve Wealth Partners LLC acquired a new position in shares of Travelers Companies during the 4th quarter worth approximately $276,000. WINTON GROUP Ltd purchased a new stake in shares of Travelers Companies in the second quarter valued at approximately $382,000. CIBC Asset Management Inc increased its holdings in shares of Travelers Companies by 13.9% in the second quarter. CIBC Asset Management Inc now owns 68,537 shares of the insurance provider's stock valued at $18,336,000 after purchasing an additional 8,383 shares during the last quarter. Finally, Treasurer of the State of North Carolina lifted its position in Travelers Companies by 2.0% during the second quarter. Treasurer of the State of North Carolina now owns 105,605 shares of the insurance provider's stock worth $28,254,000 after buying an additional 2,117 shares in the last quarter. Institutional investors and hedge funds own 82.45% of the company's stock.

Insiders Place Their Bets

In other Travelers Companies news, Vice Chairman William H. Heyman sold 1,557 shares of the business's stock in a transaction dated Tuesday, April 28th. The shares were sold at an average price of $310.64, for a total transaction of $483,666.48. Following the sale, the insider directly 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Michael Frederick Klein sold 10,000 shares of the stock in a transaction dated 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 sale, the executive vice president directly owned 45,125 shares in the company, valued at $13,882,706.25. This represents a 18.14% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders sold 37,573 shares of company stock valued at $11,504,146. Insiders own 1.39% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on TRV shares. 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. Evercore reaffirmed an "outperform" rating on shares of Travelers Companies in a research note on Friday, April 17th. BMO Capital Markets increased their price target on shares of Travelers Companies from $297.00 to $314.00 and gave the company an "outperform" rating in a research note on Monday, April 20th. Keefe, Bruyette & Woods lifted their price target on shares of Travelers Companies from $340.00 to $342.00 and gave the company an "outperform" rating in a research report on Monday, April 20th. Finally, Wells Fargo & Company increased their price objective on Travelers Companies from $285.00 to $305.00 and gave the stock an "equal weight" rating in a research report on Thursday, April 9th. Two investment analysts have rated the stock with a Strong Buy rating, six have given a Buy rating, ten have given a Hold rating and three have given a Sell rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $309.07.

Travelers Companies Price Performance

Travelers Companies stock opened at $341.65 on Friday. The company's 50 day simple moving average is $306.77 and its 200-day simple moving average is $298.09. The company has a market capitalization of $72.65 billion, a price-to-earnings ratio of 10.17, a price-to-earnings-growth ratio of 3.09 and a beta of 0.46. The Travelers Companies, Inc. has a 1 year low of $249.19 and a 1 year high of $342.31. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.35 and a current ratio of 0.35.

Travelers Companies (NYSE:TRV - Get Free Report) last posted its quarterly earnings data 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 net margin of 15.54% and a return on equity of 24.06%. The firm had revenue of $11.92 billion during the quarter, compared to analysts' expectations of $11.11 billion. During the same quarter last year, the company posted $1.91 EPS. The firm's quarterly revenue was down 1.7% on a year-over-year basis. As a group, equities research analysts expect that The Travelers Companies, Inc. will post 28 earnings per share for the current year.

Travelers Companies Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Wednesday, June 10th were given a dividend of $1.25 per share. This is an increase from Travelers Companies's previous quarterly dividend of $1.10. This represents a $5.00 annualized dividend and a dividend yield of 1.5%. The ex-dividend date was Wednesday, June 10th. Travelers Companies's dividend payout ratio (DPR) is 14.88%.

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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