The Travelers Companies, Inc. $TRV Shares Sold by California Public Employees Retirement System

Key Points

• California Public Employees Retirement System cut its stake in Travelers by 9.5% in Q3, selling 83,281 shares and now owns 790,731 shares worth about $220.79 million; institutional investors hold roughly 82.45% of the stock.
• Travelers beat expectations with EPS $11.13 (vs. $8.34 est.) and $12.43B revenue for the quarter, and the board authorized a $5.0 billion share buyback while declaring a $1.10 quarterly dividend (annualized $4.40, ~1.5% yield).
• Analyst consensus is a Hold with an average price target of $304.33, though individual ratings range from Strong Buy to Sell.

California Public Employees Retirement System cut its holdings in shares of The Travelers Companies, Inc. (NYSE:TRV - Free Report) by 9.5% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 790,731 shares of the insurance provider's stock after selling 83,281 shares during the period. California Public Employees Retirement System owned about 0.35% of Travelers Companies worth $220,788,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of TRV. Norges Bank purchased a new position in Travelers Companies in the second quarter valued at about $815,013,000. JPMorgan Chase & Co. raised its position in shares of Travelers Companies by 10.9% in the 2nd quarter. JPMorgan Chase & Co. now owns 7,626,750 shares of the insurance provider's stock valued at $2,040,475,000 after purchasing an additional 751,715 shares in the last quarter. AustralianSuper Pty Ltd purchased a new position in shares of Travelers Companies during the 3rd quarter valued at approximately $125,597,000. Rakuten Investment Management Inc. acquired a new stake in shares of Travelers Companies during the third quarter worth approximately $112,051,000. Finally, Nordea Investment Management AB grew its position in shares of Travelers Companies by 1,641.3% during the third quarter. Nordea Investment Management AB now owns 379,480 shares of the insurance provider's stock worth $105,537,000 after buying an additional 357,687 shares in the last quarter. Institutional investors and hedge funds own 82.45% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on TRV shares. Citigroup reaffirmed a "neutral" rating on shares of Travelers Companies in a report on Tuesday, January 27th. UBS Group reissued a "neutral" rating on shares of Travelers Companies in a report on Monday, February 2nd. The Goldman Sachs Group lowered shares of Travelers Companies from a "buy" rating to a "neutral" rating and set a $304.00 target price on the stock. in a research note on Wednesday, January 7th. Roth Mkm increased their price target on shares of Travelers Companies from $300.00 to $320.00 and gave the stock a "buy" rating in a research report on Friday, January 23rd. Finally, Mizuho decreased their price target on Travelers Companies from $315.00 to $304.00 and set a "neutral" rating for the company in a research note on Thursday, January 22nd. Two analysts have rated the stock with a Strong Buy rating, five have given a Buy rating, eleven have assigned a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $304.33.

Travelers Companies Stock Up 0.2%

TRV stock opened at $302.54 on Monday. The firm has a market cap of $65.42 billion, a price-to-earnings ratio of 10.99, a PEG ratio of 2.81 and a beta of 0.49. The Travelers Companies, Inc. has a 1-year low of $230.43 and a 1-year high of $313.12. The firm has a fifty day moving average price of $292.03 and a two-hundred day moving average price of $284.43. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.33 and a quick ratio of 0.33.

Travelers Companies (NYSE:TRV - Get Free Report) last posted its quarterly 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. Travelers Companies had a net margin of 12.88% and a return on equity of 20.70%. The company had revenue of $12.43 billion for the quarter, compared to the consensus estimate of $11.13 billion. During the same period last year, the firm posted $9.15 EPS. The company's revenue for the quarter was up 3.5% on a year-over-year basis. Research analysts predict that The Travelers Companies, Inc. will post 17.02 EPS for the current year.

Travelers Companies Dividend Announcement

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

Travelers Companies declared that its Board of Directors has initiated a stock 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 buy up to 8.3% of its shares through open market purchases. Shares buyback plans are usually an indication that the company's board believes its stock is undervalued.

Insider Buying and Selling

In other Travelers Companies news, EVP Jeffrey P. Klenk sold 16,712 shares of Travelers Companies stock in a transaction that occurred on Friday, January 23rd. The stock was sold at an average price of $279.77, for a total value of $4,675,516.24. Following the completion of the transaction, the executive vice president directly owned 6,075 shares in the company, valued at $1,699,602.75. The trade was a 73.34% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Maria Olivo sold 10,400 shares of the stock in a transaction that occurred on Friday, February 6th. The stock was sold at an average price of $300.75, for a total value of $3,127,800.00. Following the sale, the executive vice president owned 117,596 shares in the company, valued at $35,366,997. The trade was a 8.13% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 92,845 shares of company stock valued at $27,239,631. 1.46% of the stock is currently owned by insiders.

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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