The Travelers Companies, Inc. $TRV Shares Sold by Peregrine Asset Advisers Inc.

Key Points

• Peregrine Asset Advisers cut its stake in Travelers by 49.7% in Q4, selling 14,164 shares and leaving it with 14,327 shares worth about $4.16 million (≈1.2% of the fund, its 29th largest holding).
• Travelers beat quarterly expectations (EPS $7.71 vs. $6.80, revenue $11.92B), and the board authorized a $5.0 billion buyback while raising the quarterly dividend to $1.25 ($5.00 annual, ~1.6% yield).
• Significant insider selling occurred recently: CEO Alan Schnitzer sold 55,733 shares and EVP Maria Olivo sold 10,400, with insiders offloading 103,706 shares (~$31M) over the last three months; insiders now own 1.39% of the company.

Peregrine Asset Advisers Inc. cut its holdings in The Travelers Companies, Inc. (NYSE:TRV - Free Report) by 49.7% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 14,327 shares of the insurance provider's stock after selling 14,164 shares during the period. Travelers Companies accounts for about 1.2% of Peregrine Asset Advisers Inc.'s portfolio, making the stock its 29th largest holding. Peregrine Asset Advisers Inc.'s holdings in Travelers Companies were worth $4,156,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in the business. Osterweis Capital Management Inc. lifted its stake in Travelers Companies by 1,820.0% during the second quarter. Osterweis Capital Management Inc. now owns 96 shares of the insurance provider's stock worth $26,000 after purchasing an additional 91 shares in the last quarter. Barnes Dennig Private Wealth Management LLC lifted its stake in Travelers Companies by 134.1% during the third quarter. Barnes Dennig Private Wealth Management LLC now owns 96 shares of the insurance provider's stock worth $27,000 after purchasing an additional 55 shares in the last quarter. Kohmann Bosshard Financial Services LLC acquired a new position in Travelers Companies during the fourth quarter worth $28,000. eCIO Inc. acquired a new position in Travelers Companies during the fourth quarter worth $37,000. Finally, Optima Capital LLC acquired a new position in Travelers Companies during the fourth quarter worth $38,000. 82.45% of the stock is currently owned by institutional investors and hedge funds.

Travelers Companies Stock Up 0.1%

Travelers Companies stock opened at $304.99 on Monday. The firm has a market capitalization of $64.86 billion, a P/E ratio of 9.07, a P/E/G ratio of 2.74 and a beta of 0.50. The stock's fifty day simple moving average is $300.75 and its 200-day simple moving average is $289.72. 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 Travelers Companies, Inc. has a twelve month low of $249.19 and a twelve month high of $313.12.

Travelers Companies (NYSE:TRV - Get Free Report) last announced its quarterly earnings data on Thursday, April 16th. The insurance provider reported $7.71 EPS for the quarter, beating 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 the consensus estimate of $11.11 billion. During the same quarter last year, the firm earned $1.91 earnings per share. The firm'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 28.03 earnings per share for the current fiscal year.

Travelers Companies declared that its Board of Directors has initiated a stock buyback program on Wednesday, January 21st that authorizes the company to buyback $5.00 billion in shares. This buyback authorization authorizes the insurance provider to purchase up to 8.3% of its stock through open market purchases. Stock buyback programs are generally a sign that the company's board of directors believes its stock is undervalued.

Travelers Companies Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Investors 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 represents a $5.00 annualized dividend and a dividend yield of 1.6%. This is an increase from Travelers Companies's previous quarterly dividend of $1.10. Travelers Companies's payout ratio is presently 13.09%.

Insider Activity

In related news, EVP Maria Olivo sold 10,400 shares of Travelers Companies stock in a transaction that occurred on Friday, February 6th. The stock was sold at an average price of $300.75, for a total transaction of $3,127,800.00. Following the completion of the transaction, the executive vice president directly owned 117,596 shares in the company, valued at $35,366,997. The trade was a 8.13% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Alan D. Schnitzer sold 55,733 shares of Travelers Companies stock in a transaction that occurred on Wednesday, February 4th. The stock was sold at an average price of $294.70, for a total value of $16,424,515.10. Following the transaction, the chief executive officer owned 260,329 shares of the company's stock, valued at $76,718,956.30. This represents a 17.63% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 103,706 shares of company stock worth $30,991,761. 1.39% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research firms have commented on TRV. Jefferies Financial Group upgraded Travelers Companies to a "hold" rating in a research note on Tuesday, January 6th. The Goldman Sachs Group cut Travelers Companies from a "buy" rating to a "neutral" rating and set a $304.00 price target on the stock. in a research note on Wednesday, January 7th. Bank of America decreased their price target on Travelers Companies from $259.00 to $257.00 and set an "underperform" rating on the stock in a research note on Tuesday, April 14th. Wells Fargo & Company upped their price target on Travelers Companies from $285.00 to $305.00 and gave the stock an "equal weight" rating in a research note on Thursday, April 9th. Finally, Barclays upped their price target on Travelers Companies from $312.00 to $331.00 and gave the stock an "equal weight" rating in a research note on Wednesday, April 8th. Two research 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 stock. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $309.13.

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.

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