Verition Fund Management LLC Sells 8,343 Shares of The Travelers Companies, Inc. $TRV

Key Points

• Verition Fund Management reduced its stake in Travelers Companies by 3.2% in the fourth quarter, selling 8,343 shares and leaving it with 248,444 shares worth about $72.1 million.
• Travelers beat quarterly earnings expectations, reporting $7.71 EPS versus the $6.80 consensus and revenue of $11.92 billion, while analysts now expect about 28 EPS for the full fiscal year.
• The company raised its dividend to $1.25 per quarter from $1.10, equal to an annualized $5.00 payout and a 1.6% yield.

Verition Fund Management LLC lowered its position in shares of The Travelers Companies, Inc. (NYSE:TRV - Free Report) by 3.2% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 248,444 shares of the insurance provider's stock after selling 8,343 shares during the quarter. Travelers Companies comprises 0.3% of Verition Fund Management LLC's holdings, making the stock its 22nd biggest position. Verition Fund Management LLC owned 0.11% of Travelers Companies worth $72,064,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of TRV. Vanguard Group Inc. boosted its holdings in Travelers Companies by 0.5% in the 4th quarter. Vanguard Group Inc. now owns 22,109,933 shares of the insurance provider's stock valued at $6,413,207,000 after purchasing an additional 110,311 shares during the period. State Street Corp raised its position in shares of Travelers Companies by 3.1% in the fourth quarter. State Street Corp now owns 16,000,457 shares of the insurance provider's stock valued at $4,641,093,000 after buying an additional 486,861 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in shares of Travelers Companies by 1.6% in the third quarter. JPMorgan Chase & Co. now owns 7,746,231 shares of the insurance provider's stock valued at $2,162,917,000 after buying an additional 119,481 shares during the period. Morgan Stanley boosted its stake in shares of Travelers Companies by 2.3% in the fourth quarter. Morgan Stanley now owns 3,793,750 shares of the insurance provider's stock valued at $1,100,416,000 after buying an additional 85,298 shares during the period. Finally, Dimensional Fund Advisors LP grew its position in Travelers Companies by 2.5% during the fourth quarter. Dimensional Fund Advisors LP now owns 3,361,112 shares of the insurance provider's stock worth $974,993,000 after buying an additional 81,497 shares in the last quarter. 82.45% of the stock is currently owned by institutional investors and hedge funds.

Travelers Companies Trading Up 0.1%

Shares of TRV opened at $304.62 on Monday. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.35 and a current ratio of 0.35. The Travelers Companies, Inc. has a 52-week low of $249.19 and a 52-week high of $313.12. The firm has a market cap of $64.78 billion, a price-to-earnings ratio of 9.06, a PEG ratio of 2.75 and a beta of 0.48. The business's fifty day moving average is $300.22 and its 200-day moving average is $294.54.

Travelers Companies (NYSE:TRV - Get Free Report) last announced its quarterly earnings data on Thursday, April 16th. The insurance provider reported $7.71 earnings per share for the quarter, topping the consensus estimate 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 during the quarter, compared to the consensus estimate of $11.11 billion. During the same period in the prior year, the company earned $1.91 EPS. Travelers Companies's revenue for the quarter was down 1.7% on a year-over-year basis. Equities analysts anticipate that The Travelers Companies, Inc. will post 28 EPS for the current fiscal year.

Travelers Companies Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Wednesday, June 10th will be paid a $1.25 dividend. This represents a $5.00 dividend on an annualized basis and a dividend yield of 1.6%. The ex-dividend date is Wednesday, June 10th. This is an increase from Travelers Companies's previous quarterly dividend of $1.10. Travelers Companies's dividend payout ratio is 14.88%.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. Brean Capital began coverage on Travelers Companies in a report on Thursday, March 12th. They issued a "neutral" rating for the company. Keefe, Bruyette & Woods raised their price target on Travelers Companies from $340.00 to $342.00 and gave the stock an "outperform" rating in a research report on Monday, April 20th. Weiss Ratings reaffirmed a "buy (a-)" rating on shares of Travelers Companies in a research report on Friday, May 8th. Barclays downgraded shares of Travelers Companies from an "equal weight" rating to an "underweight" rating and reduced their price objective for the stock from $331.00 to $295.00 in a research note on Friday. Finally, Piper Sandler raised their target price on shares of Travelers Companies from $329.00 to $340.00 and gave the company an "overweight" rating in a report on Tuesday, May 26th. Two investment analysts have rated the stock with a Strong Buy rating, six have given a Buy rating, ten have issued a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat.com, Travelers Companies has an average rating of "Hold" and a consensus target price of $309.07.

Insider Activity at Travelers Companies

In other Travelers Companies news, Vice Chairman William H. Heyman sold 1,557 shares of the business's stock in a transaction on 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 owned 259,590 shares of the company's stock, valued at approximately $80,639,037.60. The trade was a 0.60% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Jeffrey P. Klenk sold 6,414 shares of the company's stock in a transaction on Monday, April 20th. The stock was sold at an average price of $305.06, for a total transaction of $1,956,654.84. Following the transaction, the executive vice president owned 6,075 shares of the company's stock, valued at $1,853,239.50. This trade represents a 51.36% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 37,573 shares of company stock worth $11,504,146 in the last ninety days. Insiders own 1.39% of the company's stock.

Travelers Companies 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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