Vestcor Inc Increases Stock Holdings in The Travelers Companies, Inc. $TRV

Key Points

• Vestcor Inc nearly doubled its stake in Travelers Companies during the fourth quarter, increasing holdings by 98.4% to 18,833 shares worth about $5.46 million.
• Travelers reported stronger-than-expected quarterly results, posting $7.71 EPS versus the $6.80 estimate and revenue of $11.92 billion, while analysts now have a consensus rating of Hold with an average target price of $311.47.
• The insurer raised its dividend to $1.25 per share quarterly from $1.10, lifting the annualized payout to $5.00 per share and implying a 1.6% yield.

Vestcor Inc raised its stake in The Travelers Companies, Inc. (NYSE:TRV - Free Report) by 98.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 18,833 shares of the insurance provider's stock after purchasing an additional 9,342 shares during the period. Vestcor Inc's holdings in Travelers Companies were worth $5,463,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the stock. Pinebridge Investments LLC purchased a new position in Travelers Companies in the fourth quarter valued at approximately $19,364,000. PBU The Pension Fund of Early Childhood & Youth Educators acquired a new stake in shares of Travelers Companies in the fourth quarter valued at approximately $11,371,000. Parallel Advisors LLC boosted its holdings in shares of Travelers Companies by 2.4% in the fourth quarter. Parallel Advisors LLC now owns 7,052 shares of the insurance provider's stock valued at $2,046,000 after acquiring an additional 163 shares during the period. Total Wealth Planning & Management Inc. acquired a new stake in shares of Travelers Companies in the fourth quarter valued at approximately $525,000. Finally, SlateStone Wealth LLC boosted its holdings in shares of Travelers Companies by 4.9% in the fourth quarter. SlateStone Wealth LLC now owns 6,286 shares of the insurance provider's stock valued at $1,823,000 after acquiring an additional 292 shares during the period. 82.45% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

TRV has been the subject of several research analyst reports. Evercore reissued an "outperform" rating on shares of Travelers Companies in a report on Friday, April 17th. Brean Capital initiated coverage on Travelers Companies in a report on Thursday, March 12th. They issued a "neutral" rating for the company. Barclays increased their price objective on Travelers Companies from $312.00 to $331.00 and gave the company an "equal weight" rating in a report on Wednesday, April 8th. Wells Fargo & Company increased their price objective on Travelers Companies from $285.00 to $305.00 and gave the company an "equal weight" rating in a report on Thursday, April 9th. Finally, JPMorgan Chase & Co. raised Travelers Companies from an "underweight" rating to a "neutral" rating and increased their price objective for the company from $316.00 to $322.00 in a report on Tuesday, May 26th. Two equities research analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating, eleven have issued a Hold rating and two have given a Sell rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $311.47.

Travelers Companies Price Performance

Travelers Companies stock opened at $303.13 on Friday. The Travelers Companies, Inc. has a 12 month low of $249.19 and a 12 month high of $313.12. The company has a debt-to-equity ratio of 0.29, a current ratio of 0.35 and a quick ratio of 0.35. The business has a 50 day simple moving average of $299.04 and a 200-day simple moving average of $294.00. The stock has a market capitalization of $64.46 billion, a PE ratio of 9.02, a price-to-earnings-growth ratio of 2.73 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 EPS 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 analysts' expectations of $11.11 billion. During the same quarter in the prior year, the business earned $1.91 earnings per share. The company's quarterly revenue was down 1.7% compared to the same quarter last year. Equities analysts predict that The Travelers Companies, Inc. will post 28 earnings per share for the current 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 dividend of $1.25 per share. This represents a $5.00 annualized dividend and a dividend yield of 1.6%. This is a boost from Travelers Companies's previous quarterly dividend of $1.10. The ex-dividend date is Wednesday, June 10th. Travelers Companies's dividend payout ratio (DPR) is currently 13.09%.

Insider Buying and Selling at Travelers Companies

In other news, EVP Michael Frederick Klein sold 10,000 shares of the company's stock in a transaction that occurred 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 sale, the executive vice president owned 45,125 shares in the company, valued at $13,882,706.25. This represents a 18.14% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Diane Kurtzman sold 2,867 shares of the company's stock in a transaction that occurred on Monday, April 20th. The stock was sold at an average price of $303.45, for a total value of $869,991.15. Following the sale, the executive vice president owned 5,298 shares of the company's stock, valued at $1,607,678.10. This trade represents a 35.11% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 37,573 shares of company stock valued at $11,504,146. Corporate insiders own 1.39% of the company's stock.

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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