VIRGINIA RETIREMENT SYSTEMS ET Al Has $19.96 Million Holdings in The Travelers Companies, Inc. $TRV

Key Points

• Virginia Retirement Systems boosted its stake in Travelers Companies by 152.9% in the fourth quarter, bringing its holdings to 68,800 shares worth about $19.96 million.
• Travelers reported strong quarterly results, with EPS of $7.71 beating estimates and revenue of $11.92 billion topping forecasts, despite a slight year-over-year revenue decline.
• The insurer also announced a $5 billion share buyback and increased its quarterly dividend to $1.25 per share, lifting the annualized payout to $5.00.

VIRGINIA RETIREMENT SYSTEMS ET Al raised its holdings in shares of The Travelers Companies, Inc. (NYSE:TRV - Free Report) by 152.9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 68,800 shares of the insurance provider's stock after purchasing an additional 41,600 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al's holdings in Travelers Companies were worth $19,956,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in TRV. Varma Mutual Pension Insurance Co raised its position in shares of Travelers Companies by 21.7% in the 3rd quarter. Varma Mutual Pension Insurance Co now owns 48,247 shares of the insurance provider's stock valued at $13,472,000 after acquiring an additional 8,600 shares during the period. Peregrine Asset Advisers Inc. acquired a new stake in Travelers Companies during the 3rd quarter worth approximately $7,955,000. National Pension Service raised its holdings in Travelers Companies by 1.8% during the 3rd quarter. National Pension Service now owns 746,883 shares of the insurance provider's stock worth $208,545,000 after buying an additional 13,120 shares during the period. Elo Mutual Pension Insurance Co raised its holdings in Travelers Companies by 24.9% during the 3rd quarter. Elo Mutual Pension Insurance Co now owns 34,871 shares of the insurance provider's stock worth $9,737,000 after buying an additional 6,954 shares during the period. Finally, Compass Wealth Management LLC raised its holdings in Travelers Companies by 147.5% during the 3rd quarter. Compass Wealth Management LLC now owns 28,830 shares of the insurance provider's stock worth $8,050,000 after buying an additional 17,181 shares during the period. 82.45% of the stock is currently owned by institutional investors and hedge funds.

Travelers Companies Price Performance

Shares of TRV opened at $294.75 on Thursday. The stock has a market capitalization of $62.68 billion, a P/E ratio of 8.77, a P/E/G ratio of 2.69 and a beta of 0.50. The Travelers Companies, Inc. has a twelve month low of $249.19 and a twelve month high of $313.12. The company has a 50 day moving average of $299.64 and a 200-day moving average of $291.31. The company has a quick ratio of 0.35, a current ratio of 0.35 and a debt-to-equity ratio of 0.29.

Travelers Companies (NYSE:TRV - Get Free Report) last issued its quarterly earnings results 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. The company had revenue of $11.92 billion during the quarter, compared to analysts' expectations of $11.11 billion. Travelers Companies had a net margin of 15.54% and a return on equity of 24.06%. The business's quarterly revenue was down 1.7% on a year-over-year basis. During the same period last year, the business earned $1.91 EPS. As a group, equities research analysts forecast that The Travelers Companies, Inc. will post 28.03 EPS for the current fiscal year.

Travelers Companies declared that its board has approved a share 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 shares through open market purchases. Shares buyback programs are usually an indication that the company's board of directors believes its stock is undervalued.

Travelers Companies Increases Dividend

The firm 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. The ex-dividend date of this dividend is Wednesday, June 10th. This represents a $5.00 annualized dividend and a dividend yield of 1.7%. This is an increase from Travelers Companies's previous quarterly dividend of $1.10. Travelers Companies's dividend payout ratio (DPR) is 13.09%.

Insider Activity at Travelers Companies

In other news, EVP Michael Frederick Klein sold 10,000 shares of the firm's stock in a transaction that occurred on Monday, April 20th. The shares were sold at an average price of $303.77, for a total transaction of $3,037,700.00. Following the completion of the transaction, the executive vice president directly owned 45,125 shares of the company's stock, valued at $13,707,621.25. This trade represents a 18.14% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Diane Kurtzman sold 2,867 shares of the firm'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 transaction of $869,991.15. Following the transaction, the executive vice president directly owned 5,298 shares of the company's stock, valued at $1,607,678.10. This represents a 35.11% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 27,573 shares of company stock worth $8,427,646. 1.39% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several brokerages have commented on TRV. Barclays raised their target price on shares of Travelers Companies from $312.00 to $331.00 and gave the stock an "equal weight" rating in a report on Wednesday, April 8th. Argus upgraded shares of Travelers Companies to a "strong-buy" rating in a report on Monday, January 26th. Keefe, Bruyette & Woods raised their target price on shares of Travelers Companies from $340.00 to $342.00 and gave the stock an "outperform" rating in a report on Monday, April 20th. Wells Fargo & Company raised their target price on shares of Travelers Companies from $285.00 to $305.00 and gave the stock an "equal weight" rating in a report on Thursday, April 9th. Finally, Roth Mkm restated a "buy" rating on shares of Travelers Companies in a report on Monday, April 20th. Two research 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's stock. Based on data from MarketBeat.com, the stock currently has a consensus 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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