Zurcher Kantonalbank Zurich Cantonalbank Buys 24,129 Shares of The Travelers Companies, Inc. (NYSE:TRV)

Key Points

• Zurcher Kantonalbank increased its stake in The Travelers Companies by 15.2%, acquiring an additional 24,129 shares in the first quarter, bringing total ownership to 183,301 shares valued at $48.5 million.
• The Travelers Companies reported a quarterly EPS of $6.51, significantly surpassing analysts' estimates of $3.52, and achieved revenue of $11.54 billion, higher than the expected $11.02 billion.
• The firm declared a quarterly dividend of $1.10 per share, which is set to be paid out on September 30th, representing an annualized yield of 1.69% and a payout ratio of 19.46%.

Zurcher Kantonalbank Zurich Cantonalbank increased its stake in The Travelers Companies, Inc. (NYSE:TRV - Free Report) by 15.2% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 183,301 shares of the insurance provider's stock after purchasing an additional 24,129 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank owned approximately 0.08% of Travelers Companies worth $48,476,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Bearing Point Capital LLC boosted its stake in shares of Travelers Companies by 2.0% during the 1st quarter. Bearing Point Capital LLC now owns 1,973 shares of the insurance provider's stock worth $522,000 after buying an additional 38 shares during the last quarter. Forum Financial Management LP boosted its stake in shares of Travelers Companies by 0.9% during the 1st quarter. Forum Financial Management LP now owns 4,428 shares of the insurance provider's stock worth $1,171,000 after buying an additional 39 shares during the last quarter. Smith Salley Wealth Management boosted its stake in shares of Travelers Companies by 0.6% during the 1st quarter. Smith Salley Wealth Management now owns 7,321 shares of the insurance provider's stock worth $1,936,000 after buying an additional 44 shares during the last quarter. Northern Financial Advisors Inc boosted its stake in shares of Travelers Companies by 0.7% during the 1st quarter. Northern Financial Advisors Inc now owns 6,576 shares of the insurance provider's stock worth $1,739,000 after buying an additional 45 shares during the last quarter. Finally, Windsor Capital Management LLC boosted its stake in shares of Travelers Companies by 3.7% during the 1st quarter. Windsor Capital Management LLC now owns 1,351 shares of the insurance provider's stock worth $357,000 after buying an additional 48 shares during the last quarter. 82.45% of the stock is owned by institutional investors and hedge funds.

Travelers Companies Trading Up 1.3%

Shares of NYSE:TRV traded up $3.33 during mid-day trading on Thursday, reaching $262.25. 429,319 shares of the company's stock were exchanged, compared to its average volume of 1,342,839. The firm has a market capitalization of $59.04 billion, a price-to-earnings ratio of 11.60, a PEG ratio of 3.04 and a beta of 0.51. The business's fifty day moving average price is $264.54 and its 200-day moving average price is $257.39. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.33 and a current ratio of 0.33. The Travelers Companies, Inc. has a twelve month low of $206.43 and a twelve month high of $277.83.

Travelers Companies (NYSE:TRV - Get Free Report) last released its earnings results on Thursday, July 17th. The insurance provider reported $6.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.52 by $2.99. The business had revenue of $11.54 billion for the quarter, compared to analyst estimates of $11.02 billion. Travelers Companies had a net margin of 10.97% and a return on equity of 18.68%. Travelers Companies's revenue for the quarter was up 7.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.51 earnings per share. On average, research analysts predict that The Travelers Companies, Inc. will post 17.02 EPS for the current fiscal year.

Travelers Companies Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Wednesday, September 10th will be issued a dividend of $1.10 per share. The ex-dividend date of this dividend is Wednesday, September 10th. This represents a $4.40 annualized dividend and a dividend yield of 1.68%. Travelers Companies's dividend payout ratio is currently 19.46%.

Analysts Set New Price Targets

A number of research firms have recently commented on TRV. Wall Street Zen upgraded shares of Travelers Companies from a "hold" rating to a "buy" rating in a research note on Friday, July 18th. Morgan Stanley set a $269.00 target price on shares of Travelers Companies and gave the company an "equal weight" rating in a report on Monday, May 19th. JPMorgan Chase & Co. upped their target price on shares of Travelers Companies from $260.00 to $271.00 and gave the company an "underweight" rating in a report on Tuesday, April 8th. Wells Fargo & Company upped their target price on shares of Travelers Companies from $264.00 to $275.00 and gave the company an "equal weight" rating in a report on Friday, July 18th. Finally, Evercore ISI upped their target price on shares of Travelers Companies from $288.00 to $296.00 and gave the company an "outperform" rating in a report on Thursday, April 17th. Two analysts have rated the stock with a sell rating, eleven have assigned a hold rating and seven have issued a buy rating to the company's stock. Based on data from MarketBeat, Travelers Companies presently has an average rating of "Hold" and an average target price of $279.82.

Insider Activity

In related news, insider Avrohom J. Kess sold 23,434 shares of the company's stock in a transaction dated Thursday, May 29th. The shares were sold at an average price of $273.93, for a total value of $6,419,275.62. Following the sale, the insider owned 48,387 shares in the company, valued at $13,254,650.91. This represents a 32.63% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Daniel S. Frey sold 20,286 shares of the stock in a transaction dated Thursday, May 29th. The shares were sold at an average price of $273.48, for a total transaction of $5,547,815.28. Following the completion of the sale, the chief financial officer owned 26,932 shares of the company's stock, valued at approximately $7,365,363.36. This trade represents a 42.96% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 175,374 shares of company stock valued at $47,929,912. Corporate insiders own 1.46% of the company's stock.

Travelers Companies Profile

The Travelers Companies, Inc, through its subsidiaries, provides a range of commercial and personal property, and casualty insurance products and services to businesses, government units, associations, and individuals in the United States and internationally. The company operates through three segments: Business Insurance, Bond & Specialty Insurance, and Personal Insurance.