Jeffrey Klenk Sells 6,414 Shares of Travelers Companies (NYSE:TRV) Stock

Key Points

• EVP Jeffrey Klenk sold 6,414 shares at an average price of $305.06 for about $1.96M, trimming his stake by 51.36% to 6,075 shares valued at roughly $1.85M.
• Travelers beat expectations for the quarter, reporting $7.71 EPS versus a $6.80 consensus and revenue of $11.92B (consensus $11.11B), with a 24.06% return on equity and a 15.54% net margin.
• The company boosted shareholder returns by raising the quarterly dividend to $1.25 (annualized $5.00, ~1.7% yield) and authorizing a up to $5.0B stock buyback (about 8.3% of shares).

The Travelers Companies, Inc. (NYSE:TRV - Get Free Report) EVP Jeffrey Klenk sold 6,414 shares of the company's stock in a transaction that occurred on Monday, April 20th. The shares were sold at an average price of $305.06, for a total value of $1,956,654.84. Following the transaction, the executive vice president owned 6,075 shares of the company's stock, valued at approximately $1,853,239.50. This represents a 51.36% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Travelers Companies Trading Up 0.2%

Shares of Travelers Companies stock traded up $0.61 during midday trading on Tuesday, reaching $301.39. 2,183,711 shares of the company's stock traded hands, compared to its average volume of 1,605,191. 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 company has a market cap of $64.09 billion, a PE ratio of 8.97, a price-to-earnings-growth ratio of 2.78 and a beta of 0.51. The stock has a 50 day moving average of $299.66 and a 200-day moving average of $288.26. The Travelers Companies, Inc. has a 12 month low of $249.19 and a 12 month high of $313.12.

Travelers Companies (NYSE:TRV - Get Free Report) last announced its earnings results on Thursday, April 16th. The insurance provider reported $7.71 EPS for the quarter, beating analysts' consensus estimates of $6.80 by $0.91. The company had revenue of $11.92 billion during the quarter, compared to the consensus estimate of $11.11 billion. Travelers Companies had a return on equity of 24.06% and a net margin of 15.54%.The firm's revenue for the quarter was down 1.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.91 earnings per share. As a group, equities analysts expect that The Travelers Companies, Inc. will post 27.37 EPS for the current fiscal year.

Travelers Companies Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Wednesday, June 10th will be paid a $1.25 dividend. The ex-dividend date of this dividend is Wednesday, June 10th. This is a positive change from Travelers Companies's previous quarterly dividend of $1.10. This represents a $5.00 annualized dividend and a yield of 1.7%. Travelers Companies's payout ratio is currently 13.09%.

Travelers Companies announced that its Board of Directors has authorized a stock buyback program on Wednesday, January 21st that permits the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization permits the insurance provider to purchase up to 8.3% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company's leadership believes its shares are undervalued.

Institutional Investors Weigh In On Travelers Companies

Institutional investors have recently modified their holdings of the stock. Varma Mutual Pension Insurance Co grew its stake in shares of Travelers Companies by 21.7% in the third quarter. Varma Mutual Pension Insurance Co now owns 48,247 shares of the insurance provider's stock worth $13,472,000 after acquiring an additional 8,600 shares during the last quarter. Peregrine Asset Advisers Inc. purchased a new stake in shares of Travelers Companies during the third quarter valued at $7,955,000. National Pension Service boosted its position in shares of Travelers Companies by 1.8% during the third quarter. National Pension Service now owns 746,883 shares of the insurance provider's stock valued at $208,545,000 after buying an additional 13,120 shares during the last quarter. Liberty One Investment Management LLC boosted its position in shares of Travelers Companies by 32.3% during the third quarter. Liberty One Investment Management LLC now owns 26,228 shares of the insurance provider's stock valued at $7,323,000 after buying an additional 6,408 shares during the last quarter. Finally, Elo Mutual Pension Insurance Co boosted its position in shares of Travelers Companies by 24.9% during the third quarter. Elo Mutual Pension Insurance Co now owns 34,871 shares of the insurance provider's stock valued at $9,737,000 after buying an additional 6,954 shares during the last quarter. 82.45% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

TRV has been the topic of several recent research reports. Roth Mkm reaffirmed a "buy" rating on shares of Travelers Companies in a research note on Monday. UBS Group reaffirmed a "neutral" rating on shares of Travelers Companies in a research note on Monday, February 2nd. Weiss Ratings raised Travelers Companies from a "buy (b+)" rating to a "buy (a-)" rating in a research note on Monday, February 9th. 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. Finally, 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. Two equities research analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating, ten have given a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat.com, the company 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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