Capital Planning Advisors LLC increased its stake in shares of Travelers Companies Inc (NYSE:TRV) by 6.8% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 18,379 shares of the insurance provider’s stock after buying an additional 1,176 shares during the quarter. Capital Planning Advisors LLC’s holdings in Travelers Companies were worth $2,493,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently made changes to their positions in the company. Robeco Institutional Asset Management B.V. acquired a new position in Travelers Companies during the third quarter valued at $78,058,000. APG Asset Management N.V. lifted its position in Travelers Companies by 12.5% during the third quarter. APG Asset Management N.V. now owns 2,735,245 shares of the insurance provider’s stock valued at $335,122,000 after purchasing an additional 304,900 shares during the period. Koch Industries Inc. acquired a new position in Travelers Companies during the second quarter valued at $279,000. Canada Pension Plan Investment Board lifted its position in Travelers Companies by 89.4% during the third quarter. Canada Pension Plan Investment Board now owns 594,243 shares of the insurance provider’s stock valued at $72,807,000 after purchasing an additional 280,500 shares during the period. Finally, Marathon Asset Management LLP lifted its position in Travelers Companies by 26.6% during the fourth quarter. Marathon Asset Management LLP now owns 1,264,352 shares of the insurance provider’s stock valued at $171,500,000 after purchasing an additional 265,724 shares during the period. 78.59% of the stock is currently owned by hedge funds and other institutional investors.
In related news, COO Brian W. Maclean sold 88,607 shares of the company’s stock in a transaction dated Friday, January 26th. The shares were sold at an average price of $149.29, for a total transaction of $13,228,139.03. Following the completion of the transaction, the chief operating officer now owns 211,293 shares in the company, valued at approximately $31,543,931.97. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Maria Olivo sold 33,225 shares of the company’s stock in a transaction dated Wednesday, November 29th. The stock was sold at an average price of $134.18, for a total transaction of $4,458,130.50. The disclosure for this sale can be found here. In the last quarter, insiders sold 181,599 shares of company stock valued at $26,221,541. Insiders own 0.82% of the company’s stock.
Travelers Companies (NYSE:TRV) last issued its quarterly earnings data on Tuesday, January 23rd. The insurance provider reported $2.28 earnings per share for the quarter, missing analysts’ consensus estimates of $2.56 by ($0.28). The firm had revenue of $7.45 billion during the quarter, compared to analyst estimates of $6.47 billion. Travelers Companies had a return on equity of 8.61% and a net margin of 7.13%. The company’s revenue was up 3.6% on a year-over-year basis. During the same quarter last year, the company posted $3.20 EPS. sell-side analysts expect that Travelers Companies Inc will post 10.59 EPS for the current year.
Travelers Companies declared that its board has authorized a stock repurchase program on Thursday, November 9th that authorizes the company to buyback shares. This buyback authorization authorizes the insurance provider to reacquire shares of its stock through open market purchases. Stock buyback programs are often an indication that the company’s leadership believes its shares are undervalued.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 30th. Shareholders of record on Friday, March 9th will be given a $0.72 dividend. The ex-dividend date is Thursday, March 8th. This represents a $2.88 dividend on an annualized basis and a dividend yield of 2.05%. Travelers Companies’s dividend payout ratio (DPR) is currently 39.40%.
A number of research analysts recently issued reports on TRV shares. Royal Bank of Canada restated a “buy” rating and set a $148.00 target price on shares of Travelers Companies in a research report on Friday, December 8th. Keefe, Bruyette & Woods restated a “buy” rating and set a $152.00 target price on shares of Travelers Companies in a research report on Wednesday, December 6th. Citigroup boosted their target price on shares of Travelers Companies from $143.00 to $151.00 and gave the company a “buy” rating in a research report on Friday, October 20th. Zacks Investment Research upgraded shares of Travelers Companies from a “hold” rating to a “buy” rating and set a $148.00 target price for the company in a research report on Friday, January 5th. Finally, Bank of America upgraded shares of Travelers Companies from a “neutral” rating to a “buy” rating in a research report on Tuesday, January 9th. Three analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have assigned a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $136.07.
Travelers Companies Profile
The Travelers Companies, Inc is a holding company. The Company’s segments include Business and International Insurance; Bond & Specialty Insurance, and Personal Insurance. Through its subsidiaries, it provides commercial and personal property and casualty insurance products and services. The Business and International Insurance segment offers property and casualty insurance and insurance related services to its clients, in the United States and in Canada, as well as in the United Kingdom, the Republic of Ireland, Brazil and throughout other parts of the world.
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