Allworth Financial LP Acquires 40,709 Shares of The Travelers Companies, Inc. $TRV

Allworth Financial LP grew its holdings in shares of The Travelers Companies, Inc. (NYSE:TRV) by 431.0% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 50,155 shares of the insurance provider’s stock after acquiring an additional 40,709 shares during the quarter. Allworth Financial LP’s holdings in Travelers Companies were worth $14,548,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in TRV. Osterweis Capital Management Inc. lifted its stake in Travelers Companies by 1,820.0% in the second quarter. Osterweis Capital Management Inc. now owns 96 shares of the insurance provider’s stock worth $26,000 after purchasing an additional 91 shares during the last quarter. Kohmann Bosshard Financial Services LLC bought a new stake in shares of Travelers Companies in the 4th quarter valued at about $28,000. Navalign LLC purchased a new stake in Travelers Companies during the 4th quarter valued at about $35,000. eCIO Inc. bought a new position in Travelers Companies during the 4th quarter worth approximately $37,000. Finally, Optima Capital LLC bought a new position in Travelers Companies during the 4th quarter worth approximately $38,000. 82.45% of the stock is currently owned by institutional investors.

Travelers Companies Trading Up 1.1%

Shares of NYSE TRV opened at $298.32 on Friday. The Travelers Companies, Inc. has a 1 year low of $249.19 and a 1 year 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 firm has a 50-day moving average of $299.39 and a 200 day moving average of $291.51. The stock has a market cap of $63.44 billion, a P/E ratio of 8.88, a price-to-earnings-growth ratio of 2.66 and a beta of 0.50.

Travelers Companies (NYSE:TRV) last announced its quarterly earnings data on Thursday, April 16th. The insurance provider reported $7.71 earnings per share for the quarter, topping analysts’ consensus estimates of $6.80 by $0.91. The business had revenue of $11.92 billion for 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 revenue was down 1.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.91 earnings per share. As a group, sell-side analysts expect that The Travelers Companies, Inc. will post 28.03 EPS for the current fiscal year.

Travelers Companies declared that its board has initiated a stock repurchase plan on Wednesday, January 21st that allows the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization allows the insurance provider to repurchase up to 8.3% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s management believes its stock is undervalued.

Travelers Companies Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Wednesday, June 10th will be paid a $1.25 dividend. This is an increase from Travelers Companies’s previous quarterly dividend of $1.10. This represents a $5.00 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date of this dividend is Wednesday, June 10th. Travelers Companies’s payout ratio is currently 13.09%.

Insider Activity

In related news, EVP Michael Frederick Klein sold 10,000 shares of the stock in a transaction dated 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 sale, the executive vice president directly owned 45,125 shares of the company’s stock, valued at approximately $13,707,621.25. This represents a 18.14% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Vice Chairman William H. Heyman sold 1,557 shares of the company’s stock in a transaction that occurred on Tuesday, April 28th. The stock was sold at an average price of $310.64, for a total transaction of $483,666.48. Following the completion of the transaction, the insider owned 259,590 shares in the company, valued at approximately $80,639,037.60. This represents a 0.60% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 27,573 shares of company stock valued at $8,427,646. 1.39% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several analysts have weighed in on TRV shares. Roth Mkm reiterated a “buy” rating on shares of Travelers Companies in a research report on Monday, April 20th. Wells Fargo & Company lifted their target price on shares of Travelers Companies from $285.00 to $305.00 and gave the stock an “equal weight” rating in a research note on Thursday, April 9th. Weiss Ratings reissued a “buy (a-)” rating on shares of Travelers Companies in a research report on Friday, May 8th. Mizuho cut their price target on shares of Travelers Companies from $315.00 to $304.00 and set a “neutral” rating on the stock in a report on Thursday, January 22nd. Finally, Citigroup restated a “neutral” rating on shares of Travelers Companies in a research report on Tuesday, January 27th. Two investment analysts have rated the stock with a Strong Buy rating, six have given a Buy rating, ten have assigned a Hold rating and three have assigned a Sell rating to the company’s stock. According to data from MarketBeat, Travelers Companies currently has a consensus rating of “Hold” and an average price target of $309.13.

About Travelers Companies

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.