Mirae Asset Global Investments Co. Ltd. Acquires 13,957 Shares of The Travelers Companies, Inc. $TRV

Mirae Asset Global Investments Co. Ltd. grew its holdings in The Travelers Companies, Inc. (NYSE:TRV) by 27.5% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 64,696 shares of the insurance provider’s stock after purchasing an additional 13,957 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Travelers Companies were worth $18,064,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Truist Financial Corp increased its holdings in Travelers Companies by 2.9% during the third quarter. Truist Financial Corp now owns 148,487 shares of the insurance provider’s stock valued at $41,460,000 after buying an additional 4,246 shares during the period. Principle Wealth Partners LLC increased its holdings in shares of Travelers Companies by 3.6% in the 3rd quarter. Principle Wealth Partners LLC now owns 15,927 shares of the insurance provider’s stock valued at $4,447,000 after acquiring an additional 550 shares during the period. Marino Stram & Associates LLC raised its position in shares of Travelers Companies by 19.2% in the 3rd quarter. Marino Stram & Associates LLC now owns 1,335 shares of the insurance provider’s stock worth $373,000 after acquiring an additional 215 shares in the last quarter. Phoenix Financial Ltd. lifted its stake in shares of Travelers Companies by 65.1% during the 3rd quarter. Phoenix Financial Ltd. now owns 5,695 shares of the insurance provider’s stock worth $1,591,000 after purchasing an additional 2,245 shares during the last quarter. Finally, Belpointe Asset Management LLC boosted its position in Travelers Companies by 20.6% during the third quarter. Belpointe Asset Management LLC now owns 6,548 shares of the insurance provider’s stock valued at $1,828,000 after purchasing an additional 1,118 shares in the last quarter. 82.45% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Travelers Companies

In other Travelers Companies news, CFO Daniel S. Frey sold 25,000 shares of the firm’s stock in a transaction that occurred on Thursday, November 6th. The shares were sold at an average price of $278.25, for a total transaction of $6,956,250.00. Following the completion of the transaction, the chief financial officer directly owned 26,932 shares of the company’s stock, valued at approximately $7,493,829. This trade represents a 48.14% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Maria Olivo sold 8,920 shares of the company’s stock in a transaction on Wednesday, November 26th. The shares were sold at an average price of $295.73, for a total transaction of $2,637,911.60. Following the completion of the sale, the executive vice president directly owned 117,596 shares in the company, valued at $34,776,665.08. This trade represents a 7.05% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 54,435 shares of company stock worth $15,366,736 in the last 90 days. Corporate insiders own 1.46% of the company’s stock.

Travelers Companies Trading Up 0.2%

NYSE:TRV opened at $284.73 on Friday. The Travelers Companies, Inc. has a 12 month low of $230.43 and a 12 month high of $296.85. The firm has a fifty day simple moving average of $284.77 and a 200-day simple moving average of $276.59. The company has a current ratio of 0.33, a quick ratio of 0.35 and a debt-to-equity ratio of 0.28. The company has a market capitalization of $63.51 billion, a P/E ratio of 10.34, a PEG ratio of 2.64 and a beta of 0.52.

Travelers Companies (NYSE:TRV) last released its earnings results on Wednesday, January 21st. The insurance provider reported $11.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $8.34 by $2.79. Travelers Companies had a return on equity of 20.70% and a net margin of 12.88%.The firm had revenue of $12.43 billion for the quarter, compared to the consensus estimate of $11.13 billion. During the same period in the prior year, the firm earned $9.15 EPS. The firm’s revenue was up 3.5% on a year-over-year basis. On average, equities research analysts anticipate that The Travelers Companies, Inc. will post 17.02 earnings per share for the current year.

Travelers Companies declared that its Board of Directors has initiated a stock buyback plan on Wednesday, January 21st that authorizes the company to repurchase $5.00 billion in shares. This repurchase authorization authorizes the insurance provider to buy up to 8.3% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s leadership believes its stock is undervalued.

Travelers Companies Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Tuesday, March 10th will be given a $1.10 dividend. The ex-dividend date is Tuesday, March 10th. This represents a $4.40 dividend on an annualized basis and a yield of 1.5%. Travelers Companies’s dividend payout ratio is currently 15.98%.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. Argus upgraded shares of Travelers Companies to a “strong-buy” rating in a report on Monday, January 26th. Evercore ISI boosted their price objective on shares of Travelers Companies from $309.00 to $317.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 7th. Wall Street Zen cut shares of Travelers Companies from a “buy” rating to a “hold” rating in a research report on Sunday, October 19th. Cantor Fitzgerald lifted their price target on shares of Travelers Companies from $308.00 to $316.00 and gave the stock an “overweight” rating in a report on Wednesday, January 14th. Finally, Mizuho decreased their price objective on Travelers Companies from $315.00 to $304.00 and set a “neutral” rating for the company in a report on Thursday, January 22nd. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, eleven have given a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, Travelers Companies has an average rating of “Hold” and a consensus price target of $302.80.

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.