Insider Selling: Travelers Companies (NYSE:TRV) CEO Sells $16,424,515.10 in Stock

The Travelers Companies, Inc. (NYSE:TRV) CEO Alan Schnitzer sold 55,733 shares of the business’s stock in a transaction on Wednesday, February 4th. The stock was sold at an average price of $294.70, for a total transaction of $16,424,515.10. Following the sale, the chief executive officer owned 260,329 shares in the company, valued at $76,718,956.30. The trade was a 17.63% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink.

Travelers Companies Stock Up 0.5%

Shares of NYSE TRV opened at $301.80 on Friday. The firm has a 50-day moving average price of $284.82 and a 200 day moving average price of $277.90. The stock has a market capitalization of $67.32 billion, a price-to-earnings ratio of 10.96, a price-to-earnings-growth ratio of 2.79 and a beta of 0.51. The company has a quick ratio of 0.35, a current ratio of 0.33 and a debt-to-equity ratio of 0.28. The Travelers Companies, Inc. has a 52 week low of $230.43 and a 52 week high of $304.40.

Travelers Companies (NYSE:TRV) last released its quarterly earnings results on Wednesday, January 21st. The insurance provider reported $11.13 earnings per share for the quarter, topping analysts’ consensus estimates of $8.34 by $2.79. The business had revenue of $12.43 billion for the quarter, compared to analysts’ expectations of $11.13 billion. Travelers Companies had a return on equity of 20.70% and a net margin of 12.88%.The company’s revenue was up 3.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $9.15 EPS. Equities research analysts anticipate that The Travelers Companies, Inc. will post 17.02 EPS for the current fiscal year.

Travelers Companies announced that its Board of Directors 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 buy up to 8.3% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s board of directors believes its shares are undervalued.

Travelers Companies Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Tuesday, March 10th will be given a dividend of $1.10 per share. 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 payout ratio is presently 15.98%.

Hedge Funds Weigh In On Travelers Companies

Hedge funds have recently added to or reduced their stakes in the business. Americana Partners LLC bought a new position in shares of Travelers Companies in the 4th quarter worth about $1,300,000. FourThought Financial Partners LLC grew its stake in shares of Travelers Companies by 12.8% in the fourth quarter. FourThought Financial Partners LLC now owns 936 shares of the insurance provider’s stock worth $271,000 after purchasing an additional 106 shares in the last quarter. Mach 1 Financial Group LLC bought a new position in Travelers Companies in the 4th quarter valued at about $293,000. Fi3 FINANCIAL ADVISORS LLC bought a new position in shares of Travelers Companies in the fourth quarter valued at approximately $221,000. Finally, Leonteq Securities AG bought a new position in Travelers Companies during the 4th quarter valued at $66,000. Institutional investors and hedge funds own 82.45% of the company’s stock.

Analysts Set New Price Targets

TRV has been the subject of a number of recent research reports. Citigroup reiterated a “neutral” rating on shares of Travelers Companies in a research report on Tuesday, January 27th. JPMorgan Chase & Co. lifted their price target on shares of Travelers Companies from $302.00 to $305.00 and gave the company an “underweight” rating in a report on Wednesday, January 7th. UBS Group reaffirmed a “neutral” rating on shares of Travelers Companies in a research note on Monday, February 2nd. Cantor Fitzgerald lifted their target price on shares of Travelers Companies from $316.00 to $319.00 and gave the company an “overweight” rating in a report on Monday, February 2nd. Finally, Keefe, Bruyette & Woods raised their target price on Travelers Companies from $317.00 to $320.00 and gave the company an “outperform” rating in a report on Friday, January 23rd. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, ten have assigned a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $303.00.

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.