Bleakley Financial Group LLC Purchases New Position in The Travelers Companies, Inc. $TRV

Bleakley Financial Group LLC purchased a new stake in The Travelers Companies, Inc. (NYSE:TRV) in the fourth quarter, Holdings Channel.com reports. The institutional investor purchased 10,580 shares of the insurance provider’s stock, valued at approximately $3,069,000.

Several other large investors have also modified their holdings of the company. Kestra Investment Management LLC boosted its holdings in shares of Travelers Companies by 4.5% in the fourth quarter. Kestra Investment Management LLC now owns 2,292 shares of the insurance provider’s stock valued at $665,000 after acquiring an additional 99 shares during the period. CBIZ Investment Advisory Services LLC lifted its holdings in shares of Travelers Companies by 350.9% during the fourth quarter. CBIZ Investment Advisory Services LLC now owns 257 shares of the insurance provider’s stock worth $75,000 after purchasing an additional 200 shares during the period. Harbour Investments Inc. lifted its holdings in shares of Travelers Companies by 399.3% during the fourth quarter. Harbour Investments Inc. now owns 6,061 shares of the insurance provider’s stock worth $1,758,000 after purchasing an additional 4,847 shares during the period. Allstate Corp lifted its holdings in shares of Travelers Companies by 115.6% during the fourth quarter. Allstate Corp now owns 17,668 shares of the insurance provider’s stock worth $5,125,000 after purchasing an additional 9,475 shares during the period. Finally, Fisher Asset Management LLC lifted its holdings in shares of Travelers Companies by 2.4% during the fourth quarter. Fisher Asset Management LLC now owns 2,266 shares of the insurance provider’s stock worth $658,000 after purchasing an additional 54 shares during the period. 82.45% of the stock is owned by institutional investors and hedge funds.

Travelers Companies Trading Down 1.6%

Shares of TRV stock opened at $299.97 on Thursday. The Travelers Companies, Inc. has a fifty-two week low of $249.19 and a fifty-two week high of $313.12. The stock has a market cap of $63.79 billion, a P/E ratio of 8.93, a P/E/G ratio of 2.75 and a beta of 0.50. The business has a fifty day simple moving average of $299.51 and a 200-day simple moving average of $293.63. The company has a quick ratio of 0.35, a current ratio of 0.35 and a debt-to-equity ratio of 0.29.

Travelers Companies (NYSE:TRV) last announced its quarterly earnings results on Thursday, April 16th. The insurance provider reported $7.71 earnings per share for the quarter, beating analysts’ consensus estimates of $6.80 by $0.91. Travelers Companies had a return on equity of 24.06% and a net margin of 15.54%.The business had revenue of $11.92 billion during the quarter, compared to analysts’ expectations of $11.11 billion. During the same quarter last year, the business posted $1.91 earnings per share. The business’s revenue for the quarter was down 1.7% on a year-over-year basis. On average, analysts forecast that The Travelers Companies, Inc. will post 28.03 earnings per share 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. Stockholders of record on Wednesday, June 10th will be given 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 is Wednesday, June 10th. Travelers Companies’s dividend payout ratio (DPR) is 13.09%.

Analyst Ratings Changes

TRV has been the subject of several recent research reports. Roth Mkm reaffirmed a “buy” rating on shares of Travelers Companies in a report on Monday, April 20th. Bank of America decreased their price target on Travelers Companies from $259.00 to $257.00 and set an “underperform” rating for the company in a report on Tuesday, April 14th. Wells Fargo & Company increased their price target on Travelers Companies from $285.00 to $305.00 and gave the stock an “equal weight” rating in a report on Thursday, April 9th. Barclays increased their price target on Travelers Companies from $312.00 to $331.00 and gave the stock an “equal weight” rating in a report on Wednesday, April 8th. Finally, JPMorgan Chase & Co. raised Travelers Companies from an “underweight” rating to a “neutral” rating and increased their price target for the stock from $316.00 to $322.00 in a report on Tuesday. Two analysts have rated the stock with a Strong Buy rating, six have given a Buy rating, eleven have assigned a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $311.47.

Insiders Place Their Bets

In related news, Vice Chairman William H. Heyman sold 1,557 shares of the stock in a transaction 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 sale, the insider owned 259,590 shares of the company’s stock, valued at $80,639,037.60. This trade represents a 0.60% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Diane Kurtzman sold 2,867 shares of the stock in a transaction on Monday, April 20th. The shares were sold at an average price of $303.45, for a total value of $869,991.15. Following the sale, the executive vice president directly owned 5,298 shares in the company, valued at approximately $1,607,678.10. The trade was a 35.11% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 37,573 shares of company stock valued at $11,504,146. Company insiders own 1.39% of the company’s stock.

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.