ABC Arbitrage SA Increases Stock Holdings in The Travelers Companies, Inc. $TRV

ABC Arbitrage SA boosted its position in shares of The Travelers Companies, Inc. (NYSE:TRV) by 969.2% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,740 shares of the insurance provider’s stock after purchasing an additional 10,642 shares during the period. ABC Arbitrage SA’s holdings in Travelers Companies were worth $3,424,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. HHM Wealth Advisors LLC grew its stake in shares of Travelers Companies by 145.7% during the first quarter. HHM Wealth Advisors LLC now owns 86 shares of the insurance provider’s stock valued at $25,000 after acquiring an additional 51 shares in the last quarter. Whipplewood Advisors LLC acquired a new stake in Travelers Companies during the 1st quarter valued at approximately $26,000. Kemnay Advisory Services Inc. purchased a new stake in Travelers Companies during the 4th quarter worth approximately $26,000. Osterweis Capital Management Inc. increased its holdings in Travelers Companies by 1,820.0% during the 2nd 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. Finally, Kohmann Bosshard Financial Services LLC acquired a new position in shares of Travelers Companies in the 4th quarter valued at approximately $28,000. Institutional investors and hedge funds own 82.45% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on TRV shares. Mizuho increased their price objective on shares of Travelers Companies from $304.00 to $324.00 and gave the company a “neutral” rating in a research note on Thursday, July 9th. Wells Fargo & Company boosted their price objective on Travelers Companies from $295.00 to $334.00 and gave the company an “equal weight” rating in a report on Thursday, July 9th. Roth Capital reaffirmed a “buy” rating on shares of Travelers Companies in a report on Monday, April 20th. Keefe, Bruyette & Woods reiterated a “market perform” rating and issued a $356.00 target price (up from $342.00) on shares of Travelers Companies in a research report on Wednesday, July 8th. Finally, Piper Sandler reissued an “overweight” rating and set a $340.00 price target on shares of Travelers Companies in a research report on Monday. Three investment analysts have rated the stock with a Strong Buy rating, five have given a Buy rating, thirteen have given a Hold rating and four have assigned a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $331.21.

Insiders Place Their Bets

In related news, Vice Chairman William H. Heyman sold 1,557 shares of the firm’s stock in a transaction that occurred on Tuesday, April 28th. The shares were sold at an average price of $310.64, for a total transaction of $483,666.48. Following the transaction, the insider owned 259,590 shares in the company, 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 through the SEC website. Also, EVP Jeffrey P. Klenk sold 6,414 shares of the company’s stock in a transaction that occurred on Monday, April 20th. The stock was sold at an average price of $305.06, for a total value of $1,956,654.84. Following the completion of the sale, the executive vice president owned 6,075 shares of the company’s stock, valued at $1,853,239.50. This trade represents a 51.36% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 37,573 shares of company stock valued at $11,504,146. 1.39% of the stock is currently owned by insiders.

Travelers Companies Price Performance

NYSE TRV opened at $341.31 on Tuesday. The company has a 50-day moving average price of $310.91 and a two-hundred day moving average price of $300.16. The Travelers Companies, Inc. has a 52 week low of $249.19 and a 52 week high of $349.35. The stock has a market cap of $72.58 billion, a price-to-earnings ratio of 10.15, a price-to-earnings-growth ratio of 3.04 and a beta of 0.46. The company has a current ratio of 0.35, a quick ratio of 0.35 and a debt-to-equity ratio of 0.29.

Travelers Companies (NYSE:TRV) last released 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 company had revenue of $11.92 billion for the quarter, compared to analysts’ expectations of $11.11 billion. During the same quarter in the previous year, the company posted $1.91 earnings per share. The business’s revenue for the quarter was down 1.7% compared to the same quarter last year. Analysts forecast that The Travelers Companies, Inc. will post 28.17 EPS for the current year.

Travelers Companies Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Wednesday, June 10th were paid a $1.25 dividend. The ex-dividend date of this dividend was Wednesday, June 10th. This represents a $5.00 dividend on an annualized basis and a dividend yield of 1.5%. This is an increase from Travelers Companies’s previous quarterly dividend of $1.10. Travelers Companies’s dividend payout ratio (DPR) is currently 14.88%.

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.