Cibc World Market Inc. Buys 3,033 Shares of The Travelers Companies, Inc. $TRV

Cibc World Market Inc. raised its stake in shares of The Travelers Companies, Inc. (NYSE:TRV) by 127.2% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 5,417 shares of the insurance provider’s stock after purchasing an additional 3,033 shares during the period. Cibc World Market Inc.’s holdings in Travelers Companies were worth $1,571,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Norges Bank purchased a new stake in Travelers Companies in the 4th quarter worth $723,339,000. AustralianSuper Pty Ltd boosted its stake in shares of Travelers Companies by 102.0% in the fourth quarter. AustralianSuper Pty Ltd now owns 908,559 shares of the insurance provider’s stock worth $263,537,000 after acquiring an additional 458,746 shares during the period. Woodline Partners LP bought a new position in shares of Travelers Companies in the third quarter worth about $99,680,000. AQR Capital Management LLC boosted its stake in shares of Travelers Companies by 22.8% in the third quarter. AQR Capital Management LLC now owns 1,785,288 shares of the insurance provider’s stock worth $496,872,000 after acquiring an additional 331,170 shares during the period. Finally, Adage Capital Partners GP L.L.C. boosted its stake in shares of Travelers Companies by 258.5% in the second quarter. Adage Capital Partners GP L.L.C. now owns 372,513 shares of the insurance provider’s stock worth $99,662,000 after acquiring an additional 268,600 shares during the period. 82.45% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Travelers Companies

In other Travelers Companies news, EVP Michael Frederick Klein sold 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $307.65, for a total transaction of $3,076,500.00. Following the sale, the executive vice president directly owned 45,125 shares in the company, valued at $13,882,706.25. This represents a 18.14% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. 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 shares were sold at an average price of $310.64, for a total value of $483,666.48. Following the sale, the insider owned 259,590 shares in the company, valued at approximately $80,639,037.60. This trade represents a 0.60% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 37,573 shares of company stock valued at $11,504,146. Corporate insiders own 1.39% of the company’s stock.

Travelers Companies Price Performance

Shares of Travelers Companies stock opened at $300.03 on Wednesday. The stock has a 50 day moving average of $299.45 and a 200 day moving average of $294.24. The Travelers Companies, Inc. has a 12 month low of $249.19 and a 12 month high of $313.12. The firm has a market cap of $63.80 billion, a PE ratio of 8.93, a PEG ratio of 2.68 and a beta of 0.48. 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 announced its quarterly earnings results on Thursday, April 16th. The insurance provider reported $7.71 EPS 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 during the quarter, compared to analyst estimates of $11.11 billion. During the same period in the prior year, the company earned $1.91 earnings per share. The firm’s revenue was down 1.7% on a year-over-year basis. On average, research analysts expect that The Travelers Companies, Inc. will post 28 EPS 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. Investors of record on Wednesday, June 10th will be paid a dividend of $1.25 per share. The ex-dividend date of this dividend is Wednesday, June 10th. This is a boost from Travelers Companies’s previous quarterly dividend of $1.10. This represents a $5.00 dividend on an annualized basis and a yield of 1.7%. Travelers Companies’s dividend payout ratio is currently 13.09%.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on TRV shares. Bank of America dropped their price objective on Travelers Companies from $259.00 to $257.00 and set an “underperform” rating for the company in a research note on Tuesday, April 14th. Barclays upped their price objective on Travelers Companies from $312.00 to $331.00 and gave the stock an “equal weight” rating in a research note on Wednesday, April 8th. Brean Capital started coverage on Travelers Companies in a research note on Thursday, March 12th. They issued a “neutral” rating for the company. Keefe, Bruyette & Woods upped their price objective on Travelers Companies from $340.00 to $342.00 and gave the stock an “outperform” rating in a research note on Monday, April 20th. Finally, Evercore reaffirmed an “outperform” rating on shares of Travelers Companies in a research note on Friday, April 17th. Two investment analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating, eleven have assigned a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $311.47.

Travelers Companies Company Profile

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.