JPMorgan Chase & Co. Grows Stake in The Travelers Companies, Inc. $TRV

JPMorgan Chase & Co. boosted its holdings in shares of The Travelers Companies, Inc. (NYSE:TRV) by 1.6% during the 3rd quarter, Holdings Channel reports. The firm owned 7,746,231 shares of the insurance provider’s stock after buying an additional 119,481 shares during the period. JPMorgan Chase & Co.’s holdings in Travelers Companies were worth $2,162,917,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in TRV. Barnes Dennig Private Wealth Management LLC boosted its position in shares of Travelers Companies by 134.1% during the third quarter. Barnes Dennig Private Wealth Management LLC now owns 96 shares of the insurance provider’s stock worth $27,000 after acquiring an additional 55 shares during the last quarter. Osterweis Capital Management Inc. lifted its stake in Travelers Companies by 1,820.0% in 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 in the last quarter. Delos Wealth Advisors LLC bought a new position in shares of Travelers Companies during the 2nd quarter valued at about $27,000. Clayton Financial Group LLC purchased a new position in shares of Travelers Companies during the third quarter valued at about $28,000. Finally, Quaker Wealth Management LLC increased its holdings in shares of Travelers Companies by 200.0% in the second quarter. Quaker Wealth Management LLC now owns 104 shares of the insurance provider’s stock worth $28,000 after purchasing an additional 208 shares during the last quarter. 82.45% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on TRV. Keefe, Bruyette & Woods lifted their price objective on Travelers Companies from $317.00 to $320.00 and gave the stock an “outperform” rating in a research note on Friday, January 23rd. Cantor Fitzgerald raised 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. Citigroup reaffirmed a “neutral” rating on shares of Travelers Companies in a research note on Tuesday, January 27th. Evercore increased their price objective on shares of Travelers Companies from $309.00 to $317.00 and gave the company an “outperform” rating in a research report on Wednesday, January 7th. Finally, Morgan Stanley boosted their target price on shares of Travelers Companies from $285.00 to $295.00 and gave the stock an “equal weight” rating in a report on Monday, November 17th. Two investment analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating, ten have issued a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $303.00.

Travelers Companies Trading Down 1.2%

Shares of NYSE TRV opened at $293.75 on Tuesday. The Travelers Companies, Inc. has a fifty-two week low of $230.43 and a fifty-two week high of $304.40. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.33 and a current ratio of 0.33. The company has a market cap of $63.52 billion, a price-to-earnings ratio of 10.67, a PEG ratio of 2.74 and a beta of 0.51. The business’s 50 day moving average price is $286.21 and its 200-day moving average price is $279.53.

Travelers Companies (NYSE:TRV) last posted its quarterly earnings data on Wednesday, January 21st. The insurance provider reported $11.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $8.34 by $2.79. Travelers Companies had a return on equity of 20.70% and a net margin of 12.88%.The company had revenue of $12.43 billion during the quarter, compared to analysts’ expectations of $11.13 billion. During the same quarter in the previous year, the business earned $9.15 EPS. Travelers Companies’s revenue was up 3.5% compared to the same quarter last year. On average, sell-side analysts expect that The Travelers Companies, Inc. will post 17.02 earnings per share for the current year.

Travelers Companies Dividend Announcement

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

Travelers Companies declared that its board has initiated a share repurchase program on Wednesday, January 21st that permits the company to buyback $5.00 billion in outstanding shares. This buyback authorization permits the insurance provider to reacquire up to 8.3% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s management believes its shares are undervalued.

Insider Activity at Travelers Companies

In other Travelers Companies news, EVP Michael Frederick Klein sold 10,000 shares of the company’s stock in a transaction dated Friday, February 6th. The shares were sold at an average price of $301.18, for a total value of $3,011,800.00. Following the transaction, the executive vice president directly owned 33,638 shares in the company, valued at $10,131,092.84. This represents a 22.92% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Alan D. Schnitzer sold 55,733 shares of Travelers Companies stock in a transaction that occurred on Wednesday, February 4th. The shares were sold at an average price of $294.70, for a total transaction of $16,424,515.10. Following the sale, the chief executive officer directly owned 260,329 shares of the company’s stock, valued at $76,718,956.30. This represents a 17.63% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 101,765 shares of company stock worth $29,877,543. Corporate insiders own 1.46% of the company’s stock.

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.