Martingale Asset Management L P Acquires 6,283 Shares of The Travelers Companies, Inc. $TRV

Martingale Asset Management L P raised its holdings in The Travelers Companies, Inc. (NYSE:TRV) by 7.3% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 92,455 shares of the insurance provider’s stock after acquiring an additional 6,283 shares during the period. Martingale Asset Management L P’s holdings in Travelers Companies were worth $25,815,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently added to or reduced their stakes in the company. Quantitative Investment Management LLC acquired a new stake in shares of Travelers Companies in the third quarter worth $963,000. Invesco Ltd. raised its stake in Travelers Companies by 1.4% during the 3rd quarter. Invesco Ltd. now owns 1,569,670 shares of the insurance provider’s stock valued at $438,283,000 after purchasing an additional 21,892 shares during the last quarter. Seven Mile Advisory acquired a new position in Travelers Companies during the 3rd quarter valued at $306,000. Sei Investments Co. boosted its holdings in Travelers Companies by 0.4% in the 3rd quarter. Sei Investments Co. now owns 125,192 shares of the insurance provider’s stock valued at $34,958,000 after purchasing an additional 480 shares during the period. Finally, Douglass Winthrop Advisors LLC boosted its holdings in Travelers Companies by 14.4% in the 3rd quarter. Douglass Winthrop Advisors LLC now owns 6,153 shares of the insurance provider’s stock valued at $1,718,000 after purchasing an additional 776 shares during the period. 82.45% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have recently issued reports on TRV shares. Roth Mkm boosted their price objective on shares of Travelers Companies from $300.00 to $320.00 and gave the stock a “buy” rating in a report on Friday, January 23rd. Mizuho reduced their target price on shares of Travelers Companies from $315.00 to $304.00 and set a “neutral” rating for the company in a research note on Thursday, January 22nd. Barclays decreased their target price on Travelers Companies from $315.00 to $312.00 and set an “equal weight” rating on the stock in a research report on Thursday, January 8th. Zacks Research lowered Travelers Companies from a “strong-buy” rating to a “hold” rating in a research note on Monday, December 22nd. Finally, Wells Fargo & Company cut their price target on Travelers Companies from $307.00 to $285.00 and set an “equal weight” rating for the company in a report on Thursday, January 22nd. Two equities research analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating, eleven have issued a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $304.33.

Travelers Companies Trading Up 0.9%

Shares of TRV opened at $302.19 on Friday. The company has a current ratio of 0.33, a quick ratio of 0.33 and a debt-to-equity ratio of 0.28. The stock has a market cap of $65.35 billion, a PE ratio of 10.98, a PEG ratio of 2.79 and a beta of 0.49. The Travelers Companies, Inc. has a 1 year low of $230.43 and a 1 year high of $313.12. The stock has a 50 day simple moving average of $291.68 and a 200-day simple moving average of $284.05.

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

Travelers Companies Announces Dividend

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

Travelers Companies declared that its board has initiated a share repurchase plan on Wednesday, January 21st that permits the company to repurchase $5.00 billion in shares. This repurchase authorization permits the insurance provider to reacquire up to 8.3% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s management believes its stock is undervalued.

Insider Activity

In other 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 sale, the executive vice president owned 33,638 shares of the company’s stock, valued at approximately $10,131,092.84. This represents a 22.92% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Jeffrey P. Klenk sold 16,712 shares of the stock in a transaction dated Friday, January 23rd. The stock was sold at an average price of $279.77, for a total transaction of $4,675,516.24. Following the sale, the executive vice president owned 6,075 shares of the company’s stock, valued at $1,699,602.75. This trade represents a 73.34% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 92,845 shares of company stock worth $27,239,631 over the last 90 days. 1.46% of the stock is currently owned by company insiders.

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.