Swiss Life Asset Management Ltd Decreases Stock Position in The Travelers Companies, Inc. $TRV

Swiss Life Asset Management Ltd decreased its position in shares of The Travelers Companies, Inc. (NYSE:TRV) by 17.2% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 46,669 shares of the insurance provider’s stock after selling 9,712 shares during the period. Swiss Life Asset Management Ltd’s holdings in Travelers Companies were worth $13,031,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the company. JPMorgan Chase & Co. grew its holdings in Travelers Companies by 1.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 7,746,231 shares of the insurance provider’s stock valued at $2,162,917,000 after buying an additional 119,481 shares in the last quarter. Norges Bank purchased a new stake in shares of Travelers Companies during the 2nd quarter worth approximately $815,013,000. AQR Capital Management LLC raised its holdings in shares of Travelers Companies by 22.8% during the 3rd 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 in the last quarter. Legal & General Group Plc boosted its position in shares of Travelers Companies by 2.7% during the 3rd quarter. Legal & General Group Plc now owns 1,670,016 shares of the insurance provider’s stock valued at $466,302,000 after acquiring an additional 43,589 shares during the last quarter. Finally, Invesco Ltd. boosted its position in shares of 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 acquiring an additional 21,892 shares during the last quarter. 82.45% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

TRV has been the topic of several research reports. Evercore boosted their price target on shares of Travelers Companies from $309.00 to $317.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 7th. Weiss Ratings upgraded shares of Travelers Companies from a “buy (b+)” rating to a “buy (a-)” rating in a research report on Monday, February 9th. Jefferies Financial Group raised shares of Travelers Companies to a “hold” rating in a research note on Tuesday, January 6th. Barclays reduced their target price on shares of Travelers Companies from $315.00 to $312.00 and set an “equal weight” rating on the stock in a report on Thursday, January 8th. Finally, Roth Mkm increased their price target on shares of Travelers Companies from $300.00 to $320.00 and gave the company a “buy” rating in a report on Friday, January 23rd. Two 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 given a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $304.33.

Travelers Companies Stock Down 0.1%

NYSE TRV opened at $296.63 on Friday. The company has a quick ratio of 0.33, a current ratio of 0.33 and a debt-to-equity ratio of 0.28. The Travelers Companies, Inc. has a 52 week low of $230.43 and a 52 week high of $313.12. The firm has a market capitalization of $64.14 billion, a price-to-earnings ratio of 10.77, a PEG ratio of 2.76 and a beta of 0.49. The company has a fifty day moving average of $293.65 and a two-hundred day moving average of $285.27.

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

Travelers Companies Dividend Announcement

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

Travelers Companies declared that its Board of Directors has approved a stock buyback plan on Wednesday, January 21st that allows the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization allows the insurance provider to buy up to 8.3% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s leadership believes its stock is undervalued.

Insider Activity

In other Travelers Companies news, EVP Maria Olivo sold 10,400 shares of the firm’s stock in a transaction dated Friday, February 6th. The shares were sold at an average price of $300.75, for a total value of $3,127,800.00. Following the completion of the sale, the executive vice president owned 117,596 shares of the company’s stock, valued at $35,366,997. This trade represents a 8.13% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Michael Frederick Klein sold 10,000 shares of the business’s stock in a transaction that occurred on 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 owned 33,638 shares of the company’s stock, valued at $10,131,092.84. This trade represents a 22.92% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 92,845 shares of company stock valued at $27,239,631. Company insiders own 1.46% of the company’s stock.

Travelers Companies 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.