KLP Kapitalforvaltning AS Acquires 23,300 Shares of The Travelers Companies, Inc. $TRV

KLP Kapitalforvaltning AS increased its holdings in The Travelers Companies, Inc. (NYSE:TRV) by 28.9% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 103,979 shares of the insurance provider’s stock after acquiring an additional 23,300 shares during the quarter. KLP Kapitalforvaltning AS’s holdings in Travelers Companies were worth $29,033,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in TRV. Valeo Financial Advisors LLC boosted its stake in shares of Travelers Companies by 71,265.9% during the 2nd quarter. Valeo Financial Advisors LLC now owns 3,616,826 shares of the insurance provider’s stock worth $967,646,000 after acquiring an additional 3,611,758 shares during the last quarter. Norges Bank purchased a new stake in shares of Travelers Companies in the 2nd quarter worth $815,013,000. JPMorgan Chase & Co. raised its holdings in Travelers Companies by 10.9% in the 2nd quarter. JPMorgan Chase & Co. now owns 7,626,750 shares of the insurance provider’s stock worth $2,040,475,000 after purchasing an additional 751,715 shares during the period. Robeco Institutional Asset Management B.V. raised its holdings in Travelers Companies by 86.5% in the 2nd quarter. Robeco Institutional Asset Management B.V. now owns 738,901 shares of the insurance provider’s stock worth $197,686,000 after purchasing an additional 342,666 shares during the period. Finally, Assenagon Asset Management S.A. lifted its position in Travelers Companies by 4,767.6% during the third quarter. Assenagon Asset Management S.A. now owns 338,150 shares of the insurance provider’s stock valued at $94,418,000 after purchasing an additional 331,203 shares in the last quarter. 82.45% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Travelers Companies

In related news, Vice Chairman William H. Heyman sold 2,000 shares of the stock in a transaction that occurred on Wednesday, November 12th. The stock was sold at an average price of $287.50, for a total transaction of $575,000.00. Following the completion of the transaction, the insider directly owned 255,086 shares of the company’s stock, valued at approximately $73,337,225. This represents a 0.78% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Michael Frederick Klein sold 8,572 shares of Travelers Companies stock in a transaction that occurred on Tuesday, October 28th. The stock was sold at an average price of $270.73, for a total value of $2,320,697.56. Following the completion of the sale, the executive vice president directly owned 33,638 shares in the company, valued at approximately $9,106,815.74. The trade was a 20.31% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 46,295 shares of company stock worth $13,011,918. 1.46% of the stock is currently owned by company insiders.

Travelers Companies Trading Down 0.7%

TRV stock opened at $283.20 on Thursday. The company has a debt-to-equity ratio of 0.29, a current ratio of 0.35 and a quick ratio of 0.35. The Travelers Companies, Inc. has a 1-year low of $230.23 and a 1-year high of $296.85. The business has a 50 day simple moving average of $286.14 and a two-hundred day simple moving average of $274.79. The company has a market capitalization of $63.17 billion, a price-to-earnings ratio of 11.14, a PEG ratio of 2.73 and a beta of 0.52.

Travelers Companies (NYSE:TRV) last released its earnings results on Thursday, October 16th. The insurance provider reported $8.14 EPS for the quarter, topping the consensus estimate of $6.01 by $2.13. Travelers Companies had a net margin of 12.14% and a return on equity of 20.28%. The firm had revenue of $12.47 billion for the quarter, compared to the consensus estimate of $11.15 billion. During the same quarter in the previous year, the firm earned $5.24 earnings per share. The company’s quarterly revenue was up 4.8% compared to the same quarter last year. Research analysts anticipate that The Travelers Companies, Inc. will post 17.02 EPS for the current fiscal year.

Travelers Companies Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, December 31st. Shareholders of record on Wednesday, December 10th were issued a dividend of $1.10 per share. This represents a $4.40 annualized dividend and a dividend yield of 1.6%. The ex-dividend date of this dividend was Wednesday, December 10th. Travelers Companies’s dividend payout ratio is 17.30%.

Analysts Set New Price Targets

A number of analysts have commented on the company. Wall Street Zen cut Travelers Companies from a “buy” rating to a “hold” rating in a research report on Sunday, October 19th. Weiss Ratings reiterated a “buy (b+)” rating on shares of Travelers Companies in a research note on Monday, December 29th. Wolfe Research started coverage on shares of Travelers Companies in a research note on Monday, September 15th. They set a “peer perform” rating on the stock. Barclays set a $313.00 price target on shares of Travelers Companies in a report on Wednesday, October 8th. Finally, Keefe, Bruyette & Woods upped their price target on shares of Travelers Companies from $305.00 to $317.00 and gave the stock an “outperform” rating in a research report on Tuesday. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, thirteen have assigned a Hold rating and one has issued 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 $298.44.

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.