JPMorgan Chase & Co. Buys 119,481 Shares of The Travelers Companies, Inc. $TRV

JPMorgan Chase & Co. raised its stake in shares of The Travelers Companies, Inc. (NYSE:TRV) by 1.6% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 7,746,231 shares of the insurance provider’s stock after buying an additional 119,481 shares during the quarter. JPMorgan Chase & Co. owned about 3.47% of Travelers Companies worth $2,162,917,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of the stock. Associated Banc Corp boosted its stake in Travelers Companies by 1.4% in the 2nd quarter. Associated Banc Corp now owns 2,734 shares of the insurance provider’s stock worth $731,000 after purchasing an additional 39 shares in the last quarter. Fifth Third Wealth Advisors LLC lifted its stake in shares of Travelers Companies by 1.0% in the third quarter. Fifth Third Wealth Advisors LLC now owns 4,093 shares of the insurance provider’s stock worth $1,143,000 after buying an additional 40 shares in the last quarter. Nilsine Partners LLC grew its holdings in shares of Travelers Companies by 0.4% during the third quarter. Nilsine Partners LLC now owns 9,737 shares of the insurance provider’s stock valued at $2,719,000 after buying an additional 41 shares during the last quarter. Valeo Financial Advisors LLC increased its position in shares of Travelers Companies by 0.8% during the second quarter. Valeo Financial Advisors LLC now owns 5,109 shares of the insurance provider’s stock valued at $1,367,000 after acquiring an additional 41 shares in the last quarter. Finally, Howard Capital Management Inc. raised its holdings in Travelers Companies by 3.0% in the 3rd quarter. Howard Capital Management Inc. now owns 1,465 shares of the insurance provider’s stock worth $409,000 after acquiring an additional 42 shares during the last quarter. 82.45% of the stock is owned by hedge funds and other institutional investors.

Travelers Companies Stock Performance

TRV opened at $293.75 on Tuesday. The Travelers Companies, Inc. has a 12-month low of $230.43 and a 12-month high of $304.40. 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 company has a current ratio of 0.33, a quick ratio of 0.33 and a debt-to-equity ratio of 0.28. The company’s 50 day moving average is $286.21 and its 200 day moving average is $279.53.

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

Travelers Companies Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Tuesday, March 10th will be issued a dividend of $1.10 per share. 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 payout ratio is currently 15.98%.

Travelers Companies announced that its Board of Directors has initiated a share buyback program on Wednesday, January 21st that allows the company to repurchase $5.00 billion in shares. This repurchase authorization allows the insurance provider to buy up to 8.3% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board believes its stock is undervalued.

Analyst Upgrades and Downgrades

Several analysts have commented on the company. JPMorgan Chase & Co. increased their target price on Travelers Companies from $302.00 to $305.00 and gave the company an “underweight” rating in a research note on Wednesday, January 7th. UBS Group reiterated a “neutral” rating on shares of Travelers Companies in a report on Monday, February 2nd. Keefe, Bruyette & Woods upped their target price on shares of Travelers Companies from $317.00 to $320.00 and gave the company an “outperform” rating in a research note on Friday, January 23rd. Roth Mkm lifted their price target on shares of Travelers Companies from $300.00 to $320.00 and gave the stock a “buy” rating in a research note on Friday, January 23rd. Finally, Citigroup restated a “neutral” rating on shares of Travelers Companies in a research report on Tuesday, January 27th. Two analysts have rated the stock with a Strong Buy rating, five have given a Buy rating, ten have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, Travelers Companies has a consensus rating of “Hold” and an average price target of $303.00.

Insider Buying and Selling

In other Travelers Companies news, 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 transaction, the chief executive officer owned 260,329 shares of the company’s stock, valued at $76,718,956.30. The trade was a 17.63% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Maria Olivo sold 10,400 shares of the stock in a transaction on Friday, February 6th. The stock was sold at an average price of $300.75, for a total transaction of $3,127,800.00. Following the completion of the sale, the executive vice president directly owned 117,596 shares of the company’s stock, valued at approximately $35,366,997. This trade represents a 8.13% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, 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.