SteelPeak Wealth LLC Grows Holdings in The Travelers Companies, Inc. $TRV

SteelPeak Wealth LLC lifted its position in shares of The Travelers Companies, Inc. (NYSE:TRV) by 214.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 26,445 shares of the insurance provider’s stock after buying an additional 18,028 shares during the quarter. SteelPeak Wealth LLC’s holdings in Travelers Companies were worth $7,671,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of TRV. AustralianSuper Pty Ltd acquired a new stake in Travelers Companies during the third quarter worth approximately $125,597,000. Rakuten Investment Management Inc. acquired a new position in Travelers Companies in the 3rd quarter valued at $112,051,000. Nordea Investment Management AB lifted its stake in shares of Travelers Companies by 1,641.3% during the 3rd quarter. Nordea Investment Management AB now owns 379,480 shares of the insurance provider’s stock worth $105,537,000 after purchasing an additional 357,687 shares during the period. Woodline Partners LP purchased a new position in shares of Travelers Companies during the 3rd quarter worth $99,680,000. Finally, Assenagon Asset Management S.A. boosted its holdings in shares of 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 worth $94,418,000 after purchasing an additional 331,203 shares during the last quarter. Institutional investors and hedge funds own 82.45% of the company’s stock.

Travelers Companies Trading Down 0.0%

TRV stock opened at $293.98 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 company has a market cap of $63.57 billion, a price-to-earnings ratio of 10.68, a PEG ratio of 2.74 and a beta of 0.51. The business has a fifty day simple moving average of $297.36 and a 200-day simple moving average of $286.37. The Travelers Companies, Inc. has a 52 week low of $230.43 and a 52 week high of $313.12.

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

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

Travelers Companies Announces Dividend

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

Insider Transactions at Travelers Companies

In other news, EVP Maria Olivo sold 10,400 shares of the business’s stock in a transaction dated 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 owned 117,596 shares in the company, valued at approximately $35,366,997. The trade was a 8.13% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Michael Frederick Klein sold 10,000 shares of the firm’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 transaction of $3,011,800.00. Following the completion of the transaction, the executive vice president owned 33,638 shares in the company, valued at $10,131,092.84. The trade was a 22.92% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 92,845 shares of company stock worth $27,239,631 over the last 90 days. Company insiders own 1.46% of the company’s stock.

Wall Street Analysts Forecast Growth

TRV has been the subject of several analyst reports. Zacks Research lowered Travelers Companies from a “strong-buy” rating to a “hold” rating in a research note on Monday, December 22nd. Argus raised Travelers Companies to a “strong-buy” rating in a research note on Monday, January 26th. UBS Group restated a “neutral” rating on shares of Travelers Companies in a report on Monday, February 2nd. Weiss Ratings raised shares of Travelers Companies from a “buy (b+)” rating to a “buy (a-)” rating in a research note on Monday, February 9th. Finally, JPMorgan Chase & Co. increased their price objective on shares of Travelers Companies from $302.00 to $305.00 and gave the stock an “underweight” rating in a report on Wednesday, January 7th. Two research 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.com, Travelers Companies currently has an average rating of “Hold” and a consensus target price of $306.79.

About Travelers Companies

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.