Vestcor Inc Grows Position in The Travelers Companies, Inc. $TRV

Vestcor Inc boosted its holdings in The Travelers Companies, Inc. (NYSE:TRV) by 98.4% in the 4th quarter, HoldingsChannel reports. The fund owned 18,833 shares of the insurance provider’s stock after acquiring an additional 9,342 shares during the quarter. Vestcor Inc’s holdings in Travelers Companies were worth $5,463,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the business. Pinebridge Investments LLC purchased a new position in Travelers Companies in the fourth quarter worth $19,364,000. PBU The Pension Fund of Early Childhood & Youth Educators purchased a new position in Travelers Companies in the fourth quarter worth $11,371,000. Parallel Advisors LLC raised its position in Travelers Companies by 2.4% in the fourth quarter. Parallel Advisors LLC now owns 7,052 shares of the insurance provider’s stock worth $2,046,000 after acquiring an additional 163 shares in the last quarter. Total Wealth Planning & Management Inc. purchased a new position in Travelers Companies in the fourth quarter worth $525,000. Finally, SlateStone Wealth LLC raised its position in Travelers Companies by 4.9% in the fourth quarter. SlateStone Wealth LLC now owns 6,286 shares of the insurance provider’s stock worth $1,823,000 after acquiring an additional 292 shares in the last quarter. Hedge funds and other institutional investors own 82.45% of the company’s stock.

Travelers Companies Stock Up 3.3%

TRV opened at $303.13 on Friday. The company has a quick ratio of 0.35, a current ratio of 0.35 and a debt-to-equity ratio of 0.29. The firm has a market cap of $64.46 billion, a P/E ratio of 9.02, a PEG ratio of 2.73 and a beta of 0.48. The Travelers Companies, Inc. has a 52 week low of $249.19 and a 52 week high of $313.12. The business’s fifty day simple moving average is $299.04 and its 200 day simple moving average is $294.00.

Travelers Companies (NYSE:TRV) last posted its quarterly earnings data on Thursday, April 16th. The insurance provider reported $7.71 EPS for the quarter, beating analysts’ consensus estimates of $6.80 by $0.91. The business had revenue of $11.92 billion for the quarter, compared to analyst estimates of $11.11 billion. Travelers Companies had a return on equity of 24.06% and a net margin of 15.54%.The business’s revenue for the quarter was down 1.7% compared to the same quarter last year. During the same quarter last year, the company earned $1.91 earnings per share. As a group, equities research analysts anticipate that The Travelers Companies, Inc. will post 28 EPS for the current fiscal year.

Travelers Companies Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Wednesday, June 10th will be paid a dividend of $1.25 per share. The ex-dividend date of this dividend is Wednesday, June 10th. This is an increase from Travelers Companies’s previous quarterly dividend of $1.10. This represents a $5.00 dividend on an annualized basis and a dividend yield of 1.6%. Travelers Companies’s dividend payout ratio is 13.09%.

Insider Buying and Selling at Travelers Companies

In related news, EVP Jeffrey P. Klenk sold 6,414 shares of the stock in a transaction on Monday, April 20th. The stock was sold at an average price of $305.06, for a total transaction of $1,956,654.84. Following the sale, the executive vice president owned 6,075 shares of the company’s stock, valued at $1,853,239.50. This trade represents a 51.36% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Vice Chairman William H. Heyman sold 1,557 shares of the stock in a transaction on Tuesday, April 28th. The shares were sold at an average price of $310.64, for a total value of $483,666.48. Following the sale, the insider directly owned 259,590 shares in the company, valued at approximately $80,639,037.60. The trade was a 0.60% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 37,573 shares of company stock valued at $11,504,146. 1.39% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several research analysts have issued reports on the company. Seaport Research Partners set a $322.00 price objective on Travelers Companies in a research report on Tuesday, May 26th. Piper Sandler upped their target price on Travelers Companies from $329.00 to $340.00 and gave the company an “overweight” rating in a report on Tuesday, May 26th. Weiss Ratings reissued a “buy (a-)” rating on shares of Travelers Companies in a report on Friday, May 8th. JPMorgan Chase & Co. raised Travelers Companies from an “underweight” rating to a “neutral” rating and upped their target price for the company from $316.00 to $322.00 in a report on Tuesday, May 26th. Finally, Bank of America lowered their target price on Travelers Companies from $259.00 to $257.00 and set an “underperform” rating on the stock in a report on Tuesday, April 14th. Two analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating, eleven have issued a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $311.47.

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.