Public Employees Retirement Association of Colorado Has $7.03 Million Stake in Travelers Companies Inc (TRV)
Public Employees Retirement Association of Colorado lifted its position in Travelers Companies Inc (NYSE:TRV) by 9.3% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 51,846 shares of the insurance provider’s stock after buying an additional 4,419 shares during the period. Public Employees Retirement Association of Colorado’s holdings in Travelers Companies were worth $7,032,000 as of its most recent SEC filing.
Several other institutional investors have also recently modified their holdings of TRV. Robeco Institutional Asset Management B.V. purchased a new position in shares of Travelers Companies in the 3rd quarter worth approximately $78,058,000. APG Asset Management N.V. grew its position in shares of Travelers Companies by 12.5% in the 3rd quarter. APG Asset Management N.V. now owns 2,735,245 shares of the insurance provider’s stock worth $335,122,000 after buying an additional 304,900 shares during the last quarter. Koch Industries Inc. purchased a new position in shares of Travelers Companies in the 2nd quarter worth approximately $279,000. Canada Pension Plan Investment Board grew its position in shares of Travelers Companies by 89.4% in the 3rd quarter. Canada Pension Plan Investment Board now owns 594,243 shares of the insurance provider’s stock worth $72,807,000 after buying an additional 280,500 shares during the last quarter. Finally, Marathon Asset Management LLP grew its position in shares of Travelers Companies by 26.6% in the 4th quarter. Marathon Asset Management LLP now owns 1,264,352 shares of the insurance provider’s stock worth $171,500,000 after buying an additional 265,724 shares during the last quarter. 79.21% of the stock is currently owned by hedge funds and other institutional investors.
TRV has been the topic of a number of analyst reports. Keefe, Bruyette & Woods reaffirmed a “buy” rating and issued a $152.00 price objective on shares of Travelers Companies in a research report on Wednesday, December 6th. Citigroup lifted their price objective on shares of Travelers Companies from $143.00 to $151.00 and gave the stock a “buy” rating in a research report on Friday, October 20th. Royal Bank of Canada reaffirmed a “buy” rating and issued a $148.00 price objective on shares of Travelers Companies in a research report on Friday, December 8th. Zacks Investment Research raised shares of Travelers Companies from a “hold” rating to a “buy” rating and set a $148.00 price objective on the stock in a research report on Friday, January 5th. Finally, Bank of America raised shares of Travelers Companies from a “neutral” rating to a “buy” rating in a research report on Tuesday, January 9th. Three equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and eight have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $135.07.
Travelers Companies (NYSE:TRV) last released its earnings results on Tuesday, January 23rd. The insurance provider reported $2.28 earnings per share for the quarter, missing the consensus estimate of $2.56 by ($0.28). The company had revenue of $7.45 billion for the quarter, compared to analysts’ expectations of $6.47 billion. Travelers Companies had a return on equity of 8.61% and a net margin of 7.13%. The firm’s revenue for the quarter was up 3.6% on a year-over-year basis. During the same period in the prior year, the firm posted $3.20 EPS. equities analysts expect that Travelers Companies Inc will post 10.59 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 30th. Stockholders of record on Friday, March 9th will be issued a $0.72 dividend. This represents a $2.88 annualized dividend and a dividend yield of 2.13%. The ex-dividend date of this dividend is Thursday, March 8th. Travelers Companies’s dividend payout ratio (DPR) is currently 39.40%.
Travelers Companies announced that its board has approved a stock repurchase plan on Thursday, November 9th that allows the company to repurchase outstanding shares. This repurchase authorization allows the insurance provider to purchase shares of its stock through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors believes its shares are undervalued.
In other news, EVP Andy F. Bessette sold 2,000 shares of the company’s stock in a transaction on Tuesday, November 14th. The shares were sold at an average price of $132.98, for a total value of $265,960.00. Following the sale, the executive vice president now directly owns 8,000 shares of the company’s stock, valued at approximately $1,063,840. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Brian W. Maclean sold 88,607 shares of the company’s stock in a transaction on Friday, January 26th. The shares were sold at an average price of $149.29, for a total transaction of $13,228,139.03. Following the completion of the sale, the chief operating officer now directly owns 211,293 shares in the company, valued at $31,543,931.97. The disclosure for this sale can be found here. Insiders sold a total of 183,599 shares of company stock worth $26,487,501 over the last ninety days. Insiders own 0.82% of the company’s stock.
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Travelers Companies Profile
The Travelers Companies, Inc is a holding company. The Company’s segments include Business and International Insurance; Bond & Specialty Insurance, and Personal Insurance. Through its subsidiaries, it provides commercial and personal property and casualty insurance products and services. The Business and International Insurance segment offers property and casualty insurance and insurance related services to its clients, in the United States and in Canada, as well as in the United Kingdom, the Republic of Ireland, Brazil and throughout other parts of the world.
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