Erste Asset Management GmbH Has $3.39 Million Holdings in The Travelers Companies, Inc. $TRV

Erste Asset Management GmbH lessened its holdings in shares of The Travelers Companies, Inc. (NYSE:TRV) by 15.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 11,616 shares of the insurance provider’s stock after selling 2,133 shares during the quarter. Erste Asset Management GmbH’s holdings in Travelers Companies were worth $3,391,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of TRV. Norges Bank acquired a new position in Travelers Companies during the fourth quarter worth approximately $723,339,000. AustralianSuper Pty Ltd increased its position in Travelers Companies by 102.0% during the fourth quarter. AustralianSuper Pty Ltd now owns 908,559 shares of the insurance provider’s stock worth $263,537,000 after buying an additional 458,746 shares during the last quarter. Woodline Partners LP acquired a new position in Travelers Companies during the third quarter worth approximately $99,680,000. AQR Capital Management LLC increased its position in Travelers Companies by 22.8% during the third quarter. AQR Capital Management LLC now owns 1,785,288 shares of the insurance provider’s stock worth $496,872,000 after buying an additional 331,170 shares during the last quarter. Finally, Adage Capital Partners GP L.L.C. increased its position in Travelers Companies by 258.5% during the second quarter. Adage Capital Partners GP L.L.C. now owns 372,513 shares of the insurance provider’s stock worth $99,662,000 after buying an additional 268,600 shares during the last quarter. Institutional investors and hedge funds own 82.45% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the company. Bank of America lowered their price target on Travelers Companies from $259.00 to $257.00 and set an “underperform” rating on the stock in a research report on Tuesday, April 14th. Evercore restated an “outperform” rating on shares of Travelers Companies in a report on Friday, April 17th. JPMorgan Chase & Co. upgraded Travelers Companies from an “underweight” rating to a “neutral” rating and boosted their price objective for the stock from $316.00 to $322.00 in a report on Tuesday, May 26th. Piper Sandler boosted their price objective on Travelers Companies from $329.00 to $340.00 and gave the stock an “overweight” rating in a report on Tuesday, May 26th. Finally, Keefe, Bruyette & Woods boosted their price objective on Travelers Companies from $340.00 to $342.00 and gave the stock an “outperform” rating in a report on Monday, April 20th. Two equities research analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating, eleven have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $311.47.

Travelers Companies Trading Up 1.1%

Shares of NYSE:TRV opened at $300.03 on Wednesday. The Travelers Companies, Inc. has a 12-month low of $249.19 and a 12-month high of $313.12. The stock has a market cap of $63.80 billion, a PE ratio of 8.93, a P/E/G ratio of 2.68 and a beta of 0.48. The business has a 50 day moving average of $299.45 and a 200-day moving average of $294.24. The company has a quick ratio of 0.35, a current ratio of 0.35 and a debt-to-equity ratio of 0.29.

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

Travelers Companies Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Wednesday, June 10th will be paid a $1.25 dividend. This represents a $5.00 annualized dividend and a dividend yield of 1.7%. This is an increase from Travelers Companies’s previous quarterly dividend of $1.10. The ex-dividend date is Wednesday, June 10th. Travelers Companies’s dividend payout ratio is presently 13.09%.

Insiders Place Their Bets

In related news, Vice Chairman William H. Heyman sold 1,557 shares of the business’s stock in a transaction that occurred on Tuesday, April 28th. The stock was sold at an average price of $310.64, for a total value of $483,666.48. Following the completion of 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Jeffrey P. Klenk sold 6,414 shares of the business’s stock in a transaction that occurred on Monday, April 20th. The shares were sold at an average price of $305.06, for a total value of $1,956,654.84. Following the completion of the sale, the executive vice president owned 6,075 shares of the company’s stock, valued at approximately $1,853,239.50. This trade represents a 51.36% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 37,573 shares of company stock valued at $11,504,146 in the last quarter. Company insiders own 1.39% 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.