CIBC Asset Management Inc Grows Stock Holdings in The Travelers Companies, Inc. (NYSE:TRV)

CIBC Asset Management Inc grew its position in The Travelers Companies, Inc. (NYSE:TRV) by 7.9% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 33,337 shares of the insurance provider’s stock after acquiring an additional 2,455 shares during the quarter. CIBC Asset Management Inc’s holdings in Travelers Companies were worth $7,805,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in TRV. Acadian Asset Management LLC raised its stake in shares of Travelers Companies by 356.4% in the second quarter. Acadian Asset Management LLC now owns 868,563 shares of the insurance provider’s stock valued at $176,589,000 after acquiring an additional 678,241 shares during the period. International Assets Investment Management LLC increased its stake in Travelers Companies by 23,378.8% in the 3rd quarter. International Assets Investment Management LLC now owns 520,291 shares of the insurance provider’s stock worth $121,811,000 after buying an additional 518,075 shares during the period. Zurich Insurance Group Ltd FI purchased a new position in Travelers Companies in the 1st quarter worth about $88,190,000. Renaissance Technologies LLC increased its stake in Travelers Companies by 324.9% in the 2nd quarter. Renaissance Technologies LLC now owns 301,584 shares of the insurance provider’s stock worth $61,324,000 after buying an additional 230,612 shares during the period. Finally, Boston Partners increased its stake in Travelers Companies by 16.4% in the 1st quarter. Boston Partners now owns 1,388,019 shares of the insurance provider’s stock worth $319,348,000 after buying an additional 196,011 shares during the period. Hedge funds and other institutional investors own 82.45% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently commented on TRV shares. Bank of America raised their price target on shares of Travelers Companies from $241.00 to $265.00 and gave the stock an “underperform” rating in a research note on Thursday, October 17th. UBS Group increased their target price on shares of Travelers Companies from $244.00 to $270.00 and gave the stock a “neutral” rating in a report on Tuesday, October 22nd. Piper Sandler dropped their target price on shares of Travelers Companies from $213.00 to $207.00 and set a “neutral” rating on the stock in a report on Monday, July 22nd. Keefe, Bruyette & Woods raised their price target on shares of Travelers Companies from $245.00 to $273.00 and gave the company a “market perform” rating in a report on Tuesday, October 22nd. Finally, Jefferies Financial Group raised their price target on shares of Travelers Companies from $210.00 to $235.00 and gave the company a “hold” rating in a report on Wednesday, October 9th. Four investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $247.90.

Insider Activity

In other news, Vice Chairman William H. Heyman sold 3,000 shares of Travelers Companies stock in a transaction that occurred on Tuesday, October 22nd. The shares were sold at an average price of $260.55, for a total transaction of $781,650.00. Following the completion of the transaction, the insider now directly owns 250,384 shares of the company’s stock, valued at $65,237,551.20. The trade was a 1.18 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Diane Kurtzman sold 3,941 shares of Travelers Companies stock in a transaction that occurred on Monday, October 21st. The shares were sold at an average price of $260.45, for a total transaction of $1,026,433.45. Following the transaction, the executive vice president now directly owns 1,715 shares of the company’s stock, valued at approximately $446,671.75. This trade represents a 69.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 63,999 shares of company stock valued at $16,580,166 in the last three months. 1.33% of the stock is currently owned by corporate insiders.

Travelers Companies Stock Performance

TRV opened at $260.82 on Monday. The Travelers Companies, Inc. has a 12-month low of $169.18 and a 12-month high of $269.55. The company has a current ratio of 0.34, a quick ratio of 0.34 and a debt-to-equity ratio of 0.29. The firm has a market capitalization of $59.21 billion, a PE ratio of 13.38, a P/E/G ratio of 1.25 and a beta of 0.62. The firm has a 50 day moving average of $244.44 and a two-hundred day moving average of $224.48.

Travelers Companies (NYSE:TRV) last posted its quarterly earnings results on Thursday, October 17th. The insurance provider reported $5.24 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.79 by $1.45. Travelers Companies had a net margin of 10.02% and a return on equity of 17.69%. The company had revenue of $11.90 billion during the quarter, compared to analyst estimates of $11.46 billion. During the same period last year, the firm posted $1.95 EPS. Travelers Companies’s revenue for the quarter was up 11.9% compared to the same quarter last year. On average, analysts anticipate that The Travelers Companies, Inc. will post 18.64 EPS for the current year.

Travelers Companies Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Tuesday, December 10th will be issued a dividend of $1.05 per share. This represents a $4.20 annualized dividend and a dividend yield of 1.61%. The ex-dividend date is Tuesday, December 10th. Travelers Companies’s dividend payout ratio (DPR) is 21.54%.

Travelers Companies Company Profile

The Travelers Companies, Inc, through its subsidiaries, provides a range of commercial and personal property, and casualty insurance products and services to businesses, government units, associations, and individuals in the United States and internationally. The company operates through three segments: Business Insurance, Bond & Specialty Insurance, and Personal Insurance.