CIBC Bancorp USA Inc. Buys New Shares in The Travelers Companies, Inc. $TRV

CIBC Bancorp USA Inc. purchased a new stake in The Travelers Companies, Inc. (NYSE:TRV) during the third quarter, according to the company in its most recent filing with the SEC. The firm purchased 31,112 shares of the insurance provider’s stock, valued at approximately $8,687,000.

A number of other institutional investors and hedge funds have also made changes to their positions in TRV. Caerus Investment Advisors LLC purchased a new stake in Travelers Companies during the third quarter valued at about $331,000. First Commonwealth Financial Corp PA purchased a new position in shares of Travelers Companies in the 3rd quarter worth about $253,000. Coldstream Capital Management Inc. raised its holdings in shares of Travelers Companies by 11.0% in the 3rd quarter. Coldstream Capital Management Inc. now owns 5,482 shares of the insurance provider’s stock worth $1,531,000 after purchasing an additional 542 shares during the period. Danske Bank A S acquired a new position in shares of Travelers Companies in the 3rd quarter valued at about $52,339,000. Finally, Advisory Services Network LLC grew its holdings in shares of Travelers Companies by 0.6% during the 3rd quarter. Advisory Services Network LLC now owns 14,119 shares of the insurance provider’s stock worth $3,942,000 after purchasing an additional 81 shares during the period. 82.45% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the stock. Brean Capital initiated coverage on shares of Travelers Companies in a report on Thursday, March 12th. They issued a “neutral” rating on the stock. UBS Group reissued a “neutral” rating on shares of Travelers Companies in a research note on Monday, February 2nd. JPMorgan Chase & Co. lifted their target price on shares of Travelers Companies from $302.00 to $305.00 and gave the company an “underweight” rating in a report on Wednesday, January 7th. Weiss Ratings upgraded Travelers Companies from a “buy (b+)” rating to a “buy (a-)” rating in a report on Monday, February 9th. Finally, Keefe, Bruyette & Woods raised their price objective on Travelers Companies from $320.00 to $340.00 and gave the company an “outperform” rating in a research report on Thursday, February 19th. Two analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating, eleven have given a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $304.33.

Insiders Place Their Bets

In related news, EVP Jeffrey P. Klenk sold 16,712 shares of the business’s stock in a transaction dated Friday, January 23rd. The stock was sold at an average price of $279.77, for a total transaction of $4,675,516.24. Following the completion of the transaction, the executive vice president owned 6,075 shares of the company’s stock, valued at approximately $1,699,602.75. The trade was a 73.34% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Maria Olivo sold 10,400 shares of the stock in a transaction that occurred on Friday, February 6th. The shares were sold at an average price of $300.75, for a total value of $3,127,800.00. Following the sale, the executive vice president owned 117,596 shares of the company’s stock, valued at approximately $35,366,997. The trade was a 8.13% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 92,845 shares of company stock valued at $27,239,631. Company insiders own 1.46% of the company’s stock.

Travelers Companies Trading Down 0.1%

Shares of TRV stock opened at $296.63 on Friday. The Travelers Companies, Inc. has a 12 month low of $230.43 and a 12 month high of $313.12. The company has a market cap of $64.14 billion, a PE ratio of 10.77, a price-to-earnings-growth ratio of 2.76 and a beta of 0.49. 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 business’s 50 day moving average is $293.65 and its two-hundred day moving average is $285.27.

Travelers Companies (NYSE:TRV) last posted its quarterly earnings data on Wednesday, January 21st. The insurance provider reported $11.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $8.34 by $2.79. The business had revenue of $12.43 billion during the quarter, compared to the consensus estimate of $11.13 billion. Travelers Companies had a net margin of 12.88% and a return on equity of 20.70%. Travelers Companies’s quarterly revenue was up 3.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $9.15 EPS. Equities analysts predict that The Travelers Companies, Inc. will post 17.02 EPS for the current year.

Travelers Companies Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Tuesday, March 10th will be given 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 is Tuesday, March 10th. Travelers Companies’s dividend payout ratio (DPR) is currently 15.98%.

Travelers Companies declared that its Board of Directors has initiated a share buyback program on Wednesday, January 21st that authorizes the company to buyback $5.00 billion in outstanding shares. This buyback authorization authorizes the insurance provider to buy up to 8.3% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s management believes its stock is undervalued.

Travelers Companies 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.