Mirae Asset Global Investments Co. Ltd. Buys 13,957 Shares of The Travelers Companies, Inc. $TRV

Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of The Travelers Companies, Inc. (NYSE:TRV) by 27.5% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 64,696 shares of the insurance provider’s stock after acquiring an additional 13,957 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Travelers Companies were worth $18,064,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the stock. Valeo Financial Advisors LLC lifted its position in shares of Travelers Companies by 71,265.9% in the second quarter. Valeo Financial Advisors LLC now owns 3,616,826 shares of the insurance provider’s stock worth $967,646,000 after buying an additional 3,611,758 shares in the last quarter. Norges Bank bought a new stake in Travelers Companies in the 2nd quarter worth approximately $815,013,000. JPMorgan Chase & Co. raised its holdings in shares of Travelers Companies by 10.9% during the 2nd quarter. JPMorgan Chase & Co. now owns 7,626,750 shares of the insurance provider’s stock worth $2,040,475,000 after acquiring an additional 751,715 shares in the last quarter. Rakuten Investment Management Inc. bought a new position in shares of Travelers Companies during the 3rd quarter valued at approximately $112,051,000. Finally, Nordea Investment Management AB grew its holdings in shares of Travelers Companies by 1,641.3% in the third quarter. Nordea Investment Management AB now owns 379,480 shares of the insurance provider’s stock valued at $105,537,000 after purchasing an additional 357,687 shares in the last quarter. Hedge funds and other institutional investors own 82.45% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have commented on the stock. Roth Mkm increased their price objective on shares of Travelers Companies from $300.00 to $320.00 and gave the company a “buy” rating in a research report on Friday, January 23rd. Zacks Research downgraded shares of Travelers Companies from a “strong-buy” rating to a “hold” rating in a report on Monday, December 22nd. Evercore ISI boosted their price objective on Travelers Companies from $309.00 to $317.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 7th. Cantor Fitzgerald upped their price objective on Travelers Companies from $308.00 to $316.00 and gave the company an “overweight” rating in a research report on Wednesday, January 14th. Finally, JPMorgan Chase & Co. lifted their target price on Travelers Companies from $302.00 to $305.00 and gave the stock an “underweight” rating in a report on Wednesday, January 7th. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, eleven have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, Travelers Companies presently has an average rating of “Hold” and an average target price of $302.80.

Travelers Companies Stock Up 0.2%

Shares of NYSE:TRV opened at $284.73 on Friday. The firm has a market capitalization of $63.51 billion, a PE ratio of 10.34, a price-to-earnings-growth ratio of 2.64 and a beta of 0.52. The business has a 50 day simple moving average of $284.77 and a two-hundred day simple moving average of $276.59. The Travelers Companies, Inc. has a 1 year low of $230.43 and a 1 year high of $296.85. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.33 and a quick ratio of 0.35.

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

Travelers Companies Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Tuesday, March 10th will be issued a $1.10 dividend. The ex-dividend date is Tuesday, March 10th. This represents a $4.40 dividend on an annualized basis and a dividend yield of 1.5%. Travelers Companies’s dividend payout ratio is presently 15.98%.

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

Insider Activity at Travelers Companies

In related news, CFO Daniel S. Frey sold 25,000 shares of Travelers Companies stock in a transaction dated Thursday, November 6th. The shares were sold at an average price of $278.25, for a total transaction of $6,956,250.00. Following the completion of the sale, the chief financial officer owned 26,932 shares in the company, valued at $7,493,829. This trade represents a 48.14% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Maria Olivo sold 8,920 shares of the company’s stock in a transaction dated Wednesday, November 26th. The stock was sold at an average price of $295.73, for a total transaction of $2,637,911.60. Following the completion of the transaction, the executive vice president owned 117,596 shares in the company, valued at $34,776,665.08. This represents a 7.05% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 54,435 shares of company stock worth $15,366,736. 1.46% of the stock is currently owned by corporate insiders.

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.