AIA Group Ltd Makes New $1.77 Million Investment in The Travelers Companies, Inc. $TRV

AIA Group Ltd bought a new position in shares of The Travelers Companies, Inc. (NYSE:TRV) during the third quarter, according to the company in its most recent disclosure with the SEC. The firm bought 6,351 shares of the insurance provider’s stock, valued at approximately $1,773,000.

Other hedge funds also recently made changes to their positions in the company. Norges Bank acquired a new position in shares of Travelers Companies during the second quarter valued at $815,013,000. JPMorgan Chase & Co. grew its holdings in Travelers Companies by 10.9% in the 2nd quarter. JPMorgan Chase & Co. now owns 7,626,750 shares of the insurance provider’s stock worth $2,040,475,000 after buying an additional 751,715 shares in the last quarter. AustralianSuper Pty Ltd acquired a new stake in Travelers Companies in the 3rd quarter valued at approximately $125,597,000. Rakuten Investment Management Inc. bought a new stake in Travelers Companies during the 3rd quarter valued at $112,051,000. Finally, Nordea Investment Management AB raised its stake in Travelers Companies by 1,641.3% during the 3rd quarter. Nordea Investment Management AB now owns 379,480 shares of the insurance provider’s stock valued at $105,537,000 after acquiring an additional 357,687 shares in the last quarter. Institutional investors and hedge funds own 82.45% of the company’s stock.

Wall Street Analysts Forecast Growth

TRV has been the subject of several recent analyst reports. Cantor Fitzgerald increased their price target on Travelers Companies from $316.00 to $319.00 and gave the stock an “overweight” rating in a research note on Monday, February 2nd. Mizuho reduced their price objective on shares of Travelers Companies from $315.00 to $304.00 and set a “neutral” rating for the company in a report on Thursday, January 22nd. UBS Group reiterated a “neutral” rating on shares of Travelers Companies in a research report on Monday, February 2nd. Argus raised shares of Travelers Companies to a “strong-buy” rating in a report on Monday, January 26th. Finally, JPMorgan Chase & Co. raised their price objective on shares of Travelers Companies from $302.00 to $305.00 and gave the company an “underweight” rating in a research report on Wednesday, January 7th. Two analysts have rated the stock with a Strong Buy rating, five have given a Buy rating, eleven have given a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $304.33.

Travelers Companies Stock Performance

NYSE:TRV opened at $296.63 on Friday. The firm has a market capitalization 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 Travelers Companies, Inc. has a 12-month low of $230.43 and a 12-month high of $313.12. The firm has a 50-day moving average price of $293.65 and a 200 day moving average price of $285.27.

Travelers Companies (NYSE:TRV) last issued its quarterly earnings data on Wednesday, January 21st. The insurance provider reported $11.13 earnings per share for the quarter, topping the consensus estimate of $8.34 by $2.79. The firm had revenue of $12.43 billion for the quarter, compared to analysts’ expectations of $11.13 billion. Travelers Companies had a net margin of 12.88% and a return on equity of 20.70%. The company’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 earnings per share. Research analysts anticipate that The Travelers Companies, Inc. will post 17.02 earnings per share for the current fiscal year.

Travelers Companies Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Tuesday, March 10th will be paid a dividend of $1.10 per share. The ex-dividend date of this dividend is Tuesday, March 10th. This represents a $4.40 annualized dividend and a yield of 1.5%. Travelers Companies’s dividend payout ratio (DPR) is presently 15.98%.

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

Insider Activity

In other Travelers Companies news, EVP Maria Olivo sold 10,400 shares of the company’s 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 completion of the sale, the executive vice president owned 117,596 shares of the company’s stock, valued at approximately $35,366,997. This represents a 8.13% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Jeffrey P. Klenk sold 16,712 shares of Travelers Companies stock in a transaction on 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 transaction, the executive vice president directly owned 6,075 shares in the company, valued at approximately $1,699,602.75. This represents a 73.34% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 92,845 shares of company stock worth $27,239,631 in the last ninety days. Company insiders own 1.46% of the company’s stock.

About Travelers Companies

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.