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

CIBC Asset Management Inc lifted its stake in The Travelers Companies, Inc. (NYSE:TRV) by 7.9% in the 3rd quarter, Holdings Channel.com reports. The firm owned 33,337 shares of the insurance provider’s stock after purchasing an additional 2,455 shares during the period. 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 recently made changes to their positions in TRV. Acadian Asset Management LLC increased its holdings 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 purchasing an additional 678,241 shares during the last quarter. International Assets Investment Management LLC increased its holdings in shares of Travelers Companies by 23,378.8% in the third quarter. International Assets Investment Management LLC now owns 520,291 shares of the insurance provider’s stock valued at $121,811,000 after purchasing an additional 518,075 shares during the last quarter. Zurich Insurance Group Ltd FI acquired a new stake in shares of Travelers Companies in the first quarter valued at approximately $88,190,000. Renaissance Technologies LLC increased its stake in Travelers Companies by 324.9% during the second quarter. Renaissance Technologies LLC now owns 301,584 shares of the insurance provider’s stock worth $61,324,000 after acquiring an additional 230,612 shares during the last quarter. Finally, Boston Partners increased its stake in Travelers Companies by 16.4% during the first quarter. Boston Partners now owns 1,388,019 shares of the insurance provider’s stock worth $319,348,000 after acquiring an additional 196,011 shares during the last quarter. Institutional investors and hedge funds own 82.45% of the company’s stock.

Travelers Companies Trading Up 1.7 %

NYSE:TRV opened at $260.82 on Monday. The firm has a market cap of $59.21 billion, a PE ratio of 13.38, a price-to-earnings-growth ratio of 1.25 and a beta of 0.62. The stock has a fifty day moving average price of $244.44 and a 200 day moving average price of $224.48. 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.

Travelers Companies (NYSE:TRV) last announced 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. The company had revenue of $11.90 billion during the quarter, compared to the consensus estimate of $11.46 billion. Travelers Companies had a return on equity of 17.69% and a net margin of 10.02%. Travelers Companies’s revenue for the quarter was up 11.9% on a year-over-year basis. During the same period in the previous year, the business earned $1.95 EPS. Sell-side analysts anticipate that The Travelers Companies, Inc. will post 18.64 earnings per share for the current fiscal year.

Travelers Companies Dividend Announcement

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

Insiders Place Their Bets

In other news, EVP Andy F. Bessette sold 4,520 shares of Travelers Companies stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $253.46, for a total transaction of $1,145,639.20. Following the sale, the executive vice president now owns 16,976 shares in the company, valued at approximately $4,302,736.96. The trade was a 21.03 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Alan D. Schnitzer sold 40,524 shares of Travelers Companies stock in a transaction dated Monday, October 21st. The stock was sold at an average price of $260.12, for a total value of $10,541,102.88. Following the sale, the chief executive officer now owns 221,924 shares in the company, valued at $57,726,870.88. This trade represents a 15.44 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 63,999 shares of company stock valued at $16,580,166 in the last ninety days. Insiders own 1.33% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the company. Roth Mkm raised their target price on Travelers Companies from $240.00 to $300.00 and gave the stock a “buy” rating in a research note on Monday, October 21st. Barclays raised their target price on Travelers Companies from $286.00 to $295.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 23rd. Royal Bank of Canada raised their target price on Travelers Companies from $250.00 to $273.00 and gave the stock a “sector perform” rating in a research note on Friday, October 18th. BMO Capital Markets raised their target price on Travelers Companies from $233.00 to $270.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 22nd. Finally, UBS Group raised their target price on Travelers Companies from $244.00 to $270.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 22nd. Four research analysts have rated the stock with a sell rating, thirteen have issued a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Travelers Companies presently has a consensus rating of “Hold” and a consensus price target of $247.90.

About Travelers Companies

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.