Assenagon Asset Management S.A. Increases Stock Position in The Travelers Companies, Inc. (NYSE:TRV)

Assenagon Asset Management S.A. lifted its stake in The Travelers Companies, Inc. (NYSE:TRV) by 91.6% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 492,590 shares of the insurance provider’s stock after purchasing an additional 235,543 shares during the quarter. Assenagon Asset Management S.A.’s holdings in Travelers Companies were worth $130,270,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently modified their holdings of TRV. Handelsbanken Fonder AB grew its stake in shares of Travelers Companies by 5.3% during the 1st quarter. Handelsbanken Fonder AB now owns 58,006 shares of the insurance provider’s stock valued at $15,340,000 after acquiring an additional 2,932 shares during the period. BFI Infinity Ltd. purchased a new stake in shares of Travelers Companies during the 1st quarter worth approximately $487,000. SG Americas Securities LLC raised its holdings in shares of Travelers Companies by 3,020.4% during the 1st quarter. SG Americas Securities LLC now owns 258,248 shares of the insurance provider’s stock worth $68,296,000 after acquiring an additional 249,972 shares in the last quarter. Walker Asset Management LLC purchased a new stake in Travelers Companies during the 1st quarter valued at $215,000. Finally, GAMMA Investing LLC raised its holdings in Travelers Companies by 18.1% during the 1st quarter. GAMMA Investing LLC now owns 8,332 shares of the insurance provider’s stock valued at $2,203,000 after buying an additional 1,277 shares during the period. Hedge funds and other institutional investors own 82.45% of the company’s stock.

Travelers Companies Stock Down 1.8%

NYSE:TRV opened at $262.90 on Wednesday. The firm has a market capitalization of $59.38 billion, a PE ratio of 12.25, a price-to-earnings-growth ratio of 4.65 and a beta of 0.53. The stock has a 50 day moving average of $262.62 and a 200-day moving average of $254.17. The Travelers Companies, Inc. has a 52 week low of $200.21 and a 52 week high of $277.83. The company has a current ratio of 0.33, a quick ratio of 0.33 and a debt-to-equity ratio of 0.29.

Travelers Companies (NYSE:TRV) last issued its quarterly earnings data on Wednesday, April 16th. The insurance provider reported $1.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.53 by $1.38. The business had revenue of $10.52 billion during the quarter, compared to the consensus estimate of $10.97 billion. Travelers Companies had a return on equity of 19.06% and a net margin of 10.77%. During the same period in the previous year, the firm posted $4.69 earnings per share. Analysts predict that The Travelers Companies, Inc. will post 17.02 EPS for the current year.

Travelers Companies Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Tuesday, June 10th will be paid a dividend of $1.10 per share. The ex-dividend date of this dividend is Tuesday, June 10th. This is a positive change from Travelers Companies’s previous quarterly dividend of $1.05. This represents a $4.40 annualized dividend and a dividend yield of 1.67%. Travelers Companies’s dividend payout ratio (DPR) is currently 23.95%.

Insider Transactions at Travelers Companies

In related news, CEO Alan D. Schnitzer sold 35,456 shares of Travelers Companies stock in a transaction dated Thursday, May 29th. The stock was sold at an average price of $273.78, for a total transaction of $9,707,143.68. Following the sale, the chief executive officer now directly owns 262,329 shares of the company’s stock, valued at $71,820,433.62. This trade represents a 11.91% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP David Donnay Rowland sold 12,069 shares of the firm’s stock in a transaction dated Thursday, May 29th. The stock was sold at an average price of $274.01, for a total transaction of $3,307,026.69. Following the transaction, the executive vice president now owns 11,731 shares of the company’s stock, valued at approximately $3,214,411.31. This represents a 50.71% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 163,869 shares of company stock valued at $44,868,201 over the last quarter. Company insiders own 1.46% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have commented on the company. Barclays cut their price objective on Travelers Companies from $287.00 to $280.00 and set an “overweight” rating on the stock in a research report on Friday, April 11th. Wall Street Zen raised Travelers Companies from a “hold” rating to a “buy” rating in a research report on Tuesday, May 13th. Keefe, Bruyette & Woods raised their price objective on Travelers Companies from $290.00 to $303.00 and gave the company an “outperform” rating in a research report on Wednesday, May 28th. HSBC cut Travelers Companies from a “buy” rating to a “hold” rating and set a $270.00 price target for the company. in a research note on Monday, March 24th. Finally, JPMorgan Chase & Co. raised their price objective on Travelers Companies from $260.00 to $271.00 and gave the stock an “underweight” rating in a research note on Tuesday, April 8th. Three equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, Travelers Companies currently has an average rating of “Hold” and a consensus target price of $271.11.

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.