CIBC Asset Management Inc Increases Stock Position in The Travelers Companies, Inc. $TRV

CIBC Asset Management Inc grew its stake in shares of The Travelers Companies, Inc. (NYSE:TRV) by 31.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 90,747 shares of the insurance provider’s stock after acquiring an additional 21,466 shares during the quarter. CIBC Asset Management Inc’s holdings in Travelers Companies were worth $26,322,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the stock. Chicago Partners Investment Group LLC boosted its holdings in shares of Travelers Companies by 1.9% during the 4th quarter. Chicago Partners Investment Group LLC now owns 1,949 shares of the insurance provider’s stock valued at $541,000 after acquiring an additional 36 shares during the last quarter. Greenleaf Trust boosted its holdings in shares of Travelers Companies by 0.4% during the 4th quarter. Greenleaf Trust now owns 10,036 shares of the insurance provider’s stock valued at $2,911,000 after acquiring an additional 37 shares during the last quarter. Allegiance Financial Group Advisory Services LLC boosted its holdings in shares of Travelers Companies by 3.4% during the 4th quarter. Allegiance Financial Group Advisory Services LLC now owns 1,130 shares of the insurance provider’s stock valued at $328,000 after acquiring an additional 37 shares during the last quarter. CYBER HORNET ETFs LLC boosted its holdings in shares of Travelers Companies by 6.0% during the 4th quarter. CYBER HORNET ETFs LLC now owns 656 shares of the insurance provider’s stock valued at $190,000 after acquiring an additional 37 shares during the last quarter. Finally, Ibex Wealth Advisors boosted its holdings in shares of Travelers Companies by 1.4% during the 3rd quarter. Ibex Wealth Advisors now owns 2,889 shares of the insurance provider’s stock valued at $807,000 after acquiring an additional 40 shares during the last quarter. Hedge funds and other institutional investors own 82.45% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently issued reports on TRV shares. Weiss Ratings reaffirmed a “buy (a-)” rating on shares of Travelers Companies in a report on Friday, May 8th. Evercore reaffirmed an “outperform” rating on shares of Travelers Companies in a report on Friday, April 17th. Seaport Research Partners set a $322.00 price target on shares of Travelers Companies in a report on Tuesday, May 26th. Keefe, Bruyette & Woods raised their price objective on shares of Travelers Companies from $340.00 to $342.00 and gave the stock an “outperform” rating in a report on Monday, April 20th. Finally, Piper Sandler raised their price objective on shares of Travelers Companies from $329.00 to $340.00 and gave the stock an “overweight” rating in a report on Tuesday, May 26th. Two analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating, eleven have given a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $311.47.

Travelers Companies Price Performance

NYSE TRV opened at $289.98 on Thursday. The Travelers Companies, Inc. has a 12 month low of $249.19 and a 12 month high of $313.12. The stock has a market cap of $61.66 billion, a price-to-earnings ratio of 8.63, a PEG ratio of 2.63 and a beta of 0.48. The company’s 50 day moving average is $298.78 and its two-hundred day moving average is $293.89. The company has a current ratio of 0.35, a quick ratio of 0.35 and a debt-to-equity ratio of 0.29.

Travelers Companies (NYSE:TRV) last released its earnings results on Thursday, April 16th. The insurance provider reported $7.71 EPS for the quarter, topping analysts’ consensus estimates of $6.80 by $0.91. Travelers Companies had a net margin of 15.54% and a return on equity of 24.06%. The company had revenue of $11.92 billion for the quarter, compared to analysts’ expectations of $11.11 billion. During the same quarter last year, the business earned $1.91 EPS. The firm’s revenue was down 1.7% compared to the same quarter last year. As a group, research analysts anticipate that The Travelers Companies, Inc. will post 28 earnings per share for the current year.

Travelers Companies Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Wednesday, June 10th will be given a dividend of $1.25 per share. The ex-dividend date is Wednesday, June 10th. This is an increase from Travelers Companies’s previous quarterly dividend of $1.10. This represents a $5.00 annualized dividend and a dividend yield of 1.7%. Travelers Companies’s dividend payout ratio (DPR) is 13.09%.

Insider Activity

In other news, EVP Jeffrey P. Klenk sold 6,414 shares of Travelers Companies stock in a transaction that occurred on Monday, April 20th. The shares were sold at an average price of $305.06, for a total transaction of $1,956,654.84. Following the sale, the executive vice president owned 6,075 shares in the company, valued at $1,853,239.50. This trade represents a 51.36% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Vice Chairman William H. Heyman sold 1,557 shares of Travelers Companies stock in a transaction that occurred on Tuesday, April 28th. The shares were sold at an average price of $310.64, for a total transaction of $483,666.48. Following the sale, the insider owned 259,590 shares in the company, valued at approximately $80,639,037.60. The trade was a 0.60% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 37,573 shares of company stock valued at $11,504,146. Company insiders own 1.39% 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.