Canada Pension Plan Investment Board Takes Position in The Travelers Companies, Inc. $TRV

Canada Pension Plan Investment Board purchased a new stake in shares of The Travelers Companies, Inc. (NYSE:TRV) in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm purchased 790,744 shares of the insurance provider’s stock, valued at approximately $174,351,000. Canada Pension Plan Investment Board owned about 0.38% of Travelers Companies as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Royal Capital Wealth Management LLC bought a new stake in shares of Travelers Companies in the 2nd quarter valued at $1,035,000. Legal & General Group Plc acquired a new stake in shares of Travelers Companies in the 2nd quarter valued at about $558,164,000. The Manufacturers Life Insurance Company bought a new stake in shares of Travelers Companies during the second quarter valued at approximately $43,658,000. The Manufacturers Life Insurance Company acquired a new position in Travelers Companies during the second quarter worth $271,418,000. Finally, Jones Financial Companies Lllp acquired a new stake in shares of Travelers Companies in the 2nd quarter worth about $19,770,000. 82.45% of the stock is owned by institutional investors and hedge funds.

Travelers Companies Price Performance

TRV stock opened at $371.02 on Thursday. The firm has a market cap of $77.39 billion, a P/E ratio of 9.94, a P/E/G ratio of 3.51 and a beta of 0.45. The firm’s fifty day moving average is $356.08 and its 200 day moving average is $319.95. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.33 and a current ratio of 0.33. The Travelers Companies, Inc. has a 52 week low of $252.26 and a 52 week high of $398.70.

Travelers Companies (NYSE:TRV) last issued its earnings results on Friday, July 17th. The insurance provider reported $10.04 earnings per share for the quarter, beating the consensus estimate of $5.41 by $4.63. Travelers Companies had a return on equity of 25.41% and a net margin of 16.95%.The company had revenue of $12.15 billion during the quarter, compared to analysts’ expectations of $11.26 billion. During the same period in the prior year, the business posted $6.51 EPS. Travelers Companies’s quarterly revenue was up .3% compared to the same quarter last year. Research analysts predict that The Travelers Companies, Inc. will post 33.82 earnings per share for the current year.

Travelers Companies Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Thursday, September 10th will be issued a dividend of $1.25 per share. This represents a $5.00 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date is Thursday, September 10th. Travelers Companies’s dividend payout ratio is currently 13.39%.

Insider Transactions at Travelers Companies

In related news, EVP Diane Kurtzman sold 4,164 shares of the stock in a transaction dated Friday, July 24th. The shares were sold at an average price of $386.71, for a total value of $1,610,260.44. Following the completion of the transaction, the executive vice president directly owned 5,298 shares of the company’s stock, valued at $2,048,789.58. This represents a 44.01% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Michael Frederick Klein sold 6,000 shares of the firm’s stock in a transaction that occurred on Tuesday, July 21st. The shares were sold at an average price of $366.09, for a total value of $2,196,540.00. Following the completion of the transaction, the executive vice president owned 45,125 shares of the company’s stock, valued at approximately $16,519,811.25. The trade was a 11.74% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 52,667 shares of company stock worth $19,611,829. Corporate insiders own 1.39% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on TRV. Piper Sandler raised their price objective on Travelers Companies to $340.00 and gave the company an “overweight” rating in a research note on Monday, July 13th. Bank of America upped their price target on Travelers Companies from $283.00 to $307.00 and gave the company an “underperform” rating in a research report on Monday, July 20th. Mizuho raised their price objective on shares of Travelers Companies from $324.00 to $343.00 and gave the stock a “neutral” rating in a report on Friday, July 24th. Wells Fargo & Company upped their price target on Travelers Companies from $295.00 to $334.00 and gave the company an “equal weight” rating in a research report on Thursday, July 9th. Finally, JPMorgan Chase & Co. raised Travelers Companies from an “underweight” rating to a “neutral” rating and lifted their price objective for the company from $316.00 to $322.00 in a research note on Tuesday, May 26th. Four research analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating, thirteen have issued a Hold rating and five have given a Sell rating to the stock. According to data from MarketBeat.com, Travelers Companies presently has an average rating of “Hold” and a consensus target price of $354.26.

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.