Natixis grew its holdings in shares of The Travelers Companies, Inc. (NYSE:TRV – Get Rating) by 234.3% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 94,008 shares of the insurance provider’s stock after purchasing an additional 65,888 shares during the quarter. Natixis’ holdings in Travelers Companies were worth $17,626,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. FWL Investment Management LLC purchased a new position in shares of Travelers Companies in the fourth quarter worth $28,000. US Asset Management LLC bought a new stake in shares of Travelers Companies during the 4th quarter valued at $29,000. Glass Jacobson Investment Advisors llc bought a new stake in shares of Travelers Companies during the 4th quarter valued at $38,000. Motco boosted its stake in Travelers Companies by 75.4% in the 4th quarter. Motco now owns 214 shares of the insurance provider’s stock worth $40,000 after purchasing an additional 92 shares in the last quarter. Finally, Sittner & Nelson LLC boosted its stake in Travelers Companies by 2,812.5% in the 4th quarter. Sittner & Nelson LLC now owns 233 shares of the insurance provider’s stock worth $44,000 after purchasing an additional 225 shares in the last quarter. Institutional investors own 81.59% of the company’s stock.
Travelers Companies Stock Up 0.4 %
NYSE TRV opened at $176.75 on Friday. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.33 and a current ratio of 0.33. The company has a market capitalization of $40.83 billion, a P/E ratio of 15.07, a P/E/G ratio of 1.32 and a beta of 0.61. The Travelers Companies, Inc. has a one year low of $149.65 and a one year high of $194.51. The stock has a 50 day moving average price of $177.35 and a 200-day moving average price of $180.95.
Travelers Companies Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Friday, June 30th. Investors of record on Friday, June 9th will be issued a dividend of $1.00 per share. This is an increase from Travelers Companies’s previous quarterly dividend of $0.93. The ex-dividend date of this dividend is Thursday, June 8th. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.26%. Travelers Companies’s payout ratio is 34.10%.
Travelers Companies declared that its board has authorized a share repurchase plan on Wednesday, April 19th that permits the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization permits the insurance provider to repurchase up to 12.2% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board of directors believes its stock is undervalued.
Analyst Upgrades and Downgrades
A number of brokerages have weighed in on TRV. Jefferies Financial Group decreased their target price on Travelers Companies from $188.00 to $182.00 and set a “hold” rating for the company in a research report on Monday, April 10th. Barclays upped their price target on shares of Travelers Companies from $179.00 to $185.00 in a research report on Thursday, April 20th. Piper Sandler upped their price target on shares of Travelers Companies from $196.00 to $204.00 and gave the company a “neutral” rating in a research report on Tuesday, April 4th. JPMorgan Chase & Co. upped their price target on shares of Travelers Companies from $180.00 to $185.00 and gave the company an “overweight” rating in a research report on Friday, March 31st. Finally, StockNews.com raised shares of Travelers Companies from a “hold” rating to a “buy” rating in a research report on Friday, May 12th. Nine investment analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $193.29.
Insider Activity at Travelers Companies
In other news, CFO Daniel S. Frey sold 37,316 shares of the business’s stock in a transaction that occurred on Friday, April 21st. The stock was sold at an average price of $179.08, for a total value of $6,682,549.28. Following the completion of the sale, the chief financial officer now directly owns 11,703 shares in the company, valued at $2,095,773.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Travelers Companies news, CFO Daniel S. Frey sold 37,316 shares of the business’s stock in a transaction on Friday, April 21st. The stock was sold at an average price of $179.08, for a total transaction of $6,682,549.28. Following the transaction, the chief financial officer now owns 11,703 shares of the company’s stock, valued at $2,095,773.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Michael Frederick Klein sold 10,246 shares of the company’s stock in a transaction on Wednesday, May 10th. The shares were sold at an average price of $182.85, for a total value of $1,873,481.10. Following the completion of the transaction, the executive vice president now directly owns 14,080 shares in the company, valued at approximately $2,574,528. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 59,134 shares of company stock worth $10,617,466. 1.29% of the stock is owned by corporate insiders.
Travelers Companies Profile
The Travelers Cos., Inc is a holding company, which engages in the provision of commercial and personal property and casualty insurance products and services. It operates through the following business segments: Business Insurance, Bond and Specialty Insurance, and Personal Insurance. The Business Insurance segment provides an array of property and casualty insurance, and insurance related services to its customers primarily in the U.S., as well as in Canada, the United Kingdom, the Republic of Ireland and throughout other parts of the world as a corporate member of Lloyd’s.
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