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

CIBC Asset Management Inc increased its position in shares of The Travelers Companies, Inc. (NYSE:TRV) by 5.4% during the fourth quarter, Holdings Channel reports. The institutional investor owned 35,142 shares of the insurance provider’s stock after buying an additional 1,805 shares during the quarter. CIBC Asset Management Inc’s holdings in Travelers Companies were worth $8,465,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the company. Catalyst Capital Advisors LLC increased its stake in shares of Travelers Companies by 71.2% during the fourth quarter. Catalyst Capital Advisors LLC now owns 363 shares of the insurance provider’s stock worth $87,000 after buying an additional 151 shares during the period. Strategic Advisors LLC increased its stake in shares of Travelers Companies by 7.1% during the fourth quarter. Strategic Advisors LLC now owns 3,276 shares of the insurance provider’s stock worth $789,000 after buying an additional 218 shares during the period. Monument Capital Management increased its stake in shares of Travelers Companies by 17.3% during the fourth quarter. Monument Capital Management now owns 1,536 shares of the insurance provider’s stock worth $370,000 after buying an additional 226 shares during the period. Pinnacle Wealth Management Advisory Group LLC increased its stake in shares of Travelers Companies by 1.2% during the fourth quarter. Pinnacle Wealth Management Advisory Group LLC now owns 3,414 shares of the insurance provider’s stock worth $822,000 after buying an additional 41 shares during the period. Finally, Valmark Advisers Inc. increased its stake in Travelers Companies by 5.4% in the fourth quarter. Valmark Advisers Inc. now owns 940 shares of the insurance provider’s stock valued at $226,000 after purchasing an additional 48 shares during the last quarter. 82.45% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Travelers Companies news, Vice Chairman William H. Heyman sold 3,740 shares of the stock in a transaction on Monday, November 25th. The stock was sold at an average price of $264.80, for a total value of $990,352.00. Following the completion of the transaction, the insider now owns 250,384 shares in the company, valued at approximately $66,301,683.20. This represents a 1.47 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 1.33% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several brokerages have commented on TRV. Piper Sandler upgraded shares of Travelers Companies from a “neutral” rating to an “overweight” rating and increased their price target for the company from $259.00 to $310.00 in a research note on Friday, January 24th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $268.00 price target (down from $273.00) on shares of Travelers Companies in a research note on Thursday, January 23rd. Janney Montgomery Scott lowered shares of Travelers Companies from a “buy” rating to a “neutral” rating and set a $280.00 price target on the stock. in a research note on Thursday, November 21st. The Goldman Sachs Group upgraded shares of Travelers Companies from a “sell” rating to a “buy” rating and set a $278.00 price target on the stock in a research note on Wednesday, January 8th. Finally, HSBC upgraded shares of Travelers Companies from a “hold” rating to a “buy” rating and set a $290.00 price target on the stock in a research note on Tuesday, December 10th. Four research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Travelers Companies presently has an average rating of “Hold” and an average price target of $260.47.

Travelers Companies Price Performance

Shares of NYSE TRV opened at $237.82 on Wednesday. The company has a debt-to-equity ratio of 0.29, a current ratio of 0.33 and a quick ratio of 0.34. The stock has a fifty day moving average price of $242.48 and a 200 day moving average price of $241.12. The Travelers Companies, Inc. has a 1-year low of $200.21 and a 1-year high of $269.55. The company has a market cap of $53.99 billion, a PE ratio of 11.08, a P/E/G ratio of 1.08 and a beta of 0.64.

Travelers Companies (NYSE:TRV) last issued its quarterly earnings results on Wednesday, January 22nd. The insurance provider reported $9.15 earnings per share for the quarter, topping the consensus estimate of $6.50 by $2.65. The firm had revenue of $12.01 billion during the quarter, compared to the consensus estimate of $10.80 billion. Travelers Companies had a return on equity of 19.06% and a net margin of 10.77%. The company’s revenue for the quarter was up 9.9% on a year-over-year basis. During the same period last year, the company earned $7.01 earnings per share. Sell-side analysts forecast that The Travelers Companies, Inc. will post 20.57 EPS for the current year.

Travelers Companies Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 10th will be given a $1.05 dividend. This represents a $4.20 annualized dividend and a yield of 1.77%. The ex-dividend date of this dividend is Monday, March 10th. Travelers Companies’s payout ratio is 19.56%.

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.