Bridgewater Advisors Inc. purchased a new stake in shares of The Travelers Companies, Inc. (NYSE:TRV – Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 2,250 shares of the insurance provider’s stock, valued at approximately $841,000.
A number of other hedge funds have also modified their holdings of TRV. LifeSteps Financial Inc. purchased a new position in shares of Travelers Companies during the 2nd quarter valued at $26,000. HHM Wealth Advisors LLC increased its stake in Travelers Companies by 145.7% in the 1st quarter. HHM Wealth Advisors LLC now owns 86 shares of the insurance provider’s stock worth $25,000 after buying an additional 51 shares in the last quarter. Kemnay Advisory Services Inc. purchased a new stake in Travelers Companies in the 4th quarter worth $26,000. Whipplewood Advisors LLC bought a new stake in Travelers Companies during the first quarter valued at about $26,000. Finally, Osterweis Capital Management Inc. raised its holdings in Travelers Companies by 1,820.0% during the second quarter. Osterweis Capital Management Inc. now owns 96 shares of the insurance provider’s stock valued at $26,000 after acquiring an additional 91 shares during the period. 82.45% of the stock is currently owned by institutional investors.
Insider Buying and Selling at Travelers Companies
In related news, CFO Daniel S. Frey sold 14,037 shares of the business’s stock in a transaction on Tuesday, July 21st. The shares were sold at an average price of $368.24, for a total value of $5,168,984.88. Following the sale, the chief financial officer owned 27,535 shares in the company, valued at approximately $10,139,488.40. The trade was a 33.77% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Michael Frederick Klein sold 6,000 shares of the company’s stock in a transaction on Tuesday, July 21st. The shares were sold at an average price of $366.09, for a total transaction of $2,196,540.00. Following the sale, the executive vice president directly owned 45,125 shares in the company, 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. Over the last ninety days, insiders sold 62,667 shares of company stock worth $22,688,329. Company insiders own 1.39% of the company’s stock.
Travelers Companies Trading Up 0.1%
Travelers Companies (NYSE:TRV – Get Free Report) last posted its earnings results on Friday, July 17th. The insurance provider reported $10.04 EPS for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $11.26 billion. During the same period in the previous year, the business earned $6.51 earnings per share. The firm’s revenue for the quarter was up .3% on a year-over-year basis. Equities research analysts anticipate that The Travelers Companies, Inc. will post 33.82 EPS for the current fiscal year.
Travelers Companies Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Thursday, September 10th will be paid a $1.25 dividend. The ex-dividend date of this dividend is Thursday, September 10th. This represents a $5.00 dividend on an annualized basis and a yield of 1.3%. Travelers Companies’s payout ratio is presently 13.39%.
Analyst Upgrades and Downgrades
A number of equities analysts have recently weighed in on the company. The Goldman Sachs Group lowered Travelers Companies from a “neutral” rating to a “sell” rating and set a $350.00 price objective for the company. in a research note on Monday, July 20th. Cantor Fitzgerald lifted their target price on Travelers Companies from $335.00 to $360.00 and gave the company an “overweight” rating in a research note on Thursday, July 9th. TD Cowen cut Travelers Companies from a “hold” rating to a “sell” rating and set a $297.00 price target on the stock. in a report on Monday, July 13th. BMO Capital Markets downgraded Travelers Companies from an “outperform” rating to a “market perform” rating and upped their price target for the stock from $314.00 to $379.00 in a research note on Tuesday, July 21st. Finally, Seaport Research Partners set a $322.00 price objective on shares of Travelers Companies in a report 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 assigned a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $354.26.
Get Our Latest Stock Report on TRV
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.
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