Diversify Advisory Services LLC acquired a new position in shares of The Travelers Companies, Inc. (NYSE:TRV – Free Report) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 13,360 shares of the insurance provider’s stock, valued at approximately $2,826,000.
Several other institutional investors and hedge funds have also recently modified their holdings of TRV. Gables Capital Management Inc. bought a new stake in shares of Travelers Companies during the 2nd quarter worth about $57,000. Wealthfront Advisers LLC bought a new position in Travelers Companies in the 2nd quarter valued at about $13,366,000. Global Strategic Investment Solutions LLC acquired a new stake in Travelers Companies during the second quarter worth approximately $330,000. Foster & Motley Inc. acquired a new stake in Travelers Companies during the second quarter worth approximately $6,204,000. Finally, Main Street Financial Solutions LLC bought a new stake in shares of Travelers Companies during the second quarter worth approximately $490,000. 82.45% of the stock is currently owned by institutional investors and hedge funds.
Insider Buying and Selling
In other Travelers Companies news, EVP Michael Frederick Klein sold 6,000 shares of Travelers Companies stock in a transaction that occurred on Tuesday, July 21st. The stock was sold at an average price of $366.09, for a total value of $2,196,540.00. Following the completion of 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP David Donnay Rowland sold 5,000 shares of Travelers Companies stock in a transaction on Wednesday, July 22nd. The shares were sold at an average price of $371.69, for a total transaction of $1,858,450.00. Following the completion of the sale, the executive vice president owned 10,479 shares of the company’s stock, valued at $3,894,939.51. This represents a 32.30% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 62,667 shares of company stock worth $22,688,329. Corporate insiders own 1.39% of the company’s stock.
Travelers Companies Stock Performance
Travelers Companies (NYSE:TRV – Get Free Report) last announced its quarterly earnings results on Friday, July 17th. The insurance provider reported $10.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.41 by $4.63. Travelers Companies had a net margin of 16.95% and a return on equity of 25.41%. The company had revenue of $12.15 billion during the quarter, compared to the consensus estimate of $11.26 billion. During the same period in the prior year, the business earned $6.51 earnings per share. The company’s revenue for the quarter was up .3% compared to the same quarter last year. As a group, analysts expect that The Travelers Companies, Inc. will post 33.82 earnings per share for the current fiscal year.
Travelers Companies Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Thursday, September 10th will be issued a dividend of $1.25 per share. The ex-dividend date is Thursday, September 10th. This represents a $5.00 annualized dividend and a yield of 1.4%. Travelers Companies’s dividend payout ratio (DPR) is presently 13.39%.
Analyst Ratings Changes
Several analysts recently issued reports on the company. Cantor Fitzgerald boosted their price target on Travelers Companies from $335.00 to $360.00 and gave the company an “overweight” rating in a research note on Thursday, July 9th. Morgan Stanley lifted their target price on Travelers Companies from $290.00 to $330.00 and gave the stock an “underweight” rating in a report on Tuesday, July 21st. Zacks Research raised shares of Travelers Companies from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, July 29th. The Goldman Sachs Group downgraded shares of Travelers Companies from a “neutral” rating to a “sell” rating and set a $350.00 price target on the stock. in a research note on Monday, July 20th. Finally, Piper Sandler raised their price target on shares of Travelers Companies to $340.00 and gave the stock an “overweight” rating in a research report on Monday, July 13th. Four equities research analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating, thirteen have assigned a Hold rating and five have issued a Sell rating to the stock. According to data from MarketBeat, Travelers Companies presently has an average rating of “Hold” and a consensus target price of $354.26.
Get Our Latest Research Report on Travelers Companies
Travelers Companies Profile
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.
Read More
- Five stocks we like better than Travelers Companies
- The AI Boom Is Turning This Cable Maker Into a Stock to Watch
- A Star Investor Just Trimmed Amazon—Here’s What It means
- Wendy’s Deal Buzz May Give Fast-Food Investors a New Reason to Look
- Home Depot Analysts See a Path to $375 and Beyond
Want to see what other hedge funds are holding TRV? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for The Travelers Companies, Inc. (NYSE:TRV – Free Report).
Receive News & Ratings for Travelers Companies Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Travelers Companies and related companies with MarketBeat.com's FREE daily email newsletter.
