Great Lakes Advisors LLC acquired a new position in shares of The Travelers Companies, Inc. (NYSE:TRV – Free Report) in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 497,787 shares of the insurance provider’s stock, valued at approximately $109,757,000. Great Lakes Advisors LLC owned 0.24% of Travelers Companies as of its most recent SEC filing.
Other large investors also recently made changes to their positions in the company. BlackRock Inc. bought a new stake in Travelers Companies in the 2nd quarter valued at $6,915,909,000. Norges Bank bought a new stake in shares of Travelers Companies in the fourth quarter valued at about $723,339,000. Bank of New York Mellon Corp acquired a new position in shares of Travelers Companies in the second quarter valued at about $469,505,000. Deutsche Bank AG bought a new position in Travelers Companies during the second quarter worth about $301,772,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. acquired a new stake in Travelers Companies in the 2nd quarter worth about $205,539,000. Institutional investors own 82.45% of the company’s stock.
Analysts Set New Price Targets
Several research analysts have recently commented on the stock. Seaport Research Partners set a $322.00 target price on shares of Travelers Companies in a report on Tuesday, May 26th. Citigroup reissued a “market perform” rating on shares of Travelers Companies in a research report on Monday, July 20th. Truist Financial lifted their price objective on Travelers Companies from $395.00 to $425.00 and gave the company a “buy” rating in a report on Monday, July 20th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating on shares of Travelers Companies in a research report on Tuesday, July 21st. Finally, Roth Capital boosted their target price on shares of Travelers Companies from $345.00 to $425.00 and gave the company a “buy” rating in a research report on Tuesday, July 21st. Four investment analysts have rated the stock with a Strong Buy rating, four have given a Buy rating, thirteen have assigned a Hold rating and five have given a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $354.26.
Travelers Companies Stock Performance
NYSE:TRV opened at $367.96 on Wednesday. The company has a quick ratio of 0.33, a current ratio of 0.33 and a debt-to-equity ratio of 0.27. The Travelers Companies, Inc. has a twelve month low of $252.26 and a twelve month high of $398.70. The company has a fifty day moving average of $348.71 and a 200-day moving average of $316.68. The firm has a market capitalization of $76.74 billion, a P/E ratio of 9.85, a P/E/G ratio of 3.52 and a beta of 0.45.
Travelers Companies (NYSE:TRV – Get Free Report) last posted its quarterly 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 net margin of 16.95% and a return on equity of 25.41%. The business had revenue of $12.15 billion during the quarter, compared to analysts’ expectations of $11.26 billion. During the same period last year, the company posted $6.51 earnings per share. The business’s quarterly revenue was up .3% on a year-over-year basis. As a group, sell-side analysts anticipate that The Travelers Companies, Inc. will post 33.82 EPS for the current year.
Travelers Companies Dividend Announcement
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 paid a $1.25 dividend. The ex-dividend date is Thursday, September 10th. This represents a $5.00 annualized dividend and a dividend yield of 1.4%. Travelers Companies’s dividend payout ratio (DPR) is currently 13.39%.
Insiders Place Their Bets
In other Travelers Companies news, EVP Michael Frederick Klein sold 6,000 shares of the firm’s 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 owned 45,125 shares of the company’s stock, valued at approximately $16,519,811.25. This trade represents a 11.74% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Diane Kurtzman sold 4,164 shares of the business’s stock in a transaction that occurred on 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 sale, the executive vice president owned 5,298 shares of the company’s stock, valued at approximately $2,048,789.58. This represents a 44.01% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 62,667 shares of company stock worth $22,688,329 over the last three months. Insiders own 1.39% of the company’s stock.
Travelers Companies Company 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.
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