Caisse de depot et placement du Quebec bought a new position in shares of The Travelers Companies, Inc. (NYSE:TRV – Free Report) in the 2nd quarter, HoldingsChannel.com reports. The fund bought 407,011 shares of the insurance provider’s stock, valued at approximately $134,362,000.
Several other large investors have also modified their holdings of the business. BlackRock Inc. purchased a new position in shares of Travelers Companies during the 2nd quarter worth $6,915,909,000. Legal & General Group Plc purchased a new stake in Travelers Companies in the 2nd quarter valued at about $799,601,000. Norges Bank acquired a new position in Travelers Companies in the fourth quarter valued at about $723,339,000. GQG Partners LLC acquired a new position in Travelers Companies in the second quarter valued at about $789,024,000. Finally, Bank of New York Mellon Corp purchased a new position in Travelers Companies during the second quarter worth about $469,505,000. Institutional investors and hedge funds own 82.45% of the company’s stock.
Insider Buying and Selling
In related news, CFO Daniel S. Frey sold 14,037 shares of the company’s stock in a transaction that occurred on Tuesday, July 21st. The shares were sold at an average price of $368.24, for a total transaction of $5,168,984.88. Following the sale, the chief financial officer directly owned 27,535 shares in the company, valued at approximately $10,139,488.40. This represents a 33.77% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Daniel Tei-Hwa Yin sold 7,153 shares of the firm’s stock in a transaction that occurred on Friday, July 24th. The shares were sold at an average price of $387.00, for a total transaction of $2,768,211.00. Following the completion of the sale, the executive vice president directly owned 68,834 shares in the company, valued at approximately $26,638,758. This trade represents a 9.41% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 52,667 shares of company stock worth $19,611,829 over the last ninety days. Company 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 data on Friday, July 17th. The insurance provider reported $10.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.41 by $4.63. The business had revenue of $12.15 billion for the quarter, compared to analysts’ expectations of $11.26 billion. Travelers Companies had a return on equity of 25.41% and a net margin of 16.95%.The company’s revenue for the quarter was up .3% compared to the same quarter last year. During the same period last year, the firm earned $6.51 earnings per share. As a group, equities analysts anticipate that The Travelers Companies, Inc. will post 33.82 earnings per share for the current fiscal year.
Travelers Companies Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Thursday, September 10th will be given 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 dividend payout ratio (DPR) is currently 13.39%.
Analysts Set New Price Targets
A number of equities research analysts have weighed in on TRV shares. Barclays lifted their price target on shares of Travelers Companies from $295.00 to $318.00 and gave the company an “underweight” rating in a research report on Tuesday, July 21st. Morgan Stanley upped their price objective on shares of Travelers Companies from $290.00 to $330.00 and gave the stock an “underweight” rating in a report on Tuesday, July 21st. Seaport Research Partners set a $322.00 target price on shares of Travelers Companies in a report on Tuesday, May 26th. Piper Sandler lifted their target price on shares of Travelers Companies to $340.00 and gave the company an “overweight” rating in a report on Monday, July 13th. Finally, Wells Fargo & Company boosted their target price on Travelers Companies from $295.00 to $334.00 and gave the company an “equal weight” rating in a research report on Thursday, July 9th. Four investment 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 assigned a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $354.26.
Check Out 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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