127,400 Shares in The Travelers Companies, Inc. $TRV Purchased by Cibc World Market Inc.

Key Points

• Cibc World Market Inc. acquired 127,400 shares of Travelers Companies during the second quarter, valued at approximately $28.1 million. Institutional investors and hedge funds collectively own 82.45% of TRV.
• Travelers reported quarterly EPS of $10.04, far exceeding the $5.41 consensus estimate, while revenue reached $12.15 billion versus expectations of $11.26 billion. Analysts expect full-year EPS of $33.82.
• The company declared a quarterly dividend of $1.25 per share, equivalent to $5.00 annually and a 1.4% yield. Despite a consensus “Hold” rating and average price target of $354.26, analyst views range from “Sell” to “Strong Buy.”

Cibc World Market Inc. acquired a new stake in shares of The Travelers Companies, Inc. (NYSE:TRV - Free Report) in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 127,400 shares of the insurance provider's stock, valued at approximately $28,090,000. Cibc World Market Inc. owned approximately 0.06% of Travelers Companies at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Arbejdsmarkedets Tillaegspension purchased a new stake in shares of Travelers Companies in the fourth quarter valued at $24,167,000. Rit Capital Partners PLC purchased a new position in shares of Travelers Companies during the fourth quarter valued at $39,450,000. UBS Group AG grew its holdings in shares of Travelers Companies by 5.3% during the fourth quarter. UBS Group AG now owns 1,774,756 shares of the insurance provider's stock valued at $514,786,000 after buying an additional 89,159 shares in the last quarter. OMERS ADMINISTRATION Corp raised its position in Travelers Companies by 34.6% during the first quarter. OMERS ADMINISTRATION Corp now owns 13,006 shares of the insurance provider's stock valued at $3,794,000 after buying an additional 3,342 shares during the period. Finally, Swiss Life Asset Management Ltd raised its position in Travelers Companies by 41.5% during the fourth quarter. Swiss Life Asset Management Ltd now owns 66,016 shares of the insurance provider's stock valued at $19,149,000 after buying an additional 19,347 shares during the period. 82.45% of the stock is currently owned by institutional investors and hedge funds.

Travelers Companies Stock Performance

Shares of TRV opened at $363.83 on Monday. The firm has a market cap of $75.89 billion, a price-to-earnings ratio of 9.74, a price-to-earnings-growth ratio of 3.46 and a beta of 0.45. The company's fifty day moving average is $352.28 and its 200-day moving average is $318.35. 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 12 month low of $252.26 and a 12 month high of $398.70.

Travelers Companies (NYSE:TRV - Get Free Report) last issued its quarterly earnings data on Friday, July 17th. The insurance provider reported $10.04 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $5.41 by $4.63. The firm had revenue of $12.15 billion during the quarter, compared to analysts' expectations of $11.26 billion. Travelers Companies had a net margin of 16.95% and a return on equity of 25.41%. Travelers Companies's revenue for the quarter was up .3% on a year-over-year basis. During the same period in the prior year, the company posted $6.51 earnings per share. Equities analysts expect that The Travelers Companies, Inc. will post 33.82 EPS 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 dividend yield of 1.4%. Travelers Companies's payout ratio is currently 13.39%.

Insider Activity at Travelers Companies

In related news, EVP David Donnay Rowland sold 5,000 shares of the firm's stock in a transaction that occurred on Wednesday, July 22nd. The stock was sold at an average price of $371.69, for a total value of $1,858,450.00. Following the transaction, the executive vice president directly owned 10,479 shares of the company's stock, valued at approximately $3,894,939.51. This trade represents a 32.30% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Michael Frederick Klein sold 6,000 shares of the business'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 disclosure for this sale is available in the SEC filing. Insiders have sold a total of 62,667 shares of company stock worth $22,688,329 in the last 90 days. Insiders own 1.39% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have commented on TRV. TD Cowen lowered Travelers Companies from a "hold" rating to a "sell" rating and set a $297.00 price objective for the company. in a research report on Monday, July 13th. Morgan Stanley upped their target price on Travelers Companies from $290.00 to $330.00 and gave the company an "underweight" rating in a report on Tuesday, July 21st. Piper Sandler increased 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. Cantor Fitzgerald raised their price target on shares of Travelers Companies from $335.00 to $360.00 and gave the stock an "overweight" rating in a report on Thursday, July 9th. Finally, Roth Capital boosted their price objective 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 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 issued a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $354.26.

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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