1ST Source Bank acquired a new stake in The Travelers Companies, Inc. (NYSE:TRV - Free Report) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 13,562 shares of the insurance provider's stock, valued at approximately $4,477,000.
Several other institutional investors have also recently added to or reduced their stakes in the business. Norges Bank acquired a new stake in shares of Travelers Companies in the fourth quarter worth approximately $723,339,000. Bank of New York Mellon Corp acquired a new position in shares of Travelers Companies in the 2nd quarter valued at $469,505,000. State Street Corp grew its stake in shares of Travelers Companies by 3.1% during the 4th quarter. State Street Corp now owns 16,000,457 shares of the insurance provider's stock valued at $4,641,093,000 after buying an additional 486,861 shares during the period. AustralianSuper Pty Ltd increased its holdings in shares of Travelers Companies by 102.0% during the 4th quarter. AustralianSuper Pty Ltd now owns 908,559 shares of the insurance provider's stock worth $263,537,000 after buying an additional 458,746 shares during the last quarter. Finally, Amundi increased its holdings in shares of Travelers Companies by 36.6% during the 1st quarter. Amundi now owns 1,392,468 shares of the insurance provider's stock worth $406,155,000 after buying an additional 373,061 shares during the last quarter. 82.45% of the stock is currently owned by institutional investors and hedge funds.
Travelers Companies Stock Performance
NYSE:TRV opened at $370.49 on Monday. The firm's fifty day simple moving average is $345.99 and its 200 day simple moving average is $315.49. The company has a current ratio of 0.33, a quick 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 firm has a market capitalization of $77.27 billion, a price-to-earnings ratio of 9.92, a PEG ratio of 3.52 and a beta of 0.45.
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, beating the consensus estimate of $5.41 by $4.63. The firm had revenue of $12.15 billion during the quarter, compared to the consensus estimate of $11.26 billion. Travelers Companies had a return on equity of 25.41% and a net margin of 16.95%.The firm's quarterly revenue was up .3% compared to the same quarter last year. During the same period in the prior year, the firm earned $6.51 EPS. As a group, equities research analysts expect that The Travelers Companies, Inc. will post 33.82 earnings per share for the current fiscal year.
Travelers Companies Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Thursday, September 10th will be paid a dividend of $1.25 per share. The ex-dividend date is Thursday, September 10th. This represents a $5.00 dividend on an annualized basis and a dividend yield of 1.3%. Travelers Companies's dividend payout ratio (DPR) is currently 13.39%.
Wall Street Analyst Weigh In
A number of brokerages recently weighed in on TRV. UBS Group lifted their target price on Travelers Companies from $314.00 to $350.00 and gave the company a "neutral" rating in a report on Wednesday, July 8th. Mizuho upped their price target on Travelers Companies from $324.00 to $343.00 and gave the stock a "neutral" rating in a research note on Friday, July 24th. Truist Financial raised their price objective on Travelers Companies from $395.00 to $425.00 and gave the stock a "buy" rating in a report on Monday, July 20th. TD Cowen lowered Travelers Companies from a "hold" rating to a "sell" rating and set a $297.00 price objective on the stock. in a research note on Monday, July 13th. Finally, Keefe, Bruyette & Woods reiterated a "market perform" rating and set a $356.00 target price (up from $342.00) on shares of Travelers Companies in a report on Wednesday, July 8th. Four research analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating, thirteen have assigned a Hold rating and five have assigned a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $354.26.
Check Out Our Latest Research Report on TRV
Insider Buying and Selling at Travelers Companies
In related news, EVP Mojgan M. Lefebvre sold 16,313 shares of Travelers Companies stock in a transaction on Tuesday, July 21st. The shares were sold at an average price of $368.38, for a total transaction of $6,009,382.94. Following the sale, the executive vice president owned 9,213 shares of the company's stock, valued at $3,393,884.94. The trade was a 63.91% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Michael Frederick Klein sold 10,000 shares of Travelers Companies stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $307.65, for a total transaction of $3,076,500.00. Following the sale, the executive vice president directly owned 45,125 shares in the company, valued at $13,882,706.25. This trade represents a 18.14% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 62,667 shares of company stock valued at $22,688,329. 1.39% of the stock is owned by company insiders.
About Travelers Companies
(
Free Report)
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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