2,989 Shares in The Travelers Companies, Inc. $TRV Bought by Clear Harbor Asset Management LLC

Key Points

• Clear Harbor Asset Management initiated a position in Travelers Companies by purchasing 2,989 shares valued at approximately $987,000. Institutional investors collectively own 82.45% of the insurer.
• Travelers reported quarterly earnings of $10.04 per share, substantially exceeding the $5.41 analyst consensus, while revenue reached $12.15 billion. The stock opened at $363.83, above its 50-day and 200-day moving averages.
• The company declared a quarterly dividend of $1.25, equivalent to an annualized $5.00 payout and a 1.4% yield. Analysts maintain a consensus “Hold” rating with a $354.26 price target, while insiders sold more than $22.6 million of stock during the latest quarter.

Clear Harbor Asset Management LLC acquired a new position in shares of The Travelers Companies, Inc. (NYSE:TRV - Free Report) in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 2,989 shares of the insurance provider's stock, valued at approximately $987,000.

A number of other hedge funds have also bought and sold shares of TRV. Vanguard Group Inc. lifted its holdings in shares of Travelers Companies by 0.5% in the 4th quarter. Vanguard Group Inc. now owns 22,109,933 shares of the insurance provider's stock worth $6,413,207,000 after acquiring an additional 110,311 shares during the last quarter. BlackRock Inc. bought a new position in Travelers Companies during the 2nd quarter valued at about $6,915,909,000. State Street Corp raised its position in Travelers Companies by 3.1% in the 4th quarter. State Street Corp now owns 16,000,457 shares of the insurance provider's stock worth $4,641,093,000 after purchasing an additional 486,861 shares during the period. Morgan Stanley raised its position in Travelers Companies by 2.3% in the 4th quarter. Morgan Stanley now owns 3,793,750 shares of the insurance provider's stock worth $1,100,416,000 after purchasing an additional 85,298 shares during the period. Finally, Dimensional Fund Advisors LP lifted its stake in Travelers Companies by 3.7% in the first quarter. Dimensional Fund Advisors LP now owns 3,484,676 shares of the insurance provider's stock worth $1,016,433,000 after purchasing an additional 123,564 shares during the last quarter. Institutional investors own 82.45% of the company's stock.

Travelers Companies Stock Up 0.1%

Shares of NYSE:TRV opened at $363.83 on Monday. The business's 50 day moving average is $352.28 and its 200 day moving average is $318.35. The stock has a market cap of $75.89 billion, a P/E ratio of 9.74, a price-to-earnings-growth ratio of 3.46 and a beta of 0.45. The Travelers Companies, Inc. has a 52-week low of $252.26 and a 52-week high of $398.70. The company has a quick ratio of 0.33, a current ratio of 0.33 and a debt-to-equity ratio of 0.27.

Travelers Companies (NYSE:TRV - Get Free Report) last issued its earnings results on Friday, July 17th. The insurance provider reported $10.04 earnings per share for the quarter, beating analysts' consensus estimates of $5.41 by $4.63. Travelers Companies had a return on equity of 25.41% and a net margin of 16.95%.The business had revenue of $12.15 billion during the quarter, compared to analyst estimates of $11.26 billion. During the same period in the previous year, the company posted $6.51 EPS. Travelers Companies's revenue was up .3% on a year-over-year basis. Sell-side analysts predict that The Travelers Companies, Inc. will post 33.82 EPS for the current year.

Travelers Companies Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Thursday, September 10th will be paid 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 1.4%. Travelers Companies's dividend payout ratio is 13.39%.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on TRV shares. Bank of America boosted their target price on Travelers Companies from $283.00 to $307.00 and gave the company an "underperform" rating in a research report on Monday, July 20th. Deutsche Bank Aktiengesellschaft reissued a "hold" rating on shares of Travelers Companies in a research note on Tuesday, July 21st. Keefe, Bruyette & Woods reiterated a "market perform" rating and issued a $356.00 target price (up from $342.00) on shares of Travelers Companies in a research note on Wednesday, July 8th. UBS Group lifted their target price on Travelers Companies from $314.00 to $350.00 and gave the stock a "neutral" rating in a research report on Wednesday, July 8th. Finally, Cantor Fitzgerald boosted their target price on shares of Travelers Companies from $335.00 to $360.00 and gave the company an "overweight" rating in a research note on Thursday, July 9th. 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 assigned a Sell rating to the company's stock. According to MarketBeat, Travelers Companies presently has a consensus rating of "Hold" and a consensus price target of $354.26.

Insider Buying and Selling

In other news, EVP David Donnay Rowland sold 5,000 shares of the business's stock in a transaction dated Wednesday, July 22nd. The shares were sold at an average price of $371.69, for a total value of $1,858,450.00. Following the completion of the sale, the executive vice president owned 10,479 shares in the company, valued at approximately $3,894,939.51. The trade was a 32.30% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Diane Kurtzman sold 4,164 shares of the company's stock in a transaction that occurred on Friday, July 24th. The stock was sold at an average price of $386.71, for a total transaction of $1,610,260.44. Following the completion of the sale, the executive vice president directly owned 5,298 shares of the company's stock, valued at $2,048,789.58. The trade was a 44.01% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 62,667 shares of company stock valued at $22,688,329 over the last quarter. 1.39% of the stock is owned by company insiders.

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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