Peak Asset Management LLC purchased a new stake in shares of The Travelers Companies, Inc. (NYSE:TRV - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 4,242 shares of the insurance provider's stock, valued at approximately $935,000.
A number of other hedge funds have also modified their holdings of the company. Berman McAleer LLC lifted its stake in shares of Travelers Companies by 3.5% during the 2nd quarter. Berman McAleer LLC now owns 894 shares of the insurance provider's stock valued at $295,000 after buying an additional 30 shares in the last quarter. Willner & Heller LLC lifted its position in shares of Travelers Companies by 2.7% in the second quarter. Willner & Heller LLC now owns 1,206 shares of the insurance provider's stock valued at $398,000 after acquiring an additional 32 shares in the last quarter. Spinnaker Trust boosted its stake in shares of Travelers Companies by 1.7% in the first quarter. Spinnaker Trust now owns 1,938 shares of the insurance provider's stock worth $565,000 after acquiring an additional 33 shares during the period. Cim LLC raised its stake in Travelers Companies by 0.4% during the 4th quarter. Cim LLC now owns 8,145 shares of the insurance provider's stock valued at $2,363,000 after purchasing an additional 34 shares during the period. Finally, Avalon Trust Co lifted its holdings in Travelers Companies by 0.4% in the 1st quarter. Avalon Trust Co now owns 8,784 shares of the insurance provider's stock worth $2,562,000 after purchasing an additional 35 shares in the last quarter. 82.45% of the stock is currently owned by institutional investors.
Analyst Ratings Changes
Several equities analysts recently weighed in on TRV shares. JPMorgan Chase & Co. upgraded shares of Travelers Companies from an "underweight" rating to a "neutral" rating and lifted their price target for the company from $316.00 to $322.00 in a report on Tuesday, May 26th. Weiss Ratings upgraded Travelers Companies from a "buy (a-)" rating to a "buy (a)" rating in a report on Thursday. Truist Financial upped 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. Wells Fargo & Company lifted their target price on Travelers Companies from $295.00 to $334.00 and gave the stock an "equal weight" rating in a report on Thursday, July 9th. Finally, Raymond James Financial set a $430.00 target price on shares of Travelers Companies in a research note on Monday, July 20th. Four 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 issued a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $354.26.
Read Our Latest Research Report on TRV
Travelers Companies Stock Up 1.9%
NYSE:TRV opened at $370.65 on Tuesday. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.33 and a quick ratio of 0.33. The company's fifty day moving average price is $353.55 and its 200-day moving average price is $318.93. The Travelers Companies, Inc. has a 1-year low of $252.26 and a 1-year high of $398.70. The firm has a market capitalization of $77.31 billion, a P/E ratio of 9.93, a PEG ratio of 3.46 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, beating the consensus estimate of $5.41 by $4.63. The company had revenue of $12.15 billion for the quarter, compared to analyst estimates of $11.26 billion. Travelers Companies had a net margin of 16.95% and a return on equity of 25.41%. The firm's revenue was up .3% on a year-over-year basis. During the same period in the prior year, the company earned $6.51 earnings per share. As a group, equities research analysts anticipate that The Travelers Companies, Inc. will post 33.82 EPS for the current year.
Travelers Companies Announces Dividend
The firm 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 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 yield of 1.3%. Travelers Companies's dividend payout ratio is currently 13.39%.
Insider Buying and Selling
In other news, EVP Daniel Tei-Hwa Yin sold 7,153 shares of the business's stock in a transaction that occurred on Friday, July 24th. The stock was sold at an average price of $387.00, for a total value 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 $26,638,758. The trade was a 9.41% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Diane Kurtzman sold 4,164 shares of the 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 transaction, the executive vice president owned 5,298 shares in the company, valued at $2,048,789.58. This trade represents a 44.01% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 52,667 shares of company stock valued at $19,611,829 in the last 90 days. Corporate insiders own 1.39% of the company's stock.
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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