Allworth Financial LP Purchases Shares of 10,542 The Travelers Companies, Inc. $TRV

Key Points

• Allworth Financial initiated a position in Travelers Companies by purchasing 10,542 shares worth approximately $3.48 million. Institutional investors collectively own 82.45% of the insurer.
• Travelers reported quarterly earnings of $10.04 per share, far exceeding the $5.41 consensus estimate, while revenue reached $12.15 billion versus expectations of $11.26 billion.
• Analysts maintain a consensus “Hold” rating with a $354.26 price target. Travelers also declared a quarterly dividend of $1.25, equivalent to $5.00 annually and a 1.4% yield.

Allworth Financial LP purchased a new position in The Travelers Companies, Inc. (NYSE:TRV - Free Report) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 10,542 shares of the insurance provider's stock, valued at approximately $3,480,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Berman McAleer LLC raised its stake in 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 purchasing an additional 30 shares during the period. Willner & Heller LLC grew its holdings in Travelers Companies by 2.7% during the 2nd quarter. Willner & Heller LLC now owns 1,206 shares of the insurance provider's stock valued at $398,000 after buying an additional 32 shares in the last quarter. Spinnaker Trust raised its position in shares of Travelers Companies by 1.7% during the first quarter. Spinnaker Trust now owns 1,938 shares of the insurance provider's stock valued at $565,000 after buying an additional 33 shares during the last quarter. Cim LLC lifted its holdings in shares of Travelers Companies by 0.4% in the fourth quarter. Cim LLC now owns 8,145 shares of the insurance provider's stock worth $2,363,000 after buying an additional 34 shares in the last quarter. Finally, Avalon Trust Co lifted its holdings in shares of Travelers Companies by 0.4% in the first quarter. Avalon Trust Co now owns 8,784 shares of the insurance provider's stock worth $2,562,000 after buying an additional 35 shares in the last quarter. 82.45% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

TRV has been the subject of a number of research analyst reports. The Goldman Sachs Group lowered Travelers Companies from a "neutral" rating to a "sell" rating and set a $350.00 price objective for the company. in a research report on Monday, July 20th. Citigroup reiterated a "market perform" rating on shares of Travelers Companies in a research report on Monday, July 20th. Barclays increased their price target on Travelers Companies from $295.00 to $318.00 and gave the company an "underweight" rating in a research note on Tuesday, July 21st. Seaport Research Partners set a $322.00 price target on Travelers Companies in a report on Tuesday, May 26th. Finally, Piper Sandler lifted their price objective on Travelers Companies to $340.00 and gave the stock an "overweight" rating in a research note on Monday, July 13th. Four analysts have rated the stock with a Strong Buy rating, four have given a Buy rating, thirteen have assigned a Hold rating and five have assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $354.26.

Travelers Companies Stock Performance

TRV stock opened at $363.83 on Friday. The Travelers Companies, Inc. has a 1-year low of $252.26 and a 1-year high of $398.70. The business has a 50-day moving average price of $352.28 and a 200 day moving average price of $318.12. The company has a market capitalization of $75.88 billion, a P/E ratio of 9.74, a PEG ratio of 3.46 and a beta of 0.45. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.33 and a quick ratio of 0.33.

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 for the quarter, topping the consensus estimate 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%. The company's revenue was up .3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $6.51 EPS. As a group, equities research analysts forecast that The Travelers Companies, Inc. will post 33.82 EPS for the current fiscal year.

Travelers Companies Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Thursday, September 10th will be issued a $1.25 dividend. The ex-dividend date is Thursday, September 10th. This represents a $5.00 dividend on an annualized basis and a dividend yield of 1.4%. Travelers Companies's dividend payout ratio (DPR) is currently 13.39%.

Insiders Place Their Bets

In other Travelers Companies news, 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 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. This trade represents a 9.41% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Daniel S. Frey sold 14,037 shares of Travelers Companies stock in a transaction on Tuesday, July 21st. The stock was sold at an average price of $368.24, for a total transaction of $5,168,984.88. Following the completion of the transaction, the chief financial officer directly owned 27,535 shares in the company, valued at $10,139,488.40. This represents a 33.77% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 62,667 shares of company stock valued at $22,688,329 in the last three months. 1.39% of the stock is currently owned by insiders.

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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