Associated Banc Corp Purchases New Holdings in The Travelers Companies, Inc. $TRV

Key Points

• Associated Banc Corp opened a new Travelers position, buying 2,608 shares worth about $930,000 in the third quarter. Institutional investors and hedge funds collectively own 82.45% of the insurer’s stock.
• Travelers reported quarterly EPS of $9.18, beating the $7.39 consensus, and revenue of $12.41 billion versus estimates of $11.36 billion. Revenue was down 0.5% year over year.
• The company declared a quarterly dividend of $1.25 per share, equivalent to $5.00 annually and a 1.2% yield. Analysts’ consensus rating is “Hold,” with an average price target of $366.37.

Associated Banc Corp acquired a new position in shares of The Travelers Companies, Inc. (NYSE:TRV - Free Report) in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 2,608 shares of the insurance provider's stock, valued at approximately $930,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of TRV. Whipplewood Advisors LLC acquired a new position in Travelers Companies in the first quarter valued at $26,000. LifeSteps Financial Inc. acquired a new position in Travelers Companies in the 2nd quarter valued at $26,000. Kilter Group LLC purchased a new position in Travelers Companies during the second quarter worth about $26,000. Latitude Advisors LLC purchased a new stake in shares of Travelers Companies in the third quarter valued at approximately $28,000. Finally, Delos Wealth Advisors LLC purchased a new stake in shares of Travelers Companies during the 2nd quarter worth $30,000. 82.45% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Travelers Companies news, EVP Jeffrey P. Klenk sold 9,016 shares of the firm's stock in a transaction dated Thursday, October 22nd. The stock was sold at an average price of $405.57, for a total transaction of $3,656,619.12. Following the transaction, the executive vice president directly owned 6,075 shares in the company, valued at $2,463,837.75. This trade represents a 59.74% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP David Rowland sold 5,000 shares of the business's stock in a transaction on Thursday, October 22nd. The stock was sold at an average price of $405.62, for a total transaction of $2,028,100.00. Following the completion of the sale, the executive vice president owned 10,479 shares of the company's stock, valued at $4,250,491.98. The trade was a 32.30% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 180,287 shares of company stock valued at $71,713,050 over the last quarter. 1.39% of the stock is owned by insiders.

Travelers Companies Stock Performance

TRV stock opened at $408.90 on Thursday. The stock's 50 day simple moving average is $376.51 and its 200 day simple moving average is $331.47. The company has a current ratio of 0.33, a quick ratio of 0.33 and a debt-to-equity ratio of 0.34. The Travelers Companies, Inc. has a 12-month low of $268.00 and a 12-month high of $409.31. The firm has a market cap of $83.80 billion, a P/E ratio of 10.72, a P/E/G ratio of 2.73 and a beta of 0.40.

Travelers Companies (NYSE:TRV - Get Free Report) last posted its earnings results on Friday, October 16th. The insurance provider reported $9.18 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $7.39 by $1.79. The firm had revenue of $12.41 billion during the quarter, compared to analyst estimates of $11.36 billion. Travelers Companies had a net margin of 17.03% and a return on equity of 26.19%. Travelers Companies's revenue was down .5% on a year-over-year basis. During the same period in the previous year, the business posted $8.14 EPS. As a group, equities research analysts predict that The Travelers Companies, Inc. will post 36.27 EPS for the current year.

Travelers Companies Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 31st. Investors of record on Thursday, December 10th will be given a $1.25 dividend. This represents a $5.00 annualized dividend and a dividend yield of 1.2%. The ex-dividend date is Thursday, December 10th. Travelers Companies's dividend payout ratio is 13.11%.

Analysts Set New Price Targets

Several research analysts have recently issued reports on TRV shares. JPMorgan Chase & Co. lifted their price target on Travelers Companies from $352.00 to $379.00 and gave the stock a "neutral" rating in a research note on Tuesday, October 20th. Morgan Stanley increased their target price on Travelers Companies from $330.00 to $350.00 and gave the company an "underweight" rating in a report on Friday, October 23rd. The Goldman Sachs Group downgraded Travelers Companies from a "neutral" rating to a "sell" rating and set a $350.00 price target for the company. in a research report on Monday, July 20th. BMO Capital Markets boosted their price target on Travelers Companies from $379.00 to $388.00 and gave the stock a "market perform" rating in a report on Tuesday, October 20th. Finally, Barclays upped their price objective on shares of Travelers Companies from $295.00 to $318.00 and gave the company an "underweight" rating in a research note on Tuesday, July 21st. Three investment analysts have rated the stock with a Strong Buy rating, four have given a Buy rating, thirteen have issued a Hold rating and five have assigned a Sell rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $366.37.

About Travelers Companies

Travelers Companies, Inc is a property and casualty insurance company that provides insurance products and related services to businesses, government entities and individuals. The company offers coverage for property damage, liability, workers' compensation, automobile accidents, cybersecurity risks and other exposures.

Travelers conducts its operations primarily through its Business Insurance, Bond & Specialty Insurance and Personal Insurance segments. Its products include commercial property and casualty policies, surety and fidelity bonds, homeowners insurance, personal automobile insurance and umbrella coverage.

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