Bank of Nova Scotia Buys Shares of 60,435 The Travelers Companies, Inc. $TRV

Key Points

• Bank of Nova Scotia initiated a 60,435-share position in Travelers Companies worth approximately $19.95 million. Institutional investors collectively own 82.45% of the insurer.
• Travelers significantly beat quarterly earnings expectations, reporting $10.04 EPS versus the $5.41 consensus and revenue of $12.15 billion. Analysts maintain a broadly neutral outlook, with an average price target of $354.26 and a “Hold” consensus.
• The company declared a quarterly dividend of $1.25 per share, equivalent to $5.00 annually and a 1.4% yield. Meanwhile, insiders sold 62,667 shares worth $22.69 million over the past three months.

Bank of Nova Scotia purchased a new stake in shares of The Travelers Companies, Inc. (NYSE:TRV - Free Report) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 60,435 shares of the insurance provider's stock, valued at approximately $19,949,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. HHM Wealth Advisors LLC lifted its holdings in Travelers Companies by 145.7% during the first quarter. HHM Wealth Advisors LLC now owns 86 shares of the insurance provider's stock valued at $25,000 after purchasing an additional 51 shares during the last quarter. Whipplewood Advisors LLC purchased a new position in shares of Travelers Companies in the first quarter worth about $26,000. LifeSteps Financial Inc. bought a new stake in shares of Travelers Companies in the second quarter valued at approximately $26,000. Kilter Group LLC bought a new stake in shares of Travelers Companies in the second quarter valued at approximately $26,000. Finally, Kemnay Advisory Services Inc. purchased a new stake in shares of Travelers Companies during the 4th quarter valued at approximately $26,000. Institutional investors own 82.45% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the stock. Seaport Research Partners set a $322.00 price objective on shares of Travelers Companies in a report on Tuesday, May 26th. Raymond James Financial set a $430.00 target price on shares of Travelers Companies in a report on Monday, July 20th. Morgan Stanley increased their target price on Travelers Companies from $290.00 to $330.00 and gave the stock an "underweight" rating in a research report on Tuesday, July 21st. Mizuho raised their price target on Travelers Companies from $324.00 to $343.00 and gave the stock a "neutral" rating in a report on Friday, July 24th. Finally, Citigroup reiterated a "market perform" rating on shares of Travelers Companies in a research report on Monday, July 20th. 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 given a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and an average target price of $354.26.

Travelers Companies Trading Up 0.1%

Shares of TRV opened at $363.83 on Monday. The firm's 50 day simple moving average is $352.28 and its 200 day simple moving average is $318.35. The company has a market capitalization of $75.89 billion, a P/E ratio of 9.74, a P/E/G 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. The Travelers Companies, Inc. has a 1-year low of $252.26 and a 1-year high of $398.70.

Travelers Companies (NYSE:TRV - Get Free Report) last released its quarterly earnings results on Friday, July 17th. The insurance provider reported $10.04 EPS for the quarter, topping analysts' consensus estimates of $5.41 by $4.63. The business 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 business's quarterly revenue was up .3% compared to the same quarter last year. During the same quarter in the previous year, the company earned $6.51 EPS. Sell-side analysts forecast that The Travelers Companies, Inc. will post 33.82 earnings per share for the current fiscal year.

Travelers Companies Dividend Announcement

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

Insider Buying and Selling

In related news, EVP David Donnay Rowland sold 5,000 shares of the company's stock in a transaction on 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 transaction, the executive vice president directly owned 10,479 shares in the company, valued at approximately $3,894,939.51. The trade was a 32.30% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Daniel Tei-Hwa Yin sold 7,153 shares of the stock in a transaction 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 transaction, the executive vice president directly owned 68,834 shares in the company, valued at approximately $26,638,758. This represents a 9.41% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 62,667 shares of company stock valued at $22,688,329 in the last three months. 1.39% of the stock is owned by corporate 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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