Bank of Nova Scotia Purchases New Stake in The Travelers Companies, Inc. $TRV

Key Points

• Bank of Nova Scotia acquired 98,755 shares of Travelers Companies during the second quarter, valued at approximately $21.8 million. Institutional investors collectively own 82.45% of TRV’s outstanding stock.
• Travelers reported quarterly EPS of $10.04, substantially exceeding the $5.41 analyst consensus, while revenue reached $12.15 billion versus expectations of $11.26 billion.
• The company declared a quarterly dividend of $1.25 per share, equivalent to an annualized $5.00 payout and a 1.4% yield. Analysts maintain a consensus “Hold” rating with an average price target of $354.26.

Bank of Nova Scotia acquired a new position 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 & Exchange Commission. The institutional investor acquired 98,755 shares of the insurance provider's stock, valued at approximately $21,775,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of TRV. Kirtland Hills Capital Management LLC purchased a new position in shares of Travelers Companies in the 2nd quarter valued at about $2,006,000. Vista Investment Management purchased a new stake in Travelers Companies during the second quarter worth about $2,595,000. Hudson Portfolio Management LLC purchased a new stake in Travelers Companies during the second quarter worth about $531,000. Compass Financial Management LLC acquired a new position in Travelers Companies during the second quarter worth about $127,000. Finally, Elevation Point Wealth Partners LLC acquired a new position in Travelers Companies during the second quarter worth about $1,848,000. Institutional investors and hedge funds own 82.45% of the company's stock.

Travelers Companies Trading Up 0.1%

Shares of TRV stock 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 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. The firm has a market cap of $75.89 billion, a P/E ratio of 9.74, 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 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $5.41 by $4.63. The firm had revenue of $12.15 billion during the quarter, compared to the consensus estimate of $11.26 billion. Travelers Companies had a return on equity of 25.41% and a net margin of 16.95%.The firm's quarterly revenue was up .3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $6.51 earnings per share. As a group, equities analysts forecast that The Travelers Companies, Inc. will post 33.82 EPS for the current year.

Travelers Companies Dividend Announcement

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

Insider Activity at Travelers Companies

In related news, CFO Daniel S. Frey sold 14,037 shares of the stock in a transaction on Tuesday, July 21st. The stock was sold at an average price of $368.24, for a total value of $5,168,984.88. Following the completion of the sale, the chief financial officer directly owned 27,535 shares in the company, valued at approximately $10,139,488.40. This represents a 33.77% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Daniel Tei-Hwa Yin sold 7,153 shares of the firm's stock in a transaction dated 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 $26,638,758. This trade represents a 9.41% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 62,667 shares of company stock valued at $22,688,329 over the last quarter. Company insiders own 1.39% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the company. Deutsche Bank Aktiengesellschaft reaffirmed a "hold" rating on shares of Travelers Companies in a research note on Tuesday, July 21st. Seaport Research Partners set a $322.00 target price on Travelers Companies in a research report on Tuesday, May 26th. Keefe, Bruyette & Woods reissued a "market perform" rating and issued a $356.00 target price (up from $342.00) on shares of Travelers Companies in a report on Wednesday, July 8th. Bank of America raised their price target on Travelers Companies from $283.00 to $307.00 and gave the company an "underperform" rating in a research report on Monday, July 20th. Finally, BMO Capital Markets downgraded Travelers Companies from an "outperform" rating to a "market perform" rating and lifted their price target for the stock from $314.00 to $379.00 in a research note on Tuesday, July 21st. Four equities research 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 given a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of "Hold" and an average target price of $354.26.

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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