Barden Capital Management Inc. Takes Position in The Travelers Companies, Inc. $TRV

Key Points

• Barden Capital Management initiated a position in Travelers, buying 3,573 shares worth approximately $1.18 million. The stock now represents 1.1% of the fund’s portfolio.
• Travelers reported strong quarterly results, with earnings per share of $10.04 versus the $5.41 consensus estimate and revenue of $12.15 billion. The company also declared a quarterly dividend of $1.25 per share, implying a 1.3% annual yield.
• Analysts remain mixed, with a consensus rating of “Hold” and an average price target of $354.26, below the reported share price of $370.49. Institutional investors own 82.45% of the stock, while insiders have recently sold shares.

Barden Capital Management Inc. bought a new position in The Travelers Companies, Inc. (NYSE:TRV - Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 3,573 shares of the insurance provider's stock, valued at approximately $1,180,000. Travelers Companies makes up 1.1% of Barden Capital Management Inc.'s portfolio, making the stock its 19th biggest holding.

A number of other large investors have also bought and sold shares of TRV. Vanguard Group Inc. lifted its stake in Travelers Companies by 0.5% in the fourth quarter. Vanguard Group Inc. now owns 22,109,933 shares of the insurance provider's stock valued at $6,413,207,000 after buying an additional 110,311 shares during the period. State Street Corp raised its holdings in Travelers Companies by 3.1% in the fourth quarter. State Street Corp now owns 16,000,457 shares of the insurance provider's stock worth $4,641,093,000 after purchasing an additional 486,861 shares during the period. Morgan Stanley raised its holdings in Travelers Companies by 2.3% in the fourth quarter. Morgan Stanley now owns 3,793,750 shares of the insurance provider's stock worth $1,100,416,000 after purchasing an additional 85,298 shares during the period. Dimensional Fund Advisors LP boosted its position in shares of Travelers Companies by 3.7% during the first quarter. Dimensional Fund Advisors LP now owns 3,484,676 shares of the insurance provider's stock worth $1,016,433,000 after purchasing an additional 123,564 shares in the last quarter. Finally, Norges Bank bought a new position in shares of Travelers Companies during the fourth quarter worth $723,339,000. 82.45% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the company. Mizuho lifted their target price on Travelers Companies from $324.00 to $343.00 and gave the stock a "neutral" rating in a report on Friday, July 24th. Seaport Research Partners set a $322.00 price target on Travelers Companies in a report on Tuesday, May 26th. Raymond James Financial set a $430.00 price objective on Travelers Companies in a research report on Monday, July 20th. Barclays increased their target price on Travelers Companies from $295.00 to $318.00 and gave the stock an "underweight" rating in a research note on Tuesday, July 21st. Finally, Roth Capital lifted their price target on shares of Travelers Companies from $345.00 to $425.00 and gave the company a "buy" rating in a research note on Tuesday, July 21st. Four analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating, thirteen have given a Hold rating and five have given a Sell rating to the stock. According to data from MarketBeat, Travelers Companies has an average rating of "Hold" and a consensus price target of $354.26.

Travelers Companies Stock Performance

NYSE TRV opened at $370.49 on Monday. The company has a current ratio of 0.33, a quick ratio of 0.33 and a debt-to-equity ratio of 0.27. The firm's fifty day moving average price is $345.99 and its two-hundred day moving average price is $315.49. 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 $77.27 billion, a P/E ratio of 9.92, a price-to-earnings-growth ratio of 3.52 and a beta of 0.45.

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 analysts' consensus estimates of $5.41 by $4.63. The firm had revenue of $12.15 billion for 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 business's 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, research analysts anticipate that The Travelers Companies, Inc. will post 33.82 EPS for the current year.

Travelers Companies Dividend Announcement

The company also recently announced 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. The ex-dividend date of this dividend is Thursday, September 10th. This represents a $5.00 dividend on an annualized basis and a dividend yield of 1.3%. Travelers Companies's dividend payout ratio (DPR) is currently 13.39%.

Insider Buying and Selling

In other news, EVP Diane Kurtzman sold 4,164 shares of the company's stock in a transaction on Friday, July 24th. The stock was sold at an average price of $386.71, for a total transaction of $1,610,260.44. Following the completion of the sale, the executive vice president directly owned 5,298 shares in the company, valued at approximately $2,048,789.58. This represents a 44.01% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP David Donnay Rowland sold 5,000 shares of the company's stock in a transaction dated Wednesday, July 22nd. The stock was sold at an average price of $371.69, for a total transaction of $1,858,450.00. Following the sale, the executive vice president directly owned 10,479 shares of the company's stock, valued at $3,894,939.51. This represents a 32.30% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 62,667 shares of company stock valued at $22,688,329 in the last 90 days. 1.39% of the stock is currently owned by corporate insiders.

About Travelers Companies

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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