Biondo Investment Advisors LLC Makes New $13.65 Million Investment in The Travelers Companies, Inc. $TRV

Key Points

• Biondo Investment Advisors acquired 61,901 shares of Travelers Companies valued at approximately $13.65 million, making TRV its 20th-largest holding and about 1.7% of its portfolio. Institutional investors own 82.45% of the stock.
• Travelers reported quarterly EPS of $10.04, well above the $5.41 consensus estimate, while revenue reached $12.15 billion. The company also declared a quarterly dividend of $1.25 per share, representing a 1.4% annual yield.
• Analyst sentiment remains mixed, with the stock carrying a consensus “Hold” rating and a $354.26 price target. Meanwhile, insiders sold 62,667 shares worth $22.69 million over the past 90 days.

Biondo Investment Advisors LLC acquired a new stake in The Travelers Companies, Inc. (NYSE:TRV - Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 61,901 shares of the insurance provider's stock, valued at approximately $13,649,000. Travelers Companies accounts for about 1.7% of Biondo Investment Advisors LLC's investment portfolio, making the stock its 20th largest holding.

Several other hedge funds also recently made changes to their positions in TRV. Berman McAleer LLC lifted its position in shares of 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 acquiring an additional 30 shares during the period. Willner & Heller LLC lifted its position in Travelers Companies by 2.7% during the second quarter. Willner & Heller LLC now owns 1,206 shares of the insurance provider's stock worth $398,000 after purchasing an additional 32 shares during the period. Spinnaker Trust lifted its position in Travelers Companies by 1.7% during the first quarter. Spinnaker Trust now owns 1,938 shares of the insurance provider's stock worth $565,000 after purchasing an additional 33 shares during the period. Cim LLC grew its stake in Travelers Companies by 0.4% during 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 increased its holdings in Travelers Companies by 0.4% in the 1st quarter. Avalon Trust Co now owns 8,784 shares of the insurance provider's stock valued at $2,562,000 after buying an additional 35 shares during the period. 82.45% of the stock is owned by institutional investors.

Travelers Companies Price Performance

Travelers Companies stock opened at $363.83 on Monday. The stock's 50 day moving average is $352.28 and its 200 day moving average is $318.35. The Travelers Companies, Inc. has a one year low of $252.26 and a one year high of $398.70. The firm has a market cap 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.

Travelers Companies (NYSE:TRV - Get Free Report) last released its quarterly earnings results on Friday, July 17th. The insurance provider reported $10.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.41 by $4.63. Travelers Companies had a net margin of 16.95% and a return on equity of 25.41%. The firm had revenue of $12.15 billion during the quarter, compared to analyst estimates of $11.26 billion. During the same quarter last year, the business earned $6.51 EPS. The company's revenue was up .3% compared to the same quarter last year. As a group, research analysts expect that The Travelers Companies, Inc. will post 33.82 EPS for the current year.

Travelers Companies Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders 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 yield of 1.4%. The ex-dividend date is Thursday, September 10th. Travelers Companies's dividend payout ratio (DPR) is presently 13.39%.

Insider Transactions at Travelers Companies

In related news, EVP Michael Frederick Klein sold 10,000 shares of the firm's stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $307.65, for a total transaction of $3,076,500.00. Following the completion of the sale, the executive vice president owned 45,125 shares of the company's stock, valued at $13,882,706.25. This trade represents a 18.14% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Daniel Tei-Hwa Yin sold 7,153 shares of the business's stock in a transaction on Friday, July 24th. The shares were sold at an average price of $387.00, for a total transaction of $2,768,211.00. Following the transaction, the executive vice president owned 68,834 shares in the company, valued at $26,638,758. The trade was a 9.41% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 62,667 shares of company stock worth $22,688,329. Corporate insiders own 1.39% of the company's stock.

Analyst Ratings Changes

A number of research analysts recently issued reports on TRV shares. Morgan Stanley lifted their price objective on shares of Travelers Companies from $290.00 to $330.00 and gave the company an "underweight" rating in a research note on Tuesday, July 21st. Barclays lifted 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. Roth Capital upped their price objective on Travelers Companies from $345.00 to $425.00 and gave the stock a "buy" rating in a research report on Tuesday, July 21st. HSBC lifted their target price on Travelers Companies from $321.00 to $351.00 and gave the company a "hold" rating in a research report on Monday, July 6th. Finally, Zacks Research upgraded shares of Travelers Companies from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, July 29th. Four investment 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 company's stock. According to MarketBeat.com, Travelers Companies currently has an average rating of "Hold" and a consensus price target 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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