BlackRock Inc. bought a new stake in The Travelers Companies, Inc. (NYSE:TRV - Free Report) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 20,949,680 shares of the insurance provider's stock, valued at approximately $6,915,909,000. BlackRock Inc. owned approximately 10.04% of Travelers Companies at the end of the most recent reporting period.
Other institutional investors have also added to or reduced their stakes in the company. HHM Wealth Advisors LLC grew its position in Travelers Companies by 145.7% in the 1st 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 period. Whipplewood Advisors LLC bought a new position in shares of Travelers Companies in the first quarter valued at $26,000. LifeSteps Financial Inc. acquired a new position in shares of Travelers Companies during the second quarter valued at about $26,000. Kemnay Advisory Services Inc. bought a new stake in shares of Travelers Companies during the fourth quarter worth about $26,000. Finally, Osterweis Capital Management Inc. raised its holdings in shares of Travelers Companies by 1,820.0% in the 2nd quarter. Osterweis Capital Management Inc. now owns 96 shares of the insurance provider's stock worth $26,000 after acquiring an additional 91 shares during the last quarter. 82.45% of the stock is owned by institutional investors and hedge funds.
Insider Activity at Travelers Companies
In other Travelers Companies news, EVP Daniel Tei-Hwa Yin sold 7,153 shares of the stock in a transaction on Friday, July 24th. The stock was sold at an average price of $387.00, for a total transaction of $2,768,211.00. Following the sale, the executive vice president owned 68,834 shares of the company's stock, valued at approximately $26,638,758. This trade represents a 9.41% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Daniel S. Frey sold 14,037 shares of the firm's stock in a transaction dated Tuesday, July 21st. The shares were sold at an average price of $368.24, for a total transaction of $5,168,984.88. Following the completion of the sale, the chief financial officer owned 27,535 shares in the company, valued at $10,139,488.40. This represents a 33.77% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 62,667 shares of company stock worth $22,688,329 over the last quarter. Corporate insiders own 1.39% of the company's stock.
Analysts Set New Price Targets
Several equities research analysts have recently issued reports on the stock. Truist Financial raised their price target on shares of Travelers Companies from $395.00 to $425.00 and gave the stock a "buy" rating in a research note on Monday, July 20th. Bank of America increased their price objective on Travelers Companies from $283.00 to $307.00 and gave the company an "underperform" rating in a report on Monday, July 20th. HSBC raised their target price on Travelers Companies from $321.00 to $351.00 and gave the stock a "hold" rating in a research report on Monday, July 6th. Evercore set a $329.00 target price on Travelers Companies and gave the company an "in-line" rating in a research note on Friday, July 10th. Finally, Weiss Ratings reaffirmed a "buy (a-)" rating on shares of Travelers Companies in a research report on Wednesday, August 5th. Four equities research 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 issued a Sell rating to the company's stock. According to MarketBeat, Travelers Companies currently has a consensus rating of "Hold" and an average price target of $354.26.
Read Our Latest Stock Analysis on TRV
Travelers Companies Stock Performance
Shares of TRV stock opened at $364.50 on Tuesday. The company's fifty day moving average price is $347.35 and its 200-day moving average price is $316.08. The stock has a market cap of $76.03 billion, a PE ratio of 9.76, a price-to-earnings-growth ratio of 3.52 and a beta of 0.45. 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 Travelers Companies, Inc. has a 12 month low of $252.26 and a 12 month high of $398.70.
Travelers Companies (NYSE:TRV - Get Free Report) last released its 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 return on equity of 25.41% and a net margin of 16.95%.The firm had revenue of $12.15 billion during the quarter, compared to analysts' expectations of $11.26 billion. During the same quarter last year, the business posted $6.51 earnings per share. The firm's revenue was up .3% on a year-over-year basis. On average, equities analysts expect that The Travelers Companies, Inc. will post 33.82 EPS for the current fiscal year.
Travelers Companies Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Thursday, September 10th will be issued a $1.25 dividend. This represents a $5.00 annualized dividend and a dividend yield of 1.4%. The ex-dividend date is Thursday, September 10th. Travelers Companies's dividend payout ratio is currently 13.39%.
Travelers Companies Company Profile
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Free Report)
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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