1,982 Shares in The Travelers Companies, Inc. (NYSE:TRV) Acquired by Brown Wealth Management LLC

Key Points

• Brown Wealth Management LLC acquired 1,982 shares of The Travelers Companies, Inc., valued at approximately $524,000, marking the firm's entry into this investment.
• Travelers Companies declared a quarterly dividend of $1.10 per share, with an annualized yield of 1.69%, to be paid on September 30th.
• Analysts have mixed ratings on Travelers, with a current average rating of "Hold" and a price target of $275.56, while some firms have recently adjusted their ratings and target prices.

Brown Wealth Management LLC bought a new position in The Travelers Companies, Inc. (NYSE:TRV - Free Report) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 1,982 shares of the insurance provider's stock, valued at approximately $524,000.

Several other hedge funds also recently made changes to their positions in the company. Bank of America Corp DE grew its stake in Travelers Companies by 236.9% in the fourth quarter. Bank of America Corp DE now owns 3,507,219 shares of the insurance provider's stock valued at $844,854,000 after purchasing an additional 2,466,098 shares in the last quarter. Norges Bank acquired a new position in shares of Travelers Companies during the 4th quarter worth about $560,918,000. GAMMA Investing LLC increased its stake in Travelers Companies by 31,132.9% during the first quarter. GAMMA Investing LLC now owns 2,203,481 shares of the insurance provider's stock valued at $582,733,000 after acquiring an additional 2,196,426 shares during the period. Balyasny Asset Management L.P. increased its stake in Travelers Companies by 153.8% during the fourth quarter. Balyasny Asset Management L.P. now owns 1,497,339 shares of the insurance provider's stock valued at $360,694,000 after acquiring an additional 907,266 shares during the period. Finally, Northern Trust Corp grew its stake in shares of Travelers Companies by 12.3% in the 4th quarter. Northern Trust Corp now owns 3,329,232 shares of the insurance provider's stock valued at $801,979,000 after purchasing an additional 364,379 shares during the period. Institutional investors and hedge funds own 82.45% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the company. Wells Fargo & Company increased their price target on Travelers Companies from $264.00 to $275.00 and gave the stock an "equal weight" rating in a research report on Friday, July 18th. Wall Street Zen upgraded Travelers Companies from a "hold" rating to a "buy" rating in a report on Friday, July 18th. Jefferies Financial Group raised their price objective on Travelers Companies from $265.00 to $270.00 and gave the company a "hold" rating in a report on Friday, April 11th. Citigroup reaffirmed a "market perform" rating on shares of Travelers Companies in a research report on Monday, July 21st. Finally, Barclays downgraded shares of Travelers Companies from an "overweight" rating to an "equal weight" rating and cut their price objective for the stock from $280.00 to $274.00 in a research report on Monday, July 7th. Two investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $275.56.

Insider Buying and Selling

In related news, CFO Daniel S. Frey sold 20,286 shares of the company's stock in a transaction that occurred on Thursday, May 29th. The shares were sold at an average price of $273.48, for a total transaction of $5,547,815.28. Following the sale, the chief financial officer directly owned 26,932 shares in the company, valued at approximately $7,365,363.36. This represents a 42.96% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Avrohom J. Kess sold 23,434 shares of the stock in a transaction that occurred on Thursday, May 29th. The shares were sold at an average price of $273.93, for a total transaction of $6,419,275.62. Following the completion of the transaction, the insider owned 48,387 shares in the company, valued at $13,254,650.91. This represents a 32.63% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 175,374 shares of company stock valued at $47,929,912 over the last three months. Company insiders own 1.46% of the company's stock.

Travelers Companies Stock Up 1.9%

Shares of NYSE:TRV traded up $4.87 during trading on Tuesday, reaching $259.78. The stock had a trading volume of 1,415,439 shares, compared to its average volume of 1,352,916. The Travelers Companies, Inc. has a one year low of $206.43 and a one year high of $277.83. The company has a market capitalization of $58.48 billion, a P/E ratio of 11.49, a PEG ratio of 3.09 and a beta of 0.51. 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 50-day simple moving average is $265.06 and its 200 day simple moving average is $257.36.

Travelers Companies (NYSE:TRV - Get Free Report) last announced its quarterly earnings data on Thursday, July 17th. The insurance provider reported $6.51 EPS for the quarter, beating the consensus estimate of $3.52 by $2.99. The business had revenue of $11.54 billion during the quarter, compared to analysts' expectations of $11.02 billion. Travelers Companies had a net margin of 10.97% and a return on equity of 18.68%. The business's quarterly revenue was up 7.4% compared to the same quarter last year. During the same period in the previous year, the business posted $2.51 EPS. As a group, research analysts expect that The Travelers Companies, Inc. will post 17.02 EPS for the current fiscal year.

Travelers Companies Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Wednesday, September 10th will be given a dividend of $1.10 per share. The ex-dividend date of this dividend is Wednesday, September 10th. This represents a $4.40 annualized dividend and a dividend yield of 1.69%. Travelers Companies's payout ratio is 19.46%.

About Travelers Companies

The Travelers Companies, Inc, through its subsidiaries, provides a range of commercial and personal property, and casualty insurance products and services to businesses, government units, associations, and individuals in the United States and internationally. The company operates through three segments: Business Insurance, Bond & Specialty Insurance, and Personal Insurance.