Clare Market Investments LLC Purchases New Holdings in The Travelers Companies, Inc. $TRV

Key Points

• Clare Market Investments LLC opened a new position in Travelers Companies, buying 4,736 shares worth about $1.38 million in the first quarter.
• Several other hedge funds also increased or initiated stakes, and institutional investors now own 82.45% of the stock.
• Travelers continues to show solid fundamentals: it beat quarterly EPS and revenue estimates, raised its dividend to $1.25 per share, and analysts currently have a Hold consensus with a target price of $318.94.

Clare Market Investments LLC acquired a new position in The Travelers Companies, Inc. (NYSE:TRV - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 4,736 shares of the insurance provider's stock, valued at approximately $1,381,000.

A number of other hedge funds have also recently bought and sold shares of the company. HHM Wealth Advisors LLC lifted its stake in shares of Travelers Companies by 145.7% during the first quarter. HHM Wealth Advisors LLC now owns 86 shares of the insurance provider's stock valued at $25,000 after acquiring an additional 51 shares during the period. Kemnay Advisory Services Inc. acquired a new stake in Travelers Companies in the fourth quarter worth about $26,000. Osterweis Capital Management Inc. raised its holdings in Travelers Companies by 1,820.0% during the 2nd quarter. Osterweis Capital Management Inc. now owns 96 shares of the insurance provider's stock worth $26,000 after purchasing an additional 91 shares during the last quarter. Kohmann Bosshard Financial Services LLC bought a new stake in Travelers Companies during the 4th quarter worth about $28,000. Finally, Entrust Financial LLC bought a new stake in Travelers Companies during the 4th quarter worth about $31,000. 82.45% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, Vice Chairman William H. Heyman sold 1,557 shares of the company's stock in a transaction on Tuesday, April 28th. The shares were sold at an average price of $310.64, for a total value of $483,666.48. Following the completion of the sale, the insider owned 259,590 shares in the company, valued at $80,639,037.60. This represents a 0.60% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Avrohom J. Kess sold 6,735 shares of the firm's stock in a transaction on Tuesday, April 28th. The stock was sold at an average price of $308.78, for a total value of $2,079,633.30. Following the sale, the insider directly owned 48,737 shares in the company, valued at $15,049,010.86. The trade was a 12.14% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 37,573 shares of company stock valued at $11,504,146. 1.39% of the stock is owned by company insiders.

Analysts Set New Price Targets

TRV has been the topic of several recent research reports. Barclays lowered shares of Travelers Companies from an "equal weight" rating to an "underweight" rating and reduced their target price for the company from $331.00 to $295.00 in a research note on Friday, June 12th. HSBC increased their price objective on shares of Travelers Companies from $321.00 to $351.00 and gave the company a "hold" rating in a report on Monday. Piper Sandler raised their price objective on shares of Travelers Companies from $329.00 to $340.00 and gave the company an "overweight" rating in a research note on Tuesday, May 26th. Seaport Research Partners set a $322.00 target price on shares of Travelers Companies in a report on Tuesday, May 26th. Finally, BMO Capital Markets upped their target price on shares of Travelers Companies from $297.00 to $314.00 and gave the company an "outperform" rating in a research report on Monday, April 20th. Three equities research analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating, eleven have assigned a Hold rating and three have assigned a Sell rating to the company's stock. According to data from MarketBeat.com, Travelers Companies currently has a consensus rating of "Hold" and a consensus target price of $318.94.

Travelers Companies Price Performance

Travelers Companies stock opened at $345.38 on Tuesday. The company has a current ratio of 0.35, a quick ratio of 0.35 and a debt-to-equity ratio of 0.29. The firm has a market capitalization of $73.44 billion, a P/E ratio of 10.28, a PEG ratio of 3.09 and a beta of 0.46. The business has a 50-day moving average of $306.77 and a 200-day moving average of $298.14. The Travelers Companies, Inc. has a 1 year low of $249.19 and a 1 year high of $343.45.

Travelers Companies (NYSE:TRV - Get Free Report) last announced its quarterly earnings results on Thursday, April 16th. The insurance provider reported $7.71 earnings per share for the quarter, beating analysts' consensus estimates of $6.80 by $0.91. Travelers Companies had a net margin of 15.54% and a return on equity of 24.06%. The business had revenue of $11.92 billion for the quarter, compared to the consensus estimate of $11.11 billion. During the same period last year, the company posted $1.91 EPS. Travelers Companies's revenue for the quarter was down 1.7% on a year-over-year basis. On average, equities analysts anticipate that The Travelers Companies, Inc. will post 28 EPS for the current year.

Travelers Companies Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Wednesday, June 10th were issued a $1.25 dividend. This represents a $5.00 annualized dividend and a yield of 1.4%. This is a boost from Travelers Companies's previous quarterly dividend of $1.10. The ex-dividend date was Wednesday, June 10th. Travelers Companies's dividend payout ratio (DPR) is 14.88%.

Travelers Companies 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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