Clear Harbor Asset Management LLC Makes New $1.50 Million Investment in The Travelers Companies, Inc. $TRV

Key Points

• Clear Harbor Asset Management initiated a $1.50 million position in Travelers by purchasing 6,795 shares, while institutional investors collectively own 82.45% of the company.
• Travelers reported strong quarterly results, with earnings of $10.04 per share versus the $5.41 estimate and revenue of $12.15 billion versus the $11.26 billion consensus.
• Analysts maintain a consensus “Hold” rating with a $354.26 price target; the company also declared a quarterly dividend of $1.25 per share, representing a 1.4% yield.

Clear Harbor Asset Management LLC bought a new stake in shares of The Travelers Companies, Inc. (NYSE:TRV - Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 6,795 shares of the insurance provider's stock, valued at approximately $1,498,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of TRV. Arbejdsmarkedets Tillaegspension purchased a new stake in shares of Travelers Companies in the 4th quarter worth approximately $24,167,000. Rit Capital Partners PLC purchased a new position in Travelers Companies during the fourth quarter valued at $39,450,000. UBS Group AG boosted its holdings in Travelers Companies by 5.3% in the fourth quarter. UBS Group AG now owns 1,774,756 shares of the insurance provider's stock worth $514,786,000 after acquiring an additional 89,159 shares in the last quarter. Swiss Life Asset Management Ltd boosted its holdings in Travelers Companies by 41.5% in the fourth quarter. Swiss Life Asset Management Ltd now owns 66,016 shares of the insurance provider's stock worth $19,149,000 after acquiring an additional 19,347 shares in the last quarter. Finally, OMERS ADMINISTRATION Corp grew its stake in shares of Travelers Companies by 34.6% in the first quarter. OMERS ADMINISTRATION Corp now owns 13,006 shares of the insurance provider's stock worth $3,794,000 after acquiring an additional 3,342 shares during the last quarter. 82.45% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on TRV shares. Barclays raised their price target on Travelers Companies from $295.00 to $318.00 and gave the company an "underweight" rating in a report on Tuesday, July 21st. TD Cowen downgraded shares of Travelers Companies from a "hold" rating to a "sell" rating and set a $297.00 price objective on the stock. in a research report on Monday, July 13th. Bank of America increased their price objective on shares of Travelers Companies from $283.00 to $307.00 and gave the company an "underperform" rating in a research report on Monday, July 20th. Keefe, Bruyette & Woods reaffirmed a "market perform" rating and issued a $356.00 target price (up from $342.00) on shares of Travelers Companies in a report on Wednesday, July 8th. Finally, Weiss Ratings raised shares of Travelers Companies from a "buy (a-)" rating to a "buy (a)" rating in a report on Thursday. 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 issued a Sell rating to the stock. According to MarketBeat.com, Travelers Companies presently has a consensus rating of "Hold" and a consensus price target of $354.26.

Insider Activity

In related news, EVP Michael Frederick Klein sold 6,000 shares of the firm's stock in a transaction that occurred on Tuesday, July 21st. The shares were sold at an average price of $366.09, for a total value of $2,196,540.00. Following the transaction, the executive vice president owned 45,125 shares of the company's stock, valued at approximately $16,519,811.25. This trade represents a 11.74% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Diane Kurtzman sold 4,164 shares of the business's stock in a transaction that occurred on Friday, July 24th. The shares were sold at an average price of $386.71, for a total transaction of $1,610,260.44. Following the sale, the executive vice president owned 5,298 shares of the company's stock, valued at $2,048,789.58. This trade represents a 44.01% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 62,667 shares of company stock worth $22,688,329. Company insiders own 1.39% of the company's stock.

Travelers Companies Trading Down 0.2%

Shares of TRV stock opened at $363.83 on Friday. 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. The stock has a market capitalization of $75.88 billion, a P/E ratio of 9.74, a P/E/G ratio of 3.46 and a beta of 0.45. The firm's 50 day moving average is $352.28 and its 200 day moving average is $318.12.

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

Travelers Companies Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Thursday, September 10th will be paid a dividend of $1.25 per share. This represents a $5.00 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date is Thursday, September 10th. Travelers Companies's payout ratio is currently 13.39%.

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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