Daiichi Life Insurance Co. Ltd. purchased a new stake in shares of The Travelers Companies, Inc. (NYSE:TRV - Free Report) during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 23,930 shares of the insurance provider's stock, valued at approximately $5,276,000.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Brighton Jones LLC lifted its position in Travelers Companies by 13.4% during the fourth quarter. Brighton Jones LLC now owns 3,277 shares of the insurance provider's stock valued at $789,000 after buying an additional 387 shares during the period. Revolve Wealth Partners LLC purchased a new stake in shares of Travelers Companies in the 4th quarter worth about $276,000. WINTON GROUP Ltd purchased a new stake in shares of Travelers Companies in the 2nd quarter worth about $382,000. CIBC Asset Management Inc increased its stake in shares of Travelers Companies by 13.9% in the 2nd quarter. CIBC Asset Management Inc now owns 68,537 shares of the insurance provider's stock worth $18,336,000 after acquiring an additional 8,383 shares in the last quarter. Finally, Treasurer of the State of North Carolina increased its stake in shares of Travelers Companies by 2.0% in the 2nd quarter. Treasurer of the State of North Carolina now owns 105,605 shares of the insurance provider's stock worth $28,254,000 after acquiring an additional 2,117 shares in the last quarter. 82.45% of the stock is owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
Several equities research analysts recently commented on the stock. Seaport Research Partners set a $322.00 price objective on shares of Travelers Companies in a research note on Tuesday, May 26th. Roth Capital raised their target price on shares of Travelers Companies from $345.00 to $425.00 and gave the company a "buy" rating in a research note on Tuesday, July 21st. Weiss Ratings upgraded shares of Travelers Companies from a "buy (a-)" rating to a "buy (a)" rating in a report on Thursday. Evercore set a $329.00 price target on Travelers Companies and gave the stock an "in-line" rating in a research report on Friday, July 10th. Finally, TD Cowen downgraded Travelers Companies from a "hold" rating to a "sell" rating and set a $297.00 price target on the stock. in a research note on Monday, July 13th. Four 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 assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $354.26.
Read Our Latest Stock Report on Travelers Companies
Travelers Companies Stock Performance
Shares of TRV stock opened at $363.83 on Friday. The Travelers Companies, Inc. has a one year low of $252.26 and a one year high of $398.70. The company's 50-day moving average is $352.28 and its 200 day moving average is $318.12. The company has a market capitalization of $75.88 billion, a price-to-earnings ratio of 9.74, a price-to-earnings-growth ratio of 3.46 and a beta of 0.45. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.33 and a current ratio of 0.33.
Travelers Companies (NYSE:TRV - Get Free Report) last released its quarterly earnings data 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%. Travelers Companies's revenue was up .3% compared to the same quarter last year. During the same period last year, the business earned $6.51 EPS. Sell-side analysts expect that The Travelers Companies, Inc. will post 33.82 EPS for the current fiscal year.
Travelers Companies Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Thursday, September 10th will be given a dividend of $1.25 per share. The ex-dividend date of this dividend is Thursday, September 10th. This represents a $5.00 annualized dividend and a dividend yield of 1.4%. Travelers Companies's dividend payout ratio (DPR) is 13.39%.
Insider Activity at Travelers Companies
In related news, EVP Michael Frederick Klein sold 6,000 shares of the business'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 completion of the transaction, the executive vice president directly owned 45,125 shares in the company, valued at $16,519,811.25. The trade was a 11.74% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Daniel S. Frey sold 14,037 shares of the company's stock in a transaction that occurred on Tuesday, July 21st. The shares were sold at an average price of $368.24, for a total value of $5,168,984.88. Following the completion of the transaction, the chief financial officer directly owned 27,535 shares in the company, valued at $10,139,488.40. This trade represents a 33.77% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 62,667 shares of company stock valued at $22,688,329 over the last ninety days. Corporate insiders own 1.39% of the company's stock.
Travelers Companies Profile
(
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.
Further Reading
Want to see what other hedge funds are holding TRV? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for The Travelers Companies, Inc. (NYSE:TRV - Free Report).
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