Davis Asset Management L.P. Acquires New Shares in The Travelers Companies, Inc. $TRV

Key Points

• Davis Asset Management acquired 3,653 shares of Travelers Companies in the second quarter, valued at approximately $1.21 million. Institutional investors collectively own 82.45% of the insurer.
• Travelers reported quarterly earnings of $10.04 per share, substantially exceeding the $5.41 consensus estimate, while revenue reached $12.15 billion versus the $11.26 billion forecast.
• Analyst sentiment remains mixed, with the stock carrying a consensus “Hold” rating and a $354.26 price target. Travelers also declared a quarterly dividend of $1.25 per share, equivalent to a 1.4% yield.

Davis Asset Management L.P. acquired a new position in The Travelers Companies, Inc. (NYSE:TRV - Free Report) in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 3,653 shares of the insurance provider's stock, valued at approximately $1,206,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. HHM Wealth Advisors LLC raised its holdings in shares of 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 in the last quarter. Whipplewood Advisors LLC purchased a new stake in shares of Travelers Companies in the 1st quarter worth approximately $26,000. LifeSteps Financial Inc. bought a new position in shares of Travelers Companies during the second quarter valued at approximately $26,000. Kilter Group LLC purchased a new position in Travelers Companies during the second quarter valued at approximately $26,000. Finally, Kemnay Advisory Services Inc. purchased a new position in Travelers Companies during the fourth quarter valued at approximately $26,000. 82.45% of the stock is currently owned by institutional investors.

Insider Activity

In related news, EVP David Donnay Rowland sold 5,000 shares of the business's stock in a transaction on Wednesday, July 22nd. The stock was sold at an average price of $371.69, for a total transaction of $1,858,450.00. Following the transaction, the executive vice president directly owned 10,479 shares in the company, valued at $3,894,939.51. The trade was a 32.30% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Diane Kurtzman sold 4,164 shares of the company's stock in a transaction dated Friday, July 24th. The shares were sold at an average price of $386.71, for a total value of $1,610,260.44. Following the transaction, the executive vice president directly owned 5,298 shares in the company, valued at $2,048,789.58. This represents a 44.01% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 62,667 shares of company stock worth $22,688,329. Company insiders own 1.39% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on TRV shares. Piper Sandler upped their target price on Travelers Companies to $340.00 and gave the stock an "overweight" rating in a report on Monday, July 13th. 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 report on Monday, July 13th. Citigroup reissued a "market perform" rating on shares of Travelers Companies in a research report on Monday, July 20th. JPMorgan Chase & Co. upgraded Travelers Companies from an "underweight" rating to a "neutral" rating and upped their price objective for the stock from $316.00 to $322.00 in a research note on Tuesday, May 26th. Finally, Roth Capital upped their price objective on Travelers Companies from $345.00 to $425.00 and gave the stock a "buy" rating in a research note on Tuesday, July 21st. Four research analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating, thirteen have issued a Hold rating and five have assigned a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $354.26.

Travelers Companies Trading Down 0.2%

NYSE TRV opened at $363.83 on Friday. The company has a quick ratio of 0.33, a current ratio of 0.33 and a debt-to-equity ratio of 0.27. The firm has a market cap of $75.88 billion, a PE ratio of 9.74, a price-to-earnings-growth ratio of 3.46 and a beta of 0.45. The company has a 50 day moving average price of $352.28 and a 200 day moving average price of $318.12. The Travelers Companies, Inc. has a 52 week low of $252.26 and a 52 week high of $398.70.

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 the consensus estimate of $5.41 by $4.63. Travelers Companies had a net margin of 16.95% and a return on equity of 25.41%. The company had revenue of $12.15 billion during the quarter, compared to the consensus estimate of $11.26 billion. During the same period last year, the firm earned $6.51 earnings per share. Travelers Companies's revenue was up .3% compared to the same quarter last year. As a group, sell-side analysts forecast that The Travelers Companies, Inc. will post 33.82 EPS for the current fiscal year.

Travelers Companies Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Thursday, September 10th will be issued a dividend of $1.25 per share. 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

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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