Empowered Funds LLC Buys Shares of 38,126 The Travelers Companies, Inc. $TRV

Key Points

• Empowered Funds LLC acquired 38,126 shares of Travelers Companies during the second quarter, valued at approximately $12.6 million. Institutional investors collectively own 82.45% of the insurer’s outstanding stock.
• Travelers reported quarterly EPS of $10.04, substantially above the $5.41 analyst consensus, while revenue reached $12.15 billion versus expectations of $11.26 billion.
• TRV shares opened at $369.85, near the upper end of their 12-month range. Analysts maintain a consensus “Hold” rating with a $354.26 price target, and the company declared a quarterly dividend of $1.25 per share.

Empowered Funds LLC purchased a new position in shares of The Travelers Companies, Inc. (NYSE:TRV - Free Report) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 38,126 shares of the insurance provider's stock, valued at approximately $12,586,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. BlackRock Inc. acquired a new stake in Travelers Companies during the 2nd quarter worth approximately $6,915,909,000. Legal & General Group Plc acquired a new stake in shares of Travelers Companies in the second quarter valued at $799,601,000. Bank of America Corp DE acquired a new stake in shares of Travelers Companies in the second quarter valued at $932,142,000. Norges Bank purchased a new position in Travelers Companies in the fourth quarter valued at $723,339,000. Finally, GQG Partners LLC acquired a new position in Travelers Companies during the 2nd quarter worth $789,024,000. Hedge funds and other institutional investors own 82.45% of the company's stock.

Analyst Upgrades and Downgrades

TRV has been the subject of a number of analyst reports. Morgan Stanley boosted their price objective on Travelers Companies from $290.00 to $330.00 and gave the stock an "underweight" rating in a research report on Tuesday, July 21st. The Goldman Sachs Group downgraded shares of Travelers Companies from a "neutral" rating to a "sell" rating and set a $350.00 price target for the company. in a research note on Monday, July 20th. Cantor Fitzgerald increased their price objective on shares of Travelers Companies from $335.00 to $360.00 and gave the company an "overweight" rating in a research report on Thursday, July 9th. Piper Sandler raised their price objective on shares of Travelers Companies to $340.00 and gave the company an "overweight" rating in a report on Monday, July 13th. Finally, Evercore set a $329.00 target price on shares of Travelers Companies and gave the stock an "in-line" rating in a research note on Friday, July 10th. Four analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating, thirteen have assigned a Hold rating and five have issued a Sell rating to the company's stock. According to data from MarketBeat, Travelers Companies has an average rating of "Hold" and a consensus target price of $354.26.

Travelers Companies Stock Up 0.1%

TRV stock opened at $369.85 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 twelve month low of $252.26 and a twelve month high of $398.70. The company's 50 day moving average is $358.56 and its two-hundred day moving average is $320.77. The stock has a market cap of $77.14 billion, a P/E ratio of 9.90, a PEG ratio of 3.51 and a beta of 0.45.

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

Travelers Companies Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Thursday, September 10th will be issued 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 presently 13.39%.

Insider Buying and Selling at Travelers Companies

In other news, EVP Michael Frederick Klein sold 6,000 shares of the business's stock in a transaction dated Tuesday, July 21st. The stock was sold at an average price of $366.09, for a total value of $2,196,540.00. Following the completion of the sale, the executive vice president directly owned 45,125 shares of the company's stock, valued at approximately $16,519,811.25. The trade was a 11.74% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP David Donnay Rowland sold 5,000 shares of the firm's stock in a transaction that occurred on Wednesday, July 22nd. The stock was sold at an average price of $371.69, for a total value of $1,858,450.00. Following the transaction, the executive vice president owned 10,479 shares in the company, valued at $3,894,939.51. This represents a 32.30% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 52,667 shares of company stock valued at $19,611,829. 1.39% of the stock is owned by insiders.

About Travelers Companies

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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