Freestone Grove Partners LP Purchases Shares of 152,453 The Travelers Companies, Inc. $TRV

Key Points

• Freestone Grove Partners LP acquired 152,453 shares of Travelers Companies in the second quarter, valued at approximately $33.6 million and representing about 0.07% of the insurer.
• Travelers reported a strong quarter, with EPS of $10.04 versus the $5.41 consensus estimate and revenue of $12.15 billion. The stock opened at $371.02, while analysts’ consensus rating remained “Hold” with a $354.26 price target.
• The company declared a quarterly dividend of $1.25 per share, or $5.00 annually, implying a 1.3% yield. Meanwhile, insiders sold 52,667 shares worth approximately $19.6 million during the last quarter.

Freestone Grove Partners LP 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 disclosure with the SEC. The fund purchased 152,453 shares of the insurance provider's stock, valued at approximately $33,614,000. Freestone Grove Partners LP owned about 0.07% of Travelers Companies as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in TRV. Brighton Jones LLC lifted its position in shares of Travelers Companies by 13.4% in 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 last quarter. Revolve Wealth Partners LLC acquired a new position in shares of Travelers Companies during the 4th quarter worth approximately $276,000. WINTON GROUP Ltd bought a new stake in Travelers Companies in the 2nd quarter valued at $382,000. CIBC Asset Management Inc raised its stake in Travelers Companies by 13.9% in the 2nd quarter. CIBC Asset Management Inc now owns 68,537 shares of the insurance provider's stock valued at $18,336,000 after acquiring an additional 8,383 shares during the period. Finally, Treasurer of the State of North Carolina lifted its holdings in Travelers Companies by 2.0% during the 2nd quarter. Treasurer of the State of North Carolina now owns 105,605 shares of the insurance provider's stock valued at $28,254,000 after purchasing an additional 2,117 shares during the last quarter. Institutional investors and hedge funds own 82.45% of the company's stock.

Travelers Companies Stock Up 0.4%

Shares of TRV opened at $371.02 on Thursday. 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 stock has a market capitalization of $77.39 billion, a PE ratio of 9.94, a P/E/G ratio of 3.51 and a beta of 0.45. The firm's 50 day moving average is $356.08 and its 200-day moving average is $319.95. The Travelers Companies, Inc. has a 12 month low of $252.26 and a 12 month high of $398.70.

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

Travelers Companies Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Thursday, September 10th will be given a dividend of $1.25 per share. This represents a $5.00 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date is Thursday, September 10th. Travelers Companies's dividend payout ratio is presently 13.39%.

Analyst Upgrades and Downgrades

Several research firms have weighed in on TRV. Zacks Research raised shares of Travelers Companies from a "hold" rating to a "strong-buy" rating in a report on Wednesday, July 29th. BMO Capital Markets downgraded Travelers Companies from an "outperform" rating to a "market perform" rating and upped their target price for the company from $314.00 to $379.00 in a research report on Tuesday, July 21st. The Goldman Sachs Group lowered Travelers Companies from a "neutral" rating to a "sell" rating and set a $350.00 target price on the stock. in a research note on Monday, July 20th. Seaport Research Partners set a $322.00 price target on Travelers Companies in a report on Tuesday, May 26th. Finally, TD Cowen downgraded Travelers Companies from a "hold" rating to a "sell" rating and set a $297.00 price target for the company. in a research note on Monday, July 13th. Four equities research analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating, thirteen have given a Hold rating and five have given a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $354.26.

Insider Activity at Travelers Companies

In related news, CFO Daniel S. Frey sold 14,037 shares of the company's stock in a transaction dated Tuesday, July 21st. The shares were sold at an average price of $368.24, for a total transaction of $5,168,984.88. Following the completion of the sale, the chief financial officer owned 27,535 shares of the company's stock, valued at $10,139,488.40. This represents a 33.77% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Diane Kurtzman sold 4,164 shares of the stock in a transaction dated Friday, July 24th. The stock was 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 in the company, valued at $2,048,789.58. The trade was a 44.01% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 52,667 shares of company stock worth $19,611,829 in the last quarter. 1.39% of the stock is currently owned by corporate insiders.

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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