Hennessy Advisors Inc. Purchases Shares of 32,200 The Travelers Companies, Inc. $TRV

Key Points

• Hennessy Advisors Inc. acquired 32,200 shares of The Travelers Companies, Inc., valued at approximately $8.61 million, during the second quarter.
• Analysts have set a consensus target price of $284.56 for Travelers Companies, with various ratings including one Strong Buy, seven Buy, eleven Hold, and two Sell.
• The Travelers Companies recently declared a quarterly dividend of $1.10 per share, representing an annualized dividend yield of 1.5%.

Hennessy Advisors Inc. purchased a new stake in The Travelers Companies, Inc. (NYSE:TRV - Free Report) during the second quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 32,200 shares of the insurance provider's stock, valued at approximately $8,615,000.

A number of other hedge funds also recently bought and sold shares of TRV. Brighton Jones LLC increased its holdings in shares of Travelers Companies by 13.4% in the 4th quarter. Brighton Jones LLC now owns 3,277 shares of the insurance provider's stock valued at $789,000 after acquiring an additional 387 shares during the last quarter. Revolve Wealth Partners LLC purchased a new position in shares of Travelers Companies in the 4th quarter valued at about $276,000. RFG Advisory LLC purchased a new position in shares of Travelers Companies in the 1st quarter valued at about $230,000. Thurston Springer Miller Herd & Titak Inc. increased its holdings in shares of Travelers Companies by 37.2% in the 1st quarter. Thurston Springer Miller Herd & Titak Inc. now owns 753 shares of the insurance provider's stock valued at $199,000 after acquiring an additional 204 shares during the last quarter. Finally, Retirement Planning Group LLC increased its holdings in shares of Travelers Companies by 44.8% in the 1st quarter. Retirement Planning Group LLC now owns 1,303 shares of the insurance provider's stock valued at $345,000 after acquiring an additional 403 shares during the last quarter. Institutional investors and hedge funds own 82.45% of the company's stock.

Analysts Set New Price Targets

A number of research firms recently issued reports on TRV. Wells Fargo & Company raised their price target on Travelers Companies from $264.00 to $275.00 and gave the stock an "equal weight" rating in a research note on Friday, July 18th. Wolfe Research began coverage on Travelers Companies in a research note on Monday, September 15th. They set a "peer perform" rating on the stock. Cantor Fitzgerald upgraded Travelers Companies to a "strong-buy" rating in a research note on Wednesday, August 13th. Barclays downgraded Travelers Companies from an "overweight" rating to an "equal weight" rating and dropped their price target for the stock from $280.00 to $274.00 in a research note on Monday, July 7th. Finally, Wall Street Zen downgraded Travelers Companies from a "buy" rating to a "hold" rating in a research note on Saturday, August 9th. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, eleven have assigned a Hold rating and two have assigned a Sell rating to the company's stock. Based on data from MarketBeat, Travelers Companies currently has a consensus rating of "Hold" and a consensus target price of $284.56.

Travelers Companies Stock Up 1.7%

TRV opened at $284.93 on Friday. The business has a 50 day simple moving average of $271.60 and a 200-day simple moving average of $265.45. The stock has a market capitalization of $64.15 billion, a P/E ratio of 12.60, a P/E/G ratio of 3.22 and a beta of 0.51. The Travelers Companies, Inc. has a 12 month low of $224.62 and a 12 month high of $286.17. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.33 and a quick ratio of 0.33.

Travelers Companies (NYSE:TRV - Get Free Report) last issued its quarterly earnings data on Thursday, July 17th. The insurance provider reported $6.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.52 by $2.99. The firm had revenue of $11.54 billion during the quarter, compared to analysts' expectations of $11.02 billion. Travelers Companies had a return on equity of 18.68% and a net margin of 10.97%.Travelers Companies's revenue was up 7.4% on a year-over-year basis. During the same period in the previous year, the firm posted $2.51 earnings per share. On average, equities analysts anticipate that The Travelers Companies, Inc. will post 17.02 earnings per share for the current fiscal year.

Travelers Companies Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Wednesday, September 10th were issued a $1.10 dividend. This represents a $4.40 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date of this dividend was Wednesday, September 10th. Travelers Companies's payout ratio is 19.46%.

Insiders Place Their Bets

In other news, EVP Gregory C. Toczydlowski sold 11,505 shares of the business's stock in a transaction on Monday, July 21st. The stock was sold at an average price of $266.12, for a total value of $3,061,710.60. Following the completion of the transaction, the executive vice president directly owned 18,416 shares of the company's stock, valued at $4,900,865.92. The trade was a 38.45% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Mojgan M. Lefebvre sold 16,820 shares of the business's stock in a transaction on Friday, August 22nd. The stock was sold at an average price of $277.54, for a total value of $4,668,222.80. The disclosure for this sale can be found here. Insiders own 1.46% of the company's stock.

Travelers Companies Profile

The Travelers Companies, Inc, through its subsidiaries, provides a range of commercial and personal property, and casualty insurance products and services to businesses, government units, associations, and individuals in the United States and internationally. The company operates through three segments: Business Insurance, Bond & Specialty Insurance, and Personal Insurance.

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