Kimelman & Baird LLC Makes New $2.81 Million Investment in The Travelers Companies, Inc. $TRV

Key Points

• Kimelman & Baird LLC purchased 8,514 Travelers shares during the second quarter, valued at approximately $2.81 million. Institutional investors collectively own 82.45% of the insurer.
• Travelers reported quarterly earnings of $10.04 per share, beating estimates of $5.41, while revenue reached $12.15 billion versus expectations of $11.26 billion. The company also declared a quarterly dividend of $1.25 per share, representing a 1.4% annual yield.
• Insiders sold 52,667 shares worth about $19.6 million over the past 90 days. Analysts maintain a consensus “Hold” rating, with an average price target of $354.26 compared with the stock’s reported price of $369.85.

Kimelman & Baird LLC bought a new stake in shares of The Travelers Companies, Inc. (NYSE:TRV - Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 8,514 shares of the insurance provider's stock, valued at approximately $2,811,000.

Other institutional investors also recently added to or reduced their stakes in the company. HHM Wealth Advisors LLC lifted its stake in Travelers Companies by 145.7% in the first quarter. HHM Wealth Advisors LLC now owns 86 shares of the insurance provider's stock worth $25,000 after acquiring an additional 51 shares during the period. Osterweis Capital Management Inc. increased its position in shares of Travelers Companies by 1,820.0% during the second quarter. Osterweis Capital Management Inc. now owns 96 shares of the insurance provider's stock worth $26,000 after purchasing an additional 91 shares in the last quarter. Kemnay Advisory Services Inc. purchased a new stake in Travelers Companies in the fourth quarter valued at about $26,000. Whipplewood Advisors LLC acquired a new stake in Travelers Companies in the 1st quarter worth approximately $26,000. Finally, LifeSteps Financial Inc. acquired a new stake in shares of Travelers Companies during the second quarter worth $26,000. Hedge funds and other institutional investors own 82.45% of the company's stock.

Insider Transactions at Travelers Companies

In other news, EVP Mojgan M. Lefebvre sold 16,313 shares of the firm's stock in a transaction on Tuesday, July 21st. The stock was sold at an average price of $368.38, for a total value of $6,009,382.94. Following the completion of the transaction, the executive vice president owned 9,213 shares in the company, valued at $3,393,884.94. This trade represents a 63.91% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Michael Frederick Klein sold 6,000 shares of Travelers Companies stock in a transaction dated Tuesday, July 21st. The stock was sold at an average price of $366.09, for a total transaction of $2,196,540.00. Following the transaction, the executive vice president 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 disclosure for this sale is available in the SEC filing. Insiders sold a total of 52,667 shares of company stock worth $19,611,829 over the last ninety days. 1.39% of the stock is currently owned by corporate insiders.

Travelers Companies Price Performance

Travelers Companies stock opened at $369.85 on Friday. The company has a fifty day simple moving average of $358.56 and a 200-day simple moving average of $320.77. The stock has a market cap of $77.14 billion, a P/E ratio of 9.90, a price-to-earnings-growth ratio of 3.51 and a beta of 0.45. The Travelers Companies, Inc. has a 12-month low of $252.26 and a 12-month high of $398.70. The company has a current ratio of 0.33, a quick ratio of 0.33 and a debt-to-equity ratio of 0.27.

Travelers Companies (NYSE:TRV - Get Free Report) last announced its quarterly earnings results 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 firm 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%. Travelers Companies's quarterly revenue was up .3% compared to the same quarter last year. During the same period in the previous year, the company earned $6.51 earnings per share. Equities analysts expect that The Travelers Companies, Inc. will post 33.82 EPS for the current fiscal year.

Travelers Companies Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Thursday, September 10th will be paid a dividend of $1.25 per share. The ex-dividend date of this dividend is Thursday, September 10th. This represents a $5.00 dividend on an annualized basis and a dividend yield of 1.4%. Travelers Companies's dividend payout ratio is 13.39%.

Analyst Ratings Changes

Several brokerages recently weighed in on TRV. Bank of America increased their price target on shares of Travelers Companies from $283.00 to $307.00 and gave the stock an "underperform" rating in a report on Monday, July 20th. Cantor Fitzgerald lifted their price target on shares of Travelers Companies from $335.00 to $360.00 and gave the company an "overweight" rating in a research note on Thursday, July 9th. TD Cowen lowered Travelers Companies from a "hold" rating to a "sell" rating and set a $297.00 price objective for the company. in a research note on Monday, July 13th. BMO Capital Markets cut shares of Travelers Companies from an "outperform" rating to a "market perform" rating and increased their target price for the company from $314.00 to $379.00 in a research report on Tuesday, July 21st. Finally, Keefe, Bruyette & Woods reiterated a "market perform" rating and set a $356.00 price objective (up from $342.00) on shares of Travelers Companies in a research report on Wednesday, July 8th. Four analysts have rated the stock with a Strong Buy rating, four have given a Buy rating, thirteen have issued a Hold rating and five have given a Sell rating to the company. Based on data from MarketBeat.com, Travelers Companies currently has a consensus rating of "Hold" and a consensus price target of $354.26.

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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