Lombard Odier Asset Management Switzerland SA Decreases Position in The Travelers Companies, Inc. $TRV

Key Points

• Lombard Odier Asset Management Switzerland SA cut its Travelers position by 30.5% in the first quarter, selling 4,960 shares and retaining 11,321 shares valued at approximately $3.3 million. Institutional investors collectively own 82.45% of the company.
• Travelers reported quarterly EPS of $10.04, well above the $5.41 consensus estimate, on revenue of $12.15 billion. The company also declared a quarterly dividend of $1.25 per share, equivalent to a 1.3% annualized yield.
• Analysts remain divided, with a consensus “Hold” rating and average price target of $354.26, below the stock’s $387.42 trading price. Shares are near their 52-week high following a strong rally.

Lombard Odier Asset Management Switzerland SA lessened its position in The Travelers Companies, Inc. (NYSE:TRV - Free Report) by 30.5% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 11,321 shares of the insurance provider's stock after selling 4,960 shares during the period. Lombard Odier Asset Management Switzerland SA's holdings in Travelers Companies were worth $3,302,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in TRV. Brighton Jones LLC raised its stake 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 worth $789,000 after purchasing an additional 387 shares during the last quarter. Revolve Wealth Partners LLC bought a new position in shares of Travelers Companies during the fourth quarter valued at $276,000. WINTON GROUP Ltd purchased a new stake in shares of Travelers Companies during the second quarter valued at $382,000. CIBC Asset Management Inc increased its holdings 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 worth $18,336,000 after buying an additional 8,383 shares in the last quarter. Finally, Treasurer of the State of North Carolina increased its holdings in Travelers Companies by 2.0% in the 2nd quarter. Treasurer of the State of North Carolina now owns 105,605 shares of the insurance provider's stock worth $28,254,000 after buying an additional 2,117 shares in the last quarter. Hedge funds and other institutional investors own 82.45% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on TRV. Citigroup restated a "market perform" rating on shares of Travelers Companies in a research note on Monday, July 20th. Cantor Fitzgerald lifted their price target on shares of Travelers Companies from $335.00 to $360.00 and gave the stock an "overweight" rating in a research note on Thursday, July 9th. Mizuho boosted their price objective on shares of Travelers Companies from $324.00 to $343.00 and gave the company a "neutral" rating in a report on Friday. Wells Fargo & Company increased their price objective on shares of Travelers Companies from $295.00 to $334.00 and gave the company an "equal weight" rating in a research report on Thursday, July 9th. Finally, Piper Sandler raised their target price on shares of Travelers Companies to $340.00 and gave the stock an "overweight" rating in a report on Monday, July 13th. Three investment analysts have rated the stock with a Strong Buy rating, four have given a Buy rating, fourteen have issued a Hold rating and five have given a Sell rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $354.26.

Travelers Companies Trading Up 0.0%

Shares of NYSE:TRV opened at $387.42 on Monday. The stock has a market capitalization of $80.80 billion, a price-to-earnings ratio of 10.38, a PEG ratio of 3.83 and a beta of 0.46. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.33 and a current ratio of 0.33. The stock's 50-day simple moving average is $322.06 and its two-hundred day simple moving average is $304.59. The Travelers Companies, Inc. has a 52-week low of $252.26 and a 52-week high of $389.11.

Travelers Companies (NYSE:TRV - Get Free Report) last released its quarterly earnings results on Friday, July 17th. The insurance provider reported $10.04 EPS 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 firm had revenue of $12.15 billion during the quarter, compared to analyst estimates of $11.26 billion. During the same quarter in the prior year, the firm earned $6.51 EPS. The business's revenue for the quarter was up .3% compared to the same quarter last year. Analysts expect that The Travelers Companies, Inc. will post 32.49 EPS for the current year.

Travelers Companies Announces Dividend

The firm also recently announced 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. This represents a $5.00 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date of this dividend is Thursday, September 10th. Travelers Companies's dividend payout ratio is currently 13.39%.

Key Travelers Companies News

Here are the key news stories impacting Travelers Companies this week:

• Positive Sentiment: Analyst coverage remained constructive, with Morgan Stanley and other firms highlighting potential upside, while a recent Zacks note said Travelers’ shares hit a 52-week high and questioned whether the run can continue. Morgan Stanley Forecasts Strong Price Appreciation for Travelers Companies NYSE: TRV Stock The Travelers Companies, Inc. (TRV) Hit a 52 Week High, Can the Run Continue?
• Positive Sentiment: AM Best assigned an “a+” issue credit rating with a stable outlook to Travelers’ new $750 million senior unsecured notes, signaling confidence in the company’s credit quality and access to capital. AM Best Assigns Issue Credit Rating to The Travelers Companies, Inc. New Senior Unsecured Notes
• Positive Sentiment: Travelers priced $750 million of 4.95% senior notes due 2031, which adds funding for general corporate purposes and appears manageable given the company’s strong balance sheet. Travelers Companies Prices $750 Million Senior Notes Offering
• Neutral Sentiment: Mizuho raised its price target to $343 from $324 but kept a neutral rating, suggesting the stock may have already moved ahead of near-term fundamentals. Mizuho price target update
• Negative Sentiment: Reports that several top Travelers executives sold company stock could weigh on sentiment, even if the transactions were routine. Top Travelers Executives Quietly Unload Millions in Company Stock
• Negative Sentiment: Deutsche Bank and UBS both reiterated hold-type views, reinforcing that some analysts see limited upside after the recent rally. Deutsche Bank Sticks to Its Hold Rating for Travelers Companies (TRV) UBS Releases a Hold Rating on Travelers Companies (TRV)

Insiders Place Their Bets

In related news, EVP Michael Frederick Klein sold 10,000 shares of the business's stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $307.65, for a total transaction of $3,076,500.00. Following the completion of the transaction, the executive vice president directly owned 45,125 shares in the company, valued at approximately $13,882,706.25. The trade was a 18.14% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Avrohom J. Kess sold 6,735 shares of the firm's stock in a transaction that occurred on Tuesday, April 28th. The stock was sold at an average price of $308.78, for a total transaction of $2,079,633.30. Following the sale, the insider owned 48,737 shares in the company, valued at approximately $15,049,010.86. The trade was a 12.14% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 18,292 shares of company stock worth $5,639,800. Company insiders own 1.39% of the company's stock.

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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