Marble Wealth LLC Invests $1.02 Million in The Travelers Companies, Inc. $TRV

Key Points

• Marble Wealth LLC opened a new position in Travelers Companies, buying 3,509 shares valued at about $1.02 million in the fourth quarter.
• Several insiders sold shares recently, including EVP Michael Frederick Klein and EVP Jeffrey P. Klenk, with insiders selling 37,573 shares worth $11.5 million over the last 90 days.
• Travelers reported better-than-expected quarterly earnings of $7.71 per share and raised its quarterly dividend to $1.25 per share, while analysts currently have a consensus rating of Hold.

Marble Wealth LLC purchased a new position in shares of The Travelers Companies, Inc. (NYSE:TRV - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 3,509 shares of the insurance provider's stock, valued at approximately $1,018,000.

Other hedge funds also recently modified their holdings of the company. Osterweis Capital Management Inc. raised 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 during the period. Kohmann Bosshard Financial Services LLC bought a new position in shares of Travelers Companies during the fourth quarter worth about $28,000. Entrust Financial LLC acquired a new stake in Travelers Companies in the 4th quarter valued at approximately $31,000. Navalign LLC acquired a new stake in Travelers Companies in the 4th quarter valued at approximately $35,000. Finally, eCIO Inc. acquired a new stake in Travelers Companies in the 4th quarter valued at approximately $37,000. Institutional investors and hedge funds own 82.45% of the company's stock.

Insider Buying and Selling

In other news, EVP Michael Frederick Klein sold 10,000 shares of the firm'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 value of $3,076,500.00. Following the completion of the sale, the executive vice president directly owned 45,125 shares of the company's stock, valued at $13,882,706.25. This trade represents a 18.14% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, EVP Jeffrey P. Klenk sold 6,414 shares of the firm's stock in a transaction that occurred on Monday, April 20th. The shares were sold at an average price of $305.06, for a total value of $1,956,654.84. Following the completion of the sale, the executive vice president directly owned 6,075 shares of the company's stock, valued at approximately $1,853,239.50. The trade was a 51.36% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 37,573 shares of company stock valued at $11,504,146. Insiders own 1.39% of the company's stock.

Analyst Ratings Changes

TRV has been the topic of a number of recent research reports. JPMorgan Chase & Co. raised Travelers Companies from an "underweight" rating to a "neutral" rating and lifted their target price for the company from $316.00 to $322.00 in a research report on Tuesday, May 26th. Keefe, Bruyette & Woods lifted their target price on Travelers Companies from $340.00 to $342.00 and gave the company an "outperform" rating in a research report on Monday, April 20th. BMO Capital Markets lifted their target price on Travelers Companies from $297.00 to $314.00 and gave the company an "outperform" rating in a research report on Monday, April 20th. Piper Sandler lifted their target price on Travelers Companies from $329.00 to $340.00 and gave the company an "overweight" rating in a research report on Tuesday, May 26th. Finally, Barclays lifted their target price on Travelers Companies from $312.00 to $331.00 and gave the company an "equal weight" rating in a research report on Wednesday, April 8th. Two analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating, eleven have issued a Hold rating and two have issued a Sell rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $311.47.

Travelers Companies Stock Up 1.2%

TRV stock opened at $292.43 on Wednesday. The company has a quick ratio of 0.35, a current ratio of 0.35 and a debt-to-equity ratio of 0.29. The business has a 50 day moving average price of $298.97 and a two-hundred day moving average price of $293.82. The company has a market cap of $62.19 billion, a price-to-earnings ratio of 8.70, a P/E/G ratio of 2.61 and a beta of 0.48. The Travelers Companies, Inc. has a twelve month low of $249.19 and a twelve month high of $313.12.

Travelers Companies (NYSE:TRV - Get Free Report) last posted its quarterly earnings results on Thursday, April 16th. The insurance provider reported $7.71 earnings per share for the quarter, beating analysts' consensus estimates of $6.80 by $0.91. Travelers Companies had a return on equity of 24.06% and a net margin of 15.54%.The firm had revenue of $11.92 billion during the quarter, compared to the consensus estimate of $11.11 billion. During the same period last year, the company earned $1.91 earnings per share. The business's revenue was down 1.7% compared to the same quarter last year. Analysts anticipate that The Travelers Companies, Inc. will post 28 EPS for the current fiscal year.

Travelers Companies Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Wednesday, June 10th will be given a $1.25 dividend. The ex-dividend date of this dividend is Wednesday, June 10th. This is a positive change from Travelers Companies's previous quarterly dividend of $1.10. This represents a $5.00 dividend on an annualized basis and a dividend yield of 1.7%. Travelers Companies's payout ratio is 13.09%.

Travelers Companies 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.