NEOS Investment Management LLC Boosts Stake in The Travelers Companies, Inc. $TRV

Key Points

• NEOS Investment Management increased its Travelers stake by 11.3% in the second quarter, adding 3,535 shares to hold 34,718 shares valued at approximately $11.46 million. Institutional investors collectively own 82.45% of TRV.
• Travelers reported strong quarterly results, with earnings of $10.04 per share versus the $5.41 consensus estimate and revenue of $12.15 billion, above expectations. The company also declared a quarterly dividend of $1.25 per share, equivalent to a 1.4% yield.
• Despite the earnings beat, analyst sentiment remains mixed: TRV has a consensus “Hold” rating and an average price target of $354.26, below its reported market price of $369.01. Several company executives also sold shares during the quarter.

NEOS Investment Management LLC boosted its stake in shares of The Travelers Companies, Inc. (NYSE:TRV - Free Report) by 11.3% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 34,718 shares of the insurance provider's stock after buying an additional 3,535 shares during the quarter. NEOS Investment Management LLC's holdings in Travelers Companies were worth $11,461,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of TRV. LifeSteps Financial Inc. purchased a new position in shares of Travelers Companies in the second quarter valued at approximately $26,000. Kilter Group LLC purchased a new stake in Travelers Companies during the 2nd quarter worth about $26,000. HHM Wealth Advisors LLC boosted its position in shares of Travelers Companies by 145.7% during the 1st quarter. HHM Wealth Advisors LLC now owns 86 shares of the insurance provider's stock worth $25,000 after acquiring an additional 51 shares in the last quarter. Kemnay Advisory Services Inc. purchased a new position in shares of Travelers Companies in the 4th quarter valued at about $26,000. Finally, Whipplewood Advisors LLC acquired a new stake in shares of Travelers Companies during the 1st quarter worth about $26,000. 82.45% of the stock is currently owned by hedge funds and other institutional investors.

Travelers Companies Stock Performance

NYSE TRV opened at $369.01 on Friday. The firm has a market cap of $76.96 billion, a P/E ratio of 9.88, a P/E/G ratio of 2.48 and a beta of 0.44. The Travelers Companies, Inc. has a 52-week low of $252.26 and a 52-week high of $398.70. The business's 50-day moving average price is $363.46 and its 200 day moving average price is $323.28. The company has a quick ratio of 0.33, a current ratio of 0.33 and a debt-to-equity ratio of 0.27.

Travelers Companies (NYSE:TRV - Get Free Report) last posted its quarterly earnings data 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 return on equity of 25.41% and a net margin of 16.95%.The firm had revenue of $12.15 billion during the quarter, compared to the consensus estimate of $11.26 billion. During the same period in the prior year, the business earned $6.51 EPS. The firm's revenue was up .3% compared to the same quarter last year. On average, equities research analysts expect that The Travelers Companies, Inc. will post 33.82 earnings per share for the current year.

Travelers Companies Announces Dividend

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

Wall Street Analysts Forecast Growth

TRV has been the topic of a number of research analyst reports. UBS Group raised their price objective on shares of Travelers Companies from $314.00 to $350.00 and gave the stock a "neutral" rating in a report on Wednesday, July 8th. Piper Sandler boosted their price target on shares of Travelers Companies to $340.00 and gave the company an "overweight" rating in a research report on Monday, July 13th. Wells Fargo & Company raised their price objective on Travelers Companies from $295.00 to $334.00 and gave the stock an "equal weight" rating in a report on Thursday, July 9th. Keefe, Bruyette & Woods reissued a "market perform" rating and issued a $356.00 target price (up from $342.00) on shares of Travelers Companies in a report on Wednesday, July 8th. Finally, BMO Capital Markets downgraded Travelers Companies from an "outperform" rating to a "market perform" rating and raised their price target for the stock from $314.00 to $379.00 in a research note on Tuesday, July 21st. Four investment 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 issued a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $354.26.

Insiders Place Their Bets

In other Travelers Companies news, EVP Michael Klein sold 6,000 shares of the stock in a transaction on Tuesday, July 21st. The stock was sold at an average price of $366.09, for a total value of $2,196,540.00. Following the completion of the transaction, the executive vice president owned 45,125 shares in the company, valued at approximately $16,519,811.25. This represents a 11.74% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Daniel Yin sold 7,153 shares of the business's stock in a transaction on Friday, July 24th. The stock was sold at an average price of $387.00, for a total transaction of $2,768,211.00. Following the sale, the executive vice president owned 68,834 shares in the company, valued at $26,638,758. The trade was a 9.41% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 58,667 shares of company stock valued at $21,830,989. Corporate insiders own 1.39% of the company's stock.

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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