NewEdge Wealth LLC Takes $21.16 Million Position in The Travelers Companies, Inc. $TRV

Key Points

• NewEdge Wealth acquired 95,978 shares of Travelers Companies in the second quarter, valued at approximately $21.16 million. Institutional investors and hedge funds collectively own 82.45% of the insurer.
• Travelers reported strong quarterly results, with earnings per share of $10.04 versus the $5.41 consensus estimate and revenue of $12.15 billion. The company also declared a quarterly dividend of $1.25, equivalent to a 1.4% annual yield.
• Analyst sentiment remains mixed: the stock has an average “Hold” rating and a consensus price target of $354.26, below its reported opening price of $362.47. Several executives also sold shares during the quarter.

NewEdge Wealth LLC acquired a new stake in The Travelers Companies, Inc. (NYSE:TRV - Free Report) in the second quarter, according to the company in its most recent filing with the SEC. The firm acquired 95,978 shares of the insurance provider's stock, valued at approximately $21,162,000.

Other hedge funds have also added to or reduced their stakes in the company. Brighton Jones LLC grew 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 acquired a new stake in Travelers Companies in the fourth quarter valued at $276,000. WINTON GROUP Ltd bought a new position in Travelers Companies during the 2nd quarter worth $382,000. CIBC Asset Management Inc raised its position in Travelers Companies by 13.9% during the 2nd quarter. CIBC Asset Management Inc now owns 68,537 shares of the insurance provider's stock worth $18,336,000 after purchasing an additional 8,383 shares during the last quarter. Finally, Treasurer of the State of North Carolina lifted its holdings in Travelers Companies by 2.0% during 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 during the period. 82.45% of the stock is currently owned by institutional investors and hedge funds.

Travelers Companies Price Performance

Travelers Companies stock opened at $362.47 on Thursday. The stock has a market capitalization of $75.60 billion, a price-to-earnings ratio of 9.71, a PEG ratio of 3.50 and a beta of 0.45. The Travelers Companies, Inc. has a 52-week low of $252.26 and a 52-week high of $398.70. The stock's 50 day moving average price is $349.88 and its two-hundred day moving average price is $317.23. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.33 and a current ratio of 0.33.

Travelers Companies (NYSE:TRV - Get Free Report) last released its quarterly earnings data on Friday, July 17th. The insurance provider reported $10.04 earnings per share 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 company had revenue of $12.15 billion during the quarter, compared to analyst estimates of $11.26 billion. During the same quarter in the previous year, the business posted $6.51 EPS. Travelers Companies's revenue for the quarter was up .3% compared to the same quarter last year. On average, equities analysts predict that The Travelers Companies, Inc. will post 33.82 earnings per share for the current year.

Travelers Companies Dividend Announcement

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

Insider Transactions at Travelers Companies

In other news, EVP Daniel Tei-Hwa Yin sold 7,153 shares of the firm's stock in a transaction dated Friday, July 24th. The stock was sold at an average price of $387.00, for a total value of $2,768,211.00. Following the completion of the sale, the executive vice president directly owned 68,834 shares in the company, valued at $26,638,758. This trade represents a 9.41% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, EVP Diane Kurtzman sold 4,164 shares of the business's stock in a transaction dated Friday, July 24th. The shares were sold at an average price of $386.71, for a total value of $1,610,260.44. Following the completion of the sale, the executive vice president directly owned 5,298 shares of the company's stock, valued at $2,048,789.58. The trade was a 44.01% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 62,667 shares of company stock valued at $22,688,329. 1.39% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. UBS Group increased their price target on Travelers Companies from $314.00 to $350.00 and gave the company a "neutral" rating in a research note on Wednesday, July 8th. Piper Sandler lifted their price objective on Travelers Companies to $340.00 and gave the stock an "overweight" rating in a research note on Monday, July 13th. TD Cowen cut Travelers Companies from a "hold" rating to a "sell" rating and set a $297.00 target price on the stock. in a report on Monday, July 13th. Wells Fargo & Company increased their target price 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, Raymond James Financial set a $430.00 price target on shares of Travelers Companies in a report on Monday, July 20th. Four analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating, thirteen have assigned a Hold rating and five have issued a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $354.26.

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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