OLD National Bancorp IN Increases Holdings in The Travelers Companies, Inc. $TRV

Key Points

• OLD National Bancorp IN increased its holdings in The Travelers Companies by 23.6% in the second quarter, bringing its total ownership to 5,536 shares valued at approximately $1.48 million.
• Multiple large investors have also made significant changes, with Nuveen LLC purchasing a new position worth $294.76 million and Bahl & Gaynor increasing its stake by 41.2%.
• The Travelers Companies reported $6.51 EPS for the last quarter, exceeding analysts' expectations and showing a 7.4% revenue increase year-over-year.

OLD National Bancorp IN increased its holdings in shares of The Travelers Companies, Inc. (NYSE:TRV - Free Report) by 23.6% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,536 shares of the insurance provider's stock after purchasing an additional 1,058 shares during the quarter. OLD National Bancorp IN's holdings in Travelers Companies were worth $1,481,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in the business. Nuveen LLC purchased a new position in shares of Travelers Companies in the first quarter worth $294,755,000. Bahl & Gaynor Inc. lifted its stake in Travelers Companies by 41.2% in the 1st quarter. Bahl & Gaynor Inc. now owns 1,679,275 shares of the insurance provider's stock worth $444,101,000 after purchasing an additional 490,039 shares in the last quarter. Goldman Sachs Group Inc. boosted its holdings in shares of Travelers Companies by 25.3% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,934,625 shares of the insurance provider's stock valued at $511,631,000 after purchasing an additional 390,104 shares during the last quarter. Robeco Institutional Asset Management B.V. boosted its holdings in shares of Travelers Companies by 86.5% during the 2nd quarter. Robeco Institutional Asset Management B.V. now owns 738,901 shares of the insurance provider's stock valued at $197,686,000 after purchasing an additional 342,666 shares during the last quarter. Finally, AQR Capital Management LLC grew its position in shares of Travelers Companies by 24.0% during the first quarter. AQR Capital Management LLC now owns 1,431,736 shares of the insurance provider's stock valued at $377,921,000 after purchasing an additional 276,850 shares in the last quarter. 82.45% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Travelers Companies

In other news, EVP Gregory C. Toczydlowski sold 11,505 shares of the stock in a transaction that occurred on Monday, July 21st. The stock was sold at an average price of $266.12, for a total value of $3,061,710.60. Following the sale, the executive vice president directly owned 18,416 shares in the company, valued at approximately $4,900,865.92. This represents a 38.45% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Mojgan M. Lefebvre sold 16,820 shares of the business's stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $277.54, for a total value of $4,668,222.80. The disclosure for this sale can be found here. Corporate insiders own 1.46% of the company's stock.

Analyst Upgrades and Downgrades

TRV has been the subject of a number of research reports. UBS Group increased their price target on Travelers Companies from $275.00 to $284.00 and gave the company a "neutral" rating in a research note on Monday, July 21st. Barclays lowered shares of Travelers Companies from an "overweight" rating to an "equal weight" rating and cut their target price for the company from $280.00 to $274.00 in a report on Monday, July 7th. Evercore ISI reaffirmed an "outperform" rating on shares of Travelers Companies in a research note on Wednesday, October 1st. Wall Street Zen lowered shares of Travelers Companies from a "buy" rating to a "hold" rating in a research report on Saturday, August 9th. Finally, Keefe, Bruyette & Woods lifted their price objective on shares of Travelers Companies from $304.00 to $316.00 and gave the stock an "outperform" rating in a research note on Friday, July 18th. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, eleven have given a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $284.56.

Travelers Companies Trading Down 0.7%

TRV stock opened at $282.70 on Tuesday. The Travelers Companies, Inc. has a twelve month low of $224.62 and a twelve month high of $286.17. The stock has a market capitalization of $63.65 billion, a price-to-earnings ratio of 12.50, a price-to-earnings-growth ratio of 3.27 and a beta of 0.51. The company has a quick ratio of 0.33, a current ratio of 0.33 and a debt-to-equity ratio of 0.27. The firm's fifty day simple moving average is $272.16 and its two-hundred day simple moving average is $265.71.

Travelers Companies (NYSE:TRV - Get Free Report) last released its quarterly earnings results on Thursday, July 17th. The insurance provider reported $6.51 EPS for the quarter, topping analysts' consensus estimates of $3.52 by $2.99. The firm had revenue of $11.54 billion during the quarter, compared to analysts' expectations of $11.02 billion. Travelers Companies had a net margin of 10.97% and a return on equity of 18.68%. The firm's revenue for the quarter was up 7.4% compared to the same quarter last year. During the same period in the previous year, the company earned $2.51 EPS. As a group, analysts anticipate that The Travelers Companies, Inc. will post 17.02 earnings per share for the current year.

Travelers Companies Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Wednesday, September 10th were given a dividend of $1.10 per share. This represents a $4.40 annualized dividend and a dividend yield of 1.6%. The ex-dividend date was Wednesday, September 10th. Travelers Companies's payout ratio is 19.46%.

Travelers Companies Profile

The Travelers Companies, Inc, through its subsidiaries, provides a range of commercial and personal property, and casualty insurance products and services to businesses, government units, associations, and individuals in the United States and internationally. The company operates through three segments: Business Insurance, Bond & Specialty Insurance, and Personal Insurance.

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