Paralel Advisors LLC Invests $72.63 Million in The Travelers Companies, Inc. $TRV

Key Points

• Paralel Advisors LLC acquired 220,000 Travelers shares worth approximately $72.63 million, making TRV its ninth-largest portfolio holding and representing about 2.8% of its portfolio.
• 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 1.4% yield.
• Analyst sentiment remains mixed, with a consensus rating of “Hold” and an average price target of $354.26, below the stock’s reported opening price of $364.79.

Paralel Advisors LLC bought a new stake in The Travelers Companies, Inc. (NYSE:TRV - Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 220,000 shares of the insurance provider's stock, valued at approximately $72,626,000. Travelers Companies accounts for about 2.8% of Paralel Advisors LLC's portfolio, making the stock its 9th largest position. Paralel Advisors LLC owned 0.11% of Travelers Companies as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in TRV. Berman McAleer LLC grew its stake in Travelers Companies by 3.5% during the 2nd quarter. Berman McAleer LLC now owns 894 shares of the insurance provider's stock valued at $295,000 after purchasing an additional 30 shares during the last quarter. Willner & Heller LLC raised its stake in shares of Travelers Companies by 2.7% in the second quarter. Willner & Heller LLC now owns 1,206 shares of the insurance provider's stock worth $398,000 after purchasing an additional 32 shares during the last quarter. Spinnaker Trust raised its stake in shares of Travelers Companies by 1.7% in the first quarter. Spinnaker Trust now owns 1,938 shares of the insurance provider's stock worth $565,000 after purchasing an additional 33 shares during the last quarter. Cim LLC lifted its holdings in shares of Travelers Companies by 0.4% during the fourth quarter. Cim LLC now owns 8,145 shares of the insurance provider's stock worth $2,363,000 after purchasing an additional 34 shares during the period. Finally, Avalon Trust Co lifted its holdings in shares of Travelers Companies by 0.4% during the first quarter. Avalon Trust Co now owns 8,784 shares of the insurance provider's stock worth $2,562,000 after purchasing an additional 35 shares during the period. Hedge funds and other institutional investors own 82.45% of the company's stock.

Insider Transactions at Travelers Companies

In related news, EVP Daniel Tei-Hwa Yin sold 7,153 shares of the business's stock in a transaction on Friday, July 24th. The shares were sold at an average price of $387.00, for a total value of $2,768,211.00. Following the completion of the transaction, the executive vice president directly owned 68,834 shares in the company, valued at $26,638,758. The trade was a 9.41% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Daniel S. Frey sold 14,037 shares of the stock in a transaction on Tuesday, July 21st. The stock was sold at an average price of $368.24, for a total transaction of $5,168,984.88. Following the sale, the chief financial officer directly owned 27,535 shares in the company, valued at $10,139,488.40. This trade represents a 33.77% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 62,667 shares of company stock worth $22,688,329. Insiders own 1.39% of the company's stock.

Travelers Companies Stock Up 0.7%

Travelers Companies stock opened at $364.79 on Friday. The business's 50-day moving average price is $351.09 and its 200 day moving average price is $317.80. 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 has a market cap of $76.09 billion, a price-to-earnings ratio of 9.77, a price-to-earnings-growth ratio of 3.44 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.

Travelers Companies (NYSE:TRV - Get Free Report) last announced its quarterly earnings results on Friday, July 17th. The insurance provider reported $10.04 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $5.41 by $4.63. Travelers Companies had a return on equity of 25.41% and a net margin of 16.95%.The company had revenue of $12.15 billion during the quarter, compared to the consensus estimate of $11.26 billion. During the same period in the previous year, the company posted $6.51 earnings per share. Travelers Companies's revenue for the quarter was up .3% on a year-over-year basis. As a group, sell-side analysts anticipate that The Travelers Companies, Inc. will post 33.82 earnings per share for the current year.

Travelers Companies Announces Dividend

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

Analyst Ratings Changes

TRV has been the topic of several research reports. The Goldman Sachs Group downgraded shares of Travelers Companies from a "neutral" rating to a "sell" rating and set a $350.00 price target on the stock. in a report on Monday, July 20th. Roth Capital lifted their price objective on shares of Travelers Companies from $345.00 to $425.00 and gave the company a "buy" rating in a research note on Tuesday, July 21st. Morgan Stanley upped their price objective on shares of Travelers Companies from $290.00 to $330.00 and gave the company an "underweight" rating in a report on Tuesday, July 21st. HSBC increased their price objective on shares of Travelers Companies from $321.00 to $351.00 and gave the stock a "hold" rating in a research note on Monday, July 6th. Finally, Barclays raised their target price on shares of Travelers Companies from $295.00 to $318.00 and gave the stock an "underweight" rating in a report on Tuesday, July 21st. Four investment analysts have rated the stock with a Strong Buy rating, four have given a Buy rating, thirteen have issued a Hold rating and five have issued a Sell rating to the company's stock. According to data from MarketBeat, Travelers Companies has a consensus rating of "Hold" and an average target price of $354.26.

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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