SteelPeak Wealth LLC Raises Stock Position in The Travelers Companies, Inc. $TRV

Key Points

• SteelPeak Wealth increased its Travelers stake by 916.6% in the second quarter, purchasing 38,974 additional shares for a total holding of 43,226 shares valued at $14.27 million. Institutional investors collectively own 82.45% of TRV.
• Travelers reported a strong quarterly performance, with EPS of $10.04 versus the $5.41 consensus estimate and revenue of $12.15 billion, ahead of expectations. The company also declared a quarterly dividend of $1.25, equivalent to a 1.4% yield.
• TRV shares opened at $369.94, near the upper end of their 52-week range, while analysts maintain a consensus rating of “Hold” with an average price target of $354.26. Meanwhile, company insiders sold 62,667 shares worth approximately $22.69 million during the quarter.

SteelPeak Wealth LLC raised its stake in shares of The Travelers Companies, Inc. (NYSE:TRV - Free Report) by 916.6% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 43,226 shares of the insurance provider's stock after purchasing an additional 38,974 shares during the period. SteelPeak Wealth LLC's holdings in Travelers Companies were worth $14,270,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Brighton Jones LLC lifted its position 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 valued at $789,000 after acquiring an additional 387 shares in the last quarter. Revolve Wealth Partners LLC purchased a new stake in shares of Travelers Companies during the fourth quarter worth approximately $276,000. WINTON GROUP Ltd acquired a new position in Travelers Companies in the 2nd quarter valued at $382,000. CIBC Asset Management Inc lifted its holdings in Travelers Companies by 13.9% in the 2nd quarter. CIBC Asset Management Inc now owns 68,537 shares of the insurance provider's stock valued at $18,336,000 after purchasing an additional 8,383 shares in the last quarter. Finally, Treasurer of the State of North Carolina boosted its stake 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 purchasing an additional 2,117 shares during the last quarter. Institutional investors and hedge funds own 82.45% of the company's stock.

Insider Buying and Selling at Travelers Companies

In related news, EVP David Donnay Rowland sold 5,000 shares of the firm's stock in a transaction dated Wednesday, July 22nd. The stock was sold at an average price of $371.69, for a total transaction of $1,858,450.00. Following the completion of the sale, the executive vice president directly owned 10,479 shares of the company's stock, valued at approximately $3,894,939.51. This trade represents a 32.30% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Daniel S. Frey sold 14,037 shares of the business's stock in a transaction dated Tuesday, July 21st. The shares were sold at an average price of $368.24, for a total transaction of $5,168,984.88. Following the completion of the sale, the chief financial officer owned 27,535 shares in the company, valued at approximately $10,139,488.40. This trade represents a 33.77% 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 worth $22,688,329. Insiders own 1.39% of the company's stock.

Travelers Companies Stock Performance

NYSE:TRV opened at $369.94 on Thursday. The company's 50-day moving average is $343.11 and its two-hundred day moving average is $314.21. The Travelers Companies, Inc. has a 1-year low of $252.26 and a 1-year high of $398.70. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.33 and a quick ratio of 0.33. The firm has a market capitalization of $77.16 billion, a price-to-earnings ratio of 9.91, a PEG ratio of 3.57 and a beta of 0.45.

Travelers Companies (NYSE:TRV - Get Free Report) last released its quarterly earnings results on Friday, July 17th. The insurance provider reported $10.04 EPS for the quarter, beating the consensus estimate of $5.41 by $4.63. The firm had revenue of $12.15 billion for the quarter, compared to analyst estimates of $11.26 billion. Travelers Companies had a net margin of 16.95% and a return on equity of 25.41%. The business's revenue for the quarter was up .3% compared to the same quarter last year. During the same quarter in the previous year, the company earned $6.51 EPS. Analysts forecast that The Travelers Companies, Inc. will post 33.82 EPS for the current year.

Travelers Companies Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Thursday, September 10th will be paid a $1.25 dividend. 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 dividend payout ratio is 13.39%.

Analyst Ratings Changes

A number of brokerages have recently commented on TRV. Cantor Fitzgerald increased their target price on shares of Travelers Companies from $335.00 to $360.00 and gave the company an "overweight" rating in a research report on Thursday, July 9th. Seaport Research Partners set a $322.00 price objective on shares of Travelers Companies in a research note on Tuesday, May 26th. Weiss Ratings reiterated a "buy (a-)" rating on shares of Travelers Companies in a report on Wednesday, August 5th. JPMorgan Chase & Co. upgraded Travelers Companies from an "underweight" rating to a "neutral" rating and boosted their target price for the stock from $316.00 to $322.00 in a report on Tuesday, May 26th. Finally, BMO Capital Markets lowered Travelers Companies from an "outperform" rating to a "market perform" rating and upped their price target for the company from $314.00 to $379.00 in a research report on Tuesday, July 21st. Four investment analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating, thirteen have issued a Hold rating and five have assigned a Sell rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Hold" and an average price target of $354.26.

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.

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