The Travelers Companies, Inc. $TRV Position Trimmed by Envestnet Asset Management Inc.

Key Points

• Envestnet Asset Management cut its Travelers stake by 6.7% in the second quarter, selling 40,321 shares and retaining 557,657 shares valued at approximately $184.1 million. Institutional investors own 82.45% of TRV.
• Travelers reported quarterly earnings of $10.04 per share, far exceeding the $5.41 analyst consensus, while revenue reached $12.15 billion. Analysts maintain a consensus “Hold” rating with an average price target of $354.53.
• The company declared a quarterly dividend of $1.25 per share, equivalent to $5.00 annually and a 1.4% yield; insiders sold 58,667 shares worth about $21.8 million during the last quarter.

Envestnet Asset Management Inc. decreased its holdings in shares of The Travelers Companies, Inc. (NYSE:TRV - Free Report) by 6.7% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 557,657 shares of the insurance provider's stock after selling 40,321 shares during the period. Envestnet Asset Management Inc. owned 0.27% of Travelers Companies worth $184,091,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in TRV. BlackRock Inc. bought a new position in shares of Travelers Companies in the second quarter worth approximately $6,915,909,000. State Street Corp lifted its holdings in shares of Travelers Companies by 3.1% during the fourth quarter. State Street Corp now owns 16,000,457 shares of the insurance provider's stock valued at $4,641,093,000 after purchasing an additional 486,861 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Travelers Companies by 3.7% during the first quarter. Dimensional Fund Advisors LP now owns 3,484,676 shares of the insurance provider's stock valued at $1,016,433,000 after buying an additional 123,564 shares during the last quarter. Bank of America Corp DE purchased a new stake in shares of Travelers Companies during the second quarter valued at $932,142,000. Finally, GQG Partners LLC bought a new stake in Travelers Companies in the 2nd quarter worth about $789,024,000. 82.45% of the stock is owned by institutional investors.

Insider Activity at Travelers Companies

In other Travelers Companies news, EVP Maria Olivo sold 6,000 shares of Travelers Companies stock in a transaction that occurred on Friday, August 28th. The shares were sold at an average price of $369.86, for a total transaction of $2,219,160.00. Following the transaction, the executive vice president owned 118,742 shares of the company's stock, valued at $43,917,916.12. The trade was a 4.81% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Daniel Yin sold 7,153 shares of the company's stock in a transaction that occurred 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 completion of the transaction, the executive vice president owned 68,834 shares of the company's stock, valued at approximately $26,638,758. The trade was a 9.41% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 58,667 shares of company stock worth $21,830,989 in the last quarter. 1.39% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the company. Zacks Research raised Travelers Companies from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, July 29th. Piper Sandler raised their price target on shares of Travelers Companies to $340.00 and gave the company an "overweight" rating in a report on Monday, July 13th. Citigroup reiterated a "market perform" rating on shares of Travelers Companies in a research note on Monday, July 20th. Roth Capital boosted their price objective on shares of Travelers Companies from $345.00 to $425.00 and gave the company a "buy" rating in a report on Tuesday, July 21st. Finally, Raymond James Financial set a $430.00 price objective on shares of Travelers Companies in a research report on Monday, July 20th. Four analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating, twelve have issued a Hold rating and five have issued a Sell rating to the company. According to data from MarketBeat, Travelers Companies currently has a consensus rating of "Hold" and an average price target of $354.53.

Travelers Companies Trading Up 0.4%

Shares of TRV stock opened at $362.00 on Friday. 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 company has a market cap of $75.50 billion, a price-to-earnings ratio of 9.69, a PEG ratio of 2.43 and a beta of 0.44. The Travelers Companies, Inc. has a 1 year low of $252.26 and a 1 year high of $398.70. The firm has a fifty day moving average price of $372.85 and a 200-day moving average price of $329.91.

Travelers Companies (NYSE:TRV - Get Free Report) last announced its earnings results on Friday, July 17th. The insurance provider reported $10.04 EPS for the quarter, topping 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 for the quarter, compared to analysts' expectations of $11.26 billion. During the same period last year, the firm earned $6.51 EPS. Travelers Companies's revenue for the quarter was up .3% compared to the same quarter last year. As a group, equities analysts predict that The Travelers Companies, Inc. will post 33.82 earnings per share for the current year.

Travelers Companies Announces Dividend

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

About Travelers Companies

The Travelers Companies, Inc NYSE: TRV is a leading provider of property and casualty insurance products and services. The company serves individuals, businesses and public-sector organizations through a range of insurance offerings designed to help customers manage risks related to property, liability, transportation and other exposures.

Travelers' principal businesses include Business Insurance, Bond & Specialty Insurance, and Personal Insurance. Its products and services include commercial property and casualty coverage, workers' compensation, general and professional liability insurance, surety and fidelity bonds, cyber insurance, homeowners insurance, automobile insurance and other personal lines products.

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