The Travelers Companies, Inc. $TRV Shares Acquired by Annex Advisory Services LLC

Key Points

• Annex Advisory Services increased its Travelers stake by 299.2% in the second quarter, purchasing 8,818 additional shares for a total holding of 11,765 shares valued at approximately $3.88 million. Institutional investors collectively own 82.45% of the stock.
• Travelers reported quarterly earnings of $10.04 per share, well above the $5.41 consensus estimate, while revenue reached $12.15 billion. Analysts maintain a mixed outlook, with an overall “Hold” rating and an average price target of $354.26.
• The company declared a quarterly dividend of $1.25 per share, equal to $5.00 annually and a 1.4% yield. Meanwhile, insiders sold 62,667 shares worth $22.69 million over the past 90 days.

Annex Advisory Services LLC boosted its stake in shares of The Travelers Companies, Inc. (NYSE:TRV - Free Report) by 299.2% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 11,765 shares of the insurance provider's stock after purchasing an additional 8,818 shares during the quarter. Annex Advisory Services LLC's holdings in Travelers Companies were worth $3,884,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in TRV. Tema ETFs LLC raised its holdings in shares of Travelers Companies by 8.6% during the second quarter. Tema ETFs LLC now owns 3,671 shares of the insurance provider's stock valued at $1,212,000 after buying an additional 290 shares during the last quarter. Canvas Wealth Advisors LLC grew its holdings in Travelers Companies by 10.3% in the 2nd quarter. Canvas Wealth Advisors LLC now owns 935 shares of the insurance provider's stock worth $309,000 after buying an additional 87 shares in the last quarter. Fiduciary Financial Group LLC increased its position in Travelers Companies by 7.1% in the 2nd quarter. Fiduciary Financial Group LLC now owns 1,475 shares of the insurance provider's stock valued at $487,000 after acquiring an additional 98 shares during the period. Charles Schwab Trust Co increased its position in Travelers Companies by 14.9% in the 2nd quarter. Charles Schwab Trust Co now owns 1,170 shares of the insurance provider's stock valued at $386,000 after acquiring an additional 152 shares during the period. Finally, Bay Colony Advisory Group Inc d b a Bay Colony Advisors raised its stake in Travelers Companies by 28.4% during the 2nd quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 2,376 shares of the insurance provider's stock valued at $784,000 after acquiring an additional 525 shares in the last quarter. 82.45% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research analysts have issued reports on the company. Bank of America boosted their price target on Travelers Companies from $283.00 to $307.00 and gave the stock an "underperform" rating in a research report on Monday, July 20th. Weiss Ratings restated a "buy (a-)" rating on shares of Travelers Companies in a research note on Wednesday, August 5th. JPMorgan Chase & Co. raised shares of Travelers Companies from an "underweight" rating to a "neutral" rating and upped their price objective for the stock from $316.00 to $322.00 in a report on Tuesday, May 26th. Piper Sandler increased their target price on shares of Travelers Companies to $340.00 and gave the company an "overweight" rating in a research report on Monday, July 13th. Finally, Zacks Research raised shares of Travelers Companies from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, July 29th. Four research analysts have rated the stock with a Strong Buy rating, four have given a Buy rating, thirteen have assigned a Hold rating and five have issued a Sell rating to the stock. Based on data from MarketBeat.com, Travelers Companies currently has an average rating of "Hold" and an average price target of $354.26.

Insider Buying and Selling

In other news, EVP Diane Kurtzman sold 4,164 shares of the firm's stock in a transaction dated Friday, July 24th. The shares were sold at an average price of $386.71, for a total transaction of $1,610,260.44. Following the completion of the transaction, the executive vice president owned 5,298 shares in the company, valued at approximately $2,048,789.58. This trade represents a 44.01% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Daniel Tei-Hwa Yin sold 7,153 shares of Travelers Companies 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 directly owned 68,834 shares in the company, valued at $26,638,758. This represents a 9.41% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 62,667 shares of company stock worth $22,688,329 in the last ninety days. Insiders own 1.39% of the company's stock.

Travelers Companies Stock Down 1.5%

Shares of TRV stock opened at $369.94 on Thursday. 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 quick ratio of 0.33 and a current ratio of 0.33. The business's fifty day moving average is $343.11 and its 200-day moving average is $314.21. The stock has a market cap of $77.16 billion, a PE ratio of 9.91, a price-to-earnings-growth ratio of 3.57 and a beta of 0.45.

Travelers Companies (NYSE:TRV - Get Free Report) last announced 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 return on equity of 25.41% and a net margin of 16.95%.The business had revenue of $12.15 billion during the quarter, compared to analyst estimates of $11.26 billion. During the same quarter in the prior year, the firm posted $6.51 earnings per share. The company's revenue was up .3% on a year-over-year basis. Equities analysts expect that The Travelers Companies, Inc. will post 33.82 earnings per share for the current fiscal year.

Travelers Companies Dividend Announcement

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

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source