Arrowstreet Capital Limited Partnership grew its holdings in shares of The Travelers Companies, Inc. (NYSE:TRV - Free Report) by 6.8% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 821,884 shares of the insurance provider's stock after buying an additional 52,651 shares during the period. Arrowstreet Capital Limited Partnership owned 0.39% of Travelers Companies worth $239,727,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors have also made changes to their positions in TRV. HHM Wealth Advisors LLC grew its position in Travelers Companies by 145.7% in the 1st quarter. HHM Wealth Advisors LLC now owns 86 shares of the insurance provider's stock valued at $25,000 after buying an additional 51 shares in the last quarter. Whipplewood Advisors LLC acquired a new position in Travelers Companies during the 1st quarter valued at about $26,000. Kemnay Advisory Services Inc. bought a new stake in shares of Travelers Companies during the 4th quarter worth about $26,000. Osterweis Capital Management Inc. raised its position in shares of Travelers Companies by 1,820.0% during the 2nd quarter. Osterweis Capital Management Inc. now owns 96 shares of the insurance provider's stock worth $26,000 after buying an additional 91 shares in the last quarter. Finally, Kohmann Bosshard Financial Services LLC acquired a new stake in shares of Travelers Companies in the 4th quarter worth approximately $28,000. 82.45% of the stock is currently owned by institutional investors and hedge funds.
Insider Activity
In other news, EVP Michael Frederick Klein sold 10,000 shares of the stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $307.65, for a total value of $3,076,500.00. Following the completion of the sale, the executive vice president directly owned 45,125 shares of the company's stock, valued at approximately $13,882,706.25. This represents a 18.14% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Avrohom J. Kess sold 6,735 shares of the company's stock in a transaction on Tuesday, April 28th. The shares were sold at an average price of $308.78, for a total transaction of $2,079,633.30. Following the transaction, the insider owned 48,737 shares of the company's stock, valued at approximately $15,049,010.86. The trade was a 12.14% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 18,292 shares of company stock valued at $5,639,800. 1.39% of the stock is owned by insiders.
Travelers Companies Trading Up 2.9%
Travelers Companies stock opened at $387.42 on Friday. The Travelers Companies, Inc. has a one year low of $252.26 and a one year high of $389.11. The company's fifty day moving average price is $322.06 and its two-hundred day moving average price is $304.48. The company has a market capitalization of $80.80 billion, a price-to-earnings ratio of 10.38, a PEG ratio of 3.76 and a beta of 0.46. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.33 and a quick ratio of 0.35.
Travelers Companies (NYSE:TRV - Get Free Report) last issued its quarterly earnings data on Friday, July 17th. The insurance provider reported $10.04 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 business had revenue of $12.15 billion for the quarter, compared to analyst estimates of $11.26 billion. During the same quarter in the prior year, the firm posted $6.51 EPS. The firm's revenue for the quarter was up .3% on a year-over-year basis. On average, analysts forecast that The Travelers Companies, Inc. will post 32.15 earnings per share for the current fiscal year.
Travelers Companies Announces Dividend
The company also recently disclosed 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 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date is Thursday, September 10th. Travelers Companies's payout ratio is presently 13.39%.
Wall Street Analysts Forecast Growth
A number of research analysts recently commented on the stock. Cantor Fitzgerald raised their price objective on shares of Travelers Companies from $335.00 to $360.00 and gave the company an "overweight" rating in a research note on Thursday, July 9th. JPMorgan Chase & Co. upgraded Travelers Companies from an "underweight" rating to a "neutral" rating and lifted their price target for the company from $316.00 to $322.00 in a research report on Tuesday, May 26th. Seaport Research Partners set a $322.00 price objective on Travelers Companies in a research note on Tuesday, May 26th. Keefe, Bruyette & Woods restated a "market perform" rating and issued a $356.00 price objective (up from $342.00) on shares of Travelers Companies in a report on Wednesday, July 8th. Finally, Truist Financial boosted their price target on shares of Travelers Companies from $395.00 to $425.00 and gave the stock a "buy" rating in a research report on Monday, July 20th. Three research analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating, fourteen have given a Hold rating and five have assigned a Sell rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $354.26.
Check Out Our Latest Stock Analysis on Travelers Companies
Key Travelers Companies News
Here are the key news stories impacting Travelers Companies this week:
- Positive Sentiment: Analyst coverage remained constructive, with Morgan Stanley and other firms highlighting potential upside, while a recent Zacks note said Travelers’ shares hit a 52-week high and questioned whether the run can continue. Morgan Stanley Forecasts Strong Price Appreciation for Travelers Companies NYSE: TRV Stock The Travelers Companies, Inc. (TRV) Hit a 52 Week High, Can the Run Continue?
- Positive Sentiment: AM Best assigned an “a+” issue credit rating with a stable outlook to Travelers’ new $750 million senior unsecured notes, signaling confidence in the company’s credit quality and access to capital. AM Best Assigns Issue Credit Rating to The Travelers Companies, Inc. New Senior Unsecured Notes
- Positive Sentiment: Travelers priced $750 million of 4.95% senior notes due 2031, which adds funding for general corporate purposes and appears manageable given the company’s strong balance sheet. Travelers Companies Prices $750 Million Senior Notes Offering
- Neutral Sentiment: Mizuho raised its price target to $343 from $324 but kept a neutral rating, suggesting the stock may have already moved ahead of near-term fundamentals. Mizuho price target update
- Negative Sentiment: Reports that several top Travelers executives sold company stock could weigh on sentiment, even if the transactions were routine. Top Travelers Executives Quietly Unload Millions in Company Stock
- Negative Sentiment: Deutsche Bank and UBS both reiterated hold-type views, reinforcing that some analysts see limited upside after the recent rally. Deutsche Bank Sticks to Its Hold Rating for Travelers Companies (TRV) UBS Releases a Hold Rating on Travelers Companies (TRV)
Travelers Companies Company Profile
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Free Report)
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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Want to see what other hedge funds are holding TRV? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for The Travelers Companies, Inc. (NYSE:TRV - Free Report).
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