The Travelers Companies, Inc. $TRV Shares Sold by State Street Corp

Key Points

• State Street reduced its Travelers stake by 2.7% in the second quarter, selling 427,965 shares and retaining 15.7 million shares valued at approximately $5.18 billion. Institutional investors collectively own 82.45% of the company.
• Travelers reported quarterly EPS of $10.04, well above the $5.41 consensus estimate, while revenue reached $12.15 billion. The company declared a quarterly dividend of $1.25, or $5.00 annually, representing a 1.4% yield.
• Analysts maintain a consensus “Hold” rating with an average price target of $354.53, despite mixed targets ranging from $307 to $425. Meanwhile, insiders sold 58,667 shares worth about $21.8 million during the last quarter.

State Street Corp lowered its stake in shares of The Travelers Companies, Inc. (NYSE:TRV - Free Report) by 2.7% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 15,706,016 shares of the insurance provider's stock after selling 427,965 shares during the quarter. State Street Corp owned about 7.53% of Travelers Companies worth $5,184,870,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of TRV. Berman McAleer LLC boosted 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 acquiring an additional 30 shares during the last quarter. Willner & Heller LLC boosted its position in Travelers Companies by 2.7% during the 2nd quarter. Willner & Heller LLC now owns 1,206 shares of the insurance provider's stock valued at $398,000 after purchasing an additional 32 shares during the period. Spinnaker Trust grew its position in shares of Travelers Companies by 1.7% during the first quarter. Spinnaker Trust now owns 1,938 shares of the insurance provider's stock worth $565,000 after acquiring an additional 33 shares during the last quarter. Avalon Trust Co grew its position in Travelers Companies by 0.4% in the 1st 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 last quarter. Finally, 111 Capital increased its position in Travelers Companies by 3.0% in the 4th quarter. 111 Capital now owns 1,223 shares of the insurance provider's stock valued at $355,000 after acquiring an additional 36 shares during the period. Hedge funds and other institutional investors own 82.45% of the company's stock.

Insiders Place Their Bets

In related news, EVP Daniel Yin sold 7,153 shares of the stock in a transaction dated Friday, July 24th. The shares were sold at an average price of $387.00, for a total transaction of $2,768,211.00. Following the completion of the sale, the executive vice president owned 68,834 shares in the company, valued at $26,638,758. This trade represents a 9.41% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Diane Kurtzman sold 4,164 shares of the business'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 ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 58,667 shares of company stock worth $21,830,989 in the last quarter. 1.39% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the company. UBS Group upped their target price on Travelers Companies from $314.00 to $350.00 and gave the stock a "neutral" rating in a research report on Wednesday, July 8th. Deutsche Bank Aktiengesellschaft reiterated a "hold" rating on shares of Travelers Companies in a report on Tuesday, July 21st. Keefe, Bruyette & Woods reissued a "market perform" rating and set a $356.00 target price (up from $342.00) on shares of Travelers Companies in a research note on Wednesday, July 8th. Bank of America increased their price objective on Travelers Companies from $283.00 to $307.00 and gave the stock an "underperform" rating in a report on Monday, July 20th. Finally, Truist Financial raised their target price on Travelers Companies from $395.00 to $425.00 and gave the company a "buy" rating in a report on Monday, July 20th. Four research analysts have rated the stock with a Strong Buy rating, four have given a Buy rating, twelve have assigned a Hold rating and five have assigned a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $354.53.

Travelers Companies Price Performance

NYSE TRV traded down $8.28 during trading on Tuesday, reaching $362.85. 535,070 shares of the company traded hands, compared to its average volume of 1,680,038. The Travelers Companies, Inc. has a 1-year low of $252.26 and a 1-year high of $398.70. The company has a market cap of $75.68 billion, a price-to-earnings ratio of 9.73, a P/E/G ratio of 2.51 and a beta of 0.44. The stock's 50 day moving average price is $371.22 and its two-hundred day moving average price is $328.78. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.33 and a current ratio of 0.33.

Travelers Companies (NYSE:TRV - Get Free Report) last posted its earnings results on Friday, July 17th. The insurance provider reported $10.04 EPS for the quarter, topping 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 the consensus estimate of $11.26 billion. During the same quarter last year, the company earned $6.51 EPS. Travelers Companies's revenue was up .3% on a year-over-year basis. As a group, analysts anticipate that The Travelers Companies, Inc. will post 33.82 EPS 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 paid a $1.25 dividend. This represents a $5.00 annualized dividend and a dividend yield of 1.4%. The ex-dividend date is Thursday, September 10th. Travelers Companies's payout ratio is currently 13.39%.

Travelers Companies Profile

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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