The Travelers Companies, Inc. $TRV Stock Position Increased by Assenagon Asset Management S.A.

Key Points

• Assenagon Asset Management S.A. increased its Travelers Companies stake by 200.2% in the first quarter, ending with 169,574 shares valued at about $49.5 million.
• Travelers reported strong quarterly results, with EPS of $7.71 beating estimates by $0.91 and revenue of $11.92 billion topping expectations.
• The company raised its quarterly dividend to $1.25 per share from $1.10, while analysts currently rate the stock a consensus Hold with an average price target of $309.07.

Assenagon Asset Management S.A. boosted its position in shares of The Travelers Companies, Inc. (NYSE:TRV - Free Report) by 200.2% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 169,574 shares of the insurance provider's stock after buying an additional 113,082 shares during the quarter. Assenagon Asset Management S.A. owned 0.08% of Travelers Companies worth $49,461,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of TRV. HHM Wealth Advisors LLC grew its holdings in shares of Travelers Companies by 145.7% in the 1st quarter. HHM Wealth Advisors LLC now owns 86 shares of the insurance provider's stock worth $25,000 after acquiring an additional 51 shares during the last quarter. Osterweis Capital Management Inc. boosted its position in shares of Travelers Companies by 1,820.0% in the 2nd quarter. Osterweis Capital Management Inc. now owns 96 shares of the insurance provider's stock valued at $26,000 after purchasing an additional 91 shares during the period. Kemnay Advisory Services Inc. acquired a new position in shares of Travelers Companies in the 4th quarter valued at $26,000. Kohmann Bosshard Financial Services LLC purchased a new position in Travelers Companies in the 4th quarter worth about $28,000. Finally, Entrust Financial LLC acquired a new stake in Travelers Companies during the 4th quarter worth about $31,000. 82.45% of the stock is owned by institutional investors and hedge funds.

Travelers Companies Stock Performance

Shares of TRV stock opened at $318.46 on Friday. The Travelers Companies, Inc. has a fifty-two week low of $249.19 and a fifty-two week high of $325.89. The stock's 50-day moving average is $302.68 and its two-hundred day moving average is $295.95. The company has a debt-to-equity ratio of 0.29, a current ratio of 0.35 and a quick ratio of 0.35. The firm has a market cap of $67.72 billion, a P/E ratio of 9.48, a PEG ratio of 2.89 and a beta of 0.48.

Travelers Companies (NYSE:TRV - Get Free Report) last posted its earnings results on Thursday, April 16th. The insurance provider reported $7.71 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $6.80 by $0.91. The firm had revenue of $11.92 billion during the quarter, compared to analysts' expectations of $11.11 billion. Travelers Companies had a net margin of 15.54% and a return on equity of 24.06%. The company's revenue was down 1.7% compared to the same quarter last year. During the same period in the previous year, the company earned $1.91 earnings per share. Analysts predict that The Travelers Companies, Inc. will post 28 earnings per share for the current fiscal year.

Travelers Companies Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Wednesday, June 10th will be given a dividend of $1.25 per share. The ex-dividend date of this dividend is Wednesday, June 10th. This is a positive change from Travelers Companies's previous quarterly dividend of $1.10. This represents a $5.00 annualized dividend and a yield of 1.6%. Travelers Companies's dividend payout ratio (DPR) is currently 14.88%.

Analyst Upgrades and Downgrades

Several research analysts have commented on TRV shares. Brean Capital assumed coverage on shares of Travelers Companies in a report on Thursday, March 12th. They issued a "neutral" rating for the company. JPMorgan Chase & Co. upgraded shares of Travelers Companies from an "underweight" rating to a "neutral" rating and upped their price target for the company from $316.00 to $322.00 in a research report on Tuesday, May 26th. Roth Mkm reaffirmed a "buy" rating on shares of Travelers Companies in a research note on Monday, April 20th. Barclays downgraded shares of Travelers Companies from an "equal weight" rating to an "underweight" rating and cut their target price for the company from $331.00 to $295.00 in a research note on Friday, June 12th. Finally, Piper Sandler raised their target price on Travelers Companies from $329.00 to $340.00 and gave the stock an "overweight" rating in a research report on Tuesday, May 26th. Two research analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating, ten have issued a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat, the company has an average rating of "Hold" and a consensus price target of $309.07.

Insider Activity at Travelers Companies

In other Travelers Companies news, EVP Michael Frederick Klein sold 10,000 shares of the business's stock in a transaction dated 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 owned 45,125 shares of the company's stock, valued at $13,882,706.25. The trade was a 18.14% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Jeffrey P. Klenk sold 6,414 shares of the stock in a transaction dated Monday, April 20th. The shares were sold at an average price of $305.06, for a total value of $1,956,654.84. Following the transaction, the executive vice president directly owned 6,075 shares in the company, valued at approximately $1,853,239.50. This represents a 51.36% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 37,573 shares of company stock valued at $11,504,146. Insiders own 1.39% of the company's stock.

Travelers Companies Company 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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