Tocqueville Asset Management L.P. Invests $1.54 Million in The Travelers Companies, Inc. $TRV

Key Points

• Tocqueville Asset Management initiated a $1.54 million position in Travelers Companies during the second quarter by purchasing 4,664 shares. Institutional investors collectively own 82.45% of the insurer’s stock.
• Travelers reported quarterly EPS of $10.04, well above the $5.41 consensus estimate, on revenue of $12.15 billion. Shares opened at $364.79, near their 12-month high of $398.70.
• Analysts maintain a generally neutral stance, with an average “Hold” rating and $354.26 price target. The company also declared a quarterly dividend of $1.25 per share, equal to a 1.4% annualized yield.

Tocqueville Asset Management L.P. bought a new position in The Travelers Companies, Inc. (NYSE:TRV - Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 4,664 shares of the insurance provider's stock, valued at approximately $1,540,000.

A number of other institutional investors have also recently bought and sold shares of the stock. Vanguard Group Inc. raised its stake in Travelers Companies by 0.5% during the fourth quarter. Vanguard Group Inc. now owns 22,109,933 shares of the insurance provider's stock worth $6,413,207,000 after purchasing an additional 110,311 shares during the period. BlackRock Inc. purchased a new stake in shares of Travelers Companies during the 2nd quarter valued at $6,915,909,000. State Street Corp grew its stake in shares of Travelers Companies by 3.1% during the 4th quarter. State Street Corp now owns 16,000,457 shares of the insurance provider's stock valued at $4,641,093,000 after buying an additional 486,861 shares during the period. Morgan Stanley increased its holdings in shares of Travelers Companies by 2.3% during the 4th quarter. Morgan Stanley now owns 3,793,750 shares of the insurance provider's stock worth $1,100,416,000 after buying an additional 85,298 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its holdings in shares of Travelers Companies by 3.7% during the 1st quarter. Dimensional Fund Advisors LP now owns 3,484,676 shares of the insurance provider's stock worth $1,016,433,000 after buying an additional 123,564 shares during the last quarter. 82.45% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Travelers Companies

In related news, EVP Daniel Tei-Hwa Yin sold 7,153 shares of the business'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 transaction, the executive vice president directly owned 68,834 shares of the company's stock, valued at approximately $26,638,758. The trade was a 9.41% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Michael Frederick Klein sold 6,000 shares of the company's stock in a transaction that occurred on Tuesday, July 21st. The stock was sold at an average price of $366.09, for a total value of $2,196,540.00. Following the completion of the transaction, the executive vice president owned 45,125 shares of the company's stock, valued at approximately $16,519,811.25. This represents a 11.74% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 62,667 shares of company stock worth $22,688,329. Insiders own 1.39% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have issued reports on TRV shares. Wells Fargo & Company boosted their price target on Travelers Companies from $295.00 to $334.00 and gave the company an "equal weight" rating in a research report on Thursday, July 9th. Barclays raised their price objective on Travelers Companies from $295.00 to $318.00 and gave the stock an "underweight" rating in a report on Tuesday, July 21st. Morgan Stanley lifted their price objective on Travelers Companies from $290.00 to $330.00 and gave the company an "underweight" rating in a research note on Tuesday, July 21st. Citigroup reiterated a "market perform" rating on shares of Travelers Companies in a report on Monday, July 20th. Finally, UBS Group increased their target price on shares of Travelers Companies from $314.00 to $350.00 and gave the stock a "neutral" rating in a research report on Wednesday, July 8th. Four investment analysts have rated the stock with a Strong Buy rating, four have given a Buy rating, thirteen have issued a Hold rating and five have issued a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $354.26.

Travelers Companies Stock Up 0.7%

Shares of Travelers Companies stock opened at $364.79 on Friday. The company has a fifty day moving average price of $351.09 and a 200 day moving average price of $317.80. The company has a current ratio of 0.33, a quick ratio of 0.33 and a debt-to-equity ratio of 0.27. The Travelers Companies, Inc. has a twelve month low of $252.26 and a twelve month high of $398.70. The stock has a market cap of $76.09 billion, a price-to-earnings ratio of 9.77, a price-to-earnings-growth ratio of 3.44 and a beta of 0.45.

Travelers Companies (NYSE:TRV - Get Free Report) last released its quarterly earnings data on Friday, July 17th. The insurance provider reported $10.04 EPS for the quarter, beating the consensus estimate of $5.41 by $4.63. The company had revenue of $12.15 billion for the quarter, compared to analyst estimates of $11.26 billion. Travelers Companies had a return on equity of 25.41% and a net margin of 16.95%.The firm's revenue was up .3% compared to the same quarter last year. During the same period last year, the company posted $6.51 earnings per share. Equities research analysts forecast that The Travelers Companies, Inc. will post 33.82 earnings per share for the current fiscal year.

Travelers Companies Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Thursday, September 10th will be issued a dividend of $1.25 per share. 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 dividend payout ratio (DPR) is presently 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 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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