Veratis Advisors Inc. Invests $891,000 in The Travelers Companies, Inc. $TRV

Key Points

• Veratis Advisors purchased 4,042 Travelers shares worth approximately $891,000, making TRV its 19th-largest holding and about 0.6% of its portfolio. Institutional investors collectively own 82.45% of the stock.
• Travelers reported quarterly EPS of $10.04, well above the $5.41 consensus estimate, on revenue of $12.15 billion. The company also declared a $1.25 quarterly dividend, equivalent to a 1.3% yield.
• Analyst sentiment remains mixed, with a consensus “Hold” rating and a $354.26 price target, while company insiders sold 52,667 shares worth approximately $19.6 million over the past 90 days.

Veratis Advisors Inc. bought a new stake in shares of The Travelers Companies, Inc. (NYSE:TRV - Free Report) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 4,042 shares of the insurance provider's stock, valued at approximately $891,000. Travelers Companies makes up approximately 0.6% of Veratis Advisors Inc.'s investment portfolio, making the stock its 19th largest position.

A number of other hedge funds have also recently made changes to their positions in the stock. Peak Asset Management LLC purchased a new stake in Travelers Companies in the second quarter valued at about $617,000. Fiduciary Financial Advisors purchased a new position in shares of Travelers Companies during the 2nd quarter valued at approximately $79,000. Manning & Napier Advisors LLC acquired a new position in shares of Travelers Companies in the second quarter worth about $7,998,000. Hyperion Capital Advisors LP acquired a new position in Travelers Companies in the 2nd quarter worth about $287,000. Finally, L2 Asset Management LLC purchased a new position in shares of Travelers Companies during the 2nd quarter valued at approximately $399,000. 82.45% of the stock is currently owned by hedge funds and other institutional investors.

Travelers Companies Stock Up 1.9%

TRV opened at $370.65 on Tuesday. 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 $353.55 and its two-hundred day moving average is $318.93. The Travelers Companies, Inc. has a one year low of $252.26 and a one year high of $398.70. The company has a market cap of $77.31 billion, a price-to-earnings ratio of 9.93, a PEG ratio of 3.46 and a beta of 0.45.

Travelers Companies (NYSE:TRV - Get Free Report) last released 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. The firm had revenue of $12.15 billion during the quarter, compared to analysts' expectations of $11.26 billion. Travelers Companies had a net margin of 16.95% and a return on equity of 25.41%. Travelers Companies's revenue for the quarter was up .3% on a year-over-year basis. During the same period in the previous year, the company earned $6.51 EPS. Analysts anticipate that The Travelers Companies, Inc. will post 33.82 EPS 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. Investors of record on Thursday, September 10th will be issued a $1.25 dividend. This represents a $5.00 annualized dividend and a yield of 1.3%. The ex-dividend date of this dividend is Thursday, September 10th. Travelers Companies's payout ratio is currently 13.39%.

Analyst Ratings Changes

Several analysts recently commented on TRV shares. Deutsche Bank Aktiengesellschaft reissued a "hold" rating on shares of Travelers Companies in a research note on Tuesday, July 21st. Piper Sandler upped their price target on Travelers Companies to $340.00 and gave the company an "overweight" rating in a research note on Monday, July 13th. UBS Group lifted their target price on shares of Travelers Companies from $314.00 to $350.00 and gave the company a "neutral" rating in a report on Wednesday, July 8th. Mizuho increased their price target on shares of Travelers Companies from $324.00 to $343.00 and gave the stock a "neutral" rating in a research report on Friday, July 24th. Finally, Cantor Fitzgerald increased their price objective on shares of Travelers Companies from $335.00 to $360.00 and gave the company an "overweight" rating in a research report on Thursday, July 9th. Four analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating, thirteen have issued a Hold rating and five have assigned a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $354.26.

Insider Activity at Travelers Companies

In other news, CFO Daniel S. Frey sold 14,037 shares of the stock in a transaction on Tuesday, July 21st. The stock was sold at an average price of $368.24, for a total value of $5,168,984.88. Following the completion of the transaction, the chief financial officer owned 27,535 shares of the company's stock, valued at approximately $10,139,488.40. This represents a 33.77% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Diane Kurtzman sold 4,164 shares of the business's stock in a transaction that occurred on Friday, July 24th. The stock was sold at an average price of $386.71, for a total value of $1,610,260.44. Following the sale, the executive vice president directly owned 5,298 shares in the company, valued at approximately $2,048,789.58. The trade was a 44.01% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 52,667 shares of company stock valued at $19,611,829 in the last ninety days. 1.39% of the stock is owned by insiders.

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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