Weiss Asset Management LP Takes $1.82 Million Position in The Travelers Companies, Inc. $TRV

Key Points

• Weiss Asset Management initiated a $1.82 million position in Travelers, buying 6,240 shares. Institutional investors own approximately 82.45% of the insurer.
• Travelers reported quarterly EPS of $10.04, significantly exceeding the $5.41 consensus estimate, while revenue reached $12.15 billion. The company also declared a quarterly dividend of $1.25 per share, equivalent to a 1.3% yield.
• TRV shares opened near a 52-week high at $387.42, but analyst sentiment remains mixed: the consensus rating is Hold with an average price target of $354.26, and company insiders have sold approximately $5.64 million of stock over the past three months.

Weiss Asset Management LP bought a new position in shares of The Travelers Companies, Inc. (NYSE:TRV - Free Report) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 6,240 shares of the insurance provider's stock, valued at approximately $1,820,000.

Several other large investors have also recently bought and sold shares of TRV. Vanguard Group Inc. lifted its holdings in shares of Travelers Companies by 0.5% in the 4th quarter. Vanguard Group Inc. now owns 22,109,933 shares of the insurance provider's stock valued at $6,413,207,000 after purchasing an additional 110,311 shares during the last quarter. State Street Corp boosted its holdings in shares of Travelers Companies by 3.1% in the fourth quarter. State Street Corp now owns 16,000,457 shares of the insurance provider's stock valued at $4,641,093,000 after acquiring an additional 486,861 shares in the last quarter. Morgan Stanley increased its stake in shares of Travelers Companies by 2.3% during the fourth quarter. Morgan Stanley now owns 3,793,750 shares of the insurance provider's stock worth $1,100,416,000 after acquiring an additional 85,298 shares during the period. Dimensional Fund Advisors LP lifted its position in Travelers Companies by 3.7% in the first quarter. Dimensional Fund Advisors LP now owns 3,484,676 shares of the insurance provider's stock valued at $1,016,433,000 after purchasing an additional 123,564 shares during the period. Finally, Norges Bank purchased a new stake in Travelers Companies in the 4th quarter valued at approximately $723,339,000. Hedge funds and other institutional investors own 82.45% of the company's stock.

Insider Buying and Selling

In related news, EVP Michael Frederick Klein sold 10,000 shares of the stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $307.65, for a total value of $3,076,500.00. Following 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 position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Vice Chairman William H. Heyman sold 1,557 shares of the firm's stock in a transaction dated Tuesday, April 28th. The shares were sold at an average price of $310.64, for a total transaction of $483,666.48. Following the transaction, the insider owned 259,590 shares of the company's stock, valued at $80,639,037.60. This trade represents a 0.60% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 18,292 shares of company stock worth $5,639,800 in the last three months. Corporate insiders own 1.39% of the company's stock.

Travelers Companies Stock Performance

TRV opened at $387.42 on Monday. The Travelers Companies, Inc. has a 1-year low of $252.26 and a 1-year high of $389.11. The stock has a market cap of $80.80 billion, a P/E ratio of 10.38, a P/E/G ratio of 3.83 and a beta of 0.46. The stock's 50 day simple moving average is $322.06 and its 200 day simple moving average is $304.59. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.33 and a quick ratio of 0.33.

Travelers Companies (NYSE:TRV - Get Free Report) last issued its quarterly earnings data on Friday, July 17th. The insurance provider reported $10.04 earnings per share (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 return on equity of 25.41% and a net margin of 16.95%.Travelers Companies's revenue was up .3% on a year-over-year basis. During the same period in the previous year, the firm posted $6.51 earnings per share. As a group, equities analysts anticipate that The Travelers Companies, Inc. will post 32.49 EPS for the current fiscal year.

Travelers Companies Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Thursday, September 10th will be paid a dividend of $1.25 per share. This represents a $5.00 annualized dividend and a dividend yield of 1.3%. The ex-dividend date of this dividend is Thursday, September 10th. Travelers Companies's payout ratio is 13.39%.

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)

Wall Street Analysts Forecast Growth

Several analysts have recently commented on TRV shares. Cantor Fitzgerald raised their price target on Travelers Companies from $335.00 to $360.00 and gave the company an "overweight" rating in a report on Thursday, July 9th. Piper Sandler upped their price objective on Travelers Companies to $340.00 and gave the stock an "overweight" rating in a report on Monday, July 13th. TD Cowen downgraded Travelers Companies from a "hold" rating to a "sell" rating and set a $297.00 target price for the company. in a report on Monday, July 13th. Citigroup reissued a "market perform" rating on shares of Travelers Companies in a report on Monday, July 20th. Finally, HSBC upped their price target on shares of Travelers Companies from $321.00 to $351.00 and gave the stock a "hold" rating in a research note on Monday, July 6th. Three 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 issued a Sell rating to the stock. According to MarketBeat, Travelers Companies presently has a consensus rating of "Hold" and an average target price of $354.26.

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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