Insider Selling: Travelers Companies (NYSE:TRV) EVP Sells $2,945,925.00 in Stock

Key Points

• Travelers EVP Michael Klein sold 7,500 shares at an average price of $392.79, generating approximately $2.95 million. His remaining stake fell 14.25% to 45,125 shares.
• Travelers shares rose 1.7% to $405.64, near their 12-month high of $407.87. The company recently exceeded quarterly earnings expectations, reporting $9.18 in EPS versus the $7.39 consensus and revenue of $12.41 billion.
• The insurer declared a quarterly dividend of $1.25 per share, equivalent to $5.00 annually and a 1.2% yield. Analysts maintain a consensus “Hold” rating with a $364.32 target price.

The Travelers Companies, Inc. (NYSE:TRV - Get Free Report) EVP Michael Klein sold 7,500 shares of the business's stock in a transaction on Tuesday, October 20th. The shares were sold at an average price of $392.79, for a total transaction of $2,945,925.00. Following the completion of the transaction, the executive vice president owned 45,125 shares in the company, valued at approximately $17,724,648.75. The trade was a 14.25% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

Travelers Companies Trading Up 1.7%

TRV traded up $6.69 during trading on Thursday, reaching $405.64. 1,917,976 shares of the stock traded hands, compared to its average volume of 1,650,090. The company has a quick ratio of 0.33, a current ratio of 0.33 and a debt-to-equity ratio of 0.34. The stock has a market capitalization of $83.14 billion, a PE ratio of 10.64, a P/E/G ratio of 2.80 and a beta of 0.43. The stock's 50-day moving average is $370.12 and its 200 day moving average is $339.95. The Travelers Companies, Inc. has a 12 month low of $264.25 and a 12 month high of $407.87.

Travelers Companies (NYSE:TRV - Get Free Report) last posted its quarterly earnings data on Friday, October 16th. The insurance provider reported $9.18 earnings per share for the quarter, topping the consensus estimate of $7.39 by $1.79. Travelers Companies had a return on equity of 26.19% and a net margin of 17.03%. The firm had revenue of $12.41 billion during the quarter, compared to analyst estimates of $11.36 billion. During the same period last year, the company posted $8.14 EPS. The business's quarterly revenue was down .5% on a year-over-year basis. Equities analysts anticipate that The Travelers Companies, Inc. will post 35.47 earnings per share for the current year.

Travelers Companies Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 31st. Investors of record on Thursday, December 10th will be paid a dividend of $1.25 per share. The ex-dividend date of this dividend is Thursday, December 10th. This represents a $5.00 annualized dividend and a yield of 1.2%. Travelers Companies's dividend payout ratio (DPR) is currently 13.11%.

Institutional Investors Weigh In On Travelers Companies

A number of hedge funds have recently added to or reduced their stakes in TRV. LifeSteps Financial Inc. acquired a new position in shares of Travelers Companies during the second quarter worth approximately $26,000. Kilter Group LLC bought a new position in shares of Travelers Companies in the 2nd quarter worth $26,000. HHM Wealth Advisors LLC lifted 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 purchasing an additional 51 shares in the last quarter. Whipplewood Advisors LLC acquired a new stake in Travelers Companies in the 1st quarter valued at $26,000. Finally, Delos Wealth Advisors LLC acquired a new stake in Travelers Companies in the 2nd quarter valued at $30,000. Institutional investors and hedge funds own 82.45% of the company's stock.

Analyst Ratings Changes

Several brokerages have issued reports on TRV. Piper Sandler boosted their price target on Travelers Companies to $340.00 and gave the company an "overweight" rating in a research note on Monday, July 13th. The Goldman Sachs Group downgraded shares of Travelers Companies from a "neutral" rating to a "sell" rating and set a $350.00 price objective for the company. in a research report on Monday, July 20th. Barclays lifted their price objective on shares of Travelers Companies from $295.00 to $318.00 and gave the company an "underweight" rating in a research note on Tuesday, July 21st. Weiss Ratings upgraded shares of Travelers Companies from a "buy (a)" rating to a "buy (a+)" rating in a research report on Friday, October 9th. Finally, Zacks Research lowered shares of Travelers Companies from a "strong-buy" rating to a "hold" rating in a research note on Friday, October 9th. Three equities research 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 assigned a Sell rating to the stock. According to data from MarketBeat, Travelers Companies has an average rating of "Hold" and a consensus target price of $364.32.

About Travelers Companies

Travelers Companies, Inc is a property and casualty insurance company that provides insurance products and related services to businesses, government entities and individuals. The company offers coverage for property damage, liability, workers' compensation, automobile accidents, cybersecurity risks and other exposures.

Travelers conducts its operations primarily through its Business Insurance, Bond & Specialty Insurance and Personal Insurance segments. Its products include commercial property and casualty policies, surety and fidelity bonds, homeowners insurance, personal automobile insurance and umbrella coverage.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.