NewEdge Wealth LLC Invests $4.64 Million in The Travelers Companies, Inc. $TRV

NewEdge Wealth LLC purchased a new position in The Travelers Companies, Inc. (NYSE:TRV) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 14,064 shares of the insurance provider’s stock, valued at approximately $4,643,000.

Other institutional investors also recently bought and sold shares of the company. Brighton Jones LLC raised its holdings in Travelers Companies by 13.4% in the fourth quarter. Brighton Jones LLC now owns 3,277 shares of the insurance provider’s stock worth $789,000 after buying an additional 387 shares during the last quarter. Revolve Wealth Partners LLC bought a new position in shares of Travelers Companies in the fourth quarter worth approximately $276,000. WINTON GROUP Ltd purchased a new stake in shares of Travelers Companies during the second quarter valued at approximately $382,000. CIBC Asset Management Inc grew its holdings in shares of Travelers Companies by 13.9% during the second quarter. CIBC Asset Management Inc now owns 68,537 shares of the insurance provider’s stock valued at $18,336,000 after buying an additional 8,383 shares during the last quarter. Finally, Treasurer of the State of North Carolina increased its position in shares of Travelers Companies by 2.0% during the second quarter. Treasurer of the State of North Carolina now owns 105,605 shares of the insurance provider’s stock valued at $28,254,000 after acquiring an additional 2,117 shares in the last quarter. 82.45% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, EVP Daniel Tei-Hwa Yin sold 7,153 shares of the firm’s stock in a transaction on Friday, July 24th. The stock was sold at an average price of $387.00, for a total value of $2,768,211.00. Following the transaction, the executive vice president directly owned 68,834 shares in the company, valued at $26,638,758. This trade represents a 9.41% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, EVP Michael Frederick Klein sold 10,000 shares of Travelers Companies stock in a transaction on 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 directly owned 45,125 shares of the company’s stock, valued at $13,882,706.25. The trade was a 18.14% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 62,667 shares of company stock worth $22,688,329. Insiders own 1.39% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on TRV shares. Truist Financial boosted their price objective on shares of Travelers Companies from $395.00 to $425.00 and gave the stock a “buy” rating in a report on Monday, July 20th. Weiss Ratings reiterated a “buy (a-)” rating on shares of Travelers Companies in a research note on Wednesday, August 5th. Seaport Research Partners set a $322.00 target price on Travelers Companies in a report on Tuesday, May 26th. Mizuho boosted their price target on Travelers Companies from $324.00 to $343.00 and gave the stock a “neutral” rating in a research note on Friday, July 24th. Finally, Citigroup reaffirmed a “market perform” rating on shares of Travelers Companies in a report on Monday, July 20th. Four equities research 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 company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $354.26.

Travelers Companies Stock Down 1.5%

TRV opened at $362.47 on Thursday. The company has a quick ratio of 0.33, a current ratio of 0.33 and a debt-to-equity ratio of 0.27. The firm has a 50 day moving average price of $349.88 and a 200-day moving average price of $317.23. 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 capitalization of $75.60 billion, a price-to-earnings ratio of 9.71, a PEG ratio of 3.50 and a beta of 0.45.

Travelers Companies (NYSE:TRV) last issued its earnings results 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. Travelers Companies had a net margin of 16.95% and a return on equity of 25.41%. The company had revenue of $12.15 billion for the quarter, compared to analysts’ expectations of $11.26 billion. During the same quarter last year, the company posted $6.51 earnings per share. The firm’s quarterly revenue was up .3% on a year-over-year basis. Equities research analysts forecast that The Travelers Companies, Inc. will post 33.82 earnings per share for the current 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 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 of this dividend is Thursday, September 10th. Travelers Companies’s dividend payout ratio 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.