Connor Clark & Lunn Investment Management Ltd. Takes $165.36 Million Position in The Travelers Companies, Inc. $TRV

Connor Clark & Lunn Investment Management Ltd. bought a new stake in The Travelers Companies, Inc. (NYSE:TRV) in the 2nd quarter, Holdings Channel reports. The firm bought 749,964 shares of the insurance provider’s stock, valued at approximately $165,360,000.

Other institutional investors have also added to or reduced their stakes in the company. BlackRock Inc. acquired a new stake in Travelers Companies in the second quarter valued at $6,915,909,000. Norges Bank bought a new position in shares of Travelers Companies in the 4th quarter valued at about $723,339,000. GQG Partners LLC acquired a new position in shares of Travelers Companies during the 2nd quarter worth about $789,024,000. Bank of New York Mellon Corp acquired a new position in shares of Travelers Companies during the 2nd quarter worth about $469,505,000. Finally, Deutsche Bank AG bought a new stake in shares of Travelers Companies in the 2nd quarter valued at about $301,772,000. 82.45% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Travelers Companies

In other news, EVP Diane Kurtzman sold 4,164 shares of the company’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 transaction, the executive vice president owned 5,298 shares of the company’s stock, valued at approximately $2,048,789.58. This represents a 44.01% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Michael Frederick Klein sold 6,000 shares of the 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 transaction, the executive vice president owned 45,125 shares in the company, valued at approximately $16,519,811.25. This trade represents a 11.74% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 62,667 shares of company stock valued at $22,688,329. Insiders own 1.39% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on TRV shares. Truist Financial raised their target price on shares of Travelers Companies from $395.00 to $425.00 and gave the company a “buy” rating in a research note on Monday, July 20th. Morgan Stanley boosted their price target on Travelers Companies from $290.00 to $330.00 and gave the stock an “underweight” rating in a research report on Tuesday, July 21st. Mizuho upped their price objective on Travelers Companies from $324.00 to $343.00 and gave the company a “neutral” rating in a research note on Friday, July 24th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating on shares of Travelers Companies in a research report on Tuesday, July 21st. Finally, Roth Capital lifted their target price on Travelers Companies from $345.00 to $425.00 and gave the stock a “buy” rating in a research note on Tuesday, July 21st. Four analysts have rated the stock with a Strong Buy rating, four have given a Buy rating, thirteen have given a Hold rating and five have issued a Sell rating to the company’s stock. According to MarketBeat, Travelers Companies currently has an average rating of “Hold” and an average target price of $354.26.

Travelers Companies Stock Performance

NYSE TRV opened at $363.83 on Monday. The firm has a 50-day moving average of $352.28 and a 200-day moving average of $318.35. 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 stock has a market cap of $75.89 billion, a PE ratio of 9.74, a P/E/G ratio of 3.46 and a beta of 0.45. The Travelers Companies, Inc. has a 52-week low of $252.26 and a 52-week high of $398.70.

Travelers Companies (NYSE:TRV) last announced 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. Travelers Companies had a net margin of 16.95% and a return on equity of 25.41%. The business had revenue of $12.15 billion during the quarter, compared to the consensus estimate of $11.26 billion. During the same quarter in the previous year, the firm posted $6.51 EPS. Travelers Companies’s revenue was up .3% compared to the same quarter last year. On average, sell-side analysts anticipate that The Travelers Companies, Inc. will post 33.82 EPS for the current year.

Travelers Companies Dividend Announcement

The company also recently disclosed 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 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date is Thursday, September 10th. Travelers Companies’s payout ratio is currently 13.39%.

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.