Clare Market Investments LLC Makes New Investment in The Travelers Companies, Inc. $TRV

Clare Market Investments LLC purchased a new stake in The Travelers Companies, Inc. (NYSE:TRV) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 4,736 shares of the insurance provider’s stock, valued at approximately $1,381,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Brighton Jones LLC raised its stake in shares of Travelers Companies by 13.4% in the 4th quarter. Brighton Jones LLC now owns 3,277 shares of the insurance provider’s stock valued at $789,000 after purchasing an additional 387 shares during the period. Revolve Wealth Partners LLC acquired a new position in shares of Travelers Companies during the fourth quarter worth about $276,000. WINTON GROUP Ltd acquired a new position in shares of Travelers Companies during the second quarter worth about $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 worth $18,336,000 after buying an additional 8,383 shares in the last quarter. Finally, Treasurer of the State of North Carolina raised its position in Travelers Companies by 2.0% in the 2nd 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 buying an additional 2,117 shares during the last quarter. Institutional investors and hedge funds own 82.45% of the company’s stock.

Insider Activity

In other news, Vice Chairman William H. Heyman sold 1,557 shares of the business’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 directly owned 259,590 shares in the company, valued at $80,639,037.60. The trade was a 0.60% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Jeffrey P. Klenk sold 6,414 shares of the company’s stock in a transaction dated Monday, April 20th. The shares were sold at an average price of $305.06, for a total transaction of $1,956,654.84. Following the completion of the sale, the executive vice president directly owned 6,075 shares in the company, valued at approximately $1,853,239.50. The trade was a 51.36% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders sold 37,573 shares of company stock valued at $11,504,146. 1.39% of the stock is owned by corporate insiders.

Analyst Ratings Changes

TRV has been the topic of several research reports. Morgan Stanley boosted their target price on Travelers Companies from $310.00 to $330.00 and gave the company an “equal weight” rating in a research note on Monday. Keefe, Bruyette & Woods lifted their price objective on shares of Travelers Companies from $340.00 to $342.00 and gave the company an “outperform” rating in a report on Monday, April 20th. JPMorgan Chase & Co. upgraded shares of Travelers Companies from an “underweight” rating to a “neutral” rating and increased their target price for the stock from $316.00 to $322.00 in a report on Tuesday, May 26th. Brean Capital initiated coverage on shares of Travelers Companies in a research report on Thursday, March 12th. They issued a “neutral” rating for the company. Finally, Barclays lowered shares of Travelers Companies from an “equal weight” rating to an “underweight” rating and lowered their price target for the company from $331.00 to $295.00 in a research note on Friday, June 12th. Three research analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating, eleven have given a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $318.94.

Travelers Companies Stock Up 1.8%

TRV stock opened at $345.38 on Tuesday. The company has a market cap of $73.44 billion, a price-to-earnings ratio of 10.28, a P/E/G ratio of 3.09 and a beta of 0.46. The Travelers Companies, Inc. has a twelve month low of $249.19 and a twelve month high of $343.45. The business has a 50 day moving average price of $306.77 and a two-hundred day moving average price of $298.14. The company has a quick ratio of 0.35, a current ratio of 0.35 and a debt-to-equity ratio of 0.29.

Travelers Companies (NYSE:TRV) last announced its quarterly earnings data on Thursday, April 16th. The insurance provider reported $7.71 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $6.80 by $0.91. The company had revenue of $11.92 billion for the quarter, compared to analysts’ expectations of $11.11 billion. Travelers Companies had a return on equity of 24.06% and a net margin of 15.54%.The business’s revenue was down 1.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.91 EPS. Analysts anticipate that The Travelers Companies, Inc. will post 28 EPS for the current fiscal year.

Travelers Companies Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Wednesday, June 10th were given a dividend of $1.25 per share. This represents a $5.00 annualized dividend and a yield of 1.4%. This is an increase from Travelers Companies’s previous quarterly dividend of $1.10. The ex-dividend date of this dividend was Wednesday, June 10th. Travelers Companies’s payout ratio is currently 14.88%.

About Travelers Companies

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.