AdvisorNet Financial Inc Trims Stock Position in The Travelers Companies, Inc. (NYSE:TRV)

AdvisorNet Financial Inc decreased its stake in The Travelers Companies, Inc. (NYSE:TRVGet Rating) by 20.0% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,385 shares of the insurance provider’s stock after selling 848 shares during the period. AdvisorNet Financial Inc’s holdings in Travelers Companies were worth $572,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of TRV. US Asset Management LLC acquired a new stake in shares of Travelers Companies during the first quarter worth about $28,000. Oliver Lagore Vanvalin Investment Group acquired a new position in Travelers Companies during the first quarter worth approximately $32,000. Addison Advisors LLC lifted its stake in Travelers Companies by 293.5% in the first quarter. Addison Advisors LLC now owns 181 shares of the insurance provider’s stock valued at $33,000 after buying an additional 135 shares during the last quarter. Kings Point Capital Management boosted its holdings in shares of Travelers Companies by 60.7% in the first quarter. Kings Point Capital Management now owns 180 shares of the insurance provider’s stock valued at $33,000 after acquiring an additional 68 shares during the period. Finally, Dividend Assets Capital LLC purchased a new position in shares of Travelers Companies during the fourth quarter worth approximately $35,000. 82.39% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. The Goldman Sachs Group cut shares of Travelers Companies from a “neutral” rating to a “sell” rating and decreased their price target for the stock from $190.00 to $170.00 in a research note on Friday, June 3rd. StockNews.com cut Travelers Companies from a “buy” rating to a “hold” rating in a research report on Tuesday, July 26th. Barclays decreased their price objective on Travelers Companies from $184.00 to $177.00 and set an “equal weight” rating for the company in a research report on Thursday, July 14th. Piper Sandler dropped their target price on Travelers Companies from $190.00 to $175.00 and set a “neutral” rating on the stock in a report on Friday, July 22nd. Finally, Royal Bank of Canada decreased their price target on Travelers Companies from $183.00 to $165.00 in a report on Friday, July 22nd. Two equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, one has given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Travelers Companies currently has an average rating of “Hold” and an average price target of $174.60.

Insider Activity

In related news, EVP Mojgan M. Lefebvre sold 2,945 shares of the business’s stock in a transaction dated Wednesday, August 24th. The shares were sold at an average price of $168.33, for a total value of $495,731.85. Following the sale, the executive vice president now directly owns 1,020 shares in the company, valued at approximately $171,696.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 1.07% of the company’s stock.

Travelers Companies Stock Down 1.1 %

Shares of NYSE TRV opened at $162.33 on Monday. The stock has a market capitalization of $38.52 billion, a price-to-earnings ratio of 11.27, a price-to-earnings-growth ratio of 2.97 and a beta of 0.61. The Travelers Companies, Inc. has a 52 week low of $145.40 and a 52 week high of $187.98. The firm has a 50-day moving average price of $163.26 and a 200 day moving average price of $170.77. The company has a quick ratio of 0.34, a current ratio of 0.34 and a debt-to-equity ratio of 0.32.

Travelers Companies (NYSE:TRVGet Rating) last posted its quarterly earnings results on Thursday, July 21st. The insurance provider reported $2.57 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.00 by $0.57. The company had revenue of $9.14 billion during the quarter, compared to the consensus estimate of $8.29 billion. Travelers Companies had a net margin of 9.97% and a return on equity of 13.64%. The company’s revenue for the quarter was up 5.2% on a year-over-year basis. During the same period last year, the firm earned $3.45 EPS. Equities research analysts anticipate that The Travelers Companies, Inc. will post 13.61 EPS for the current fiscal year.

Travelers Companies Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, September 30th. Shareholders of record on Friday, September 9th will be issued a $0.93 dividend. This represents a $3.72 annualized dividend and a yield of 2.29%. The ex-dividend date of this dividend is Thursday, September 8th. Travelers Companies’s dividend payout ratio (DPR) is 25.82%.

About Travelers Companies

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The Travelers Companies, Inc, through its subsidiaries, provides a range of commercial and personal property, and casualty insurance products and services to businesses, government units, associations, and individuals in the United states and internationally. The company operates through three segments: Business Insurance, Bond & Specialty Insurance, and Personal Insurance.

Further Reading

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Institutional Ownership by Quarter for Travelers Companies (NYSE:TRV)

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