The Travelers Companies, Inc. (NYSE:TRV) Stock Position Raised by Van ECK Associates Corp

Posted by MarketBeat News on May 15th, 2023

Van ECK Associates Corp lifted its holdings in The Travelers Companies, Inc. (NYSE:TRV – Get Rating) by 5.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,632 shares of the insurance provider’s stock after buying an additional 194 shares during the period. Van ECK Associates Corp’s holdings in Travelers Companies were worth $681,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Investment Management of Virginia LLC boosted its position in shares of Travelers Companies by 1.1% in the third quarter. Investment Management of Virginia LLC now owns 8,007 shares of the insurance provider’s stock worth $1,227,000 after buying an additional 90 shares during the period. Allworth Financial LP boosted its position in shares of Travelers Companies by 3.2% in the fourth quarter. Allworth Financial LP now owns 3,269 shares of the insurance provider’s stock worth $613,000 after buying an additional 101 shares during the period. Resources Investment Advisors LLC. boosted its position in shares of Travelers Companies by 3.1% in the third quarter. Resources Investment Advisors LLC. now owns 3,882 shares of the insurance provider’s stock worth $595,000 after buying an additional 116 shares during the period. Advisors Asset Management Inc. boosted its position in shares of Travelers Companies by 200.4% in the third quarter. Advisors Asset Management Inc. now owns 670 shares of the insurance provider’s stock worth $103,000 after buying an additional 447 shares during the period. Finally, Whittier Trust Co. of Nevada Inc. boosted its position in shares of Travelers Companies by 0.5% in the fourth quarter. Whittier Trust Co. of Nevada Inc. now owns 22,072 shares of the insurance provider’s stock worth $4,138,000 after buying an additional 99 shares during the period. Institutional investors and hedge funds own 81.59% of the company’s stock.

Travelers Companies Trading Down 0.4 %

Travelers Companies stock opened at $182.09 on Monday. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.33 and a current ratio of 0.33. The business’s 50-day simple moving average is $174.61 and its 200-day simple moving average is $182.24. The firm has a market capitalization of $42.06 billion, a PE ratio of 15.52, a PEG ratio of 1.37 and a beta of 0.60. The Travelers Companies, Inc. has a 52 week low of $149.65 and a 52 week high of $194.51.

Want More Great Investing Ideas?

Travelers Companies (NYSE:TRV – Get Rating) last posted its quarterly earnings data on Wednesday, April 19th. The insurance provider reported $4.11 EPS for the quarter, topping analysts’ consensus estimates of $3.64 by $0.47. Travelers Companies had a return on equity of 13.41% and a net margin of 7.41%. The business had revenue of $9.70 billion for the quarter, compared to analyst estimates of $8.98 billion. During the same period in the previous year, the company posted $4.22 earnings per share. The firm’s revenue for the quarter was up 10.2% on a year-over-year basis. Equities research analysts forecast that The Travelers Companies, Inc. will post 14.31 earnings per share for the current year.

Travelers Companies Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 30th. Investors of record on Friday, June 9th will be paid a dividend of $1.00 per share. This represents a $4.00 annualized dividend and a yield of 2.20%. This is a positive change from Travelers Companies’s previous quarterly dividend of $0.93. The ex-dividend date of this dividend is Thursday, June 8th. Travelers Companies’s payout ratio is currently 34.10%.

Travelers Companies announced that its board has authorized a share repurchase plan on Wednesday, April 19th that authorizes the company to buyback $5.00 billion in outstanding shares. This buyback authorization authorizes the insurance provider to purchase up to 12.2% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s management believes its shares are undervalued.

Analysts Set New Price Targets

A number of research firms recently issued reports on TRV. Roth Capital reissued a “buy” rating on shares of Travelers Companies in a research report on Friday, April 21st. StockNews.com raised Travelers Companies from a “hold” rating to a “buy” rating in a research report on Friday. Royal Bank of Canada lifted their price objective on Travelers Companies from $190.00 to $195.00 in a research report on Wednesday, January 25th. Jefferies Financial Group reduced their price objective on Travelers Companies from $188.00 to $182.00 and set a “hold” rating for the company in a research report on Monday, April 10th. Finally, JPMorgan Chase & Co. lifted their price objective on Travelers Companies from $180.00 to $185.00 and gave the company an “overweight” rating in a research report on Friday, March 31st. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Travelers Companies has an average rating of “Hold” and a consensus price target of $191.73.

Insider Activity at Travelers Companies

In related news, EVP Diane Kurtzman sold 2,914 shares of the business’s stock in a transaction dated Tuesday, February 14th. The stock was sold at an average price of $185.01, for a total transaction of $539,119.14. Following the transaction, the executive vice president now directly owns 1,735 shares in the company, valued at $320,992.35. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, EVP Diane Kurtzman sold 2,914 shares of the business’s stock in a transaction dated Tuesday, February 14th. The stock was sold at an average price of $185.01, for a total transaction of $539,119.14. Following the transaction, the executive vice president now directly owns 1,735 shares in the company, valued at $320,992.35. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Gregory C. Toczydlowski sold 5,420 shares of the business’s stock in a transaction dated Thursday, February 23rd. The shares were sold at an average price of $184.19, for a total value of $998,309.80. Following the transaction, the executive vice president now owns 18,416 shares in the company, valued at $3,392,043.04. The disclosure for this sale can be found here. Insiders have sold 67,468 shares of company stock worth $12,154,895 over the last three months. Company insiders own 1.29% of the company’s stock.

Travelers Companies Profile

(Get Rating)

The Travelers Cos., Inc is a holding company, which engages in the provision of commercial and personal property and casualty insurance products and services. It operates through the following business segments: Business Insurance, Bond and Specialty Insurance, and Personal Insurance. The Business Insurance segment provides an array of property and casualty insurance, and insurance related services to its customers primarily in the U.S., as well as in Canada, the United Kingdom, the Republic of Ireland and throughout other parts of the world as a corporate member of Lloyd’s.