Fifth Third Bancorp Raises Holdings in The Travelers Companies, Inc. $TRV

Fifth Third Bancorp boosted its position in shares of The Travelers Companies, Inc. (NYSE:TRV) by 1.4% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 17,666 shares of the insurance provider’s stock after buying an additional 250 shares during the period. Fifth Third Bancorp’s holdings in Travelers Companies were worth $4,726,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the business. Cornerstone Planning Group LLC boosted its holdings in shares of Travelers Companies by 700.0% in the first quarter. Cornerstone Planning Group LLC now owns 96 shares of the insurance provider’s stock valued at $25,000 after acquiring an additional 84 shares in the last quarter. Greykasell Wealth Strategies Inc. acquired a new position in shares of Travelers Companies during the 1st quarter worth $26,000. Ameriflex Group Inc. acquired a new stake in shares of Travelers Companies in the fourth quarter valued at approximately $26,000. Nova Wealth Management Inc. acquired a new stake in Travelers Companies during the 2nd quarter valued at $32,000. Finally, Flaharty Asset Management LLC purchased a new stake in Travelers Companies during the 1st quarter worth about $32,000. Institutional investors and hedge funds own 82.45% of the company’s stock.

Travelers Companies Trading Down 0.9%

NYSE:TRV opened at $274.24 on Friday. The stock has a market cap of $61.74 billion, a price-to-earnings ratio of 12.13, a PEG ratio of 3.18 and a beta of 0.53. 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 business has a fifty day moving average of $269.76 and a 200-day moving average of $264.58. The Travelers Companies, Inc. has a 1 year low of $224.62 and a 1 year high of $280.70.

Travelers Companies (NYSE:TRV) last issued its quarterly earnings results on Thursday, July 17th. The insurance provider reported $6.51 earnings per share for the quarter, topping analysts’ consensus estimates of $3.52 by $2.99. Travelers Companies had a net margin of 10.97% and a return on equity of 18.68%. The company had revenue of $11.54 billion during the quarter, compared to analyst estimates of $11.02 billion. During the same period in the prior year, the business posted $2.51 EPS. The business’s revenue for the quarter was up 7.4% compared to the same quarter last year. Equities analysts predict that The Travelers Companies, Inc. will post 17.02 earnings per share for the current year.

Travelers Companies Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Wednesday, September 10th will be given a $1.10 dividend. The ex-dividend date is Wednesday, September 10th. This represents a $4.40 annualized dividend and a yield of 1.6%. Travelers Companies’s payout ratio is 19.46%.

Insider Buying and Selling

In related news, EVP Mojgan M. Lefebvre sold 16,820 shares of the stock in a transaction on Friday, August 22nd. The stock was sold at an average price of $277.54, for a total value of $4,668,222.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Gregory C. Toczydlowski sold 11,505 shares of the firm’s stock in a transaction dated Monday, July 21st. The stock was sold at an average price of $266.12, for a total transaction of $3,061,710.60. Following the completion of the transaction, the executive vice president owned 18,416 shares of the company’s stock, valued at approximately $4,900,865.92. The trade was a 38.45% decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.46% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on TRV shares. Wall Street Zen cut Travelers Companies from a “buy” rating to a “hold” rating in a report on Saturday, August 9th. Cantor Fitzgerald raised Travelers Companies to a “strong-buy” rating in a research report on Wednesday, August 13th. Keefe, Bruyette & Woods lifted their price objective on shares of Travelers Companies from $304.00 to $316.00 and gave the company an “outperform” rating in a research note on Friday, July 18th. Wolfe Research began coverage on Travelers Companies in a research note on Monday, September 15th. They issued a “peer perform” rating on the stock. Finally, Wells Fargo & Company increased their price objective on shares of Travelers Companies from $264.00 to $275.00 and gave the company an “equal weight” rating in a research note on Friday, July 18th. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, eleven have assigned a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $284.56.

About Travelers Companies

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.