NewEdge Wealth LLC Acquires 2,236 Shares of The Travelers Companies, Inc. $TRV

NewEdge Wealth LLC increased its holdings in shares of The Travelers Companies, Inc. (NYSE:TRV) by 14.3% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 17,832 shares of the insurance provider’s stock after purchasing an additional 2,236 shares during the quarter. NewEdge Wealth LLC’s holdings in Travelers Companies were worth $5,172,000 as of its most recent filing with the SEC.

A number of other large investors have also bought and sold shares of the business. Crossmark Global Holdings Inc. increased its stake in Travelers Companies by 17.0% during the 4th quarter. Crossmark Global Holdings Inc. now owns 9,659 shares of the insurance provider’s stock worth $2,802,000 after purchasing an additional 1,402 shares in the last quarter. Ethic Inc. increased its stake in Travelers Companies by 9.3% during the 4th quarter. Ethic Inc. now owns 49,798 shares of the insurance provider’s stock worth $14,444,000 after purchasing an additional 4,255 shares in the last quarter. Patten & Patten Inc. TN increased its stake in Travelers Companies by 26.1% during the 4th quarter. Patten & Patten Inc. TN now owns 1,523 shares of the insurance provider’s stock worth $442,000 after purchasing an additional 315 shares in the last quarter. Lighthouse Financial Services Inc. ADV bought a new stake in Travelers Companies during the 4th quarter worth approximately $2,778,000. Finally, Koshinski Asset Management Inc. increased its stake in Travelers Companies by 1.1% during the 4th quarter. Koshinski Asset Management Inc. now owns 29,465 shares of the insurance provider’s stock worth $8,547,000 after purchasing an additional 326 shares in the last quarter. 82.45% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Travelers Companies news, insider Avrohom J. Kess sold 6,735 shares of the firm’s stock in a transaction on Tuesday, April 28th. The stock was sold at an average price of $308.78, for a total transaction of $2,079,633.30. Following the completion of the sale, the insider owned 48,737 shares of the company’s stock, valued at $15,049,010.86. This trade represents a 12.14% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Diane Kurtzman sold 2,867 shares of the firm’s stock in a transaction on Monday, April 20th. The shares were sold at an average price of $303.45, for a total value of $869,991.15. Following the sale, the executive vice president directly owned 5,298 shares of the company’s stock, valued at $1,607,678.10. This represents a 35.11% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 27,573 shares of company stock worth $8,427,646 in the last quarter. 1.39% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. Cantor Fitzgerald increased their target price on Travelers Companies from $316.00 to $319.00 and gave the stock an “overweight” rating in a research note on Monday, February 2nd. Bank of America lowered their target price on Travelers Companies from $259.00 to $257.00 and set an “underperform” rating for the company in a research note on Tuesday, April 14th. Keefe, Bruyette & Woods raised their price target on shares of Travelers Companies from $340.00 to $342.00 and gave the stock an “outperform” rating in a research note on Monday, April 20th. Roth Mkm reaffirmed a “buy” rating on shares of Travelers Companies in a research note on Monday, April 20th. Finally, Barclays raised their price target on shares of Travelers Companies from $312.00 to $331.00 and gave the stock an “equal weight” rating in a research note on Wednesday, April 8th. Two investment analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating, ten have given a Hold rating and three have issued a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $309.13.

Travelers Companies Trading Down 0.3%

NYSE TRV opened at $297.07 on Tuesday. The company has a market cap of $63.17 billion, a PE ratio of 8.84, a PEG ratio of 2.68 and a beta of 0.50. The company has a current ratio of 0.35, a quick ratio of 0.35 and a debt-to-equity ratio of 0.29. The Travelers Companies, Inc. has a 12 month low of $249.19 and a 12 month high of $313.12. The stock has a 50 day moving average of $300.16 and a 200-day moving average of $290.92.

Travelers Companies (NYSE:TRV) last released its quarterly earnings data on Thursday, April 16th. The insurance provider reported $7.71 EPS for the quarter, beating the consensus estimate of $6.80 by $0.91. The company had revenue of $11.92 billion during the quarter, compared to the consensus estimate of $11.11 billion. Travelers Companies had a return on equity of 24.06% and a net margin of 15.54%.The firm’s revenue for the quarter was down 1.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.91 EPS. On average, equities research analysts anticipate that The Travelers Companies, Inc. will post 28.03 EPS for the current fiscal year.

Travelers Companies announced that its Board of Directors has initiated a stock repurchase plan on Wednesday, January 21st that allows the company to buyback $5.00 billion in shares. This buyback authorization allows the insurance provider to buy up to 8.3% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s board of directors believes its stock is undervalued.

Travelers Companies Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Wednesday, June 10th will be issued a $1.25 dividend. This represents a $5.00 annualized dividend and a dividend yield of 1.7%. The ex-dividend date of this dividend is Wednesday, June 10th. This is a boost from Travelers Companies’s previous quarterly dividend of $1.10. Travelers Companies’s payout ratio is currently 13.09%.

Travelers Companies 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.