Van ECK Associates Corp Makes New $11.24 Million Investment in The Travelers Companies, Inc. $TRV

Van ECK Associates Corp bought a new stake in The Travelers Companies, Inc. (NYSE:TRV) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 34,056 shares of the insurance provider’s stock, valued at approximately $11,243,000.

Several other hedge funds have also made changes to their positions in TRV. Hsbc Holdings PLC increased its holdings in shares of Travelers Companies by 8.8% during the 2nd quarter. Hsbc Holdings PLC now owns 807,548 shares of the insurance provider’s stock worth $267,132,000 after buying an additional 65,548 shares during the last quarter. Wellington Management Group LLP lifted its holdings in Travelers Companies by 9.7% in the second quarter. Wellington Management Group LLP now owns 19,038 shares of the insurance provider’s stock valued at $6,285,000 after acquiring an additional 1,683 shares during the last quarter. Kingsview Wealth Management LLC purchased a new position in Travelers Companies in the second quarter worth approximately $4,564,000. Beacon Pointe Advisors LLC purchased a new position in Travelers Companies in the second quarter worth approximately $7,718,000. Finally, Kimelman & Baird LLC acquired a new stake in Travelers Companies during the second quarter worth $2,811,000. Hedge funds and other institutional investors own 82.45% of the company’s stock.

Travelers Companies Trading Down 1.0%

TRV opened at $366.31 on Tuesday. The Travelers Companies, Inc. has a 52 week low of $252.26 and a 52 week high of $398.70. The company has a quick ratio of 0.33, a current ratio of 0.33 and a debt-to-equity ratio of 0.27. The business has a fifty day simple moving average of $359.66 and a 200-day simple moving average of $321.44. The firm has a market cap of $76.40 billion, a P/E ratio of 9.81, a P/E/G ratio of 3.52 and a beta of 0.45.

Travelers Companies (NYSE:TRV) last posted its quarterly earnings data on Friday, July 17th. The insurance provider reported $10.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.41 by $4.63. Travelers Companies had a return on equity of 25.41% and a net margin of 16.95%.The firm had revenue of $12.15 billion for the quarter, compared to the consensus estimate of $11.26 billion. During the same quarter in the previous year, the business earned $6.51 EPS. The company’s quarterly revenue was up .3% compared to the same quarter last year. On average, equities analysts expect that The Travelers Companies, Inc. will post 33.82 earnings per share for the current year.

Travelers Companies Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Thursday, September 10th will be paid a dividend of $1.25 per share. The ex-dividend date is Thursday, September 10th. This represents a $5.00 dividend on an annualized basis and a yield of 1.4%. Travelers Companies’s dividend payout ratio is 13.39%.

Insider Buying and Selling at Travelers Companies

In related news, EVP David Donnay Rowland sold 5,000 shares of Travelers Companies stock in a transaction that occurred on Wednesday, July 22nd. The shares were sold at an average price of $371.69, for a total value of $1,858,450.00. Following the completion of the transaction, the executive vice president owned 10,479 shares in the company, valued at approximately $3,894,939.51. The trade was a 32.30% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Maria Olivo sold 6,000 shares of the company’s stock in a transaction that occurred on Friday, August 28th. The stock was sold at an average price of $369.86, for a total transaction of $2,219,160.00. Following the sale, the executive vice president directly owned 118,742 shares in the company, valued at approximately $43,917,916.12. The trade was a 4.81% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 58,667 shares of company stock valued at $21,830,989. Corporate insiders own 1.39% of the company’s stock.

Wall Street Analysts Forecast Growth

TRV has been the topic of several recent analyst reports. HSBC upped their price target on Travelers Companies from $321.00 to $351.00 and gave the company a “hold” rating in a research note on Monday, July 6th. Raymond James Financial set a $430.00 price objective on shares of Travelers Companies in a report on Monday, July 20th. Morgan Stanley upped their target price on shares of Travelers Companies from $290.00 to $330.00 and gave the company an “underweight” rating in a research report on Tuesday, July 21st. Weiss Ratings raised shares of Travelers Companies from a “buy (a-)” rating to a “buy (a)” rating in a research note on Thursday, August 20th. Finally, Truist Financial lifted their price target on shares of Travelers Companies from $395.00 to $425.00 and gave the company a “buy” rating in a research report on Monday, July 20th. Four analysts have rated the stock with a Strong Buy rating, four have given a Buy rating, thirteen have issued a Hold rating and five have assigned a Sell rating to the company. Based on data from MarketBeat.com, Travelers Companies currently has a consensus rating of “Hold” and an average target price of $354.26.

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.