OFI Invest Asset Management Boosts Stock Holdings in The Travelers Companies, Inc. $TRV

OFI Invest Asset Management grew its holdings in The Travelers Companies, Inc. (NYSE:TRV) by 56.0% in the 2nd quarter, HoldingsChannel reports. The firm owned 4,036 shares of the insurance provider’s stock after buying an additional 1,448 shares during the quarter. OFI Invest Asset Management’s holdings in Travelers Companies were worth $1,283,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the business. Norges Bank purchased a new position in Travelers Companies during the fourth quarter valued at approximately $723,339,000. State Street Corp raised its stake in Travelers Companies by 3.1% in the fourth quarter. State Street Corp now owns 16,000,457 shares of the insurance provider’s stock worth $4,641,093,000 after buying an additional 486,861 shares in the last quarter. AustralianSuper Pty Ltd lifted its holdings in Travelers Companies by 102.0% during the fourth quarter. AustralianSuper Pty Ltd now owns 908,559 shares of the insurance provider’s stock worth $263,537,000 after buying an additional 458,746 shares during the period. Amundi lifted its holdings in Travelers Companies by 36.6% during the first quarter. Amundi now owns 1,392,468 shares of the insurance provider’s stock worth $406,155,000 after buying an additional 373,061 shares during the period. Finally, Woodline Partners LP bought a new stake in Travelers Companies during the 3rd quarter valued at $99,680,000. Hedge funds and other institutional investors own 82.45% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently issued reports on TRV shares. Bank of America lifted their price target on Travelers Companies from $283.00 to $307.00 and gave the company an “underperform” rating in a report on Monday, July 20th. The Goldman Sachs Group downgraded Travelers Companies from a “neutral” rating to a “sell” rating and set a $350.00 price objective on the stock. in a research report on Monday, July 20th. Truist Financial lifted their target price on Travelers Companies from $395.00 to $425.00 and gave the company a “buy” rating in a research note on Monday, July 20th. JPMorgan Chase & Co. upgraded shares of Travelers Companies from an “underweight” rating to a “neutral” rating and boosted their target price for the stock from $316.00 to $322.00 in a report on Tuesday, May 26th. Finally, Cantor Fitzgerald increased their price target on shares of Travelers Companies from $335.00 to $360.00 and gave the company an “overweight” rating in a research report on Thursday, July 9th. Four analysts have rated the stock with a Strong Buy rating, four have given a Buy rating, thirteen have given a Hold rating and five have issued a Sell rating to the company’s stock. According to data from MarketBeat, Travelers Companies has an average rating of “Hold” and an average price target of $354.26.

Insiders Place Their Bets

In other news, EVP Daniel Tei-Hwa Yin sold 7,153 shares of the business’s stock in a transaction dated Friday, July 24th. The stock was sold at an average price of $387.00, for a total transaction of $2,768,211.00. Following the sale, the executive vice president owned 68,834 shares in the company, valued at approximately $26,638,758. The trade was a 9.41% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Daniel S. Frey sold 14,037 shares of the company’s stock in a transaction dated Tuesday, July 21st. The shares were sold at an average price of $368.24, for a total transaction of $5,168,984.88. Following the transaction, the chief financial officer owned 27,535 shares in the company, valued at approximately $10,139,488.40. This trade represents a 33.77% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 62,667 shares of company stock valued at $22,688,329. 1.39% of the stock is currently owned by corporate insiders.

Travelers Companies Stock Performance

Shares of TRV stock opened at $370.32 on Friday. The business’s fifty day simple moving average is $344.64 and its 200-day simple moving average is $314.87. The company has a market cap of $77.24 billion, a PE ratio of 9.92, a PEG ratio of 3.52 and a beta of 0.45. The company has a current ratio of 0.33, a quick ratio of 0.33 and a debt-to-equity ratio of 0.27. The Travelers Companies, Inc. has a 12-month low of $252.26 and a 12-month high of $398.70.

Travelers Companies (NYSE:TRV) last posted its quarterly earnings data on Friday, July 17th. The insurance provider reported $10.04 earnings per share for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $11.26 billion. During the same quarter last year, the firm earned $6.51 EPS. The business’s quarterly revenue was up .3% on a year-over-year basis. Analysts expect that The Travelers Companies, Inc. will post 33.82 earnings per share for the current fiscal year.

Travelers Companies Dividend Announcement

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 $1.25 dividend. 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 (DPR) is 13.39%.

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.