Great Lakes Advisors LLC Invests $109.76 Million in The Travelers Companies, Inc. $TRV

Great Lakes Advisors LLC purchased a new stake in The Travelers Companies, Inc. (NYSE:TRV) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 497,787 shares of the insurance provider’s stock, valued at approximately $109,757,000.

Other hedge funds have also added to or reduced their stakes in the company. Brighton Jones LLC raised its stake in shares of Travelers Companies by 13.4% in the fourth quarter. Brighton Jones LLC now owns 3,277 shares of the insurance provider’s stock worth $789,000 after purchasing an additional 387 shares during the last quarter. Revolve Wealth Partners LLC purchased a new position in shares of Travelers Companies during the fourth quarter valued at approximately $276,000. WINTON GROUP Ltd bought a new stake in Travelers Companies during the second quarter worth $382,000. CIBC Asset Management Inc grew its holdings in Travelers Companies by 13.9% during the second quarter. CIBC Asset Management Inc now owns 68,537 shares of the insurance provider’s stock worth $18,336,000 after buying an additional 8,383 shares in the last quarter. Finally, Treasurer of the State of North Carolina raised its position in Travelers Companies by 2.0% in the 2nd quarter. Treasurer of the State of North Carolina now owns 105,605 shares of the insurance provider’s stock valued at $28,254,000 after buying an additional 2,117 shares during the last quarter. Institutional investors and hedge funds own 82.45% of the company’s stock.

Insider Activity

In other news, EVP David Donnay Rowland sold 5,000 shares of the firm’s stock in a transaction on Wednesday, July 22nd. The stock was 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 directly owned 10,479 shares of the company’s stock, valued at $3,894,939.51. This trade represents a 32.30% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Diane Kurtzman sold 4,164 shares of Travelers Companies stock in a transaction on Friday, July 24th. The shares were sold at an average price of $386.71, for a total value of $1,610,260.44. Following the completion of the transaction, the executive vice president owned 5,298 shares of the company’s stock, valued at approximately $2,048,789.58. This trade represents a 44.01% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, 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.

Wall Street Analyst Weigh In

TRV has been the topic of a number of analyst reports. Piper Sandler lifted their price objective on shares of Travelers Companies to $340.00 and gave the stock an “overweight” rating in a report on Monday, July 13th. UBS Group increased their target price on shares of Travelers Companies from $314.00 to $350.00 and gave the company a “neutral” rating in a report on Wednesday, July 8th. Wells Fargo & Company boosted their price target on shares of Travelers Companies from $295.00 to $334.00 and gave the stock an “equal weight” rating in a report on Thursday, July 9th. BMO Capital Markets lowered Travelers Companies from an “outperform” rating to a “market perform” rating and lifted their price target for the stock from $314.00 to $379.00 in a report on Tuesday, July 21st. Finally, Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $356.00 price objective (up from $342.00) on shares of Travelers Companies in a research report on Wednesday, July 8th. Four equities research analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating, thirteen have given a Hold rating and five have issued a Sell rating to the company’s stock. According to MarketBeat.com, Travelers Companies currently has an average rating of “Hold” and a consensus price target of $354.26.

Travelers Companies Stock Up 0.9%

TRV stock opened at $367.96 on Wednesday. The stock has a fifty day moving average of $348.71 and a 200-day moving average of $316.68. The Travelers Companies, Inc. has a fifty-two week low of $252.26 and a fifty-two week high of $398.70. The company has a market capitalization of $76.74 billion, a price-to-earnings ratio of 9.85, a PEG ratio of 3.52 and a beta of 0.45. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.33 and a current ratio of 0.33.

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

Travelers Companies Announces Dividend

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

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.