Keebeck Wealth Management Invests $4.54 Million in The Travelers Companies, Inc. $TRV

Keebeck Wealth Management acquired a new position in shares of The Travelers Companies, Inc. (NYSE:TRV) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 20,611 shares of the insurance provider’s stock, valued at approximately $4,545,000.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Brighton Jones LLC boosted its holdings in Travelers Companies by 13.4% during the fourth quarter. Brighton Jones LLC now owns 3,277 shares of the insurance provider’s stock worth $789,000 after buying an additional 387 shares during the last quarter. Revolve Wealth Partners LLC acquired a new position in shares of Travelers Companies during the 4th quarter worth about $276,000. WINTON GROUP Ltd bought a new stake in shares of Travelers Companies in the 2nd quarter valued at about $382,000. CIBC Asset Management Inc increased its stake in shares of Travelers Companies by 13.9% in the 2nd quarter. CIBC Asset Management Inc now owns 68,537 shares of the insurance provider’s stock valued at $18,336,000 after acquiring an additional 8,383 shares during the last quarter. Finally, Treasurer of the State of North Carolina raised its position in shares of 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 acquiring an additional 2,117 shares during the period. Institutional investors own 82.45% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently issued reports on TRV shares. Zacks Research upgraded shares of Travelers Companies from a “hold” rating to a “strong-buy” rating in a report on Wednesday, July 29th. JPMorgan Chase & Co. upgraded shares of Travelers Companies from an “underweight” rating to a “neutral” rating and increased their target price for the stock from $316.00 to $322.00 in a report on Tuesday, May 26th. UBS Group boosted their price target 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. The Goldman Sachs Group cut shares of Travelers Companies from a “neutral” rating to a “sell” rating and set a $350.00 price objective for the company. in a research report on Monday, July 20th. Finally, Raymond James Financial set a $430.00 price objective on Travelers Companies in a research note on Monday, July 20th. Four research analysts have rated the stock with a Strong Buy rating, four have given a Buy rating, thirteen have assigned a Hold rating and five have issued a Sell rating to the company. According to MarketBeat.com, Travelers Companies has a consensus rating of “Hold” and a consensus target price of $354.26.

Travelers Companies Stock Performance

Shares of TRV opened at $363.83 on Friday. 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 Travelers Companies, Inc. has a twelve month low of $252.26 and a twelve month high of $398.70. The firm’s 50 day moving average price is $352.28 and its two-hundred day moving average price is $318.12. The firm has a market cap of $75.88 billion, a P/E ratio of 9.74, a PEG ratio of 3.46 and a beta of 0.45.

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

Travelers Companies Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Thursday, September 10th will be paid a $1.25 dividend. 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 dividend payout ratio is presently 13.39%.

Insider Activity

In other news, CFO Daniel S. Frey sold 14,037 shares of the business’s stock in a transaction dated Tuesday, July 21st. The stock was sold at an average price of $368.24, for a total value of $5,168,984.88. Following the sale, the chief financial officer directly owned 27,535 shares in the company, valued at $10,139,488.40. The trade was a 33.77% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Michael Frederick Klein sold 10,000 shares of the company’s stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $307.65, for a total value of $3,076,500.00. Following the transaction, the executive vice president directly owned 45,125 shares of the company’s stock, valued at $13,882,706.25. This represents a 18.14% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 62,667 shares of company stock worth $22,688,329. 1.39% of the stock is currently owned by insiders.

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.