Asset Dedication LLC Buys Shares of 24,346 The Travelers Companies, Inc. (NYSE:TRV)

Asset Dedication LLC purchased a new stake in shares of The Travelers Companies, Inc. (NYSE:TRV) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 24,346 shares of the insurance provider’s stock, valued at approximately $4,950,000.

Several other institutional investors and hedge funds also recently made changes to their positions in TRV. Pathway Financial Advisers LLC bought a new position in Travelers Companies during the first quarter worth about $35,000. Beacon Capital Management LLC boosted its holdings in Travelers Companies by 74.2% in the 1st quarter. Beacon Capital Management LLC now owns 155 shares of the insurance provider’s stock worth $36,000 after buying an additional 66 shares during the period. Northwest Financial Advisors bought a new position in Travelers Companies in the 4th quarter worth approximately $32,000. Opal Wealth Advisors LLC purchased a new position in Travelers Companies in the 1st quarter valued at approximately $42,000. Finally, Tributary Capital Management LLC purchased a new stake in shares of Travelers Companies during the first quarter worth $45,000. Institutional investors own 82.45% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the company. Royal Bank of Canada reiterated a “sector perform” rating and issued a $225.00 price target on shares of Travelers Companies in a research report on Monday, July 22nd. TD Cowen downgraded shares of Travelers Companies from a “buy” rating to a “hold” rating and lowered their price target for the stock from $252.00 to $230.00 in a report on Monday, July 15th. JPMorgan Chase & Co. raised their price objective on shares of Travelers Companies from $220.00 to $242.00 and gave the company an “underweight” rating in a research report on Thursday, July 11th. Morgan Stanley decreased their target price on shares of Travelers Companies from $220.00 to $210.00 and set an “equal weight” rating on the stock in a report on Friday, July 19th. Finally, Barclays began coverage on shares of Travelers Companies in a report on Wednesday. They issued an “overweight” rating and a $286.00 price target for the company. Four analysts have rated the stock with a sell rating, thirteen have given a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Travelers Companies presently has an average rating of “Hold” and a consensus target price of $227.05.

Travelers Companies Stock Performance

NYSE:TRV opened at $234.46 on Friday. The company has a market capitalization of $53.44 billion, a price-to-earnings ratio of 17.42, a PEG ratio of 1.20 and a beta of 0.62. The business has a 50 day moving average of $214.78 and a 200 day moving average of $216.30. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.33 and a quick ratio of 0.33. The Travelers Companies, Inc. has a 1-year low of $157.33 and a 1-year high of $236.59.

Travelers Companies (NYSE:TRV) last announced its quarterly earnings data on Friday, July 19th. The insurance provider reported $2.51 earnings per share for the quarter, missing analysts’ consensus estimates of $3.23 by ($0.72). Travelers Companies had a return on equity of 15.90% and a net margin of 8.37%. The business had revenue of $11.28 billion during the quarter, compared to the consensus estimate of $11.35 billion. During the same quarter in the previous year, the firm posted $0.06 earnings per share. The company’s revenue was up 11.7% compared to the same quarter last year. On average, sell-side analysts predict that The Travelers Companies, Inc. will post 17.19 earnings per share for the current fiscal year.

Travelers Companies Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Tuesday, September 10th will be given a dividend of $1.05 per share. The ex-dividend date of this dividend is Tuesday, September 10th. This represents a $4.20 annualized dividend and a yield of 1.79%. Travelers Companies’s payout ratio is 31.20%.

Insider Activity

In related news, EVP Michael Frederick Klein sold 10,000 shares of the stock in a transaction dated Thursday, July 25th. The stock was sold at an average price of $211.44, for a total transaction of $2,114,400.00. Following the completion of the sale, the executive vice president now directly owns 22,798 shares in the company, valued at approximately $4,820,409.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 1.33% of the company’s stock.

About Travelers Companies

The Travelers Companies, Inc, through its subsidiaries, provides a range of commercial and personal property, and casualty insurance products and services to businesses, government units, associations, and individuals in the United States and internationally. The company operates through three segments: Business Insurance, Bond & Specialty Insurance, and Personal Insurance.