Summit Global Investments Increases Stake in The Travelers Companies, Inc. (NYSE:TRV)

Summit Global Investments increased its holdings in The Travelers Companies, Inc. (NYSE:TRV) by 0.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 10,354 shares of the insurance provider’s stock after acquiring an additional 72 shares during the quarter. Summit Global Investments’ holdings in Travelers Companies were worth $1,972,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Commonwealth Equity Services LLC increased its holdings in Travelers Companies by 2.7% during the third quarter. Commonwealth Equity Services LLC now owns 104,338 shares of the insurance provider’s stock valued at $17,039,000 after buying an additional 2,733 shares during the period. Xponance Inc. increased its holdings in shares of Travelers Companies by 4.7% in the 3rd quarter. Xponance Inc. now owns 29,357 shares of the insurance provider’s stock valued at $4,794,000 after acquiring an additional 1,314 shares during the period. Raymond James & Associates raised its position in shares of Travelers Companies by 7.0% in the 3rd quarter. Raymond James & Associates now owns 506,542 shares of the insurance provider’s stock worth $82,723,000 after acquiring an additional 32,984 shares in the last quarter. Raymond James Financial Services Advisors Inc. lifted its stake in shares of Travelers Companies by 11.9% during the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 73,560 shares of the insurance provider’s stock worth $12,013,000 after purchasing an additional 7,811 shares during the last quarter. Finally, Legacy Financial Group LLC bought a new stake in Travelers Companies during the third quarter valued at about $99,000. 82.45% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Travelers Companies

In other news, CFO Daniel S. Frey sold 38,000 shares of the firm’s stock in a transaction that occurred on Tuesday, February 6th. The shares were sold at an average price of $212.55, for a total transaction of $8,076,900.00. Following the sale, the chief financial officer now owns 14,810 shares of the company’s stock, valued at approximately $3,147,865.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other Travelers Companies news, EVP Jeffrey P. Klenk sold 3,635 shares of the stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $213.68, for a total transaction of $776,726.80. Following the transaction, the executive vice president now owns 6,075 shares in the company, valued at $1,298,106. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Daniel S. Frey sold 38,000 shares of the business’s stock in a transaction that occurred on Tuesday, February 6th. The shares were sold at an average price of $212.55, for a total value of $8,076,900.00. Following the completion of the sale, the chief financial officer now owns 14,810 shares of the company’s stock, valued at $3,147,865.50. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 56,635 shares of company stock valued at $12,057,727. 1.33% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of brokerages have commented on TRV. Citigroup boosted their target price on shares of Travelers Companies from $215.00 to $226.00 and gave the stock a “neutral” rating in a report on Tuesday, April 16th. HSBC increased their target price on shares of Travelers Companies from $218.00 to $240.00 and gave the company a “hold” rating in a research report on Thursday, April 4th. TD Cowen cut their price target on shares of Travelers Companies from $261.00 to $252.00 and set a “buy” rating on the stock in a report on Tuesday, April 23rd. Royal Bank of Canada decreased their price objective on Travelers Companies from $230.00 to $225.00 and set a “sector perform” rating for the company in a report on Thursday, April 18th. Finally, JPMorgan Chase & Co. boosted their target price on Travelers Companies from $194.00 to $213.00 and gave the stock an “underweight” rating in a research note on Monday, April 8th. Two research analysts have rated the stock with a sell rating, thirteen have issued a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Travelers Companies has a consensus rating of “Hold” and an average price target of $223.47.

Travelers Companies Stock Performance

Shares of TRV stock traded down $0.48 during trading hours on Friday, hitting $213.89. The company’s stock had a trading volume of 1,298,444 shares, compared to its average volume of 1,481,971. The stock has a market cap of $48.98 billion, a PE ratio of 15.89, a price-to-earnings-growth ratio of 1.11 and a beta of 0.60. The Travelers Companies, Inc. has a 12-month low of $157.33 and a 12-month high of $232.75. The company has a 50 day moving average of $220.96 and a 200 day moving average of $199.82. The company has a current ratio of 0.34, a quick ratio of 0.34 and a debt-to-equity ratio of 0.32.

Travelers Companies (NYSE:TRV) last posted its quarterly earnings results on Wednesday, April 17th. The insurance provider reported $4.69 EPS for the quarter, missing the consensus estimate of $4.75 by ($0.06). The business had revenue of $11.23 billion during the quarter, compared to analysts’ expectations of $10.62 billion. Travelers Companies had a net margin of 7.32% and a return on equity of 13.94%. Travelers Companies’s revenue for the quarter was up 15.7% compared to the same quarter last year. During the same period in the previous year, the company posted $4.11 earnings per share. On average, sell-side analysts forecast that The Travelers Companies, Inc. will post 17.74 EPS for the current fiscal year.

Travelers Companies Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Monday, June 10th will be given a dividend of $1.05 per share. This is a boost from Travelers Companies’s previous quarterly dividend of $1.00. This represents a $4.20 annualized dividend and a yield of 1.96%. The ex-dividend date is Friday, June 7th. Travelers Companies’s dividend payout ratio (DPR) is currently 29.72%.

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.