Weiss Asset Management LP Invests $1.82 Million in The Travelers Companies, Inc. $TRV

Weiss Asset Management LP acquired a new stake in The Travelers Companies, Inc. (NYSE:TRV) in the first quarter, HoldingsChannel.com reports. The firm acquired 6,240 shares of the insurance provider’s stock, valued at approximately $1,820,000.

Other large investors have also recently added to or reduced their stakes in the company. Norges Bank acquired a new stake in Travelers Companies in the 4th quarter worth about $723,339,000. State Street Corp increased its stake in shares of Travelers Companies by 3.1% during the 4th quarter. State Street Corp now owns 16,000,457 shares of the insurance provider’s stock valued at $4,641,093,000 after acquiring an additional 486,861 shares during the last quarter. AustralianSuper Pty Ltd increased its stake in shares of Travelers Companies by 102.0% during the 4th quarter. AustralianSuper Pty Ltd now owns 908,559 shares of the insurance provider’s stock valued at $263,537,000 after acquiring an additional 458,746 shares during the last quarter. Woodline Partners LP purchased a new position in shares of Travelers Companies during the 3rd quarter worth about $99,680,000. Finally, AQR Capital Management LLC boosted its position in shares of Travelers Companies by 22.8% in the third quarter. AQR Capital Management LLC now owns 1,785,288 shares of the insurance provider’s stock worth $496,872,000 after acquiring an additional 331,170 shares during the last quarter. 82.45% of the stock is currently owned by hedge funds and other institutional investors.

Travelers Companies News Summary

Here are the key news stories impacting Travelers Companies this week:

• Positive Sentiment: Analyst coverage remained constructive, with Morgan Stanley and other firms highlighting potential upside, while a recent Zacks note said Travelers’ shares hit a 52-week high and questioned whether the run can continue. Morgan Stanley Forecasts Strong Price Appreciation for Travelers Companies (NYSE:TRV) Stock The Travelers Companies, Inc. (TRV) Hit a 52 Week High, Can the Run Continue?
• Positive Sentiment: AM Best assigned an “a+” issue credit rating with a stable outlook to Travelers’ new $750 million senior unsecured notes, signaling confidence in the company’s credit quality and access to capital. AM Best Assigns Issue Credit Rating to The Travelers Companies, Inc. New Senior Unsecured Notes
• Positive Sentiment: Travelers priced $750 million of 4.95% senior notes due 2031, which adds funding for general corporate purposes and appears manageable given the company’s strong balance sheet. Travelers Companies Prices $750 Million Senior Notes Offering
• Neutral Sentiment: Mizuho raised its price target to $343 from $324 but kept a neutral rating, suggesting the stock may have already moved ahead of near-term fundamentals. Mizuho price target update
• Negative Sentiment: Reports that several top Travelers executives sold company stock could weigh on sentiment, even if the transactions were routine. Top Travelers Executives Quietly Unload Millions in Company Stock
• Negative Sentiment: Deutsche Bank and UBS both reiterated hold-type views, reinforcing that some analysts see limited upside after the recent rally. Deutsche Bank Sticks to Its Hold Rating for Travelers Companies (TRV) UBS Releases a Hold Rating on Travelers Companies (TRV)

Insiders Place Their Bets

In other news, insider Avrohom J. Kess sold 6,735 shares of Travelers Companies stock in a transaction dated Tuesday, April 28th. The stock was sold at an average price of $308.78, for a total transaction of $2,079,633.30. Following the sale, the insider directly owned 48,737 shares of the company’s stock, valued at approximately $15,049,010.86. The trade was a 12.14% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Michael Frederick Klein sold 10,000 shares of the business’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 completion of the transaction, the executive vice president owned 45,125 shares in the company, valued at approximately $13,882,706.25. This trade represents a 18.14% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 18,292 shares of company stock worth $5,639,800 in the last quarter. 1.39% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

TRV has been the subject of several research analyst reports. Wells Fargo & Company upped their price target on shares of Travelers Companies from $295.00 to $334.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 9th. TD Cowen downgraded Travelers Companies from a “hold” rating to a “sell” rating and set a $297.00 price objective for the company. in a report on Monday, July 13th. Weiss Ratings reaffirmed a “buy (a-)” rating on shares of Travelers Companies in a research report on Friday, May 8th. Cantor Fitzgerald lifted their target price on Travelers Companies from $335.00 to $360.00 and gave the company an “overweight” rating in a report on Thursday, July 9th. Finally, Bank of America boosted their price target on Travelers Companies from $283.00 to $307.00 and gave the company an “underperform” rating in a research report on Monday, July 20th. Three investment analysts have rated the stock with a Strong Buy rating, four have given a Buy rating, fourteen have assigned a Hold rating and five have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $354.26.

Travelers Companies Stock Performance

Travelers Companies stock opened at $387.42 on Monday. The stock’s 50 day moving average price is $322.06 and its 200 day moving average price is $304.59. The firm has a market capitalization of $80.80 billion, a PE ratio of 10.38, a price-to-earnings-growth ratio of 3.83 and a beta of 0.46. 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 one year low of $252.26 and a one year high of $389.11.

Travelers Companies (NYSE:TRV) last issued its quarterly earnings data on Friday, July 17th. The insurance provider reported $10.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.41 by $4.63. The company had revenue of $12.15 billion during the quarter, compared to the consensus estimate of $11.26 billion. Travelers Companies had a net margin of 16.95% and a return on equity of 25.41%. Travelers Companies’s revenue for the quarter was up .3% on a year-over-year basis. During the same quarter last year, the company earned $6.51 earnings per share. As a group, sell-side analysts expect that The Travelers Companies, Inc. will post 32.49 EPS for the current fiscal year.

Travelers Companies Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Thursday, September 10th will be issued 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 1.3%. Travelers Companies’s payout ratio is currently 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.