Commerce Bank Buys New Stake in The Travelers Companies, Inc. $TRV

Commerce Bank purchased a new position in The Travelers Companies, Inc. (NYSE:TRV) in the 2nd quarter, Holdings Channel.com reports. The firm purchased 26,943 shares of the insurance provider’s stock, valued at approximately $8,894,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Brighton Jones LLC lifted its position in shares of Travelers Companies by 13.4% during the 4th 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 period. Revolve Wealth Partners LLC bought a new stake in Travelers Companies in the fourth quarter valued at $276,000. WINTON GROUP Ltd bought a new stake in Travelers Companies in the second quarter valued at $382,000. CIBC Asset Management Inc raised its stake 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 acquiring an additional 8,383 shares in the last quarter. Finally, Treasurer of the State of North Carolina raised its stake in Travelers Companies by 2.0% during the second quarter. Treasurer of the State of North Carolina now owns 105,605 shares of the insurance provider’s stock worth $28,254,000 after acquiring an additional 2,117 shares in the last quarter. Institutional investors own 82.45% of the company’s stock.

Wall Street Analysts Forecast Growth

TRV has been the topic of several recent analyst reports. Keefe, Bruyette & Woods restated a “market perform” rating and issued a $356.00 target price (up from $342.00) on shares of Travelers Companies in a research note on Wednesday, July 8th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating on shares of Travelers Companies in a research report on Tuesday, July 21st. Weiss Ratings raised shares of Travelers Companies from a “buy (a-)” rating to a “buy (a)” rating in a report on Thursday. Zacks Research upgraded shares of Travelers Companies from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, July 29th. Finally, UBS Group upped their price objective on shares of Travelers Companies from $314.00 to $350.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 8th. Four investment analysts have rated the stock with a Strong Buy rating, four have given a Buy rating, thirteen have given a Hold rating and five have given a Sell rating to the stock. According to data from MarketBeat.com, Travelers Companies presently has a consensus rating of “Hold” and a consensus target price of $354.26.

Travelers Companies Price Performance

Travelers Companies stock opened at $363.83 on Monday. 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 firm has a market cap of $75.89 billion, a P/E ratio of 9.74, a P/E/G ratio of 3.46 and a beta of 0.45. The business’s fifty day moving average is $352.28 and its two-hundred day moving average is $318.35. The Travelers Companies, Inc. has a 52 week low of $252.26 and a 52 week high of $398.70.

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

Travelers Companies Dividend Announcement

The business 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 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 dividend payout ratio is currently 13.39%.

Insider Activity

In other Travelers Companies news, EVP Michael Frederick Klein sold 6,000 shares of the firm’s stock in a transaction dated Tuesday, July 21st. The shares were sold at an average price of $366.09, for a total value of $2,196,540.00. Following the completion of the sale, the executive vice president owned 45,125 shares in the company, valued at approximately $16,519,811.25. This trade represents a 11.74% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Diane Kurtzman sold 4,164 shares of the business’s stock in a transaction dated Friday, July 24th. The stock was sold at an average price of $386.71, for a total transaction of $1,610,260.44. Following the completion of the transaction, the executive vice president directly owned 5,298 shares of the company’s stock, valued at approximately $2,048,789.58. This represents a 44.01% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, 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 Company 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.