Proficio Capital Partners LLC Takes Position in The Travelers Companies, Inc. $TRV

Proficio Capital Partners LLC bought a new stake in shares of The Travelers Companies, Inc. (NYSE:TRV) during the 2nd quarter, HoldingsChannel reports. The institutional investor bought 2,194 shares of the insurance provider’s stock, valued at approximately $724,000.

Several other large investors have also added to or reduced their stakes in TRV. BlackRock Inc. acquired a new position in Travelers Companies in the second quarter valued at approximately $6,915,909,000. State Street Corp boosted its holdings 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 worth $4,641,093,000 after buying an additional 486,861 shares in the last quarter. Morgan Stanley grew its position in shares of Travelers Companies by 2.3% during the 4th quarter. Morgan Stanley now owns 3,793,750 shares of the insurance provider’s stock worth $1,100,416,000 after buying an additional 85,298 shares during the period. Dimensional Fund Advisors LP grew its position in shares of Travelers Companies by 3.7% during the 1st quarter. Dimensional Fund Advisors LP now owns 3,484,676 shares of the insurance provider’s stock worth $1,016,433,000 after buying an additional 123,564 shares during the period. Finally, Bank of America Corp DE bought a new stake in shares of Travelers Companies in the 2nd quarter valued at $932,142,000. Institutional investors and hedge funds own 82.45% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the stock. Piper Sandler boosted their target price on shares of Travelers Companies to $340.00 and gave the company an “overweight” rating in a research report on Monday, July 13th. JPMorgan Chase & Co. upgraded shares of Travelers Companies from an “underweight” rating to a “neutral” rating and raised their price target for the stock from $316.00 to $322.00 in a report on Tuesday, May 26th. Barclays lifted their price target on shares of Travelers Companies from $295.00 to $318.00 and gave the company an “underweight” rating in a research note on Tuesday, July 21st. The Goldman Sachs Group cut shares of Travelers Companies from a “neutral” rating to a “sell” rating and set a $350.00 price objective on the stock. in a research report on Monday, July 20th. Finally, Deutsche Bank Aktiengesellschaft restated a “hold” rating on shares of Travelers Companies in a research note on Tuesday, July 21st. Four 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 issued a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $354.26.

Travelers Companies Stock Performance

NYSE TRV opened at $363.61 on Wednesday. The company has a fifty day simple moving average of $360.59 and a 200 day simple moving average of $321.90. The Travelers Companies, Inc. has a 12-month low of $252.26 and a 12-month high of $398.70. The company has a current ratio of 0.33, a quick ratio of 0.33 and a debt-to-equity ratio of 0.27. The company has a market cap of $75.84 billion, a P/E ratio of 9.74, a PEG ratio of 2.46 and a beta of 0.45.

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

Travelers Companies Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Thursday, September 10th will be given a dividend of $1.25 per share. The ex-dividend date of this dividend is Thursday, September 10th. This represents a $5.00 annualized dividend and a dividend yield of 1.4%. Travelers Companies’s payout ratio is presently 13.39%.

Insider Buying and Selling

In related news, EVP Diane Kurtzman sold 4,164 shares of the company’s stock in a transaction dated Friday, July 24th. The shares were sold at an average price of $386.71, for a total value of $1,610,260.44. Following the sale, the executive vice president owned 5,298 shares in the company, valued at $2,048,789.58. This represents a 44.01% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Maria Olivo sold 6,000 shares of the firm’s stock in a transaction dated Friday, August 28th. The shares were sold at an average price of $369.86, for a total transaction of $2,219,160.00. Following the completion of the transaction, the executive vice president directly owned 118,742 shares in the company, valued at approximately $43,917,916.12. The trade was a 4.81% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 58,667 shares of company stock worth $21,830,989 over the last ninety days. Insiders own 1.39% of the company’s stock.

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.