Fifth Third Bancorp Increases Holdings in The Travelers Companies, Inc. (NYSE:TRV)

Fifth Third Bancorp raised its stake in The Travelers Companies, Inc. (NYSE:TRV) by 11.9% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 19,558 shares of the insurance provider’s stock after buying an additional 2,078 shares during the quarter. Fifth Third Bancorp’s holdings in Travelers Companies were worth $3,977,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Northwest Financial Advisors acquired a new stake in Travelers Companies during the fourth quarter worth about $32,000. Pathway Financial Advisers LLC purchased a new position in Travelers Companies in the first quarter worth approximately $35,000. Beacon Capital Management LLC raised its position in Travelers Companies by 74.2% in the first quarter. Beacon Capital Management LLC now owns 155 shares of the insurance provider’s stock valued at $36,000 after purchasing an additional 66 shares during the period. Private Wealth Management Group LLC acquired a new position in shares of Travelers Companies in the 4th quarter valued at $39,000. Finally, Opal Wealth Advisors LLC acquired a new position in shares of Travelers Companies in the 1st quarter valued at $42,000. 82.45% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Travelers Companies

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

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the stock. Bank of America upped their target price on shares of Travelers Companies from $202.00 to $223.00 and gave the company an “underperform” rating in a research report on Monday, July 22nd. Deutsche Bank Aktiengesellschaft raised their price target on Travelers Companies from $221.00 to $234.00 and gave the stock a “hold” rating in a research report on Wednesday, August 7th. JPMorgan Chase & Co. boosted their price objective on Travelers Companies from $220.00 to $242.00 and gave the company an “underweight” rating in a report on Thursday, July 11th. Piper Sandler lowered their target price on Travelers Companies from $213.00 to $207.00 and set a “neutral” rating for the company in a report on Monday, July 22nd. Finally, StockNews.com upgraded shares of Travelers Companies from a “hold” rating to a “buy” rating in a research note on Monday, July 22nd. Four analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $223.78.

Travelers Companies Stock Performance

Shares of TRV stock traded down $0.11 during trading hours on Wednesday, hitting $216.91. The stock had a trading volume of 761,315 shares, compared to its average volume of 1,352,106. 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 firm has a market capitalization of $49.44 billion, a PE ratio of 16.11, a PEG ratio of 1.12 and a beta of 0.61. The stock’s 50 day moving average is $210.12 and its 200 day moving average is $215.39. The Travelers Companies, Inc. has a twelve month low of $157.33 and a twelve month high of $232.75.

Travelers Companies (NYSE:TRV) last issued its quarterly earnings results 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 for the quarter, compared to analyst estimates of $11.35 billion. During the same quarter in the prior year, the company earned $0.06 EPS. The firm’s revenue for the quarter was up 11.7% on a year-over-year basis. As a group, research analysts forecast that The Travelers Companies, Inc. will post 17.23 earnings per share for the current fiscal year.

Travelers Companies Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Tuesday, September 10th will be issued a dividend of $1.05 per share. This represents a $4.20 annualized dividend and a dividend yield of 1.94%. The ex-dividend date is Tuesday, September 10th. Travelers Companies’s dividend payout ratio is presently 31.20%.

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.