Resona Asset Management Co. Ltd. Buys 2,588 Shares of The Travelers Companies, Inc. $TRV

Resona Asset Management Co. Ltd. raised its stake in shares of The Travelers Companies, Inc. (NYSE:TRV) by 2.9% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 92,351 shares of the insurance provider’s stock after buying an additional 2,588 shares during the period. Resona Asset Management Co. Ltd.’s holdings in Travelers Companies were worth $24,656,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Cornerstone Planning Group LLC increased its position in Travelers Companies by 700.0% during the first quarter. Cornerstone Planning Group LLC now owns 96 shares of the insurance provider’s stock valued at $25,000 after acquiring an additional 84 shares during the last quarter. Greykasell Wealth Strategies Inc. bought a new stake in shares of Travelers Companies during the 1st quarter valued at about $26,000. Missouri Trust & Investment Co increased its position in shares of Travelers Companies by 122.2% during the 2nd quarter. Missouri Trust & Investment Co now owns 100 shares of the insurance provider’s stock valued at $27,000 after purchasing an additional 55 shares during the last quarter. Quaker Wealth Management LLC lifted its stake in shares of Travelers Companies by 200.0% in the 2nd quarter. Quaker Wealth Management LLC now owns 104 shares of the insurance provider’s stock worth $28,000 after purchasing an additional 208 shares during the period. Finally, Nova Wealth Management Inc. bought a new position in shares of Travelers Companies in the 2nd quarter worth approximately $32,000. 82.45% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on TRV shares. Weiss Ratings restated a “buy (b)” rating on shares of Travelers Companies in a research report on Tuesday, October 14th. JPMorgan Chase & Co. boosted their price objective on shares of Travelers Companies from $289.00 to $297.00 and gave the company an “underweight” rating in a research report on Thursday, October 9th. Evercore ISI reaffirmed an “outperform” rating on shares of Travelers Companies in a report on Wednesday, October 1st. Wall Street Zen downgraded Travelers Companies from a “buy” rating to a “hold” rating in a research report on Sunday, October 19th. Finally, Piper Sandler boosted their price target on Travelers Companies from $320.00 to $322.00 and gave the company an “overweight” rating in a report on Friday, October 17th. Two research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating, eleven have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $291.31.

Travelers Companies Stock Down 0.2%

TRV opened at $276.21 on Friday. The stock has a market cap of $61.61 billion, a price-to-earnings ratio of 10.86, a price-to-earnings-growth ratio of 2.38 and a beta of 0.55. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.35 and a current ratio of 0.35. The firm’s fifty day moving average is $274.07 and its 200 day moving average is $268.53. The Travelers Companies, Inc. has a fifty-two week low of $230.23 and a fifty-two week high of $287.95.

Travelers Companies (NYSE:TRV) last issued its earnings results on Thursday, October 16th. The insurance provider reported $8.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.01 by $2.13. Travelers Companies had a return on equity of 20.28% and a net margin of 12.14%.The company had revenue of $11.47 billion for the quarter, compared to the consensus estimate of $11.15 billion. During the same quarter last year, the company earned $5.24 EPS. The firm’s quarterly revenue was up 4.8% on a year-over-year basis. On average, sell-side analysts forecast that The Travelers Companies, Inc. will post 17.02 earnings per share for the current fiscal year.

Travelers Companies Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 31st. Investors of record on Wednesday, December 10th will be given a dividend of $1.10 per share. The ex-dividend date is Wednesday, December 10th. This represents a $4.40 dividend on an annualized basis and a dividend yield of 1.6%. Travelers Companies’s dividend payout ratio is currently 17.30%.

Insider Buying and Selling at Travelers Companies

In other Travelers Companies news, EVP Michael Frederick Klein sold 8,572 shares of the stock in a transaction dated Tuesday, October 28th. The shares were sold at an average price of $270.73, for a total transaction of $2,320,697.56. Following the completion of the transaction, the executive vice president owned 33,638 shares of the company’s stock, valued at $9,106,815.74. This represents a 20.31% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Mojgan M. Lefebvre sold 16,820 shares of the business’s stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $277.54, for a total value of $4,668,222.80. The disclosure for this sale is available in the SEC filing. Company insiders own 1.46% of the company’s stock.

Travelers Companies Company Profile

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.