Connor Clark & Lunn Investment Management Ltd. Acquires New Position in The Travelers Companies, Inc. $TRV

Connor Clark & Lunn Investment Management Ltd. acquired a new stake in The Travelers Companies, Inc. (NYSE:TRV) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 248,742 shares of the insurance provider’s stock, valued at approximately $82,115,000. Connor Clark & Lunn Investment Management Ltd. owned about 0.12% of Travelers Companies as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently bought and sold shares of TRV. Meiji Yasuda Asset Management Co Ltd. acquired a new position in shares of Travelers Companies in the 2nd quarter valued at $1,840,000. Clarion Wealth Managment Partners LLC acquired a new stake in shares of Travelers Companies during the second quarter worth $283,000. Te Ahumairangi Investment Management Ltd bought a new stake in Travelers Companies in the second quarter valued at about $9,992,000. Mission Financial Group LLC bought a new stake in Travelers Companies in the second quarter valued at about $204,000. Finally, Pinnacle Holdings LLC acquired a new position in Travelers Companies in the second quarter valued at about $3,550,000. Institutional investors and hedge funds own 82.45% of the company’s stock.

Wall Street Analysts Forecast Growth

TRV has been the topic of a number of recent analyst reports. Truist Financial raised their target price on Travelers Companies from $395.00 to $425.00 and gave the stock a “buy” rating in a report on Monday, July 20th. TD Cowen downgraded shares of Travelers Companies from a “hold” rating to a “sell” rating and set a $297.00 price target on the stock. in a research report on Monday, July 13th. Barclays lifted their price objective on shares of Travelers Companies from $295.00 to $318.00 and gave the stock an “underweight” rating in a research note on Tuesday, July 21st. Raymond James Financial set a $430.00 price objective on shares of Travelers Companies in a report on Monday, July 20th. Finally, Wells Fargo & Company upped their target price on shares of Travelers Companies from $295.00 to $334.00 and gave the company an “equal weight” rating in a research note on Thursday, July 9th. Four analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating, thirteen have assigned a Hold rating and five have issued a Sell rating to the stock. According to MarketBeat, Travelers Companies currently has an average rating of “Hold” and a consensus price target of $354.26.

Travelers Companies Stock Performance

TRV stock opened at $363.83 on Monday. The Travelers Companies, Inc. has a 1-year low of $252.26 and a 1-year 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 firm has a market cap of $75.89 billion, a PE ratio of 9.74, a P/E/G ratio of 3.46 and a beta of 0.45. The business’s 50-day moving average price is $352.28 and its two-hundred day moving average price is $318.35.

Travelers Companies (NYSE:TRV) last announced its quarterly earnings results on Friday, July 17th. The insurance provider reported $10.04 earnings per share (EPS) for the quarter, topping 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 return on equity of 25.41% and a net margin of 16.95%.The company’s revenue for the quarter was up .3% compared to the same quarter last year. During the same period in the prior year, the company earned $6.51 earnings per share. As a group, research analysts forecast that The Travelers Companies, Inc. will post 33.82 earnings per share for the current year.

Travelers Companies Announces Dividend

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

Insider Buying and Selling at Travelers Companies

In other news, EVP David Donnay Rowland sold 5,000 shares of the company’s stock in a transaction that occurred on Wednesday, July 22nd. The shares were sold at an average price of $371.69, for a total value of $1,858,450.00. Following the completion of the transaction, the executive vice president owned 10,479 shares in the company, valued at $3,894,939.51. This represents a 32.30% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Daniel S. Frey sold 14,037 shares of the stock in a transaction on Tuesday, July 21st. The stock was sold at an average price of $368.24, for a total transaction of $5,168,984.88. Following the sale, the chief financial officer directly owned 27,535 shares of the company’s stock, valued at $10,139,488.40. This represents a 33.77% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 62,667 shares of company stock worth $22,688,329 in the last quarter. Company insiders own 1.39% of the company’s stock.

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.