Wealth Alliance LLC Decreases Stake in The Travelers Companies, Inc. $TRV

Wealth Alliance LLC cut its holdings in shares of The Travelers Companies, Inc. (NYSE:TRV) by 42.1% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,205 shares of the insurance provider’s stock after selling 2,328 shares during the quarter. Wealth Alliance LLC’s holdings in Travelers Companies were worth $935,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Norges Bank acquired a new position in shares of Travelers Companies during the 4th quarter worth approximately $723,339,000. State Street Corp increased its holdings in shares of Travelers Companies by 3.1% in the fourth quarter. State Street Corp now owns 16,000,457 shares of the insurance provider’s stock valued at $4,641,093,000 after purchasing an additional 486,861 shares during the last quarter. AustralianSuper Pty Ltd increased its holdings in shares of Travelers Companies by 102.0% in the fourth quarter. AustralianSuper Pty Ltd now owns 908,559 shares of the insurance provider’s stock valued at $263,537,000 after purchasing an additional 458,746 shares during the last quarter. Woodline Partners LP purchased a new position in Travelers Companies during the third quarter worth approximately $99,680,000. Finally, AQR Capital Management LLC boosted its stake in Travelers Companies by 22.8% during the third quarter. AQR Capital Management LLC now owns 1,785,288 shares of the insurance provider’s stock worth $496,872,000 after buying an additional 331,170 shares during the last quarter. Hedge funds and other institutional investors own 82.45% of the company’s stock.

Analyst Ratings Changes

Several brokerages have issued reports on TRV. BMO Capital Markets cut Travelers Companies from an “outperform” rating to a “market perform” rating and upped their target price for the company from $314.00 to $379.00 in a report on Tuesday. Deutsche Bank Aktiengesellschaft reissued a “hold” rating on shares of Travelers Companies in a research report on Tuesday. Seaport Research Partners set a $322.00 price objective on shares of Travelers Companies in a report on Tuesday, May 26th. TD Cowen downgraded shares of Travelers Companies from a “hold” rating to a “sell” rating and set a $297.00 target price on the stock. in a research note on Monday, July 13th. Finally, HSBC increased their price target on shares of Travelers Companies from $321.00 to $351.00 and gave the company a “hold” rating in a research note on Monday, July 6th. Three investment analysts have rated the stock with a Strong Buy rating, four have given a Buy rating, fourteen have issued a Hold rating and five have assigned a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $354.26.

Travelers Companies News Roundup

Here are the key news stories impacting Travelers Companies this week:

• Positive Sentiment: Analyst coverage remained constructive, with Morgan Stanley and other firms highlighting potential upside, while a recent Zacks note said Travelers’ shares hit a 52-week high and questioned whether the run can continue. Morgan Stanley Forecasts Strong Price Appreciation for Travelers Companies (NYSE:TRV) Stock The Travelers Companies, Inc. (TRV) Hit a 52 Week High, Can the Run Continue?
• Positive Sentiment: AM Best assigned an “a+” issue credit rating with a stable outlook to Travelers’ new $750 million senior unsecured notes, signaling confidence in the company’s credit quality and access to capital. AM Best Assigns Issue Credit Rating to The Travelers Companies, Inc. New Senior Unsecured Notes
• Positive Sentiment: Travelers priced $750 million of 4.95% senior notes due 2031, which adds funding for general corporate purposes and appears manageable given the company’s strong balance sheet. Travelers Companies Prices $750 Million Senior Notes Offering
• Neutral Sentiment: Mizuho raised its price target to $343 from $324 but kept a neutral rating, suggesting the stock may have already moved ahead of near-term fundamentals. Mizuho price target update
• Negative Sentiment: Reports that several top Travelers executives sold company stock could weigh on sentiment, even if the transactions were routine. Top Travelers Executives Quietly Unload Millions in Company Stock
• Negative Sentiment: Deutsche Bank and UBS both reiterated hold-type views, reinforcing that some analysts see limited upside after the recent rally. Deutsche Bank Sticks to Its Hold Rating for Travelers Companies (TRV) UBS Releases a Hold Rating on Travelers Companies (TRV)

Travelers Companies Stock Performance

Shares of Travelers Companies stock opened at $387.42 on Friday. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.33 and a quick ratio of 0.35. The stock has a market capitalization of $80.80 billion, a price-to-earnings ratio of 10.38, a price-to-earnings-growth ratio of 3.87 and a beta of 0.46. The business has a 50-day moving average of $322.06 and a 200 day moving average of $304.48. The Travelers Companies, Inc. has a 12 month low of $252.26 and a 12 month high of $389.11.

Travelers Companies (NYSE:TRV) last issued 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. 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 for the quarter, compared to analysts’ expectations of $11.26 billion. During the same quarter in the prior year, the company earned $6.51 earnings per share. The business’s quarterly revenue was up .3% on a year-over-year basis. As a group, sell-side analysts forecast that The Travelers Companies, Inc. will post 32.49 earnings per share for the current year.

Travelers Companies Announces Dividend

The business also recently disclosed 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 dividend on an annualized basis and a dividend yield of 1.3%. Travelers Companies’s dividend payout ratio is currently 13.39%.

Insider Activity

In other news, Vice Chairman William H. Heyman sold 1,557 shares of the stock in a transaction on Tuesday, April 28th. The stock was sold at an average price of $310.64, for a total value of $483,666.48. Following the sale, the insider directly owned 259,590 shares in the company, valued at approximately $80,639,037.60. This trade represents a 0.60% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Michael Frederick Klein sold 10,000 shares of the business’s stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $307.65, for a total value of $3,076,500.00. Following the transaction, the executive vice president directly owned 45,125 shares of the company’s stock, valued at $13,882,706.25. The trade was a 18.14% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 18,292 shares of company stock worth $5,639,800. Corporate 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.