Shorepoint Capital Partners LLC Makes New Investment in The Travelers Companies, Inc. $TRV

Shorepoint Capital Partners LLC acquired a new stake in shares of The Travelers Companies, Inc. (NYSE:TRV) during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 39,589 shares of the insurance provider’s stock, valued at approximately $11,054,000. Travelers Companies accounts for 2.2% of Shorepoint Capital Partners LLC’s investment portfolio, making the stock its 8th largest holding.

A number of other institutional investors and hedge funds also recently made changes to their positions in TRV. Vanguard Group Inc. raised its stake in Travelers Companies by 1.4% during the 2nd quarter. Vanguard Group Inc. now owns 22,047,005 shares of the insurance provider’s stock worth $5,898,456,000 after buying an additional 313,449 shares during the period. JPMorgan Chase & Co. lifted its holdings in shares of Travelers Companies by 10.9% in the 2nd quarter. JPMorgan Chase & Co. now owns 7,626,750 shares of the insurance provider’s stock worth $2,040,475,000 after purchasing an additional 751,715 shares in the last quarter. Geode Capital Management LLC increased its stake in Travelers Companies by 1.0% during the 2nd quarter. Geode Capital Management LLC now owns 5,541,819 shares of the insurance provider’s stock valued at $1,481,805,000 after purchasing an additional 54,363 shares in the last quarter. Valeo Financial Advisors LLC raised its holdings in Travelers Companies by 71,265.9% during the second quarter. Valeo Financial Advisors LLC now owns 3,616,826 shares of the insurance provider’s stock worth $967,646,000 after buying an additional 3,611,758 shares during the last quarter. Finally, Norges Bank acquired a new stake in shares of Travelers Companies in the 2nd quarter worth about $815,013,000. Institutional investors own 82.45% of the company’s stock.

Wall Street Analyst Weigh In

TRV has been the subject of several recent research reports. Piper Sandler upped their price target on Travelers Companies from $320.00 to $322.00 and gave the stock an “overweight” rating in a report on Friday, October 17th. UBS Group upped their price objective on shares of Travelers Companies from $284.00 to $287.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 8th. Keefe, Bruyette & Woods lifted their target price on shares of Travelers Companies from $304.00 to $305.00 and gave the stock an “outperform” rating in a research report on Monday, October 20th. Wells Fargo & Company restated a “positive” rating on shares of Travelers Companies in a research note on Friday, October 17th. Finally, Mizuho set a $317.00 price target on Travelers Companies in a research report on Monday. Two equities research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating, ten have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $294.25.

Insider Buying and Selling at Travelers Companies

In related news, Vice Chairman William H. Heyman sold 1,803 shares of the business’s stock in a transaction on Thursday, November 13th. The stock was sold at an average price of $289.55, for a total transaction of $522,058.65. Following the sale, the insider directly owned 255,086 shares in the company, valued at approximately $73,860,151.30. The trade was a 0.70% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Michael Frederick Klein sold 8,572 shares of the stock in a transaction dated Tuesday, October 28th. The stock was sold at an average price of $270.73, for a total value of $2,320,697.56. Following the sale, the executive vice president directly owned 33,638 shares in the company, valued at $9,106,815.74. This trade represents a 20.31% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 46,295 shares of company stock valued at $13,011,918. 1.46% of the stock is owned by corporate insiders.

Travelers Companies Trading Up 1.9%

Shares of TRV stock opened at $290.63 on Tuesday. The Travelers Companies, Inc. has a 12-month low of $230.23 and a 12-month high of $296.85. The company has a quick ratio of 0.35, a current ratio of 0.35 and a debt-to-equity ratio of 0.29. The company has a 50 day moving average of $279.40 and a 200-day moving average of $272.18. The firm has a market cap of $64.83 billion, a P/E ratio of 11.43, a PEG ratio of 2.80 and a beta of 0.53.

Travelers Companies (NYSE:TRV) last released its earnings results on Thursday, October 16th. The insurance provider reported $8.14 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $6.01 by $2.13. The business had revenue of $12.47 billion during the quarter, compared to the consensus estimate of $11.15 billion. Travelers Companies had a return on equity of 20.28% and a net margin of 12.14%.The business’s revenue for the quarter was up 4.8% on a year-over-year basis. During the same period last year, the business posted $5.24 earnings per share. Sell-side analysts anticipate that The Travelers Companies, Inc. will post 17.02 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, December 31st. Shareholders of record on Wednesday, December 10th will be given a dividend of $1.10 per share. This represents a $4.40 dividend on an annualized basis and a yield of 1.5%. The ex-dividend date is Wednesday, December 10th. Travelers Companies’s dividend payout ratio (DPR) is currently 17.30%.

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.