OP Asset Management Ltd Invests $11.26 Million in The Travelers Companies, Inc. $TRV

OP Asset Management Ltd purchased a new position in shares of The Travelers Companies, Inc. (NYSE:TRV) in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 38,605 shares of the insurance provider’s stock, valued at approximately $11,260,000.

Several other hedge funds and other institutional investors have also bought and sold shares of TRV. Brighton Jones LLC boosted its stake in shares of Travelers Companies by 13.4% in the fourth quarter. Brighton Jones LLC now owns 3,277 shares of the insurance provider’s stock valued at $789,000 after buying an additional 387 shares during the period. Revolve Wealth Partners LLC bought a new position in shares of Travelers Companies in the 4th quarter valued at $276,000. WINTON GROUP Ltd bought a new position in Travelers Companies in the 2nd quarter valued at approximately $382,000. CIBC Asset Management Inc lifted its stake in Travelers Companies by 13.9% in the 2nd quarter. CIBC Asset Management Inc now owns 68,537 shares of the insurance provider’s stock valued at $18,336,000 after purchasing an additional 8,383 shares during the last quarter. Finally, Treasurer of the State of North Carolina grew its stake in shares of Travelers Companies by 2.0% during the second quarter. Treasurer of the State of North Carolina now owns 105,605 shares of the insurance provider’s stock worth $28,254,000 after buying an additional 2,117 shares during the last quarter. Institutional investors and hedge funds own 82.45% of the company’s stock.

Travelers Companies Stock Up 1.2%

Shares of TRV opened at $320.77 on Thursday. The stock’s 50-day moving average price is $302.31 and its two-hundred day moving average price is $295.68. The Travelers Companies, Inc. has a 12 month low of $249.19 and a 12 month high of $323.00. The company has a market capitalization of $68.21 billion, a PE ratio of 9.54, a PEG ratio of 2.86 and a beta of 0.48. The company has a current ratio of 0.35, a quick ratio of 0.35 and a debt-to-equity ratio of 0.29.

Travelers Companies (NYSE:TRV) last announced its earnings results on Thursday, April 16th. The insurance provider reported $7.71 EPS for the quarter, beating the consensus estimate of $6.80 by $0.91. Travelers Companies had a return on equity of 24.06% and a net margin of 15.54%.The business had revenue of $11.92 billion for the quarter, compared to analysts’ expectations of $11.11 billion. During the same period in the prior year, the business posted $1.91 earnings per share. The firm’s revenue was down 1.7% on a year-over-year basis. On average, analysts anticipate that The Travelers Companies, Inc. will post 28 EPS for the current year.

Travelers Companies Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Wednesday, June 10th will be paid a dividend of $1.25 per share. This is an increase from Travelers Companies’s previous quarterly dividend of $1.10. The ex-dividend date of this dividend is Wednesday, June 10th. This represents a $5.00 dividend on an annualized basis and a yield of 1.6%. Travelers Companies’s dividend payout ratio (DPR) is currently 14.88%.

Analysts Set New Price Targets

TRV has been the topic of several recent research reports. Piper Sandler raised their price objective on Travelers Companies from $329.00 to $340.00 and gave the company an “overweight” rating in a report on Tuesday, May 26th. Roth Mkm reissued a “buy” rating on shares of Travelers Companies in a research note on Monday, April 20th. Brean Capital initiated coverage on Travelers Companies in a report on Thursday, March 12th. They set a “neutral” rating on the stock. Seaport Research Partners set a $322.00 price objective on Travelers Companies in a research note on Tuesday, May 26th. Finally, Barclays lowered shares of Travelers Companies from an “equal weight” rating to an “underweight” rating and dropped their price objective for the company from $331.00 to $295.00 in a report on Friday, June 12th. Two research analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating, ten have issued a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $309.07.

Insiders Place Their Bets

In related news, EVP Michael Frederick Klein sold 10,000 shares of Travelers Companies stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $307.65, for a total transaction of $3,076,500.00. Following the transaction, the executive vice president 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Avrohom J. Kess sold 6,735 shares of the stock in a transaction dated Tuesday, April 28th. The shares were sold at an average price of $308.78, for a total transaction of $2,079,633.30. Following the completion of the sale, the insider owned 48,737 shares of the company’s stock, valued at approximately $15,049,010.86. This represents a 12.14% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 37,573 shares of company stock worth $11,504,146 in the last quarter. 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.