L2 Asset Management LLC Takes Position in The Travelers Companies, Inc. $TRV

L2 Asset Management LLC acquired a new stake in shares of The Travelers Companies, Inc. (NYSE:TRV) during the second quarter, according to its most recent filing with the SEC. The fund acquired 3,310 shares of the insurance provider’s stock, valued at approximately $730,000.

A number of other institutional investors have also added to or reduced their stakes in TRV. HHM Wealth Advisors LLC increased its position in shares of Travelers Companies by 145.7% during the first quarter. HHM Wealth Advisors LLC now owns 86 shares of the insurance provider’s stock valued at $25,000 after buying an additional 51 shares during the period. Whipplewood Advisors LLC bought a new position in shares of Travelers Companies in the first quarter valued at approximately $26,000. LifeSteps Financial Inc. bought a new position in shares of Travelers Companies in the second quarter valued at approximately $26,000. Kilter Group LLC purchased a new position in Travelers Companies during the second quarter valued at approximately $26,000. Finally, Kemnay Advisory Services Inc. bought a new stake in Travelers Companies during the 4th quarter worth approximately $26,000. Hedge funds and other institutional investors own 82.45% of the company’s stock.

Analyst Upgrades and Downgrades

TRV has been the topic of several recent analyst reports. JPMorgan Chase & Co. upgraded shares of Travelers Companies from an “underweight” rating to a “neutral” rating and increased their target price for the stock from $316.00 to $322.00 in a research note on Tuesday, May 26th. TD Cowen lowered shares of Travelers Companies from a “hold” rating to a “sell” rating and set a $297.00 price target for the company. in a research report on Monday, July 13th. Bank of America upped their price target on shares of Travelers Companies from $283.00 to $307.00 and gave the stock an “underperform” rating in a report on Monday, July 20th. Cantor Fitzgerald lifted their price objective on Travelers Companies from $335.00 to $360.00 and gave the company an “overweight” rating in a research note on Thursday, July 9th. Finally, HSBC lifted their price objective on Travelers Companies from $321.00 to $351.00 and gave the company a “hold” rating in a research note on Monday, July 6th. Four investment 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 assigned a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $354.26.

Travelers Companies Trading Up 1.9%

Shares of Travelers Companies stock opened at $370.65 on Tuesday. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.33 and a quick ratio of 0.33. The Travelers Companies, Inc. has a 1 year low of $252.26 and a 1 year high of $398.70. The firm has a market cap of $77.31 billion, a PE ratio of 9.93, a PEG ratio of 3.46 and a beta of 0.45. The company has a 50 day simple moving average of $353.55 and a two-hundred day simple moving average of $318.93.

Travelers Companies (NYSE:TRV) last issued its quarterly earnings results on Friday, July 17th. The insurance provider reported $10.04 EPS for the quarter, topping analysts’ consensus estimates of $5.41 by $4.63. The firm had revenue of $12.15 billion for the quarter, compared to analyst estimates of $11.26 billion. Travelers Companies had a net margin of 16.95% and a return on equity of 25.41%. The business’s revenue for the quarter was up .3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $6.51 EPS. Analysts expect that The Travelers Companies, Inc. will post 33.82 earnings per share for the current fiscal year.

Travelers Companies Announces Dividend

The company 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 $1.25 dividend. This represents a $5.00 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date of this dividend is Thursday, September 10th. Travelers Companies’s dividend payout ratio is currently 13.39%.

Insiders Place Their Bets

In other Travelers Companies news, CFO Daniel S. Frey sold 14,037 shares of the firm’s stock in a transaction dated 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 owned 27,535 shares in the company, valued at $10,139,488.40. This trade represents a 33.77% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Mojgan M. Lefebvre sold 16,313 shares of Travelers Companies stock in a transaction dated Tuesday, July 21st. The stock was sold at an average price of $368.38, for a total value of $6,009,382.94. Following the sale, the executive vice president directly owned 9,213 shares of the company’s stock, valued at approximately $3,393,884.94. This trade represents a 63.91% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 52,667 shares of company stock valued at $19,611,829 over 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.