Heritage Wealth Advisors Trims Stake in The Travelers Companies, Inc. $TRV

Heritage Wealth Advisors lowered its position in shares of The Travelers Companies, Inc. (NYSE:TRV) by 65.2% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 207 shares of the insurance provider’s stock after selling 387 shares during the quarter. Heritage Wealth Advisors’ holdings in Travelers Companies were worth $55,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of TRV. Greykasell Wealth Strategies Inc. purchased a new stake in Travelers Companies during the 1st quarter valued at $26,000. Missouri Trust & Investment Co lifted its position in shares of Travelers Companies by 122.2% in the second quarter. Missouri Trust & Investment Co now owns 100 shares of the insurance provider’s stock valued at $27,000 after acquiring an additional 55 shares in the last quarter. Quaker Wealth Management LLC grew its holdings in Travelers Companies by 200.0% during the 2nd quarter. Quaker Wealth Management LLC now owns 104 shares of the insurance provider’s stock valued at $28,000 after buying an additional 208 shares in the last quarter. Flaharty Asset Management LLC bought a new stake in Travelers Companies in the 1st quarter valued at $32,000. Finally, Nova Wealth Management Inc. bought a new stake in Travelers Companies in the 2nd quarter worth approximately $32,000. 82.45% of the stock is owned by hedge funds and other institutional investors.

Travelers Companies Price Performance

Shares of NYSE TRV opened at $287.14 on Wednesday. The company has a debt-to-equity ratio of 0.29, a current ratio of 0.35 and a quick ratio of 0.35. The stock has a market capitalization of $64.05 billion, a price-to-earnings ratio of 11.29, a PEG ratio of 2.38 and a beta of 0.55. The firm’s 50 day simple moving average is $275.75 and its 200-day simple moving average is $269.99. The Travelers Companies, Inc. has a 12 month low of $230.23 and a 12 month high of $290.61.

Travelers Companies (NYSE:TRV) last announced its quarterly 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 firm had revenue of $12.47 billion for the quarter, compared to the consensus estimate of $11.15 billion. Travelers Companies had a net margin of 12.14% and a return on equity of 20.28%. During the same period in the prior year, the firm posted $5.24 earnings per share. The firm’s quarterly revenue was up 4.8% compared to the same quarter last year. Analysts expect that The Travelers Companies, Inc. will post 17.02 EPS for the current year.

Travelers Companies Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 31st. Stockholders of record on Wednesday, December 10th will be paid a dividend of $1.10 per share. This represents a $4.40 annualized dividend and a dividend yield of 1.5%. The ex-dividend date of this dividend is Wednesday, December 10th. Travelers Companies’s dividend payout ratio is presently 17.30%.

Insiders Place Their Bets

In related news, CFO Daniel S. Frey sold 25,000 shares of Travelers Companies stock in a transaction on Thursday, November 6th. The shares were sold at an average price of $278.25, for a total value of $6,956,250.00. Following the sale, the chief financial officer owned 26,932 shares of the company’s stock, valued at approximately $7,493,829. This trade represents a 48.14% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Mojgan M. Lefebvre sold 16,820 shares of the company’s stock in a transaction on Friday, August 22nd. The stock was sold at an average price of $277.54, for a total transaction of $4,668,222.80. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 54,195 shares of company stock worth $15,042,229. Corporate insiders own 1.46% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have commented on TRV. Citigroup started coverage on Travelers Companies in a research report on Wednesday, August 13th. They issued a “neutral” rating and a $291.00 price objective on the stock. Cantor Fitzgerald upgraded shares of Travelers Companies to a “strong-buy” rating in a report on Wednesday, August 13th. Piper Sandler raised 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. Evercore ISI reissued an “outperform” rating on shares of Travelers Companies in a research report on Wednesday, October 1st. Finally, The Goldman Sachs Group reissued a “buy” rating on shares of Travelers Companies in a report on Friday, October 17th. Two research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating, eleven have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $291.94.

Travelers Companies Company Profile

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.