Legal & General Group Plc Acquires Shares of 1,690,790 The Travelers Companies, Inc. $TRV

Legal & General Group Plc bought a new position in shares of The Travelers Companies, Inc. (NYSE:TRV) during the 2nd quarter, HoldingsChannel.com reports. The institutional investor bought 1,690,790 shares of the insurance provider’s stock, valued at approximately $558,164,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. LifeSteps Financial Inc. acquired a new position in Travelers Companies during the second quarter worth about $26,000. Kilter Group LLC acquired a new position in shares of Travelers Companies during the 2nd quarter worth approximately $26,000. HHM Wealth Advisors LLC grew its position in shares of Travelers Companies by 145.7% in the first quarter. HHM Wealth Advisors LLC now owns 86 shares of the insurance provider’s stock valued at $25,000 after purchasing an additional 51 shares in the last quarter. Kemnay Advisory Services Inc. acquired a new stake in shares of Travelers Companies in the fourth quarter valued at approximately $26,000. Finally, Whipplewood Advisors LLC purchased a new position in Travelers Companies during the first quarter worth approximately $26,000. 82.45% of the stock is owned by hedge funds and other institutional investors.

Travelers Companies Trading Up 1.9%

NYSE TRV 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 stock has a market capitalization of $77.31 billion, a P/E ratio of 9.93, a PEG ratio of 3.46 and a beta of 0.45. The firm’s 50-day moving average is $353.55 and its two-hundred day moving average is $318.93. The Travelers Companies, Inc. has a 12 month low of $252.26 and a 12 month high of $398.70.

Travelers Companies (NYSE:TRV) last announced its quarterly earnings results on Friday, July 17th. The insurance provider reported $10.04 earnings per share for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $11.26 billion. During the same period last year, the business earned $6.51 earnings per share. The business’s revenue for the quarter was up .3% on a year-over-year basis. On average, sell-side analysts anticipate that The Travelers Companies, Inc. will post 33.82 earnings per share for the current year.

Travelers Companies Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Thursday, September 10th will be paid a dividend of $1.25 per share. This represents a $5.00 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date is Thursday, September 10th. Travelers Companies’s dividend payout ratio is 13.39%.

Analysts Set New Price Targets

Several analysts have issued reports on TRV shares. Cantor Fitzgerald upped their target price on Travelers Companies from $335.00 to $360.00 and gave the company an “overweight” rating in a report on Thursday, July 9th. Zacks Research raised shares of Travelers Companies from a “hold” rating to a “strong-buy” rating in a report on Wednesday, July 29th. BMO Capital Markets cut shares of Travelers Companies from an “outperform” rating to a “market perform” rating and raised their price objective for the stock from $314.00 to $379.00 in a research report on Tuesday, July 21st. JPMorgan Chase & Co. raised shares of Travelers Companies from an “underweight” rating to a “neutral” rating and lifted their target price for the stock from $316.00 to $322.00 in a research note on Tuesday, May 26th. Finally, Truist Financial boosted their target price on shares of Travelers Companies from $395.00 to $425.00 and gave the company a “buy” rating in a report on Monday, July 20th. Four equities research analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating, thirteen have issued a Hold rating and five have given a Sell rating to the company. According to MarketBeat.com, Travelers Companies currently has an average rating of “Hold” and an average target price of $354.26.

Insider Activity at Travelers Companies

In related news, EVP Daniel Tei-Hwa Yin sold 7,153 shares of the firm’s stock in a transaction dated Friday, July 24th. The stock was sold at an average price of $387.00, for a total transaction of $2,768,211.00. Following the completion of the transaction, the executive vice president directly owned 68,834 shares in the company, valued at $26,638,758. This trade represents a 9.41% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Daniel S. Frey sold 14,037 shares of Travelers Companies stock in a transaction dated Tuesday, July 21st. The shares were sold at an average price of $368.24, for a total value of $5,168,984.88. Following the completion of the transaction, the chief financial officer directly owned 27,535 shares of the company’s stock, valued at approximately $10,139,488.40. This represents a 33.77% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 52,667 shares of company stock valued at $19,611,829 over the last ninety days. 1.39% of the stock is owned by insiders.

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.