Perigon Wealth Management LLC Makes New $13.89 Million Investment in The Travelers Companies, Inc. $TRV

Perigon Wealth Management LLC bought a new stake in The Travelers Companies, Inc. (NYSE:TRV) during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 42,067 shares of the insurance provider’s stock, valued at approximately $13,887,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Norges Bank acquired a new stake in shares of Travelers Companies in the 4th quarter worth about $723,339,000. Bank of New York Mellon Corp bought a new position in Travelers Companies in the 2nd quarter worth about $469,505,000. Mitsubishi UFJ Asset Management Co. Ltd. bought a new position in Travelers Companies in the 2nd quarter worth about $205,539,000. State Street Corp increased its stake in shares of Travelers Companies by 3.1% in the fourth quarter. State Street Corp now owns 16,000,457 shares of the insurance provider’s stock valued at $4,641,093,000 after purchasing an additional 486,861 shares during the period. Finally, AustralianSuper Pty Ltd raised its holdings in shares of Travelers Companies by 102.0% during the fourth quarter. AustralianSuper Pty Ltd now owns 908,559 shares of the insurance provider’s stock valued at $263,537,000 after buying an additional 458,746 shares during the last quarter. Institutional investors and hedge funds own 82.45% of the company’s stock.

Insider Buying and Selling

In other news, EVP Michael Frederick Klein sold 6,000 shares of the company’s stock in a transaction on Tuesday, July 21st. The stock was sold at an average price of $366.09, for a total value of $2,196,540.00. Following the completion of the sale, the executive vice president owned 45,125 shares in the company, valued at $16,519,811.25. This represents a 11.74% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CFO Daniel S. Frey sold 14,037 shares of the firm’s 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 transaction, the chief financial officer directly owned 27,535 shares of the company’s stock, valued at $10,139,488.40. This represents a 33.77% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 62,667 shares of company stock worth $22,688,329. 1.39% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. HSBC boosted their price objective on Travelers Companies from $321.00 to $351.00 and gave the stock a “hold” rating in a research report on Monday, July 6th. Roth Capital lifted their target price on Travelers Companies from $345.00 to $425.00 and gave the company a “buy” rating in a research note on Tuesday, July 21st. Mizuho lifted their target price on Travelers Companies from $324.00 to $343.00 and gave the company a “neutral” rating in a research note on Friday, July 24th. Zacks Research upgraded Travelers Companies from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, July 29th. Finally, Piper Sandler increased their price target on Travelers Companies to $340.00 and gave the stock an “overweight” rating in a research note on Monday, July 13th. Four analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating, thirteen have issued a Hold rating and five have issued a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $354.26.

Travelers Companies Trading Down 1.6%

Shares of NYSE:TRV opened at $364.50 on Tuesday. The company has a 50 day moving average of $347.35 and a 200-day moving average of $316.08. The firm has a market cap of $76.03 billion, a P/E ratio of 9.76, a P/E/G ratio of 3.52 and a beta of 0.45. The Travelers Companies, Inc. has a twelve month low of $252.26 and a twelve month high of $398.70. The company has a current ratio of 0.33, a quick ratio of 0.33 and a debt-to-equity ratio of 0.27.

Travelers Companies (NYSE:TRV) last posted its quarterly earnings data on Friday, July 17th. The insurance provider reported $10.04 earnings per share (EPS) for the quarter, beating the consensus estimate 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 firm posted $6.51 earnings per share. The business’s revenue was up .3% on a year-over-year basis. As a group, analysts anticipate 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 declared a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Thursday, September 10th will be given a dividend of $1.25 per share. The ex-dividend date is Thursday, September 10th. This represents a $5.00 annualized dividend and a dividend yield of 1.4%. Travelers Companies’s dividend payout ratio (DPR) is 13.39%.

Travelers Companies 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.