Pinnacle Holdings LLC Purchases Shares of 10,754 The Travelers Companies, Inc. $TRV

Pinnacle Holdings LLC acquired a new position in shares of The Travelers Companies, Inc. (NYSE:TRV) in the 2nd quarter, Holdings Channel reports. The institutional investor acquired 10,754 shares of the insurance provider’s stock, valued at approximately $3,550,000. Travelers Companies comprises approximately 1.1% of Pinnacle Holdings LLC’s investment portfolio, making the stock its 26th biggest holding.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Barrow Hanley Mewhinney & Strauss LLC bought a new stake in shares of Travelers Companies in the 2nd quarter worth about $4,447,000. Haverford Financial Services Inc. bought a new position in Travelers Companies during the 2nd quarter valued at about $7,047,000. Twin Tree Management LP bought a new position in Travelers Companies during the 2nd quarter valued at about $3,460,000. Haverford Trust Co acquired a new position in Travelers Companies in the second quarter valued at about $1,723,000. Finally, Clear Harbor Asset Management LLC acquired a new position in Travelers Companies in the second quarter valued at about $987,000. 82.45% of the stock is owned by institutional investors.

Travelers Companies Stock Up 0.1%

Shares of NYSE:TRV opened at $363.83 on Monday. The Travelers Companies, Inc. has a 12 month low of $252.26 and a 12 month high of $398.70. The company’s 50-day moving average price is $352.28 and its two-hundred day moving average price is $318.35. The company has a quick ratio of 0.33, a current ratio of 0.33 and a debt-to-equity ratio of 0.27. The firm has a market cap of $75.89 billion, a P/E ratio of 9.74, a P/E/G ratio of 3.46 and a beta of 0.45.

Travelers Companies (NYSE:TRV) last posted its quarterly earnings data on Friday, July 17th. The insurance provider reported $10.04 earnings per share 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 firm had revenue of $12.15 billion during the quarter, compared to analysts’ expectations of $11.26 billion. During the same quarter last year, the company posted $6.51 EPS. The company’s quarterly revenue was up .3% compared to the same quarter last year. As a group, research analysts forecast that The Travelers Companies, Inc. will post 33.82 EPS for the current fiscal year.

Travelers Companies Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Thursday, September 10th will be issued a $1.25 dividend. The ex-dividend date of this dividend is Thursday, September 10th. This represents a $5.00 dividend on an annualized basis and a dividend yield of 1.4%. Travelers Companies’s dividend payout ratio (DPR) is currently 13.39%.

Insiders Place Their Bets

In related news, EVP Daniel Tei-Hwa Yin sold 7,153 shares of the business’s stock in a transaction that occurred on Friday, July 24th. The shares were sold at an average price of $387.00, for a total value of $2,768,211.00. Following the completion of the transaction, the executive vice president owned 68,834 shares in the company, valued at $26,638,758. The trade was a 9.41% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Daniel S. Frey sold 14,037 shares of the company’s stock in a transaction on Tuesday, July 21st. The stock was 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 in the company, valued at approximately $10,139,488.40. This represents a 33.77% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 62,667 shares of company stock valued at $22,688,329 over the last quarter. Company insiders own 1.39% of the company’s stock.

Wall Street Analyst Weigh In

TRV has been the subject of several recent analyst reports. Truist Financial raised their price objective on shares of Travelers Companies from $395.00 to $425.00 and gave the stock a “buy” rating in a report on Monday, July 20th. The Goldman Sachs Group downgraded Travelers Companies from a “neutral” rating to a “sell” rating and set a $350.00 target price on the stock. in a report on Monday, July 20th. Morgan Stanley boosted their target price on Travelers Companies from $290.00 to $330.00 and gave the stock an “underweight” rating in a report on Tuesday, July 21st. Cantor Fitzgerald increased their price target on Travelers Companies from $335.00 to $360.00 and gave the stock an “overweight” rating in a research report on Thursday, July 9th. Finally, Evercore set a $329.00 price target on Travelers Companies and gave the company an “in-line” rating in a report on Friday, July 10th. Four investment 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 data from MarketBeat, Travelers Companies has an average rating of “Hold” and an average price target of $354.26.

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.