Travelers Companies (NYSE:TRV) Reaches New 1-Year High – Here’s What Happened

The Travelers Companies, Inc. (NYSE:TRV)’s share price reached a new 52-week high on Friday . The company traded as high as $291.36 and last traded at $290.3410, with a volume of 105147 shares trading hands. The stock had previously closed at $287.85.

Wall Street Analysts Forecast Growth

TRV has been the subject of several research analyst reports. Piper Sandler increased their price objective on Travelers Companies from $320.00 to $322.00 and gave the stock an “overweight” rating in a research report on Friday, October 17th. The Goldman Sachs Group reaffirmed a “buy” rating on shares of Travelers Companies in a research note on Friday, October 17th. Wells Fargo & Company reiterated a “positive” rating on shares of Travelers Companies in a research note on Friday, October 17th. Barclays set a $313.00 target price on shares of Travelers Companies in a research report on Wednesday, October 8th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Travelers Companies from $289.00 to $297.00 and gave the company an “underweight” rating in a research report on Thursday, October 9th. Two investment analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating, ten have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $292.73.

Travelers Companies Stock Up 0.9%

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 firm’s 50-day moving average price is $276.18 and its 200 day moving average price is $270.22. The firm has a market capitalization of $64.81 billion, a price-to-earnings ratio of 11.43, a price-to-earnings-growth ratio of 2.38 and a beta of 0.55.

Travelers Companies (NYSE:TRV) last issued its quarterly earnings data on Thursday, October 16th. The insurance provider reported $8.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.01 by $2.13. The firm had revenue of $12.47 billion during the quarter, compared to the consensus estimate of $11.15 billion. Travelers Companies had a return on equity of 20.28% and a net margin of 12.14%.The company’s quarterly revenue was up 4.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $5.24 EPS. Sell-side analysts expect that The Travelers Companies, Inc. will post 17.02 EPS for the current year.

Travelers Companies Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 31st. Shareholders 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 (DPR) is currently 17.30%.

Insider Activity

In related news, Vice Chairman William H. Heyman sold 2,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 12th. The shares were sold at an average price of $287.50, for a total transaction of $575,000.00. Following the transaction, the insider owned 255,086 shares of the company’s stock, valued at approximately $73,337,225. This represents a 0.78% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Michael Frederick Klein sold 8,572 shares of Travelers Companies stock in a transaction that occurred on Tuesday, October 28th. The stock was sold at an average price of $270.73, for a total transaction of $2,320,697.56. Following the completion of the sale, the executive vice president directly owned 33,638 shares of the company’s stock, valued at $9,106,815.74. The trade was a 20.31% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 37,375 shares of company stock valued at $10,374,006 over the last 90 days. Insiders own 1.46% of the company’s stock.

Hedge Funds Weigh In On Travelers Companies

Several large investors have recently added to or reduced their stakes in TRV. Valeo Financial Advisors LLC boosted its holdings in shares of Travelers Companies by 71,265.9% in the 2nd quarter. Valeo Financial Advisors LLC now owns 3,616,826 shares of the insurance provider’s stock valued at $967,646,000 after purchasing an additional 3,611,758 shares during the last quarter. Norges Bank acquired a new position in Travelers Companies in the second quarter valued at $815,013,000. Nuveen LLC acquired a new position in Travelers Companies in the first quarter valued at $294,755,000. JPMorgan Chase & Co. increased its stake in Travelers Companies by 10.9% during the second quarter. JPMorgan Chase & Co. now owns 7,626,750 shares of the insurance provider’s stock worth $2,040,475,000 after acquiring an additional 751,715 shares during the last quarter. Finally, Bahl & Gaynor Inc. increased its stake in Travelers Companies by 41.2% during the first quarter. Bahl & Gaynor Inc. now owns 1,679,275 shares of the insurance provider’s stock worth $444,101,000 after acquiring an additional 490,039 shares during the last quarter. 82.45% of the stock is currently owned by hedge funds and other institutional investors.

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.