Cannell & Spears LLC Purchases 17,925 Shares of The Travelers Companies, Inc. $TRV

Cannell & Spears LLC lifted its position in shares of The Travelers Companies, Inc. (NYSE:TRV) by 2,000.6% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 18,821 shares of the insurance provider’s stock after acquiring an additional 17,925 shares during the period. Cannell & Spears LLC’s holdings in Travelers Companies were worth $5,492,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in TRV. Vanguard Group Inc. lifted its position in Travelers Companies by 0.5% in the 4th quarter. Vanguard Group Inc. now owns 22,109,933 shares of the insurance provider’s stock valued at $6,413,207,000 after acquiring an additional 110,311 shares in the last quarter. State Street Corp raised 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 worth $4,641,093,000 after purchasing an additional 486,861 shares during the last quarter. Morgan Stanley raised its stake in shares of Travelers Companies by 2.3% in the fourth quarter. Morgan Stanley now owns 3,793,750 shares of the insurance provider’s stock worth $1,100,416,000 after purchasing an additional 85,298 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Travelers Companies by 3.7% during the first quarter. Dimensional Fund Advisors LP now owns 3,484,676 shares of the insurance provider’s stock valued at $1,016,433,000 after purchasing an additional 123,564 shares in the last quarter. Finally, Norges Bank purchased a new stake in shares of Travelers Companies during the fourth quarter valued at $723,339,000. 82.45% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on TRV. Piper Sandler boosted their target price on Travelers Companies to $340.00 and gave the stock an “overweight” rating in a research report on Monday, July 13th. Weiss Ratings reaffirmed a “buy (a-)” rating on shares of Travelers Companies in a report on Friday, May 8th. Truist Financial lifted their price target on shares of Travelers Companies from $395.00 to $425.00 and gave the stock a “buy” rating in a research note on Monday, July 20th. The Goldman Sachs Group downgraded shares of Travelers Companies from a “neutral” rating to a “sell” rating and set a $350.00 price objective on the stock. in a research report on Monday, July 20th. Finally, Deutsche Bank Aktiengesellschaft restated a “hold” rating on shares of Travelers Companies in a report on Tuesday. Three investment analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating, fourteen have issued a Hold rating and five have assigned a Sell rating to the company’s stock. According to data from MarketBeat, Travelers Companies currently has a consensus rating of “Hold” and an average target price of $354.26.

Insider Buying and Selling at Travelers Companies

In other Travelers Companies news, insider Avrohom J. Kess sold 6,735 shares of the company’s stock in a transaction dated Tuesday, April 28th. The stock was sold at an average price of $308.78, for a total value of $2,079,633.30. Following the completion of the sale, the insider owned 48,737 shares in the company, valued at $15,049,010.86. This represents a 12.14% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Michael Frederick Klein sold 10,000 shares of the firm’s stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $307.65, for a total value of $3,076,500.00. Following the completion of the transaction, the executive vice president directly owned 45,125 shares in the company, valued at $13,882,706.25. This trade represents a 18.14% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 18,292 shares of company stock valued at $5,639,800. Company insiders own 1.39% of the company’s stock.

Key Stories Impacting Travelers Companies

Here are the key news stories impacting Travelers Companies this week:

• Positive Sentiment: Analyst coverage remained constructive, with Morgan Stanley and other firms highlighting potential upside, while a recent Zacks note said Travelers’ shares hit a 52-week high and questioned whether the run can continue. Morgan Stanley Forecasts Strong Price Appreciation for Travelers Companies (NYSE:TRV) Stock The Travelers Companies, Inc. (TRV) Hit a 52 Week High, Can the Run Continue?
• Positive Sentiment: AM Best assigned an “a+” issue credit rating with a stable outlook to Travelers’ new $750 million senior unsecured notes, signaling confidence in the company’s credit quality and access to capital. AM Best Assigns Issue Credit Rating to The Travelers Companies, Inc. New Senior Unsecured Notes
• Positive Sentiment: Travelers priced $750 million of 4.95% senior notes due 2031, which adds funding for general corporate purposes and appears manageable given the company’s strong balance sheet. Travelers Companies Prices $750 Million Senior Notes Offering
• Neutral Sentiment: Mizuho raised its price target to $343 from $324 but kept a neutral rating, suggesting the stock may have already moved ahead of near-term fundamentals. Mizuho price target update
• Negative Sentiment: Reports that several top Travelers executives sold company stock could weigh on sentiment, even if the transactions were routine. Top Travelers Executives Quietly Unload Millions in Company Stock
• Negative Sentiment: Deutsche Bank and UBS both reiterated hold-type views, reinforcing that some analysts see limited upside after the recent rally. Deutsche Bank Sticks to Its Hold Rating for Travelers Companies (TRV) UBS Releases a Hold Rating on Travelers Companies (TRV)

Travelers Companies Stock Performance

Shares of NYSE TRV opened at $387.42 on Friday. The Travelers Companies, Inc. has a 12-month low of $252.26 and a 12-month high of $389.11. The firm has a market capitalization of $80.80 billion, a price-to-earnings ratio of 10.38, a price-to-earnings-growth ratio of 3.76 and a beta of 0.46. The company has a current ratio of 0.33, a quick ratio of 0.35 and a debt-to-equity ratio of 0.27. The firm has a 50 day moving average of $322.06 and a 200 day moving average of $304.48.

Travelers Companies (NYSE:TRV) last issued its quarterly earnings results on Friday, July 17th. The insurance provider reported $10.04 earnings per share for the quarter, topping the consensus estimate of $5.41 by $4.63. The business had revenue of $12.15 billion for the quarter, compared to analysts’ expectations of $11.26 billion. Travelers Companies had a net margin of 16.95% and a return on equity of 25.41%. The company’s revenue was up .3% compared to the same quarter last year. During the same quarter last year, the company posted $6.51 EPS. On average, research analysts anticipate that The Travelers Companies, Inc. will post 32.15 earnings per share for the current year.

Travelers Companies Dividend Announcement

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

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.