Patron Partners LLC Buys New Position in The Travelers Companies, Inc. $TRV

Patron Partners LLC purchased a new position in shares of The Travelers Companies, Inc. (NYSE:TRV) during the 2nd quarter, Holdings Channel.com reports. The institutional investor purchased 2,674 shares of the insurance provider’s stock, valued at approximately $590,000.

A number of other institutional investors have also recently made changes to their positions in the business. BlackRock Inc. purchased a new stake in Travelers Companies during the 2nd quarter worth approximately $6,915,909,000. Norges Bank purchased a new position in Travelers Companies in the 4th quarter valued at approximately $723,339,000. Bank of New York Mellon Corp acquired a new position in shares of Travelers Companies in the second quarter worth $469,505,000. Deutsche Bank AG purchased a new stake in shares of Travelers Companies during the second quarter worth $301,772,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. purchased a new stake in shares of Travelers Companies during the second quarter worth $205,539,000. Institutional investors and hedge funds own 82.45% of the company’s stock.

Insider Activity

In related news, EVP David Donnay Rowland sold 5,000 shares of the company’s stock in a transaction that occurred on Wednesday, July 22nd. The stock was sold at an average price of $371.69, for a total value of $1,858,450.00. Following the completion of the transaction, the executive vice president directly owned 10,479 shares of the company’s stock, valued at $3,894,939.51. This represents a 32.30% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Daniel S. Frey sold 14,037 shares of the stock in a transaction that occurred on Tuesday, July 21st. The shares were sold at an average price of $368.24, for a total transaction of $5,168,984.88. Following the completion of the transaction, the chief financial officer owned 27,535 shares in the company, valued at $10,139,488.40. This represents a 33.77% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 62,667 shares of company stock valued at $22,688,329 over the last 90 days. Insiders own 1.39% of the company’s stock.

Travelers Companies Stock Performance

NYSE:TRV opened at $363.83 on Friday. The firm has a market capitalization of $75.88 billion, a PE ratio of 9.74, a price-to-earnings-growth ratio of 3.46 and a beta of 0.45. The business’s fifty day moving average price is $352.28 and its 200 day moving average price is $318.12. 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 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 (EPS) for the quarter, topping analysts’ consensus estimates of $5.41 by $4.63. The company had revenue of $12.15 billion during the quarter, compared to the consensus estimate of $11.26 billion. Travelers Companies had a return on equity of 25.41% and a net margin of 16.95%.Travelers Companies’s revenue for the quarter was up .3% on a year-over-year basis. During the same period in the previous year, the business earned $6.51 EPS. On average, sell-side analysts anticipate that The Travelers Companies, Inc. will post 33.82 earnings per share for the current fiscal year.

Travelers Companies Dividend Announcement

The firm also recently announced 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. This represents a $5.00 annualized dividend and a dividend yield of 1.4%. The ex-dividend date of this dividend is Thursday, September 10th. Travelers Companies’s dividend payout ratio (DPR) is 13.39%.

Wall Street Analyst Weigh In

TRV has been the subject of a number of recent research reports. Citigroup reiterated a “market perform” rating on shares of Travelers Companies in a report on Monday, July 20th. Seaport Research Partners set a $322.00 price target on Travelers Companies in a report on Tuesday, May 26th. Piper Sandler increased their price target on Travelers Companies to $340.00 and gave the company an “overweight” rating in a research report on Monday, July 13th. Wells Fargo & Company lifted their price objective on Travelers Companies from $295.00 to $334.00 and gave the company an “equal weight” rating in a research note on Thursday, July 9th. Finally, Deutsche Bank Aktiengesellschaft reissued a “hold” rating on shares of Travelers Companies in a research report on Tuesday, July 21st. Four equities research analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating, thirteen have assigned a Hold rating and five have assigned a Sell rating to the company. According to data from MarketBeat, Travelers Companies presently has an average rating of “Hold” and an average target price 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.