Korea Investment CORP Invests $66.03 Million in The Travelers Companies, Inc. $TRV

Korea Investment CORP acquired a new position in shares of The Travelers Companies, Inc. (NYSE:TRV) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 200,023 shares of the insurance provider’s stock, valued at approximately $66,032,000. Korea Investment CORP owned 0.10% of Travelers Companies as of its most recent SEC filing.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Vanguard Group Inc. lifted its stake in Travelers Companies by 0.5% in the fourth quarter. Vanguard Group Inc. now owns 22,109,933 shares of the insurance provider’s stock valued at $6,413,207,000 after buying an additional 110,311 shares during the period. BlackRock Inc. bought a new stake in shares of Travelers Companies in the 2nd quarter valued at about $6,915,909,000. State Street Corp boosted its stake in Travelers Companies by 3.1% during the 4th quarter. State Street Corp now owns 16,000,457 shares of the insurance provider’s stock worth $4,641,093,000 after acquiring an additional 486,861 shares during the last quarter. Morgan Stanley boosted its stake in Travelers Companies by 2.3% during the 4th quarter. Morgan Stanley now owns 3,793,750 shares of the insurance provider’s stock worth $1,100,416,000 after acquiring an additional 85,298 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in Travelers Companies by 3.7% in 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. Institutional investors own 82.45% of the company’s stock.

Travelers Companies Stock Down 0.2%

Travelers Companies stock opened at $363.83 on Friday. The company has a 50 day moving average of $352.28 and a 200-day moving average of $318.12. 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 Travelers Companies, Inc. has a twelve month low of $252.26 and a twelve month high of $398.70. The stock 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.

Travelers Companies (NYSE:TRV) last issued its quarterly earnings data on Friday, July 17th. The insurance provider reported $10.04 EPS for the quarter, topping analysts’ consensus estimates of $5.41 by $4.63. The business had revenue of $12.15 billion for the quarter, compared to analyst estimates of $11.26 billion. Travelers Companies had a net margin of 16.95% and a return on equity of 25.41%. The firm’s quarterly revenue was up .3% on a year-over-year basis. During the same period last year, the business posted $6.51 earnings per share. On average, equities research analysts anticipate that The Travelers Companies, Inc. will post 33.82 EPS for the current fiscal year.

Travelers Companies Dividend Announcement

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 issued a $1.25 dividend. This represents a $5.00 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date is Thursday, September 10th. Travelers Companies’s payout ratio is 13.39%.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the stock. JPMorgan Chase & Co. raised shares of Travelers Companies from an “underweight” rating to a “neutral” rating and lifted their price target for the stock from $316.00 to $322.00 in a research report on Tuesday, May 26th. Truist Financial upped their price objective on shares of Travelers Companies from $395.00 to $425.00 and gave the company a “buy” rating in a research report on Monday, July 20th. TD Cowen downgraded Travelers Companies from a “hold” rating to a “sell” rating and set a $297.00 price objective on the stock. in a research note on Monday, July 13th. Bank of America lifted their target price on Travelers Companies from $283.00 to $307.00 and gave the stock an “underperform” rating in a report on Monday, July 20th. Finally, Citigroup reissued a “market perform” rating on shares of Travelers Companies in a research note on Monday, July 20th. Four analysts have rated the stock with a Strong Buy rating, four have given a Buy rating, thirteen have issued a Hold rating and five have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $354.26.

Insider Buying and Selling

In other news, EVP Michael Frederick Klein sold 6,000 shares of the company’s stock in a transaction dated Tuesday, July 21st. The stock was sold at an average price of $366.09, for a total transaction of $2,196,540.00. Following the completion of the transaction, the executive vice president directly owned 45,125 shares of the company’s stock, valued at $16,519,811.25. This represents a 11.74% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP David Donnay Rowland sold 5,000 shares of the stock in a transaction dated 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 transaction, the executive vice president owned 10,479 shares of the company’s stock, valued at approximately $3,894,939.51. The trade was a 32.30% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 62,667 shares of company stock valued at $22,688,329. Corporate insiders own 1.39% of the company’s stock.

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.