Connor Clark & Lunn Investment Management Ltd. Takes $82.11 Million Position in The Travelers Companies, Inc. $TRV

Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of The Travelers Companies, Inc. (NYSE:TRV) in the 2nd quarter, Holdings Channel reports. The fund acquired 248,742 shares of the insurance provider’s stock, valued at approximately $82,115,000.

A number of other hedge funds have also modified their holdings of TRV. LifeSteps Financial Inc. acquired a new position in Travelers Companies during the 2nd quarter worth approximately $26,000. Kilter Group LLC acquired a new stake in shares of Travelers Companies in the second quarter valued at approximately $26,000. HHM Wealth Advisors LLC raised its holdings in shares of Travelers Companies by 145.7% in the first quarter. HHM Wealth Advisors LLC now owns 86 shares of the insurance provider’s stock valued at $25,000 after purchasing an additional 51 shares during the last quarter. Kemnay Advisory Services Inc. bought a new stake in shares of Travelers Companies in the fourth quarter worth $26,000. Finally, Whipplewood Advisors LLC acquired a new position in Travelers Companies during the first quarter worth $26,000. 82.45% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on TRV shares. Evercore set a $329.00 target price on shares of Travelers Companies and gave the company an “in-line” rating in a research report on Friday, July 10th. HSBC boosted their price target on shares of Travelers Companies from $321.00 to $351.00 and gave the stock a “hold” rating in a research report on Monday, July 6th. Wells Fargo & Company raised their price objective on Travelers Companies from $295.00 to $334.00 and gave the company an “equal weight” rating in a report on Thursday, July 9th. Barclays lifted their target price on Travelers Companies from $295.00 to $318.00 and gave the company an “underweight” rating in a research report on Tuesday, July 21st. Finally, Morgan Stanley upped 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. Four analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating, thirteen have given a Hold rating and five have issued a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $354.26.

Insider Buying and Selling

In related news, EVP Diane Kurtzman sold 4,164 shares of the stock in a transaction on Friday, July 24th. The stock was sold at an average price of $386.71, for a total value of $1,610,260.44. Following the sale, the executive vice president owned 5,298 shares in the company, valued at approximately $2,048,789.58. This represents a 44.01% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Michael Frederick Klein sold 6,000 shares of the stock in a transaction on Tuesday, July 21st. The shares were sold at an average price of $366.09, for a total value of $2,196,540.00. Following the completion of the sale, the executive vice president owned 45,125 shares in the company, valued at approximately $16,519,811.25. This trade represents a 11.74% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 62,667 shares of company stock valued at $22,688,329. Insiders own 1.39% of the company’s stock.

Travelers Companies Stock Up 0.1%

Travelers Companies stock opened at $363.83 on Monday. 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 company’s 50-day moving average is $352.28 and its 200-day moving average is $318.35. The firm has a market capitalization of $75.89 billion, a PE ratio of 9.74, a P/E/G ratio of 3.46 and a beta of 0.45. The Travelers Companies, Inc. has a fifty-two week low of $252.26 and a fifty-two week high of $398.70.

Travelers Companies (NYSE:TRV) last issued its earnings results on Friday, July 17th. The insurance provider reported $10.04 earnings per share (EPS) 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 business had revenue of $12.15 billion during the quarter, compared to the consensus estimate of $11.26 billion. During the same period last year, the business posted $6.51 EPS. Travelers Companies’s revenue was up .3% on a year-over-year basis. Sell-side analysts anticipate that The Travelers Companies, Inc. will post 33.82 earnings per share for the current year.

Travelers Companies Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Thursday, September 10th will be given 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 of this dividend is Thursday, September 10th. Travelers Companies’s dividend payout ratio (DPR) is presently 13.39%.

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.