Freestone Grove Partners LP Makes New $33.61 Million Investment in The Travelers Companies, Inc. $TRV

Freestone Grove Partners LP bought a new stake in The Travelers Companies, Inc. (NYSE:TRV) during the second quarter, HoldingsChannel.com reports. The firm bought 152,453 shares of the insurance provider’s stock, valued at approximately $33,614,000.

A number of other institutional investors also recently modified their holdings of the business. Barrow Hanley Mewhinney & Strauss LLC acquired a new position in Travelers Companies during the second quarter worth about $4,447,000. Arbejdsmarkedets Tillaegspension bought a new position in shares of Travelers Companies in the fourth quarter worth about $24,167,000. Biondo Investment Advisors LLC acquired a new stake in shares of Travelers Companies in the 2nd quarter valued at approximately $13,649,000. Evolve Private Wealth LLC bought a new stake in shares of Travelers Companies during the 2nd quarter valued at approximately $987,000. Finally, Rit Capital Partners PLC bought a new stake in shares of Travelers Companies during the 4th quarter valued at approximately $39,450,000. Institutional investors and hedge funds own 82.45% of the company’s stock.

Insider Buying and Selling

In related news, EVP Michael Frederick Klein sold 6,000 shares of the stock in a transaction on Tuesday, July 21st. The stock was 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 directly owned 45,125 shares in the company, valued at $16,519,811.25. This represents a 11.74% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Daniel S. Frey sold 14,037 shares of the stock in a transaction on Tuesday, July 21st. The shares were sold at an average price of $368.24, for a total value of $5,168,984.88. Following the completion of the sale, the chief financial officer owned 27,535 shares of the company’s stock, valued at $10,139,488.40. The trade was a 33.77% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 52,667 shares of company stock valued at $19,611,829 over the last quarter. 1.39% of the stock is currently owned by company insiders.

Travelers Companies Stock Up 0.4%

Shares of NYSE TRV opened at $371.02 on Thursday. The company has a 50 day simple moving average of $356.08 and a 200 day simple moving average of $319.95. 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 1 year low of $252.26 and a 1 year high of $398.70. The firm has a market cap of $77.39 billion, a PE ratio of 9.94, a price-to-earnings-growth ratio of 3.51 and a beta of 0.45.

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

Travelers Companies Dividend Announcement

The firm 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 dividend of $1.25 per share. This represents a $5.00 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date is Thursday, September 10th. Travelers Companies’s payout ratio is 13.39%.

Analysts Set New Price Targets

Several brokerages recently commented on TRV. Bank of America increased their price objective on shares of Travelers Companies from $283.00 to $307.00 and gave the company an “underperform” rating in a research note on Monday, July 20th. TD Cowen cut shares of Travelers Companies from a “hold” rating to a “sell” rating and set a $297.00 target price on the stock. in a research note on Monday, July 13th. Weiss Ratings upgraded shares of Travelers Companies from a “buy (a-)” rating to a “buy (a)” rating in a report on Thursday, August 20th. HSBC increased their price target on Travelers Companies from $321.00 to $351.00 and gave the company a “hold” rating in a research note on Monday, July 6th. Finally, Evercore set a $329.00 price objective on Travelers Companies and gave the company an “in-line” rating in a report on Friday, July 10th. Four research analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating, thirteen have issued a Hold rating and five have given a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $354.26.

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.