Meeder Asset Management Inc. Invests $15.40 Million in The Travelers Companies, Inc. $TRV

Meeder Asset Management Inc. bought a new stake in The Travelers Companies, Inc. (NYSE:TRV) in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 46,656 shares of the insurance provider’s stock, valued at approximately $15,402,000. Travelers Companies accounts for 0.8% of Meeder Asset Management Inc.’s investment portfolio, making the stock its 29th largest holding.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Tiemann Investment Advisors LLC purchased a new stake in Travelers Companies during the 2nd quarter worth about $419,000. Citizens Financial Group Inc. RI acquired a new stake in Travelers Companies in the 2nd quarter valued at about $14,783,000. Texas Capital Bank Wealth Management Services Inc purchased a new position in shares of Travelers Companies in the 2nd quarter valued at about $614,000. Tortoise Investment Management LLC purchased a new position in shares of Travelers Companies in the 2nd quarter valued at about $320,000. Finally, Pavion Blue Capital LLC acquired a new position in shares of Travelers Companies during the second quarter worth about $569,000. 82.45% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on TRV shares. UBS Group upped their target price on shares of Travelers Companies from $314.00 to $350.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 8th. Wells Fargo & Company lifted their price target on shares of Travelers Companies from $295.00 to $334.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 9th. Weiss Ratings reiterated a “buy (a-)” rating on shares of Travelers Companies in a report on Wednesday, August 5th. Piper Sandler increased their price objective on shares of Travelers Companies to $340.00 and gave the company an “overweight” rating in a research report on Monday, July 13th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating on shares of Travelers Companies in a research report on Tuesday, July 21st. Four investment 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 given a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $354.26.

Insiders Place Their Bets

In related news, EVP Mojgan M. Lefebvre sold 16,313 shares of Travelers Companies stock in a transaction on Tuesday, July 21st. The shares were sold at an average price of $368.38, for a total transaction of $6,009,382.94. Following the sale, the executive vice president directly owned 9,213 shares in the company, valued at $3,393,884.94. This trade represents a 63.91% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Michael Frederick Klein sold 10,000 shares of the business’s stock in a transaction on Tuesday, May 26th. The shares were sold at an average price of $307.65, for a total transaction of $3,076,500.00. Following the completion of the sale, the executive vice president directly owned 45,125 shares of the company’s stock, valued at approximately $13,882,706.25. This trade represents a 18.14% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 62,667 shares of company stock worth $22,688,329. 1.39% of the stock is currently owned by company insiders.

Travelers Companies Price Performance

Shares of NYSE TRV opened at $364.50 on Tuesday. The stock’s 50-day simple moving average is $347.35 and its 200-day simple moving average is $316.08. The firm has a market capitalization of $76.03 billion, a PE ratio of 9.76, a price-to-earnings-growth ratio of 3.52 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. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.33 and a current ratio of 0.33.

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, beating analysts’ consensus estimates of $5.41 by $4.63. The firm 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%.The firm’s quarterly revenue was up .3% compared to the same quarter last year. During the same period in the prior year, the company posted $6.51 earnings per share. As a group, equities research analysts forecast that The Travelers Companies, Inc. will post 33.82 EPS for the current fiscal year.

Travelers Companies Announces Dividend

The business 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 dividend of $1.25 per share. This represents a $5.00 annualized dividend and a dividend yield of 1.4%. The ex-dividend date is Thursday, September 10th. Travelers Companies’s payout ratio is currently 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.