NewEdge Wealth LLC Sells 1,847 Shares of The Travelers Companies, Inc. $TRV

NewEdge Wealth LLC lowered its holdings in shares of The Travelers Companies, Inc. (NYSE:TRV) by 10.4% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,985 shares of the insurance provider’s stock after selling 1,847 shares during the period. NewEdge Wealth LLC’s holdings in Travelers Companies were worth $4,663,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in TRV. Spinnaker Trust grew its stake in shares of Travelers Companies by 1.7% in the 1st quarter. Spinnaker Trust now owns 1,938 shares of the insurance provider’s stock worth $565,000 after buying an additional 33 shares during the last quarter. Cim LLC increased its holdings in shares of Travelers Companies by 0.4% during the fourth quarter. Cim LLC now owns 8,145 shares of the insurance provider’s stock valued at $2,363,000 after acquiring an additional 34 shares in the last quarter. Avalon Trust Co raised its position in shares of Travelers Companies by 0.4% in the 1st quarter. Avalon Trust Co now owns 8,784 shares of the insurance provider’s stock worth $2,562,000 after purchasing an additional 35 shares during the last quarter. Haverford Trust Co boosted its stake in Travelers Companies by 0.7% in the 4th quarter. Haverford Trust Co now owns 5,210 shares of the insurance provider’s stock worth $1,511,000 after purchasing an additional 35 shares in the last quarter. Finally, Sumitomo Life Insurance Co. grew its position in Travelers Companies by 0.7% during the 4th quarter. Sumitomo Life Insurance Co. now owns 5,236 shares of the insurance provider’s stock valued at $1,519,000 after purchasing an additional 35 shares during the last quarter. 82.45% of the stock is currently owned by hedge funds and other institutional investors.

Key Travelers Companies News

Here are the key news stories impacting Travelers Companies this week:

• Positive Sentiment: Analyst coverage remained constructive, with Morgan Stanley and other firms highlighting potential upside, while a recent Zacks note said Travelers’ shares hit a 52-week high and questioned whether the run can continue. Morgan Stanley Forecasts Strong Price Appreciation for Travelers Companies (NYSE:TRV) Stock The Travelers Companies, Inc. (TRV) Hit a 52 Week High, Can the Run Continue?
• Positive Sentiment: AM Best assigned an “a+” issue credit rating with a stable outlook to Travelers’ new $750 million senior unsecured notes, signaling confidence in the company’s credit quality and access to capital. AM Best Assigns Issue Credit Rating to The Travelers Companies, Inc. New Senior Unsecured Notes
• Positive Sentiment: Travelers priced $750 million of 4.95% senior notes due 2031, which adds funding for general corporate purposes and appears manageable given the company’s strong balance sheet. Travelers Companies Prices $750 Million Senior Notes Offering
• Neutral Sentiment: Mizuho raised its price target to $343 from $324 but kept a neutral rating, suggesting the stock may have already moved ahead of near-term fundamentals. Mizuho price target update
• Negative Sentiment: Reports that several top Travelers executives sold company stock could weigh on sentiment, even if the transactions were routine. Top Travelers Executives Quietly Unload Millions in Company Stock
• Negative Sentiment: Deutsche Bank and UBS both reiterated hold-type views, reinforcing that some analysts see limited upside after the recent rally. Deutsche Bank Sticks to Its Hold Rating for Travelers Companies (TRV) UBS Releases a Hold Rating on Travelers Companies (TRV)

Travelers Companies Trading Up 2.9%

Shares of TRV stock opened at $387.42 on Friday. The company has a current ratio of 0.33, a quick ratio of 0.35 and a debt-to-equity ratio of 0.27. The Travelers Companies, Inc. has a 12-month low of $252.26 and a 12-month high of $389.11. The stock has a market capitalization of $80.80 billion, a P/E ratio of 10.38, a P/E/G ratio of 3.76 and a beta of 0.46. The firm’s 50 day moving average is $322.06 and its 200 day moving average is $304.48.

Travelers Companies (NYSE:TRV) last announced its earnings results on Friday, July 17th. The insurance provider reported $10.04 earnings per share for the quarter, beating analysts’ consensus estimates of $5.41 by $4.63. The business had revenue of $12.15 billion during 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 company’s quarterly revenue was up .3% compared to the same quarter last year. During the same period in the previous year, the business earned $6.51 EPS. Research analysts expect that The Travelers Companies, Inc. will post 32.15 earnings per share for the current year.

Travelers Companies Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Thursday, September 10th will be issued a $1.25 dividend. The ex-dividend date of this dividend is Thursday, September 10th. This represents a $5.00 dividend on an annualized basis and a yield of 1.3%. Travelers Companies’s dividend payout ratio is currently 13.39%.

Insider Buying and Selling at Travelers Companies

In other news, Vice Chairman William H. Heyman sold 1,557 shares of the stock in a transaction that occurred on Tuesday, April 28th. The shares were sold at an average price of $310.64, for a total value of $483,666.48. Following the transaction, the insider owned 259,590 shares in the company, valued at $80,639,037.60. This represents a 0.60% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Michael Frederick Klein sold 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $307.65, for a total transaction of $3,076,500.00. Following the completion of the transaction, the executive vice president directly owned 45,125 shares in the company, valued at approximately $13,882,706.25. The trade was a 18.14% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 18,292 shares of company stock valued at $5,639,800. 1.39% of the stock is owned by company insiders.

Analysts Set New Price Targets

TRV has been the subject of several recent analyst reports. Bank of America lifted their target price on shares of Travelers Companies from $283.00 to $307.00 and gave the stock an “underperform” rating in a report on Monday. HSBC raised their price target on shares of Travelers Companies from $321.00 to $351.00 and gave the company a “hold” rating in a research report on Monday, July 6th. Barclays boosted their price objective on shares of Travelers Companies from $295.00 to $318.00 and gave the stock an “underweight” rating in a report on Tuesday. Seaport Research Partners set a $322.00 price objective on Travelers Companies in a research report on Tuesday, May 26th. Finally, UBS Group increased their target price on Travelers Companies from $314.00 to $350.00 and gave the company a “neutral” rating in a research note on Wednesday, July 8th. Three research analysts have rated the stock with a Strong Buy rating, four have given a Buy rating, fourteen have assigned a Hold rating and five have given a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $354.26.

About Travelers Companies

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.