The Travelers Companies, Inc. $TRV Shares Purchased by Truist Financial Corp

Truist Financial Corp grew its stake in shares of The Travelers Companies, Inc. (NYSE:TRV) by 2.9% during the third quarter, HoldingsChannel reports. The firm owned 148,487 shares of the insurance provider’s stock after buying an additional 4,246 shares during the period. Truist Financial Corp’s holdings in Travelers Companies were worth $41,460,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Osterweis Capital Management Inc. boosted its stake in shares of Travelers Companies by 1,820.0% in the second quarter. Osterweis Capital Management Inc. now owns 96 shares of the insurance provider’s stock valued at $26,000 after purchasing an additional 91 shares during the period. Delos Wealth Advisors LLC purchased a new position in Travelers Companies in the 2nd quarter valued at about $27,000. Barnes Dennig Private Wealth Management LLC grew its stake in shares of Travelers Companies by 134.1% during the third quarter. Barnes Dennig Private Wealth Management LLC now owns 96 shares of the insurance provider’s stock valued at $27,000 after acquiring an additional 55 shares in the last quarter. Quaker Wealth Management LLC increased its position in shares of Travelers Companies by 200.0% during the second quarter. Quaker Wealth Management LLC now owns 104 shares of the insurance provider’s stock worth $28,000 after acquiring an additional 208 shares during the last quarter. Finally, Clayton Financial Group LLC acquired a new position in shares of Travelers Companies in the third quarter worth about $28,000. Institutional investors and hedge funds own 82.45% of the company’s stock.

Travelers Companies Stock Performance

Shares of NYSE TRV opened at $284.23 on Friday. The company has a quick ratio of 0.35, a current ratio of 0.33 and a debt-to-equity ratio of 0.28. The firm’s 50-day moving average price is $284.88 and its two-hundred day moving average price is $276.39. The Travelers Companies, Inc. has a 52-week low of $230.43 and a 52-week high of $296.85. The stock has a market capitalization of $63.40 billion, a P/E ratio of 10.32, a P/E/G ratio of 2.62 and a beta of 0.52.

Travelers Companies (NYSE:TRV) last issued its earnings results on Wednesday, January 21st. The insurance provider reported $11.13 earnings per share for the quarter, topping the consensus estimate of $8.34 by $2.79. Travelers Companies had a return on equity of 20.70% and a net margin of 12.88%.The firm had revenue of $12.43 billion for the quarter, compared to analyst estimates of $11.13 billion. During the same period last year, the company earned $9.15 earnings per share. The firm’s revenue for the quarter was up 3.5% on a year-over-year basis. As a group, sell-side analysts forecast that The Travelers Companies, Inc. will post 17.02 earnings per share for the current year.

Travelers Companies Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Tuesday, March 10th will be issued a $1.10 dividend. This represents a $4.40 dividend on an annualized basis and a yield of 1.5%. The ex-dividend date of this dividend is Tuesday, March 10th. Travelers Companies’s dividend payout ratio is 15.98%.

Travelers Companies announced that its board has approved a share buyback program on Wednesday, January 21st that permits the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization permits the insurance provider to reacquire up to 8.3% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s board believes its shares are undervalued.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on TRV shares. Morgan Stanley lifted their price objective on Travelers Companies from $285.00 to $295.00 and gave the stock an “equal weight” rating in a report on Monday, November 17th. The Goldman Sachs Group lowered shares of Travelers Companies from a “buy” rating to a “neutral” rating and set a $304.00 price target for the company. in a research note on Wednesday, January 7th. Keefe, Bruyette & Woods upped their price target on shares of Travelers Companies from $317.00 to $320.00 and gave the company an “outperform” rating in a report on Friday, January 23rd. Zacks Research lowered shares of Travelers Companies from a “strong-buy” rating to a “hold” rating in a report on Monday, December 22nd. Finally, Jefferies Financial Group upgraded shares of Travelers Companies to a “hold” rating in a research note on Tuesday, January 6th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, eleven have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $302.80.

Insiders Place Their Bets

In related news, EVP Maria Olivo sold 8,920 shares of the stock in a transaction dated Wednesday, November 26th. The shares were sold at an average price of $295.73, for a total value of $2,637,911.60. Following the completion of the transaction, the executive vice president owned 117,596 shares in the company, valued at $34,776,665.08. This represents a 7.05% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Jeffrey P. Klenk sold 16,712 shares of the business’s stock in a transaction dated Friday, January 23rd. The stock was sold at an average price of $279.77, for a total transaction of $4,675,516.24. Following the sale, the executive vice president owned 6,075 shares in the company, valued at $1,699,602.75. This trade represents a 73.34% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 54,435 shares of company stock valued at $15,366,736 in the last quarter. 1.46% of the stock is owned by insiders.

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.