Assetmark Inc. Increases Position in The Travelers Companies, Inc. $TRV

Assetmark Inc. lifted its position in The Travelers Companies, Inc. (NYSE:TRV) by 400.4% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 13,637 shares of the insurance provider’s stock after acquiring an additional 10,912 shares during the period. Assetmark Inc.’s holdings in Travelers Companies were worth $3,649,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Cornerstone Planning Group LLC lifted its stake in shares of Travelers Companies by 700.0% in the first quarter. Cornerstone Planning Group LLC now owns 96 shares of the insurance provider’s stock worth $25,000 after buying an additional 84 shares in the last quarter. Greykasell Wealth Strategies Inc. bought a new stake in shares of Travelers Companies in the 1st quarter worth $26,000. Missouri Trust & Investment Co increased its holdings in shares of Travelers Companies by 122.2% in the 2nd quarter. Missouri Trust & Investment Co now owns 100 shares of the insurance provider’s stock worth $27,000 after purchasing an additional 55 shares in the last quarter. Quaker Wealth Management LLC increased its holdings in shares of Travelers Companies by 200.0% in the 2nd quarter. Quaker Wealth Management LLC now owns 104 shares of the insurance provider’s stock worth $28,000 after purchasing an additional 208 shares in the last quarter. Finally, Nova Wealth Management Inc. bought a new stake in shares of Travelers Companies in the 2nd quarter worth $32,000. Institutional investors own 82.45% of the company’s stock.

Wall Street Analysts Forecast Growth

TRV has been the subject of a number of research analyst reports. The Goldman Sachs Group reissued a “buy” rating on shares of Travelers Companies in a report on Friday, October 17th. Citigroup initiated coverage on shares of Travelers Companies in a research report on Wednesday, August 13th. They set a “neutral” rating and a $291.00 price objective on the stock. JPMorgan Chase & Co. increased their price objective on shares of Travelers Companies from $289.00 to $297.00 and gave the company an “underweight” rating in a research report on Thursday, October 9th. Zacks Research upgraded shares of Travelers Companies from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, October 22nd. Finally, Morgan Stanley increased their price objective on shares of Travelers Companies from $269.00 to $285.00 and gave the company an “equal weight” rating in a research report on Tuesday, October 7th. Two research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating, eleven have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $291.31.

Travelers Companies Stock Down 0.5%

Shares of Travelers Companies stock opened at $267.16 on Tuesday. The company has a quick ratio of 0.35, a current ratio of 0.35 and a debt-to-equity ratio of 0.29. The Travelers Companies, Inc. has a twelve month low of $230.23 and a twelve month high of $287.95. The company has a market cap of $59.59 billion, a price-to-earnings ratio of 10.51, a price-to-earnings-growth ratio of 2.38 and a beta of 0.51. The company’s 50 day moving average is $273.75 and its 200 day moving average is $268.27.

Travelers Companies (NYSE:TRV) last released its quarterly earnings results on Thursday, October 16th. The insurance provider reported $8.14 earnings per share for the quarter, topping the consensus estimate of $6.01 by $2.13. Travelers Companies had a net margin of 12.14% and a return on equity of 20.28%. The business had revenue of $11.47 billion for the quarter, compared to the consensus estimate of $11.15 billion. During the same period last year, the firm earned $5.24 earnings per share. The company’s quarterly revenue was up 4.8% on a year-over-year basis. Research analysts anticipate that The Travelers Companies, Inc. will post 17.02 EPS for the current year.

Travelers Companies Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 31st. Investors of record on Wednesday, December 10th will be given a dividend of $1.10 per share. The ex-dividend date is Wednesday, December 10th. This represents a $4.40 annualized dividend and a yield of 1.6%. Travelers Companies’s payout ratio is 17.30%.

Insider Buying and Selling at Travelers Companies

In related news, EVP Mojgan M. Lefebvre sold 16,820 shares of Travelers Companies stock in a transaction on Friday, August 22nd. The stock was sold at an average price of $277.54, for a total transaction of $4,668,222.80. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Michael Frederick Klein sold 8,572 shares of Travelers Companies stock in a transaction on Tuesday, October 28th. The shares were sold at an average price of $270.73, for a total value of $2,320,697.56. Following the transaction, the executive vice president owned 33,638 shares in the company, valued at $9,106,815.74. This trade represents a 20.31% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 1.46% of the stock is currently owned by insiders.

Travelers Companies Profile

The Travelers Companies, Inc, through its subsidiaries, provides a range of commercial and personal property, and casualty insurance products and services to businesses, government units, associations, and individuals in the United States and internationally. The company operates through three segments: Business Insurance, Bond & Specialty Insurance, and Personal Insurance.