Varma Mutual Pension Insurance Co Invests $17.15 Million in The Travelers Companies, Inc. $TRV

Varma Mutual Pension Insurance Co acquired a new stake in The Travelers Companies, Inc. (NYSE:TRV) in the 2nd quarter, Holdings Channel reports. The firm acquired 51,947 shares of the insurance provider’s stock, valued at approximately $17,149,000.

Other institutional investors also recently modified their holdings of the company. BlackRock Inc. acquired a new stake in Travelers Companies in the second quarter worth $6,915,909,000. Norges Bank acquired a new position in shares of Travelers Companies during the fourth quarter valued at about $723,339,000. Bank of New York Mellon Corp acquired a new position in shares of Travelers Companies during the second quarter valued at about $469,505,000. Deutsche Bank AG bought a new position in shares of Travelers Companies during the 2nd quarter worth about $301,772,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. bought a new position in shares of Travelers Companies during the 2nd quarter worth about $205,539,000. Institutional investors and hedge funds own 82.45% of the company’s stock.

Travelers Companies Stock Down 0.2%

TRV stock opened at $363.83 on Friday. The stock has a market cap of $75.88 billion, a P/E ratio of 9.74, a P/E/G ratio of 3.46 and a beta of 0.45. The company has a current ratio of 0.33, a quick ratio of 0.33 and a debt-to-equity ratio of 0.27. The stock’s fifty day simple moving average is $352.28 and its two-hundred day simple moving average is $318.12. The Travelers Companies, Inc. has a 1-year low of $252.26 and a 1-year high of $398.70.

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

Travelers Companies Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Investors 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 yield of 1.4%. The ex-dividend date is Thursday, September 10th. Travelers Companies’s dividend payout ratio (DPR) is 13.39%.

Insider Buying and Selling at Travelers Companies

In other Travelers Companies news, EVP Diane Kurtzman sold 4,164 shares of Travelers Companies stock in a transaction dated Friday, July 24th. The shares were sold at an average price of $386.71, for a total value of $1,610,260.44. Following the sale, the executive vice president owned 5,298 shares of the company’s stock, valued at approximately $2,048,789.58. The trade was a 44.01% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP David Donnay Rowland sold 5,000 shares of the business’s stock in a transaction dated Wednesday, July 22nd. The shares were sold at an average price of $371.69, for a total transaction of $1,858,450.00. Following the completion of the transaction, the executive vice president owned 10,479 shares in the company, valued at approximately $3,894,939.51. The trade was a 32.30% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 62,667 shares of company stock valued at $22,688,329 in the last three months. 1.39% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on TRV. UBS Group boosted their target price on Travelers Companies from $314.00 to $350.00 and gave the company a “neutral” rating in a research report on Wednesday, July 8th. Bank of America boosted their price objective on Travelers Companies from $283.00 to $307.00 and gave the company an “underperform” rating in a report on Monday, July 20th. Morgan Stanley increased their target price on Travelers Companies from $290.00 to $330.00 and gave the stock an “underweight” rating in a report on Tuesday, July 21st. Deutsche Bank Aktiengesellschaft restated a “hold” rating on shares of Travelers Companies in a research note on Tuesday, July 21st. Finally, Piper Sandler lifted their price objective on shares of Travelers Companies to $340.00 and gave the company an “overweight” rating in a report on Monday, July 13th. Four equities research analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating, thirteen have assigned a Hold rating and five have assigned a Sell rating to the company. According to MarketBeat.com, Travelers Companies has an average rating of “Hold” and a consensus 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.