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

NewEdge Wealth LLC lowered its position in shares of The Travelers Companies, Inc. (NYSE:TRV) by 10.4% during the 1st quarter, Holdings Channel.com reports. The firm 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.

Other hedge funds have also modified their holdings of the company. HHM Wealth Advisors LLC raised its holdings in Travelers Companies by 145.7% during the first quarter. HHM Wealth Advisors LLC now owns 86 shares of the insurance provider’s stock valued at $25,000 after acquiring an additional 51 shares during the period. 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 worth $26,000 after acquiring an additional 91 shares during the period. Kemnay Advisory Services Inc. purchased a new stake in shares of Travelers Companies during the fourth quarter worth about $26,000. Whipplewood Advisors LLC purchased a new stake in shares of Travelers Companies during the first quarter worth about $26,000. Finally, Kohmann Bosshard Financial Services LLC bought a new stake in Travelers Companies during the 4th quarter valued at approximately $28,000. 82.45% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on TRV shares. Barclays lifted their price objective on shares of Travelers Companies from $295.00 to $318.00 and gave the company an “underweight” rating in a research report on Tuesday. JPMorgan Chase & Co. raised shares of Travelers Companies from an “underweight” rating to a “neutral” rating and raised their target price for the company from $316.00 to $322.00 in a research note on Tuesday, May 26th. Truist Financial raised their target price on shares of Travelers Companies from $395.00 to $425.00 and gave the company a “buy” rating in a research note on Monday, July 20th. Morgan Stanley lifted their price target on shares of Travelers Companies from $290.00 to $330.00 and gave the company an “underweight” rating in a report on Tuesday. Finally, TD Cowen cut shares of Travelers Companies from a “hold” rating to a “sell” rating and set a $297.00 price target on the stock. in a research note on Monday, July 13th. Three equities research analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating, fourteen have given a Hold rating and five have given a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $354.26.

Insider Buying and Selling

In other Travelers Companies news, Vice Chairman William H. Heyman sold 1,557 shares of the stock in a transaction on Tuesday, April 28th. The stock was sold at an average price of $310.64, for a total value of $483,666.48. Following the sale, the insider owned 259,590 shares in the company, valued at $80,639,037.60. This trade represents a 0.60% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Michael Frederick Klein sold 10,000 shares of Travelers Companies stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $307.65, for a total value of $3,076,500.00. Following the sale, the executive vice president 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. The SEC filing for this sale provides additional information. In the last three months, insiders sold 18,292 shares of company stock valued at $5,639,800. Insiders own 1.39% of the company’s stock.

More 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 Stock Performance

Shares of NYSE:TRV 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 company has a market capitalization of $80.80 billion, a price-to-earnings ratio of 10.38, a PEG 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 quarterly earnings data on Friday, July 17th. The insurance provider reported $10.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.41 by $4.63. Travelers Companies had a net margin of 16.95% and a return on equity of 25.41%. The business had revenue of $12.15 billion during the quarter, compared to the consensus estimate of $11.26 billion. During the same quarter last year, the firm earned $6.51 earnings per share. The firm’s quarterly revenue was up .3% compared to the same quarter last year. Research analysts predict that The Travelers Companies, Inc. will post 32.15 EPS for the current year.

Travelers Companies Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Thursday, September 10th will be paid a dividend of $1.25 per share. This represents a $5.00 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date of this dividend is Thursday, September 10th. Travelers Companies’s dividend payout ratio (DPR) is currently 13.39%.

Travelers Companies Company 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.