Westpac Banking Corp Makes New $1.56 Million Investment in The Travelers Companies, Inc. $TRV

Westpac Banking Corp purchased a new position in The Travelers Companies, Inc. (NYSE:TRV) in the second quarter, HoldingsChannel reports. The firm purchased 4,712 shares of the insurance provider’s stock, valued at approximately $1,556,000.

Other hedge funds have also made changes to their positions in 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 worth $25,000 after purchasing an additional 51 shares in the last quarter. Whipplewood Advisors LLC bought a new position in Travelers Companies during the 1st quarter valued at $26,000. LifeSteps Financial Inc. bought a new position in Travelers Companies during the 2nd quarter valued at $26,000. Kilter Group LLC acquired a new position in shares of Travelers Companies during the 2nd quarter valued at $26,000. Finally, Kemnay Advisory Services Inc. acquired a new position in shares of Travelers Companies during the 4th quarter valued at $26,000. Institutional investors and hedge funds own 82.45% of the company’s stock.

Insider Activity

In other Travelers Companies news, CFO Daniel S. Frey sold 14,037 shares of the firm’s stock in a transaction dated Tuesday, July 21st. The shares were sold at an average price of $368.24, for a total value of $5,168,984.88. Following the completion of the transaction, the chief financial officer directly owned 27,535 shares in the company, valued at $10,139,488.40. This trade represents a 33.77% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, EVP Michael Frederick Klein sold 6,000 shares of Travelers Companies stock in a transaction that occurred on Tuesday, July 21st. The stock was sold at an average price of $366.09, for a total transaction of $2,196,540.00. Following the completion of the transaction, the executive vice president directly owned 45,125 shares in the company, valued at approximately $16,519,811.25. This trade represents a 11.74% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 62,667 shares of company stock worth $22,688,329. 1.39% of the stock is owned by company insiders.

Travelers Companies Stock Performance

TRV opened at $363.83 on Friday. The company has a quick ratio of 0.33, a current ratio of 0.33 and a debt-to-equity ratio of 0.27. The firm has a market cap of $75.88 billion, a PE ratio of 9.74, a P/E/G ratio of 3.46 and a beta of 0.45. The business has a fifty day simple moving average of $352.28 and a 200-day simple moving average of $318.12. The Travelers Companies, Inc. has a fifty-two week low of $252.26 and a fifty-two week 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, topping analysts’ consensus estimates of $5.41 by $4.63. Travelers Companies had a return on equity of 25.41% and a net margin of 16.95%.The company had revenue of $12.15 billion for the quarter, compared to analyst estimates of $11.26 billion. During the same period in the previous year, the firm earned $6.51 earnings per share. Travelers Companies’s revenue for the quarter was up .3% compared to the same quarter last year. As a group, equities analysts predict that The Travelers Companies, Inc. will post 33.82 EPS for the current fiscal year.

Travelers Companies Dividend Announcement

The business 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 $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 1.4%. Travelers Companies’s dividend payout ratio (DPR) is currently 13.39%.

Analysts Set New Price Targets

Several brokerages have recently weighed in on TRV. Keefe, Bruyette & Woods restated a “market perform” rating and issued a $356.00 price objective (up from $342.00) on shares of Travelers Companies in a report on Wednesday, July 8th. Truist Financial boosted their price target on shares of Travelers Companies from $395.00 to $425.00 and gave the stock a “buy” rating in a research report on Monday, July 20th. UBS Group upped their price target on shares of Travelers Companies from $314.00 to $350.00 and gave the company a “neutral” rating in a report on Wednesday, July 8th. Wells Fargo & Company raised their price objective on shares of Travelers Companies from $295.00 to $334.00 and gave the company an “equal weight” rating in a research report on Thursday, July 9th. Finally, Citigroup reaffirmed a “market perform” rating on shares of Travelers Companies in a research note on Monday, July 20th. Four analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating, thirteen have assigned a Hold rating and five have assigned a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price 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.