Kingsview Wealth Management LLC Invests $4.56 Million in The Travelers Companies, Inc. $TRV

Kingsview Wealth Management LLC acquired a new stake in The Travelers Companies, Inc. (NYSE:TRV) in the second quarter, Holdings Channel reports. The institutional investor acquired 13,826 shares of the insurance provider’s stock, valued at approximately $4,564,000.

Other large investors have also modified their holdings of the company. BlackRock Inc. acquired a new position in Travelers Companies in the 2nd quarter worth about $6,915,909,000. Legal & General Group Plc purchased a new position in Travelers Companies during the second quarter worth approximately $799,601,000. Bank of America Corp DE acquired a new stake in Travelers Companies in the second quarter valued at approximately $932,142,000. Norges Bank acquired a new stake in Travelers Companies in the fourth quarter valued at approximately $723,339,000. Finally, GQG Partners LLC purchased a new stake in shares of Travelers Companies in the second quarter valued at approximately $789,024,000. Institutional investors and hedge funds own 82.45% of the company’s stock.

Insider Transactions at Travelers Companies

In other news, EVP Michael Frederick Klein sold 6,000 shares of the company’s stock in a transaction on Tuesday, July 21st. The stock was sold at an average price of $366.09, for a total value of $2,196,540.00. Following the transaction, the executive vice president owned 45,125 shares of the company’s stock, valued at $16,519,811.25. This represents a 11.74% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Mojgan M. Lefebvre sold 16,313 shares of the firm’s stock in a transaction dated Tuesday, July 21st. The stock was sold at an average price of $368.38, for a total value of $6,009,382.94. Following the sale, the executive vice president directly owned 9,213 shares of the company’s stock, valued at $3,393,884.94. The trade was a 63.91% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 52,667 shares of company stock valued at $19,611,829 in the last ninety days. 1.39% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

TRV has been the subject of a number of research analyst reports. Cantor Fitzgerald upped their price objective on shares of Travelers Companies from $335.00 to $360.00 and gave the stock an “overweight” rating in a research report on Thursday, July 9th. Morgan Stanley lifted their target price on shares of Travelers Companies from $290.00 to $330.00 and gave the company an “underweight” rating in a research report on Tuesday, July 21st. JPMorgan Chase & Co. raised shares of Travelers Companies from an “underweight” rating to a “neutral” rating and boosted their target price for the stock from $316.00 to $322.00 in a research note on Tuesday, May 26th. Roth Capital upped their price target on shares of Travelers Companies from $345.00 to $425.00 and gave the stock a “buy” rating in a research report on Tuesday, July 21st. Finally, TD Cowen lowered 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. Four research analysts have rated the stock with a Strong Buy rating, four have given a Buy rating, thirteen have issued a Hold rating and five have issued a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $354.26.

Travelers Companies Stock Up 0.1%

Shares of TRV opened at $369.85 on Friday. The Travelers Companies, Inc. has a 52-week low of $252.26 and a 52-week high of $398.70. 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 stock has a fifty day simple moving average of $358.56 and a two-hundred day simple moving average of $320.77. The company has a market capitalization of $77.14 billion, a PE ratio of 9.90, a price-to-earnings-growth ratio of 3.51 and a beta of 0.45.

Travelers Companies (NYSE:TRV) last announced its quarterly earnings results on Friday, July 17th. The insurance provider reported $10.04 earnings per share for the quarter, beating 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 firm had revenue of $12.15 billion for the quarter, compared to analysts’ expectations of $11.26 billion. During the same quarter in the previous year, the company posted $6.51 EPS. The company’s revenue was up .3% compared to the same quarter last year. As a group, equities analysts forecast that The Travelers Companies, Inc. will post 33.82 EPS for the current year.

Travelers Companies Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Thursday, September 10th will be given a dividend of $1.25 per share. This represents a $5.00 annualized dividend and a dividend yield of 1.4%. The ex-dividend date of this dividend is Thursday, September 10th. Travelers Companies’s payout ratio is presently 13.39%.

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.