Garner Asset Management Corp Acquires 1,210 Shares of The Travelers Companies, Inc. (NYSE:TRV)

Garner Asset Management Corp raised its holdings in The Travelers Companies, Inc. (NYSE:TRV) by 10.3% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 12,953 shares of the insurance provider’s stock after purchasing an additional 1,210 shares during the period. Travelers Companies accounts for about 1.3% of Garner Asset Management Corp’s holdings, making the stock its 23rd biggest position. Garner Asset Management Corp’s holdings in Travelers Companies were worth $2,634,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. JPMorgan Chase & Co. boosted its holdings in shares of Travelers Companies by 36.8% in the first quarter. JPMorgan Chase & Co. now owns 11,743,236 shares of the insurance provider’s stock worth $2,702,588,000 after acquiring an additional 3,158,979 shares during the period. Norges Bank bought a new stake in shares of Travelers Companies during the fourth quarter valued at about $282,593,000. Acadian Asset Management LLC lifted its holdings in shares of Travelers Companies by 356.4% in the second quarter. Acadian Asset Management LLC now owns 868,563 shares of the insurance provider’s stock worth $176,589,000 after buying an additional 678,241 shares in the last quarter. Zurich Insurance Group Ltd FI bought a new position in shares of Travelers Companies in the first quarter valued at approximately $88,190,000. Finally, Point72 Asset Management L.P. grew its stake in Travelers Companies by 6,167.2% during the fourth quarter. Point72 Asset Management L.P. now owns 333,854 shares of the insurance provider’s stock valued at $63,596,000 after acquiring an additional 328,527 shares in the last quarter. Institutional investors own 82.45% of the company’s stock.

Analysts Set New Price Targets

TRV has been the topic of several recent analyst reports. Deutsche Bank Aktiengesellschaft increased their target price on shares of Travelers Companies from $221.00 to $234.00 and gave the stock a “hold” rating in a research note on Wednesday, August 7th. Morgan Stanley dropped their price objective on Travelers Companies from $220.00 to $210.00 and set an “equal weight” rating for the company in a research note on Friday, July 19th. TD Cowen cut Travelers Companies from a “buy” rating to a “hold” rating and lowered their price target for the company from $252.00 to $230.00 in a report on Monday, July 15th. Barclays began coverage on Travelers Companies in a report on Wednesday, September 4th. They set an “overweight” rating and a $286.00 price objective for the company. Finally, Citigroup raised their target price on shares of Travelers Companies from $200.00 to $203.00 and gave the company a “sell” rating in a research note on Tuesday, July 30th. Four research analysts have rated the stock with a sell rating, fourteen have given a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $227.05.

Insider Transactions at Travelers Companies

In related news, EVP Michael Frederick Klein sold 10,000 shares of the company’s stock in a transaction dated Thursday, July 25th. The shares were sold at an average price of $211.44, for a total value of $2,114,400.00. Following the transaction, the executive vice president now owns 22,798 shares in the company, valued at approximately $4,820,409.12. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 1.33% of the company’s stock.

Travelers Companies Price Performance

TRV opened at $239.72 on Thursday. The company has a current ratio of 0.33, a quick ratio of 0.33 and a debt-to-equity ratio of 0.32. The company has a market cap of $54.89 billion, a price-to-earnings ratio of 17.81, a price-to-earnings-growth ratio of 1.22 and a beta of 0.62. The stock has a fifty day simple moving average of $220.31 and a two-hundred day simple moving average of $217.29. The Travelers Companies, Inc. has a 12-month low of $157.33 and a 12-month high of $243.48.

Travelers Companies (NYSE:TRV) last issued its quarterly earnings results on Friday, July 19th. The insurance provider reported $2.51 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.23 by ($0.72). Travelers Companies had a return on equity of 15.90% and a net margin of 8.37%. The business had revenue of $11.28 billion during the quarter, compared to the consensus estimate of $11.35 billion. During the same quarter in the previous year, the business earned $0.06 earnings per share. The firm’s revenue was up 11.7% compared to the same quarter last year. Research analysts predict that The Travelers Companies, Inc. will post 17.19 earnings per share for the current fiscal year.

Travelers Companies Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Tuesday, September 10th will be paid a dividend of $1.05 per share. This represents a $4.20 dividend on an annualized basis and a yield of 1.75%. The ex-dividend date of this dividend is Tuesday, September 10th. Travelers Companies’s payout ratio is 31.20%.

Travelers Companies Company 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.