Boothbay Fund Management LLC Takes Position in The Travelers Companies, Inc. (NYSE:TRV)

Posted by on Mar 4th, 2023

Boothbay Fund Management LLC bought a new stake in The Travelers Companies, Inc. (NYSE:TRV – Get Rating) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 1,923 shares of the insurance provider’s stock, valued at approximately $295,000.

Several other institutional investors and hedge funds also recently made changes to their positions in TRV. First PREMIER Bank bought a new position in Travelers Companies during the third quarter valued at about $26,000. Massmutual Trust Co. FSB ADV grew its position in Travelers Companies by 57.8% during the third quarter. Massmutual Trust Co. FSB ADV now owns 183 shares of the insurance provider’s stock valued at $28,000 after buying an additional 67 shares during the period. Edmond DE Rothschild Holding S.A. bought a new position in Travelers Companies during the third quarter valued at about $34,000. EverSource Wealth Advisors LLC grew its position in Travelers Companies by 56.7% during the third quarter. EverSource Wealth Advisors LLC now owns 257 shares of the insurance provider’s stock valued at $39,000 after buying an additional 93 shares during the period. Finally, Old North State Trust LLC bought a new position in Travelers Companies during the third quarter valued at about $40,000. Hedge funds and other institutional investors own 81.59% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on TRV shares. StockNews.com lowered shares of Travelers Companies from a “buy” rating to a “hold” rating in a research report on Saturday, November 19th. Raymond James increased their price target on shares of Travelers Companies from $200.00 to $220.00 and gave the company a “strong-buy” rating in a research report on Wednesday, January 25th. Royal Bank of Canada increased their target price on shares of Travelers Companies from $190.00 to $195.00 in a research report on Wednesday, January 25th. Piper Sandler increased their target price on shares of Travelers Companies from $182.00 to $190.00 in a research report on Tuesday, January 10th. Finally, BMO Capital Markets assumed coverage on shares of Travelers Companies in a research report on Thursday, January 19th. They set an “outperform” rating and a $212.00 target price for the company. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $189.71.

Insider Activity at Travelers Companies

In related news, Vice Chairman William H. Heyman sold 9,000 shares of the firm’s stock in a transaction that occurred on Thursday, January 26th. The shares were sold at an average price of $191.42, for a total value of $1,722,780.00. Following the sale, the insider now directly owns 251,605 shares of the company’s stock, valued at $48,162,229.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Travelers Companies news, EVP Michael Frederick Klein sold 20,000 shares of Travelers Companies stock in a transaction that occurred on Thursday, February 9th. The shares were sold at an average price of $185.31, for a total transaction of $3,706,200.00. Following the transaction, the executive vice president now directly owns 9,107 shares of the company’s stock, valued at $1,687,618.17. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Vice Chairman William H. Heyman sold 9,000 shares of Travelers Companies stock in a transaction that occurred on Thursday, January 26th. The stock was sold at an average price of $191.42, for a total transaction of $1,722,780.00. Following the transaction, the insider now directly owns 251,605 shares in the company, valued at $48,162,229.10. The disclosure for this sale can be found here. Insiders have sold 188,163 shares of company stock valued at $35,402,200 over the last three months. 1.07% of the stock is owned by corporate insiders.

Travelers Companies Trading Up 0.2 %

Shares of Travelers Companies stock opened at $183.59 on Friday. The Travelers Companies, Inc. has a 12-month low of $149.65 and a 12-month high of $194.51. The company has a market cap of $42.61 billion, a price-to-earnings ratio of 15.62, a PEG ratio of 1.52 and a beta of 0.61. The company has a current ratio of 0.33, a quick ratio of 0.33 and a debt-to-equity ratio of 0.34. The company’s 50-day moving average price is $187.35 and its 200-day moving average price is $178.32.

Travelers Companies (NYSE:TRV – Get Rating) last announced its earnings results on Tuesday, January 24th. The insurance provider reported $3.40 earnings per share for the quarter, meeting analysts’ consensus estimates of $3.40. The business had revenue of $8.83 billion for the quarter, compared to the consensus estimate of $8.78 billion. Travelers Companies had a net margin of 7.71% and a return on equity of 13.34%. Travelers Companies’s quarterly revenue was up 10.4% on a year-over-year basis. During the same period last year, the firm posted $5.20 earnings per share. On average, equities analysts expect that The Travelers Companies, Inc. will post 14.09 earnings per share for the current fiscal year.

Travelers Companies Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 31st. Investors of record on Friday, March 10th will be paid a $0.93 dividend. This represents a $3.72 dividend on an annualized basis and a yield of 2.03%. The ex-dividend date of this dividend is Thursday, March 9th. Travelers Companies’s dividend payout ratio is currently 31.66%.

Travelers Companies Profile

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The Travelers Cos., Inc is a holding company, which engages in the provision of commercial and personal property and casualty insurance products and services. It operates through the following business segments: Business Insurance, Bond and Specialty Insurance, and Personal Insurance. The Business Insurance segment provides an array of property and casualty insurance, and insurance related services to its customers primarily in the U.S., as well as in Canada, the United Kingdom, the Republic of Ireland and throughout other parts of the world as a corporate member of Lloyd’s.

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Institutional Ownership by Quarter for Travelers Companies (NYSE:TRV)

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