Baron Wealth Management LLC Increases Stake in The Travelers Companies, Inc. (NYSE:TRV)

Baron Wealth Management LLC raised its stake in shares of The Travelers Companies, Inc. (NYSE:TRV) by 38.5% in the third quarter, Holdings Channel reports. The institutional investor owned 1,379 shares of the insurance provider’s stock after buying an additional 383 shares during the quarter. Baron Wealth Management LLC’s holdings in Travelers Companies were worth $323,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the stock. Dimensional Fund Advisors LP grew its holdings in Travelers Companies by 5.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,044,839 shares of the insurance provider’s stock valued at $619,241,000 after buying an additional 165,708 shares in the last quarter. Legal & General Group Plc grew its holdings in Travelers Companies by 1.6% during the 2nd quarter. Legal & General Group Plc now owns 2,334,882 shares of the insurance provider’s stock valued at $474,774,000 after buying an additional 37,029 shares in the last quarter. Boston Partners grew its holdings in Travelers Companies by 16.4% during the 1st quarter. Boston Partners now owns 1,388,019 shares of the insurance provider’s stock valued at $319,348,000 after buying an additional 196,011 shares in the last quarter. AQR Capital Management LLC grew its holdings in Travelers Companies by 8.0% during the 2nd quarter. AQR Capital Management LLC now owns 1,150,213 shares of the insurance provider’s stock valued at $233,769,000 after buying an additional 85,619 shares in the last quarter. Finally, Hsbc Holdings PLC grew its holdings in Travelers Companies by 1.3% during the 2nd quarter. Hsbc Holdings PLC now owns 1,112,547 shares of the insurance provider’s stock valued at $226,307,000 after buying an additional 14,764 shares in the last quarter. Hedge funds and other institutional investors own 82.45% of the company’s stock.

Analyst Ratings Changes

TRV has been the subject of a number of recent analyst reports. Roth Mkm lifted their target price on Travelers Companies from $240.00 to $300.00 and gave the company a “buy” rating in a report on Monday, October 21st. Piper Sandler dropped their price target on Travelers Companies from $213.00 to $207.00 and set a “neutral” rating for the company in a research report on Monday, July 22nd. StockNews.com downgraded Travelers Companies from a “buy” rating to a “hold” rating in a research report on Monday. The Goldman Sachs Group lifted their price target on Travelers Companies from $216.00 to $245.00 and gave the company a “sell” rating in a research report on Tuesday, October 22nd. Finally, Barclays lifted their price target on Travelers Companies from $286.00 to $295.00 and gave the company an “overweight” rating in a research report on Wednesday, October 23rd. Four analysts have rated the stock with a sell rating, fourteen have issued a hold rating, five have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Travelers Companies has an average rating of “Hold” and an average price target of $247.90.

Insider Activity

In related news, CEO Alan D. Schnitzer sold 40,524 shares of the company’s stock in a transaction on Monday, October 21st. The stock was sold at an average price of $260.12, for a total value of $10,541,102.88. Following the sale, the chief executive officer now directly owns 221,924 shares of the company’s stock, valued at $57,726,870.88. This represents a 15.44 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Vice Chairman William H. Heyman sold 3,000 shares of the company’s stock in a transaction on Tuesday, October 22nd. The stock was sold at an average price of $260.55, for a total value of $781,650.00. Following the completion of the sale, the insider now directly owns 250,384 shares in the company, valued at approximately $65,237,551.20. The trade was a 1.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 63,999 shares of company stock valued at $16,580,166. Company insiders own 1.33% of the company’s stock.

Travelers Companies Stock Performance

Shares of TRV stock opened at $262.69 on Tuesday. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.34 and a current ratio of 0.34. The Travelers Companies, Inc. has a fifty-two week low of $170.88 and a fifty-two week high of $269.55. The company has a market capitalization of $59.64 billion, a P/E ratio of 13.47, a PEG ratio of 1.25 and a beta of 0.62. The stock has a 50 day moving average price of $244.87 and a two-hundred day moving average price of $224.82.

Travelers Companies (NYSE:TRV) last posted its earnings results on Thursday, October 17th. The insurance provider reported $5.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.79 by $1.45. Travelers Companies had a return on equity of 17.69% and a net margin of 10.02%. The firm had revenue of $11.90 billion for the quarter, compared to analysts’ expectations of $11.46 billion. During the same period in the previous year, the firm earned $1.95 earnings per share. The business’s revenue was up 11.9% compared to the same quarter last year. Analysts expect that The Travelers Companies, Inc. will post 18.64 earnings per share for the current year.

Travelers Companies Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Tuesday, December 10th will be paid a dividend of $1.05 per share. The ex-dividend date of this dividend is Tuesday, December 10th. This represents a $4.20 annualized dividend and a dividend yield of 1.60%. Travelers Companies’s dividend payout ratio (DPR) is presently 21.54%.

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.