L2 Asset Management LLC Buys New Shares in The Travelers Companies, Inc. $TRV

L2 Asset Management LLC purchased a new position in The Travelers Companies, Inc. (NYSE:TRV) in the 2nd quarter, Holdings Channel.com reports. The fund purchased 3,310 shares of the insurance provider’s stock, valued at approximately $730,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Vanguard Group Inc. lifted its position in Travelers Companies by 0.5% in the fourth quarter. Vanguard Group Inc. now owns 22,109,933 shares of the insurance provider’s stock valued at $6,413,207,000 after purchasing an additional 110,311 shares during the last quarter. BlackRock Inc. purchased a new position in shares of Travelers Companies in the second quarter worth $6,915,909,000. State Street Corp raised its holdings in Travelers Companies by 3.1% during the 4th quarter. State Street Corp now owns 16,000,457 shares of the insurance provider’s stock valued at $4,641,093,000 after buying an additional 486,861 shares during the last quarter. Morgan Stanley boosted its position in Travelers Companies by 2.3% during the 4th quarter. Morgan Stanley now owns 3,793,750 shares of the insurance provider’s stock valued at $1,100,416,000 after buying an additional 85,298 shares during the period. Finally, Dimensional Fund Advisors LP grew its holdings in Travelers Companies by 3.7% in the 1st quarter. Dimensional Fund Advisors LP now owns 3,484,676 shares of the insurance provider’s stock worth $1,016,433,000 after acquiring an additional 123,564 shares during the last quarter. 82.45% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have recently commented on the stock. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and set a $356.00 price objective (up from $342.00) on shares of Travelers Companies in a research note on Wednesday, July 8th. 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 report on Thursday, July 9th. HSBC lifted their price target on Travelers Companies from $321.00 to $351.00 and gave the company a “hold” rating in a research report on Monday, July 6th. Wells Fargo & Company boosted their price objective on shares of Travelers Companies from $295.00 to $334.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 9th. Finally, Roth Capital upped their price objective on shares of Travelers Companies from $345.00 to $425.00 and gave the stock a “buy” rating in a report on Tuesday, July 21st. Four equities research analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating, thirteen have issued a Hold rating and five have issued a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $354.26.

Insiders Place Their Bets

In other news, CFO Daniel S. Frey sold 14,037 shares of the company’s stock in a transaction that occurred on 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 transaction, the chief financial officer owned 27,535 shares in the company, valued at approximately $10,139,488.40. This represents a 33.77% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP David Donnay Rowland sold 5,000 shares of the company’s stock in a transaction that occurred on Wednesday, July 22nd. The stock was sold at an average price of $371.69, for a total transaction of $1,858,450.00. Following the completion of the transaction, the executive vice president owned 10,479 shares in the company, valued at approximately $3,894,939.51. This represents a 32.30% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 52,667 shares of company stock valued at $19,611,829. 1.39% of the stock is owned by company insiders.

Travelers Companies Trading Up 1.9%

NYSE TRV opened at $370.65 on Tuesday. The Travelers Companies, Inc. has a 12 month low of $252.26 and a 12 month high of $398.70. The company has a current ratio of 0.33, a quick ratio of 0.33 and a debt-to-equity ratio of 0.27. The stock’s fifty day moving average price is $353.55 and its 200-day moving average price is $318.93. The stock has a market cap of $77.31 billion, a P/E ratio of 9.93, a P/E/G ratio of 3.46 and a beta of 0.45.

Travelers Companies (NYSE:TRV) last posted its quarterly earnings results on Friday, July 17th. The insurance provider reported $10.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.41 by $4.63. The firm had revenue of $12.15 billion during the quarter, compared to analyst estimates of $11.26 billion. Travelers Companies had a return on equity of 25.41% and a net margin of 16.95%.Travelers Companies’s quarterly revenue was up .3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $6.51 EPS. As a group, equities analysts forecast that The Travelers Companies, Inc. will post 33.82 EPS for the current fiscal year.

Travelers Companies Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Thursday, September 10th will be paid a dividend of $1.25 per share. This represents a $5.00 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date is Thursday, September 10th. Travelers Companies’s dividend payout ratio (DPR) is currently 13.39%.

Travelers Companies Profile

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.