Hennessy Advisors Inc. Reduces Stake in The Travelers Companies, Inc. $TRV

Hennessy Advisors Inc. reduced its stake in shares of The Travelers Companies, Inc. (NYSE:TRV) by 74.3% during the 2nd quarter, HoldingsChannel reports. The fund owned 9,500 shares of the insurance provider’s stock after selling 27,400 shares during the period. Hennessy Advisors Inc.’s holdings in Travelers Companies were worth $3,136,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Brighton Jones LLC boosted its holdings in shares of Travelers Companies by 13.4% in the 4th quarter. Brighton Jones LLC now owns 3,277 shares of the insurance provider’s stock worth $789,000 after purchasing an additional 387 shares during the period. Revolve Wealth Partners LLC purchased a new stake in Travelers Companies during the 4th quarter valued at $276,000. WINTON GROUP Ltd bought a new position in Travelers Companies during the second quarter valued at $382,000. CIBC Asset Management Inc raised its stake in shares of Travelers Companies by 13.9% in the second quarter. CIBC Asset Management Inc now owns 68,537 shares of the insurance provider’s stock valued at $18,336,000 after acquiring an additional 8,383 shares during the period. Finally, Treasurer of the State of North Carolina lifted its holdings in shares of Travelers Companies by 2.0% in the 2nd quarter. Treasurer of the State of North Carolina now owns 105,605 shares of the insurance provider’s stock worth $28,254,000 after acquiring an additional 2,117 shares during the last quarter. 82.45% of the stock is currently owned by hedge funds and other institutional investors.

Travelers Companies Trading Down 0.0%

TRV stock opened at $369.85 on Monday. The Travelers Companies, Inc. has a 12 month low of $252.26 and a 12 month high of $398.70. The firm’s 50-day moving average is $358.56 and its 200 day moving average is $320.97. The company has a market capitalization of $77.14 billion, a PE ratio of 9.90, a P/E/G ratio of 3.52 and a beta of 0.45. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.33 and a quick ratio of 0.33.

Travelers Companies (NYSE:TRV) last released its quarterly earnings data on Friday, July 17th. The insurance provider reported $10.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.41 by $4.63. The company had revenue of $12.15 billion during the quarter, compared to analysts’ expectations of $11.26 billion. Travelers Companies had a net margin of 16.95% and a return on equity of 25.41%. The firm’s quarterly revenue was up .3% on a year-over-year basis. During the same period in the previous year, the company earned $6.51 EPS. On average, research analysts anticipate 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 paid a dividend of $1.25 per share. The ex-dividend date is Thursday, September 10th. This represents a $5.00 annualized dividend and a dividend yield of 1.4%. Travelers Companies’s dividend payout ratio (DPR) is currently 13.39%.

Analysts Set New Price Targets

A number of equities analysts recently commented on the stock. Morgan Stanley lifted their price target on shares of Travelers Companies from $290.00 to $330.00 and gave the stock an “underweight” rating in a research note on Tuesday, July 21st. Truist Financial increased their price objective on shares of Travelers Companies from $395.00 to $425.00 and gave the stock a “buy” rating in a research report on Monday, July 20th. BMO Capital Markets downgraded shares of Travelers Companies from an “outperform” rating to a “market perform” rating and raised their price objective for the stock from $314.00 to $379.00 in a research note on Tuesday, July 21st. Weiss Ratings upgraded Travelers Companies from a “buy (a-)” rating to a “buy (a)” rating in a research report on Thursday, August 20th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating on shares of Travelers Companies in a research note on Tuesday, July 21st. Four investment analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating, thirteen have given a Hold rating and five have given a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $354.26.

Insider Buying and Selling

In other news, EVP David Donnay Rowland sold 5,000 shares of the business’s stock in a transaction dated Wednesday, July 22nd. The shares were sold at an average price of $371.69, for a total value of $1,858,450.00. Following the completion of the sale, the executive vice president owned 10,479 shares in the company, valued at approximately $3,894,939.51. The trade was a 32.30% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Diane Kurtzman sold 4,164 shares of the company’s stock in a transaction that occurred on Friday, July 24th. The stock was sold at an average price of $386.71, for a total transaction of $1,610,260.44. Following the completion of the sale, the executive vice president directly owned 5,298 shares of the company’s stock, valued at $2,048,789.58. The trade was a 44.01% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 52,667 shares of company stock valued at $19,611,829 over the last quarter. 1.39% of the stock is owned by company insiders.

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.