CIBC Asset Management Inc Reduces Holdings in The Travelers Companies, Inc. (NYSE:TRV)

CIBC Asset Management Inc lowered its position in shares of The Travelers Companies, Inc. (NYSE:TRV) by 41.1% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 30,882 shares of the insurance provider’s stock after selling 21,521 shares during the quarter. CIBC Asset Management Inc’s holdings in Travelers Companies were worth $6,280,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Pathway Financial Advisers LLC purchased a new position in Travelers Companies during the first quarter valued at approximately $35,000. Beacon Capital Management LLC lifted its holdings in Travelers Companies by 74.2% during the first quarter. Beacon Capital Management LLC now owns 155 shares of the insurance provider’s stock valued at $36,000 after purchasing an additional 66 shares in the last quarter. Northwest Financial Advisors purchased a new position in Travelers Companies during the fourth quarter valued at approximately $32,000. Opal Wealth Advisors LLC purchased a new position in Travelers Companies during the first quarter valued at approximately $42,000. Finally, Tributary Capital Management LLC purchased a new position in Travelers Companies during the first quarter valued at approximately $45,000. Hedge funds and other institutional investors own 82.45% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the stock. William Blair reiterated a “market perform” rating on shares of Travelers Companies in a research report on Friday, June 28th. Piper Sandler reduced their price objective on shares of Travelers Companies from $213.00 to $207.00 and set a “neutral” rating on the stock in a research report on Monday, July 22nd. Royal Bank of Canada reiterated a “sector perform” rating and set a $225.00 price objective on shares of Travelers Companies in a research report on Monday, July 22nd. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Travelers Companies from $221.00 to $234.00 and gave the company a “hold” rating in a research report on Wednesday, August 7th. Finally, Bank of America lifted their price objective on shares of Travelers Companies from $202.00 to $223.00 and gave the company an “underperform” rating in a research report on Monday, July 22nd. Four investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $223.78.

Insider Activity

In other news, EVP Michael Frederick Klein sold 10,000 shares of the business’s stock in a transaction on Thursday, July 25th. The shares were sold at an average price of $211.44, for a total transaction of $2,114,400.00. Following the completion of the sale, the executive vice president now directly owns 22,798 shares of the company’s stock, valued at $4,820,409.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 1.33% of the company’s stock.

Travelers Companies Trading Up 1.6 %

TRV stock opened at $231.42 on Thursday. The company has a quick ratio of 0.33, a current ratio of 0.33 and a debt-to-equity ratio of 0.32. The Travelers Companies, Inc. has a twelve month low of $157.33 and a twelve month high of $232.75. The stock has a market capitalization of $52.99 billion, a price-to-earnings ratio of 17.19, a price-to-earnings-growth ratio of 1.18 and a beta of 0.61. The firm’s fifty day simple moving average is $213.66 and its two-hundred day simple moving average is $216.10.

Travelers Companies (NYSE:TRV) last posted its quarterly earnings data on Friday, July 19th. The insurance provider reported $2.51 earnings per share for the quarter, missing analysts’ consensus estimates of $3.23 by ($0.72). Travelers Companies had a net margin of 8.37% and a return on equity of 15.90%. The firm had revenue of $11.28 billion for the quarter, compared to the consensus estimate of $11.35 billion. During the same quarter last year, the firm earned $0.06 EPS. The company’s revenue was up 11.7% on a year-over-year basis. As a group, analysts anticipate that The Travelers Companies, Inc. will post 17.19 earnings per share for the current year.

Travelers Companies Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Stockholders 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 dividend yield of 1.81%. The ex-dividend date is Tuesday, September 10th. Travelers Companies’s dividend payout ratio is currently 31.20%.

Travelers Companies 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.