West Family Investments Inc. has increased its stake in The Travelers Companies, Inc. (NYSE: TRV) by an impressive 30.4% during the second quarter of 2023. According to a report from Holdings Channel, the investment firm now owns 2,061 shares of the insurance provider, having acquired an additional 481 shares in that period. As of the latest filing with the Securities and Exchange Commission (SEC), West Family’s holdings in Travelers Companies are valued at approximately $551,000.
This move is part of a broader trend, as other institutional investors and hedge funds have also adjusted their positions in Travelers Companies recently. For instance, Y.D. More Investments Ltd increased its stake by 13.9% during the first quarter, now owning 319 shares worth $84,000 after acquiring an additional 39 shares. Similarly, Associated Banc Corp raised its holdings by 1.4%, bringing its total to 2,734 shares valued at $731,000.
Park National Corp OH has also made a notable increase, lifting its stake by 1.6% to own 2,580 shares worth $690,000 after purchasing an additional 40 shares. ORG Partners LLC boosted its position by 5.6%, now holding 776 shares valued at $207,000 following the acquisition of 41 shares. Finally, Park Place Capital Corp expanded its stake by 33.1%, now owning 165 shares worth $44,000.
Currently, 82.45% of Travelers Companies’ stock is held by institutional investors and hedge funds. As of the last trading session, shares of NYSE TRV opened at $295.08. The company’s 50-day simple moving average stands at $278.20, while the 200-day simple moving average is $271.27. Travelers Companies has a market capitalization of $65.82 billion and a price-to-earnings ratio of 11.60.
The firm has reported a 52-week low of $230.23 and a 52-week high of $296.85, indicating the stock’s significant fluctuations over the past year.
Dividend Announcement and Analyst Ratings
Recently, The Travelers Companies announced a quarterly dividend of $1.10 per share. This dividend will be paid on December 31, 2023, to shareholders on record as of December 10, 2023. This represents an annualized dividend of $4.40 and a yield of 1.5%. The ex-dividend date is also set for December 10, 2023, and the company’s dividend payout ratio stands at 17.30%.
Analysts have been active in assessing Travelers Companies, with various research firms recently issuing reports. Cantor Fitzgerald upgraded shares to a “strong-buy” rating on August 13, 2023. Barclays set a price target of $313.00 on October 8, 2023, while Wall Street Zen downgraded the stock from a “buy” to a “hold” rating on October 19, 2023. Weiss Ratings reaffirmed a “buy (b)” rating, and The Goldman Sachs Group reiterated a “buy” rating on October 17, 2023.
Overall, the stock has received a consensus rating of “Hold” with an average target price of $292.73, as reported by MarketBeat.com.
Insider Transactions
In other news, significant insider trading activity has been reported. Executive Vice President Michael Frederick Klein sold 8,572 shares on October 28, 2023, at an average price of $270.73, totaling approximately $2.32 million. Following this transaction, Klein retains 33,638 shares in the company, valued at about $9.1 million, representing a 20.31% decrease in his position.
Additionally, Vice Chairman William H. Heyman sold 1,803 shares on November 13, 2023, for a total of $522,058.65. Post-transaction, Heyman holds 255,086 shares, valued at around $73.86 million, reflecting a 0.70% drop in ownership. In total, insiders have sold 37,375 shares valued at approximately $10.37 million over the past three months, and insiders currently own 1.46% of the stock.
The Travelers Companies, Inc. provides a wide range of commercial and personal property and casualty insurance products and services through its various subsidiaries. The firm operates in three segments: Business Insurance, Bond & Specialty Insurance, and Personal Insurance, catering to businesses, government units, associations, and individuals both in the United States and internationally.
