Atria Wealth Solutions Inc. Lowers Stake in The Travelers Companies, Inc. (NYSE:TRV)

Atria Wealth Solutions Inc. cut its stake in The Travelers Companies, Inc. (NYSE:TRV) by 15.3% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 18,118 shares of the insurance provider’s stock after selling 3,270 shares during the period. Atria Wealth Solutions Inc.’s holdings in Travelers Companies were worth $3,685,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. JPMorgan Chase & Co. grew its holdings in shares of Travelers Companies by 36.8% during the 1st quarter. JPMorgan Chase & Co. now owns 11,743,236 shares of the insurance provider’s stock valued at $2,702,588,000 after purchasing an additional 3,158,979 shares during the last quarter. Norges Bank purchased a new position in shares of Travelers Companies in the fourth quarter worth about $282,593,000. International Assets Investment Management LLC increased its holdings in shares of Travelers Companies by 19,918.1% in the fourth quarter. International Assets Investment Management LLC now owns 475,830 shares of the insurance provider’s stock worth $90,641,000 after buying an additional 473,453 shares during the period. Zurich Insurance Group Ltd FI bought a new stake in shares of Travelers Companies in the 1st quarter valued at about $88,190,000. Finally, Boston Partners grew its position in Travelers Companies by 42.5% during the 4th quarter. Boston Partners now owns 1,192,008 shares of the insurance provider’s stock worth $227,175,000 after acquiring an additional 355,489 shares during the last quarter. Institutional investors own 82.45% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on TRV shares. TD Cowen lowered Travelers Companies from a “buy” rating to a “hold” rating and dropped their price objective for the company from $252.00 to $230.00 in a research note on Monday, July 15th. Piper Sandler reduced their price target 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. JPMorgan Chase & Co. raised their price objective on shares of Travelers Companies from $220.00 to $242.00 and gave the stock an “underweight” rating in a report on Thursday, July 11th. Royal Bank of Canada reiterated a “sector perform” rating and set a $225.00 target price on shares of Travelers Companies in a report on Monday, July 22nd. Finally, William Blair reissued a “market perform” rating on shares of Travelers Companies in a research report on Friday, June 28th. Four equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $223.78.

Travelers Companies Stock Down 0.1 %

NYSE:TRV traded down $0.11 on Wednesday, reaching $216.91. 761,315 shares of the stock traded hands, compared to its average volume of 1,352,106. The company’s fifty day simple moving average is $210.31 and its 200 day simple moving average is $215.40. The company has a market capitalization of $49.44 billion, a price-to-earnings ratio of 16.12, a PEG ratio of 1.12 and a beta of 0.61. The Travelers Companies, Inc. has a 12 month low of $157.33 and a 12 month high of $232.75. The company has a current ratio of 0.33, a quick ratio of 0.33 and a debt-to-equity ratio of 0.32.

Travelers Companies (NYSE:TRV) last released its quarterly earnings data on Friday, July 19th. The insurance provider reported $2.51 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.23 by ($0.72). The business had revenue of $11.28 billion during the quarter, compared to the consensus estimate of $11.35 billion. Travelers Companies had a net margin of 8.37% and a return on equity of 15.90%. The business’s revenue was up 11.7% compared to the same quarter last year. During the same period last year, the company posted $0.06 earnings per share. Equities analysts predict that The Travelers Companies, Inc. will post 17.23 EPS for the current fiscal year.

Travelers Companies Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Tuesday, September 10th will be issued a $1.05 dividend. The ex-dividend date is Tuesday, September 10th. This represents a $4.20 annualized dividend and a yield of 1.94%. Travelers Companies’s payout ratio is 31.20%.

Insiders Place Their Bets

In related news, EVP Michael Frederick Klein sold 10,000 shares of the stock in a transaction that occurred 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 transaction, the executive vice president now owns 22,798 shares in the company, valued at $4,820,409.12. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 1.33% of the stock is owned by insiders.

About Travelers Companies

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.