Castle Rock Wealth Management LLC Cuts Stock Holdings in The Travelers Companies, Inc. (NYSE:TRV)

12 Oct 2024, 11:02 by Amy Steele · The Cerbat Gem

Castle Rock Wealth Management LLC decreased its stake in shares of The Travelers Companies, Inc. (NYSE:TRV – Free Report) by 18.3% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 958 shares of the insurance provider’s stock after selling 214 shares during the period. Castle Rock Wealth Management LLC’s holdings in Travelers Companies were worth $219,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of TRV. GLOBALT Investments LLC GA purchased a new position in shares of Travelers Companies during the fourth quarter valued at approximately $11,472,000. V Square Quantitative Management LLC lifted its holdings in Travelers Companies by 88.7% during the fourth quarter. V Square Quantitative Management LLC now owns 5,946 shares of the insurance provider’s stock worth $1,133,000 after acquiring an additional 2,795 shares during the period. Scarborough Advisors LLC bought a new stake in Travelers Companies during the fourth quarter worth $222,000. Beacon Financial Group bought a new stake in Travelers Companies during the fourth quarter worth $1,602,000. Finally, Chicago Partners Investment Group LLC bought a new stake in Travelers Companies during the fourth quarter worth $262,000. Hedge funds and other institutional investors own 82.45% of the company’s stock.

Insider Transactions at Travelers Companies

In other news, EVP Michael Frederick Klein sold 10,000 shares of the company’s stock in a transaction dated Thursday, July 25th. The stock was sold at an average price of $211.44, for a total value of $2,114,400.00. Following the completion of the transaction, the executive vice president now directly owns 22,798 shares in the company, valued at approximately $4,820,409.12. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 1.33% of the company’s stock.

Travelers Companies Price Performance

Travelers Companies stock opened at $236.58 on Friday. The Travelers Companies, Inc. has a 52 week low of $157.33 and a 52 week high of $243.48. The business has a 50-day simple moving average of $227.80 and a 200 day simple moving average of $218.87. 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 stock has a market cap of $53.92 billion, a price-to-earnings ratio of 14.95, a PEG ratio of 1.21 and a beta of 0.62.

Travelers Companies (NYSE:TRV – Get Free Report) last posted its earnings results on Friday, July 19th. The insurance provider reported $2.51 EPS for the quarter, missing the consensus estimate of $3.23 by ($0.72). Travelers Companies had a return on equity of 15.90% and a net margin of 8.37%. The business had revenue of $11.28 billion for the quarter, compared to analysts’ expectations of $11.35 billion. During the same quarter in the previous year, the firm earned $0.06 earnings per share. Travelers Companies’s quarterly revenue was up 11.7% compared to the same quarter last year. On average, research analysts forecast that The Travelers Companies, Inc. will post 17.2 earnings per share for the current fiscal year.

Travelers Companies Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Tuesday, September 10th were issued a $1.05 dividend. This represents a $4.20 dividend on an annualized basis and a dividend yield of 1.78%. The ex-dividend date was Tuesday, September 10th. Travelers Companies’s payout ratio is currently 26.55%.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on TRV. Royal Bank of Canada reiterated a “sector perform” rating and set a $225.00 price target on shares of Travelers Companies in a report on Monday, July 22nd. The Goldman Sachs Group lifted their price target on Travelers Companies from $196.00 to $216.00 and gave the stock a “sell” rating in a report on Wednesday. Morgan Stanley dropped their price target on Travelers Companies from $220.00 to $210.00 and set an “equal weight” rating on the stock in a report on Friday, July 19th. Deutsche Bank Aktiengesellschaft lifted their price target on Travelers Companies from $221.00 to $234.00 and gave the stock a “hold” rating in a report on Wednesday, August 7th. Finally, Bank of America boosted their target price on Travelers Companies from $223.00 to $241.00 and gave the company an “underperform” rating in a research note on Thursday. Four investment analysts have rated the stock with a sell rating, fourteen have issued a hold rating, four have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $230.89.

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