West Family Investments Inc. has significantly increased its holdings in The Travelers Companies, Inc. by 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’s stock, following the acquisition of an additional 481 shares in that period. As of the latest filing with the Securities and Exchange Commission (SEC), West Family Investments’ stake in Travelers is valued at approximately $551,000.
Several other institutional investors have also adjusted their positions in Travelers. Y.D. More Investments Ltd increased its stake by 13.9% in the first quarter, owning 319 shares valued at $84,000 after acquiring 39 additional shares. Similarly, Associated Banc Corp raised its position by 1.4% in the second quarter, now holding 2,734 shares worth $731,000 after buying 39 shares. Park National Corp OH increased its stake by 1.6%, owning 2,580 shares valued at $690,000 after acquiring 40 shares. ORG Partners LLC boosted its holdings by 5.6%, now owning 776 shares worth $207,000 following the purchase of 41 shares.
As of now, institutional investors and hedge funds collectively own approximately 82.45% of Travelers Companies’ stock.
Stock Performance and Dividend Announcement
Shares of The Travelers Companies, listed on the NYSE under the ticker TRV, opened at $295.08 on October 27, 2023. The company’s recent performance shows a 50-day simple moving average of $278.20 and a 200-day simple moving average of $271.27. Travelers has a market capitalization of $65.82 billion, a price-to-earnings ratio of 11.60, and a price-to-earnings-growth ratio of 2.38. The stock has fluctuated between a low of $230.23 and a high of $296.85 over the past year.
In an update for investors, Travelers announced a quarterly dividend of $1.10, set to be paid on December 31, 2023. Shareholders of record as of December 10, 2023 will receive this dividend, which translates to an annualized dividend of $4.40 and a yield of 1.5%. The company currently has a dividend payout ratio of 17.30%.
Analyst Ratings and Insider Transactions
Recent reports from various research firms have influenced Travelers’ stock outlook. Cantor Fitzgerald upgraded the shares to a “strong-buy” rating, while Barclays set a price target of $313.00. Additionally, Wall Street Zen downgraded the stock from “buy” to “hold.” According to MarketBeat.com, the consensus rating for Travelers is “Hold,” with an average target price of $292.73.
Insider trading activity has also been notable. On October 28, 2023, Executive Vice President Michael Frederick Klein sold 8,572 shares at an average price of $270.73, totaling approximately $2.32 million. Following this transaction, he retained 33,638 shares valued at around $9.1 million. Meanwhile, Vice Chairman William H. Heyman sold 1,803 shares on November 13, 2023, for a total of $522,058.65, resulting in a slight decrease in his holdings.
In total, insiders have sold 37,375 shares of the company in the last three months, amounting to around $10.37 million in value. Currently, insiders hold 1.46% of Travelers’ stock.
The Travelers Companies, Inc. operates through its subsidiaries, offering a variety of commercial and personal property and casualty insurance products and services to businesses, government entities, and individuals both in the United States and internationally. The firm operates across three segments: Business Insurance, Bond & Specialty Insurance, and Personal Insurance.
For those interested in tracking further developments, updates on hedge fund holdings and insider transactions related to Travelers can be found on HoldingsChannel.com.
