West Family Investments Inc. has significantly increased its holdings in The Travelers Companies, Inc. (NYSE: TRV) by 30.4% during the second quarter of 2023. According to reports from Holdings Channel, the investment fund acquired an additional 481 shares, bringing its total to 2,061 shares. As of the latest filing with the Securities and Exchange Commission (SEC), the value of West Family Investments’ stake in Travelers Companies stands at approximately $551,000.
Several other institutional investors and hedge funds have also adjusted their positions in Travelers Companies recently. For instance, Y.D. More Investments Ltd raised its stake by 13.9% in the first quarter, now holding 319 shares valued at $84,000. Similarly, Associated Banc Corp increased its holdings by 1.4% in the second quarter, resulting in ownership of 2,734 shares worth around $731,000. Park National Corp OH also boosted its stake by 1.6%, while ORG Partners LLC raised its position by 5.6% during the same period. Notably, Park Place Capital Corp grew its stake by 33.1%, now owning 165 shares valued at $44,000. Currently, institutional investors and hedge funds collectively own 82.45% of Travelers Companies’ stock.
Travelers Companies Stock Performance and Dividend Announcement
On Friday, shares of Travelers Companies opened at $295.08. The company has shown notable performance metrics, including a market capitalization of $65.82 billion and a price-to-earnings ratio of 11.60. Its 52-week range has seen a low of $230.23 and a high of $296.85. The firm also declared a quarterly dividend of $1.10 per share, set to be paid on December 31, 2023. Shareholders of record on December 10 will receive this dividend, which translates to an annualized payout of $4.40 and a yield of 1.5%. The current dividend payout ratio stands at 17.30%.
Analysts have recently updated their outlook on the stock. Cantor Fitzgerald raised its rating to “strong-buy” in an August report, while Barclays set a price target of $313.00. In contrast, Wall Street Zen downgraded its rating from “buy” to “hold.” Overall, the consensus rating for Travelers Companies is categorized as “Hold,” with an average target price of $292.73.
Insider Transactions and Company Overview
In other developments, significant insider transactions have occurred within Travelers Companies. 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 sale, Klein retains 33,638 shares valued at around $9.11 million, marking a 20.31% decrease in his position.
Additionally, Vice Chairman William H. Heyman sold 1,803 shares on November 13, 2023, at an average price of $289.55, amounting to approximately $522,058.65. Post-transaction, Heyman holds 255,086 shares valued at around $73.86 million, reflecting a 0.70% decrease in ownership. Over the last three months, insiders have sold 37,375 shares valued at approximately $10.37 million, with insiders currently holding 1.46% of the company’s stock.
The Travelers Companies, Inc. operates through subsidiaries, providing a range of commercial and personal property and casualty insurance products and services to various sectors, including businesses and individuals both in the United States and internationally. The company is structured into three segments: Business Insurance, Bond & Specialty Insurance, and Personal Insurance.
For further details on institutional holdings and insider transactions related to Travelers Companies, interested parties can visit HoldingsChannel.com for the latest updates.
