The Manufacturers Life Insurance Company reduced its stake in shares of The Travelers Companies, Inc. (NYSE:TRV – Free Report) by 10.4% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 114,654 shares of the insurance provider’s stock after selling 13,276 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in Travelers Companies were worth $33,442,000 as of its most recent SEC filing.
Other institutional investors also recently added to or reduced their stakes in the company. Arbejdsmarkedets Tillaegspension acquired a new stake in shares of Travelers Companies in the 4th quarter worth $24,167,000. Rit Capital Partners PLC acquired a new position in Travelers Companies during the 4th quarter valued at about $39,450,000. Robeco Institutional Asset Management B.V. increased its position in Travelers Companies by 17.3% during the 4th quarter. Robeco Institutional Asset Management B.V. now owns 901,938 shares of the insurance provider’s stock valued at $261,616,000 after buying an additional 133,152 shares in the last quarter. UBS Group AG raised its stake in Travelers Companies by 5.3% in the fourth quarter. UBS Group AG now owns 1,774,756 shares of the insurance provider’s stock valued at $514,786,000 after buying an additional 89,159 shares during the last quarter. Finally, Cantor Fitzgerald Investment Advisors L.P. raised its stake in Travelers Companies by 18.9% in the fourth quarter. Cantor Fitzgerald Investment Advisors L.P. now owns 54,054 shares of the insurance provider’s stock valued at $15,679,000 after buying an additional 8,591 shares during the last quarter. Institutional investors own 82.45% of the company’s stock.
Insider Activity at Travelers Companies
In other news, CFO Daniel S. Frey sold 14,037 shares of the company’s stock in a transaction on Tuesday, July 21st. The shares were sold at an average price of $368.24, for a total value of $5,168,984.88. Following the sale, the chief financial officer directly owned 27,535 shares of the company’s stock, valued at $10,139,488.40. This represents a 33.77% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Mojgan M. Lefebvre sold 16,313 shares of the stock in a transaction on Tuesday, July 21st. The stock was sold at an average price of $368.38, for a total transaction of $6,009,382.94. Following the completion of the sale, the executive vice president owned 9,213 shares in the company, valued at $3,393,884.94. The trade was a 63.91% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 62,667 shares of company stock worth $22,688,329 in the last ninety days. 1.39% of the stock is owned by company insiders.
Travelers Companies Stock Performance
Travelers Companies (NYSE:TRV – Get Free Report) last announced its quarterly earnings data on Friday, July 17th. The insurance provider reported $10.04 earnings per share for the quarter, beating analysts’ consensus estimates of $5.41 by $4.63. Travelers Companies had a return on equity of 25.41% and a net margin of 16.95%.The business had revenue of $12.15 billion for the quarter, compared to analyst estimates of $11.26 billion. During the same period in the prior year, the company earned $6.51 earnings per share. The company’s revenue was up .3% on a year-over-year basis. As a group, research analysts predict that The Travelers Companies, Inc. will post 33.47 EPS for the current year.
Travelers Companies Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Thursday, September 10th will be issued a $1.25 dividend. This represents a $5.00 annualized dividend and a yield of 1.3%. The ex-dividend date is Thursday, September 10th. Travelers Companies’s dividend payout ratio is 13.39%.
Analyst Ratings Changes
A number of equities research analysts have recently weighed in on TRV shares. Mizuho boosted their price target on Travelers Companies from $324.00 to $343.00 and gave the stock a “neutral” rating in a research note on Friday, July 24th. JPMorgan Chase & Co. raised shares of Travelers Companies from an “underweight” rating to a “neutral” rating and increased their price objective for the company from $316.00 to $322.00 in a research report on Tuesday, May 26th. Roth Capital lifted their target price on shares of Travelers Companies from $345.00 to $425.00 and gave the stock a “buy” rating in a research note on Tuesday, July 21st. UBS Group boosted their target price on shares of Travelers Companies from $314.00 to $350.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 8th. Finally, Zacks Research upgraded shares of Travelers Companies from a “hold” rating to a “strong-buy” rating in a research note on Wednesday. Four analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating, thirteen have issued a Hold rating and five have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $354.26.
Read Our Latest Report on Travelers Companies
About Travelers Companies
The Travelers Companies, Inc (NYSE: TRV) is a leading provider of property and casualty insurance products and services. The company underwrites a broad range of commercial and personal insurance lines, offering coverage designed to protect individuals, small and midsize businesses, and large corporate clients against property loss, liability, and other operational risks. Travelers is known for combining underwriting, claims management and risk control services to help clients prevent losses and recover when incidents occur.
On the commercial side, Travelers writes primary and specialty coverages including property, general liability, commercial auto, workers’ compensation, professional and management liability, surety and inland marine.
Featured Articles
- Five stocks we like better than Travelers Companies
- Chevron’s Strong Quarter Shows Why It Still Leads the Energy Sector
- Amazon’s Earnings Beat Shows Why AWS Is Back at the Center of the Bull Case
- Apple’s Record Quarter Could Not Outrun Its Guidance Problem
- McKesson’s Compounding Keeps Adding Up
Want to see what other hedge funds are holding TRV? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for The Travelers Companies, Inc. (NYSE:TRV – Free Report).
Receive News & Ratings for Travelers Companies Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Travelers Companies and related companies with MarketBeat.com's FREE daily email newsletter.
