The Manufacturers Life Insurance Company acquired a new stake in shares of The Travelers Companies, Inc. (NYSE:TRV – Free Report) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 1,230,979 shares of the insurance provider’s stock, valued at approximately $271,418,000.
Several other hedge funds have also recently modified their holdings of the stock. Brighton Jones LLC grew its stake in Travelers Companies by 13.4% during the fourth quarter. Brighton Jones LLC now owns 3,277 shares of the insurance provider’s stock valued at $789,000 after acquiring an additional 387 shares in the last quarter. Revolve Wealth Partners LLC purchased a new stake in Travelers Companies in the 4th quarter worth $276,000. WINTON GROUP Ltd purchased a new stake in Travelers Companies in the 2nd quarter worth $382,000. CIBC Asset Management Inc boosted its holdings in shares of Travelers Companies by 13.9% during the 2nd quarter. CIBC Asset Management Inc now owns 68,537 shares of the insurance provider’s stock valued at $18,336,000 after purchasing an additional 8,383 shares during the last quarter. Finally, Treasurer of the State of North Carolina boosted its holdings in shares of Travelers Companies by 2.0% during the 2nd quarter. Treasurer of the State of North Carolina now owns 105,605 shares of the insurance provider’s stock valued at $28,254,000 after purchasing an additional 2,117 shares during the last quarter. Hedge funds and other institutional investors own 82.45% of the company’s stock.
Travelers Companies Trading Up 1.9%
Shares of NYSE TRV opened at $370.65 on Tuesday. The Travelers Companies, Inc. has a 1-year low of $252.26 and a 1-year high of $398.70. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.33 and a quick ratio of 0.33. The business’s 50 day moving average is $353.55 and its two-hundred day moving average is $318.93. The stock has a market capitalization of $77.31 billion, a P/E ratio of 9.93, a PEG ratio of 3.46 and a beta of 0.45.
Travelers Companies Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Thursday, September 10th will be given a $1.25 dividend. The ex-dividend date is Thursday, September 10th. This represents a $5.00 dividend on an annualized basis and a yield of 1.3%. Travelers Companies’s dividend payout ratio (DPR) is currently 13.39%.
Insider Buying and Selling
In other Travelers Companies news, CFO Daniel S. Frey sold 14,037 shares of Travelers Companies stock in a transaction on Tuesday, July 21st. The shares were sold at an average price of $368.24, for a total transaction of $5,168,984.88. Following the completion of the transaction, the chief financial officer directly owned 27,535 shares of the company’s stock, valued at $10,139,488.40. The trade was a 33.77% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP David Donnay Rowland sold 5,000 shares of the business’s stock in a transaction on Wednesday, July 22nd. The shares were sold at an average price of $371.69, for a total transaction of $1,858,450.00. Following the transaction, the executive vice president owned 10,479 shares in the company, valued at $3,894,939.51. This trade represents a 32.30% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 52,667 shares of company stock valued at $19,611,829 over the last 90 days. 1.39% of the stock is currently owned by insiders.
Wall Street Analysts Forecast Growth
Several equities research analysts have recently issued reports on TRV shares. Morgan Stanley lifted their target price on Travelers Companies from $290.00 to $330.00 and gave the stock an “underweight” rating in a report on Tuesday, July 21st. UBS Group raised their price target on Travelers Companies from $314.00 to $350.00 and gave the company a “neutral” rating in a report on Wednesday, July 8th. Cantor Fitzgerald lifted their price objective on Travelers Companies from $335.00 to $360.00 and gave the stock an “overweight” rating in a research note on Thursday, July 9th. HSBC upped their price objective on Travelers Companies from $321.00 to $351.00 and gave the stock a “hold” rating in a report on Monday, July 6th. Finally, Deutsche Bank Aktiengesellschaft reissued a “hold” rating on shares of Travelers Companies in a report on Tuesday, July 21st. Four equities research analysts have rated the stock with a Strong Buy rating, four have given a Buy rating, thirteen have given a Hold rating and five have issued a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $354.26.
View Our Latest Analysis on Travelers Companies
Travelers Companies Profile
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.
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