The Manufacturers Life Insurance Company purchased 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 disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 132,250 shares of the insurance provider’s stock, valued at approximately $43,658,000. The Manufacturers Life Insurance Company owned 0.06% of Travelers Companies as of its most recent SEC filing.
Other hedge funds also recently modified their holdings of the company. Jones Financial Companies Lllp bought a new position in shares of Travelers Companies during the 2nd quarter valued at about $19,770,000. Sone Capital Management LLC acquired a new stake in Travelers Companies during the 2nd quarter worth approximately $18,605,000. Trajan Wealth LLC acquired a new stake in Travelers Companies during the 2nd quarter worth approximately $8,127,000. Van Hulzen Asset Management LLC acquired a new position in shares of Travelers Companies in the second quarter valued at approximately $236,000. Finally, Veratis Advisors Inc. bought a new stake in shares of Travelers Companies during the second quarter worth $891,000. Institutional investors own 82.45% of the company’s stock.
Insiders Place Their Bets
In related news, EVP Mojgan M. Lefebvre sold 16,313 shares of the business’s stock in a transaction on Tuesday, July 21st. The shares were sold at an average price of $368.38, for a total transaction of $6,009,382.94. Following the transaction, the executive vice president directly owned 9,213 shares in the company, valued at approximately $3,393,884.94. The trade was a 63.91% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Daniel S. Frey sold 14,037 shares of the business’s stock in a transaction on Tuesday, July 21st. The stock was sold at an average price of $368.24, for a total transaction of $5,168,984.88. Following the transaction, the chief financial officer owned 27,535 shares in the company, valued at approximately $10,139,488.40. The trade was a 33.77% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 52,667 shares of company stock valued at $19,611,829 in the last ninety days. 1.39% of the stock is currently owned by insiders.
Travelers Companies Stock Performance
Travelers Companies (NYSE:TRV – Get Free Report) last posted its quarterly earnings results 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. The firm had revenue of $12.15 billion during the quarter, compared to the consensus estimate of $11.26 billion. Travelers Companies had a return on equity of 25.41% and a net margin of 16.95%.The business’s revenue was up .3% compared to the same quarter last year. During the same period last year, the company earned $6.51 earnings per share. As a group, sell-side analysts expect that The Travelers Companies, Inc. will post 33.82 earnings per share for the current fiscal year.
Travelers Companies Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Thursday, September 10th will be issued a $1.25 dividend. This represents a $5.00 annualized dividend and a dividend yield of 1.3%. The ex-dividend date of this dividend is Thursday, September 10th. Travelers Companies’s dividend payout ratio is presently 13.39%.
Wall Street Analyst Weigh In
TRV has been the topic of several research reports. Weiss Ratings raised shares of Travelers Companies from a “buy (a-)” rating to a “buy (a)” rating in a research report on Thursday, August 20th. BMO Capital Markets lowered Travelers Companies from an “outperform” rating to a “market perform” rating and lifted their target price for the company from $314.00 to $379.00 in a research report on Tuesday, July 21st. Mizuho boosted their target price on Travelers Companies from $324.00 to $343.00 and gave the company a “neutral” rating in a research note on Friday, July 24th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating on shares of Travelers Companies in a research report on Tuesday, July 21st. Finally, Raymond James Financial set a $430.00 price objective on shares of Travelers Companies in a report on Monday, July 20th. Four 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 given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $354.26.
Read Our Latest Report on Travelers Companies
Travelers Companies Company 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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