The Manufacturers Life Insurance Company Sells 1,075 Shares of The Travelers Companies, Inc. (NYSE:TRV)

The Manufacturers Life Insurance Company cut its stake in The Travelers Companies, Inc. (NYSE:TRV) by 0.7% in the second quarter, Holdings Channel.com reports. The firm owned 147,839 shares of the insurance provider’s stock after selling 1,075 shares during the period. The Manufacturers Life Insurance Company’s holdings in Travelers Companies were worth $30,062,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently bought and sold shares of the stock. Nordea Investment Management AB raised its position in shares of Travelers Companies by 38.7% during the first quarter. Nordea Investment Management AB now owns 342,288 shares of the insurance provider’s stock valued at $78,689,000 after buying an additional 95,451 shares during the last quarter. Cetera Investment Advisers raised its stake in shares of Travelers Companies by 356.3% in the first quarter. Cetera Investment Advisers now owns 45,541 shares of the insurance provider’s stock valued at $10,481,000 after purchasing an additional 35,560 shares in the last quarter. Wellington Management Group LLP lifted its position in Travelers Companies by 100.9% in the fourth quarter. Wellington Management Group LLP now owns 50,910 shares of the insurance provider’s stock worth $9,698,000 after purchasing an additional 25,575 shares during the period. Nomura Holdings Inc. acquired a new stake in Travelers Companies during the fourth quarter worth $874,000. Finally, GAMMA Investing LLC increased its holdings in Travelers Companies by 162.6% in the 2nd quarter. GAMMA Investing LLC now owns 4,926 shares of the insurance provider’s stock valued at $1,002,000 after buying an additional 3,050 shares during the period. 82.45% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on TRV shares. TD Cowen lowered shares of Travelers Companies from a “buy” rating to a “hold” rating and decreased their target price for the company from $252.00 to $230.00 in a research report on Monday, July 15th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $225.00 price objective on shares of Travelers Companies in a research note on Monday, July 22nd. Deutsche Bank Aktiengesellschaft raised their target price on Travelers Companies from $221.00 to $234.00 and gave the stock a “hold” rating in a research report on Wednesday, August 7th. Citigroup upped their price target on Travelers Companies from $200.00 to $203.00 and gave the company a “sell” rating in a research report on Tuesday, July 30th. Finally, Barclays started coverage on shares of Travelers Companies in a research note on Wednesday, September 4th. They issued an “overweight” rating and a $286.00 target price on the stock. Four analysts have rated the stock with a sell rating, fourteen have issued a hold rating, four have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $227.05.

Insiders Place Their Bets

In related news, EVP Michael Frederick Klein sold 10,000 shares of the stock in a transaction that occurred on Thursday, July 25th. The shares were sold at an average price of $211.44, for a total value of $2,114,400.00. Following the sale, the executive vice president now directly owns 22,798 shares in the company, valued at approximately $4,820,409.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 1.33% of the company’s stock.

Travelers Companies Stock Performance

Travelers Companies stock opened at $234.12 on Tuesday. The company has a current ratio of 0.33, a quick ratio of 0.33 and a debt-to-equity ratio of 0.32. The company has a market cap of $53.36 billion, a PE ratio of 17.39, a PEG ratio of 1.24 and a beta of 0.62. The company’s 50-day moving average is $224.19 and its two-hundred day moving average is $218.22. The Travelers Companies, Inc. has a 1 year low of $157.33 and a 1 year high of $243.48.

Travelers Companies (NYSE:TRV) last released its earnings results on Friday, July 19th. The insurance provider reported $2.51 EPS for the quarter, missing analysts’ consensus estimates of $3.23 by ($0.72). The business had revenue of $11.28 billion for the quarter, compared to analyst estimates of $11.35 billion. Travelers Companies had a return on equity of 15.90% and a net margin of 8.37%. Travelers Companies’s revenue was up 11.7% on a year-over-year basis. During the same period in the prior year, the firm posted $0.06 EPS. Equities analysts anticipate that The Travelers Companies, Inc. will post 17.19 earnings per share for the current year.

Travelers Companies Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Tuesday, September 10th were paid a $1.05 dividend. This represents a $4.20 annualized dividend and a yield of 1.79%. The ex-dividend date of this dividend was Tuesday, September 10th. Travelers Companies’s payout ratio is 31.20%.

Travelers Companies Profile

The Travelers Companies, Inc, through its subsidiaries, provides a range of commercial and personal property, and casualty insurance products and services to businesses, government units, associations, and individuals in the United States and internationally. The company operates through three segments: Business Insurance, Bond & Specialty Insurance, and Personal Insurance.