Mackenzie Financial Corp Has $58.09 Million Stock Position in The Travelers Companies, Inc. (NYSE:TRV)

Key Points

• Mackenzie Financial Corp increased its stake in The Travelers Companies by 10.9% during the 1st quarter, raising its ownership to $58.09 million in value.
• The company's stock saw a decrease of 2.4% recently, with current shares trading at $254.71 and a marked market cap of $57.34 billion.
• The Travelers Companies announced a quarterly dividend of $1.10 per share, which will represent an annualized yield of 1.73% for shareholders of record.

Mackenzie Financial Corp lifted its stake in shares of The Travelers Companies, Inc. (NYSE:TRV - Free Report) by 10.9% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 219,653 shares of the insurance provider's stock after purchasing an additional 21,509 shares during the quarter. Mackenzie Financial Corp owned 0.10% of Travelers Companies worth $58,089,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. FMR LLC boosted its holdings in shares of Travelers Companies by 1.6% in the 4th quarter. FMR LLC now owns 14,277,851 shares of the insurance provider's stock valued at $3,439,392,000 after purchasing an additional 229,160 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of Travelers Companies by 3.6% in the 4th quarter. Geode Capital Management LLC now owns 5,258,490 shares of the insurance provider's stock valued at $1,269,321,000 after purchasing an additional 182,270 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in shares of Travelers Companies by 1.9% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 3,752,484 shares of the insurance provider's stock valued at $903,937,000 after purchasing an additional 70,036 shares in the last quarter. Bank of America Corp DE boosted its holdings in shares of Travelers Companies by 236.9% in the 4th quarter. Bank of America Corp DE now owns 3,507,219 shares of the insurance provider's stock valued at $844,854,000 after purchasing an additional 2,466,098 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its holdings in shares of Travelers Companies by 7.8% in the 4th quarter. Dimensional Fund Advisors LP now owns 3,377,966 shares of the insurance provider's stock valued at $813,704,000 after purchasing an additional 243,484 shares in the last quarter. 82.45% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Travelers Companies

In other news, CFO Daniel S. Frey sold 20,286 shares of Travelers Companies stock in a transaction dated Thursday, May 29th. The stock was sold at an average price of $273.48, for a total value of $5,547,815.28. Following the completion of the transaction, the chief financial officer directly owned 26,932 shares of the company's stock, valued at approximately $7,365,363.36. This trade represents a 42.96% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Avrohom J. Kess sold 23,434 shares of Travelers Companies stock in a transaction dated Thursday, May 29th. The stock was sold at an average price of $273.93, for a total value of $6,419,275.62. Following the completion of the transaction, the insider directly owned 48,387 shares of the company's stock, valued at approximately $13,254,650.91. This trade represents a 32.63% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 175,374 shares of company stock worth $47,929,912. Corporate insiders own 1.46% of the company's stock.

Travelers Companies Stock Down 2.4%

Shares of NYSE:TRV opened at $254.71 on Tuesday. The firm has a market cap of $57.34 billion, a P/E ratio of 11.27, a P/E/G ratio of 3.09 and a beta of 0.51. The company has a quick ratio of 0.33, a current ratio of 0.33 and a debt-to-equity ratio of 0.27. The Travelers Companies, Inc. has a 12-month low of $206.43 and a 12-month high of $277.83. The business has a fifty day simple moving average of $265.06 and a 200 day simple moving average of $257.36.

Travelers Companies (NYSE:TRV - Get Free Report) last posted its quarterly earnings data on Thursday, July 17th. The insurance provider reported $6.51 earnings per share for the quarter, topping the consensus estimate of $3.52 by $2.99. Travelers Companies had a return on equity of 18.68% and a net margin of 10.97%. The firm had revenue of $11.54 billion during the quarter, compared to analyst estimates of $11.02 billion. During the same period last year, the company posted $2.51 EPS. The business's quarterly revenue was up 7.4% on a year-over-year basis. Analysts predict that The Travelers Companies, Inc. will post 17.02 earnings per share for the current year.

Travelers Companies Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Wednesday, September 10th will be given a $1.10 dividend. This represents a $4.40 annualized dividend and a dividend yield of 1.73%. The ex-dividend date is Wednesday, September 10th. Travelers Companies's dividend payout ratio (DPR) is presently 19.46%.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on TRV. Jefferies Financial Group raised their target price on Travelers Companies from $265.00 to $270.00 and gave the company a "hold" rating in a report on Friday, April 11th. Keefe, Bruyette & Woods raised their price objective on Travelers Companies from $304.00 to $316.00 and gave the company an "outperform" rating in a report on Friday, July 18th. Wells Fargo & Company raised their price objective on Travelers Companies from $264.00 to $275.00 and gave the company an "equal weight" rating in a report on Friday, July 18th. Barclays downgraded Travelers Companies from an "overweight" rating to an "equal weight" rating and cut their price objective for the company from $280.00 to $274.00 in a report on Monday, July 7th. Finally, Wall Street Zen raised Travelers Companies from a "hold" rating to a "buy" rating in a report on Friday, July 18th. Two equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and seven have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $275.56.

Travelers Companies Company 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.

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