Manning & Napier Advisors LLC Sells 5,590 Shares of The Travelers Companies, Inc. (NYSE:TRV)

Manning & Napier Advisors LLC lowered its holdings in The Travelers Companies, Inc. (NYSE:TRV - Free Report) by 7.5% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 69,072 shares of the insurance provider's stock after selling 5,590 shares during the quarter. Manning & Napier Advisors LLC's holdings in Travelers Companies were worth $18,267,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Cullinan Associates Inc. grew its stake in shares of Travelers Companies by 20.5% in the 1st quarter. Cullinan Associates Inc. now owns 21,502 shares of the insurance provider's stock valued at $5,686,000 after purchasing an additional 3,653 shares during the period. Advisor Resource Council bought a new stake in Travelers Companies in the first quarter valued at $245,000. Segment Wealth Management LLC grew its position in Travelers Companies by 30.4% in the first quarter. Segment Wealth Management LLC now owns 1,609 shares of the insurance provider's stock valued at $426,000 after acquiring an additional 375 shares during the period. Cantor Fitzgerald Investment Advisors L.P. grew its position in Travelers Companies by 1.3% in the first quarter. Cantor Fitzgerald Investment Advisors L.P. now owns 50,451 shares of the insurance provider's stock valued at $13,342,000 after acquiring an additional 655 shares during the period. Finally, Trifecta Capital Advisors LLC grew its position in Travelers Companies by 13.4% in the first quarter. Trifecta Capital Advisors LLC now owns 422 shares of the insurance provider's stock valued at $112,000 after acquiring an additional 50 shares during the period. Institutional investors own 82.45% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on TRV shares. Jefferies Financial Group upped their target price on shares of Travelers Companies from $265.00 to $270.00 and gave the stock a "hold" rating in a report on Friday, April 11th. Wells Fargo & Company upped their price objective on shares of Travelers Companies from $247.00 to $260.00 and gave the stock an "equal weight" rating in a research note on Thursday, April 17th. HSBC cut shares of Travelers Companies from a "buy" rating to a "hold" rating and set a $270.00 price objective on the stock. in a research note on Monday, March 24th. UBS Group decreased their price target on Travelers Companies from $270.00 to $267.00 and set a "neutral" rating on the stock in a research report on Wednesday, April 9th. Finally, JPMorgan Chase & Co. increased their price target on Travelers Companies from $260.00 to $271.00 and gave the stock an "underweight" rating in a research report on Tuesday, April 8th. Three research analysts have rated the stock with a sell rating, eleven have given a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $271.11.

Travelers Companies Trading Up 0.1%

Shares of TRV traded up $0.16 on Friday, reaching $265.06. 2,979,218 shares of the company's stock were exchanged, compared to its average volume of 1,288,522. The company has a current ratio of 0.33, a quick ratio of 0.33 and a debt-to-equity ratio of 0.28. The stock has a market capitalization of $59.87 billion, a P/E ratio of 14.43, a price-to-earnings-growth ratio of 3.87 and a beta of 0.53. The business has a 50 day moving average price of $266.19 and a two-hundred day moving average price of $254.20. The Travelers Companies, Inc. has a 12 month low of $200.21 and a 12 month high of $277.83.

Travelers Companies (NYSE:TRV - Get Free Report) last released its quarterly earnings data on Wednesday, April 16th. The insurance provider reported $1.91 EPS for the quarter, beating analysts' consensus estimates of $0.53 by $1.38. The business had revenue of $10.52 billion during the quarter, compared to the consensus estimate of $10.97 billion. Travelers Companies had a return on equity of 16.10% and a net margin of 9.09%. During the same quarter in the prior year, the company posted $4.69 earnings per share. Research analysts anticipate that The Travelers Companies, Inc. will post 17.02 earnings per share for the current year.

Travelers Companies Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Tuesday, June 10th will be paid a $1.10 dividend. The ex-dividend date is Tuesday, June 10th. This is a boost from Travelers Companies's previous quarterly dividend of $1.05. This represents a $4.40 dividend on an annualized basis and a dividend yield of 1.66%. Travelers Companies's dividend payout ratio is 23.95%.

Insider Activity

In related news, CFO Daniel S. Frey sold 20,286 shares of the stock in a transaction that occurred on Thursday, May 29th. The stock was sold at an average price of $273.48, for a total transaction of $5,547,815.28. Following the completion of the sale, the chief financial officer now directly owns 26,932 shares of the company's stock, valued at approximately $7,365,363.36. This represents a 42.96% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Alan D. Schnitzer sold 35,456 shares of the stock in a transaction on Thursday, May 29th. The stock was sold at an average price of $273.78, for a total transaction of $9,707,143.68. Following the sale, the chief executive officer now directly owns 262,329 shares of the company's stock, valued at $71,820,433.62. This represents a 11.91% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 163,869 shares of company stock valued at $44,868,201 in the last ninety days. 1.46% of the stock is owned by insiders.

About Travelers Companies

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.