Mesirow Financial Investment Management Inc. Lowers Stake in The Travelers Companies, Inc. (NYSE:TRV)

Key Points

• Mesirow Financial Investment Management Inc. cut its stake in The Travelers Companies by 50%, now holding 1,945 shares valued at approximately $515,000.
• The Travelers Companies exceeded earnings expectations, reporting $6.51 EPS for the quarter, significantly above the consensus estimate of $3.52.
• Travelers announced a quarterly dividend of $1.10 per share to be paid on September 30th, reflecting a yield of 1.7%.

Mesirow Financial Investment Management Inc. reduced its holdings in shares of The Travelers Companies, Inc. (NYSE:TRV - Free Report) by 50.0% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,945 shares of the insurance provider's stock after selling 1,945 shares during the period. Mesirow Financial Investment Management Inc.'s holdings in Travelers Companies were worth $515,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the business. Cornerstone Planning Group LLC raised its holdings in Travelers Companies by 700.0% in the first quarter. Cornerstone Planning Group LLC now owns 96 shares of the insurance provider's stock worth $25,000 after buying an additional 84 shares during the last quarter. Ameriflex Group Inc. bought a new position in shares of Travelers Companies in the fourth quarter worth approximately $26,000. Putney Financial Group LLC bought a new position in shares of Travelers Companies during the fourth quarter worth $26,000. Kapitalo Investimentos Ltda bought a new position in shares of Travelers Companies during the fourth quarter worth $30,000. Finally, Hughes Financial Services LLC bought a new position in shares of Travelers Companies during the first quarter worth $33,000. 82.45% of the stock is owned by hedge funds and other institutional investors.

Travelers Companies Stock Up 0.5%

Shares of Travelers Companies stock opened at $260.13 on Friday. The firm's 50 day moving average price is $264.33 and its 200-day moving average price is $257.57. 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 52-week low of $206.43 and a 52-week high of $277.83. The company has a market cap of $58.56 billion, a P/E ratio of 11.51, a PEG ratio of 3.03 and a beta of 0.51.

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

Travelers Companies Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Wednesday, September 10th will be paid a dividend of $1.10 per share. This represents a $4.40 annualized dividend and a yield of 1.7%. The ex-dividend date is Wednesday, September 10th. Travelers Companies's payout ratio is presently 19.46%.

Insider Buying and Selling at Travelers Companies

In other Travelers Companies news, CFO Daniel S. Frey sold 20,286 shares of Travelers Companies stock in a transaction that occurred on Thursday, May 29th. The shares were 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 directly owned 26,932 shares in the company, valued at approximately $7,365,363.36. The trade was a 42.96% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Gregory C. Toczydlowski sold 11,505 shares of Travelers Companies stock in a transaction that occurred on Monday, July 21st. The shares were sold at an average price of $266.12, for a total transaction of $3,061,710.60. Following the sale, the executive vice president owned 18,416 shares of the company's stock, valued at approximately $4,900,865.92. The trade was a 38.45% 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.

Wall Street Analyst Weigh In

Several research firms have commented on TRV. JPMorgan Chase & Co. increased their price objective on shares of Travelers Companies from $260.00 to $271.00 and gave the company an "underweight" rating in a research report on Tuesday, April 8th. Evercore ISI lifted their price target on shares of Travelers Companies from $288.00 to $296.00 and gave the stock an "outperform" rating in a research note on Thursday, April 17th. Wells Fargo & Company raised their price target on shares of Travelers Companies from $264.00 to $275.00 and gave the stock an "equal weight" rating in a research note on Friday, July 18th. UBS Group raised their price target on shares of Travelers Companies from $275.00 to $284.00 and gave the stock a "neutral" rating in a research note on Monday, July 21st. Finally, Citigroup reaffirmed a "market perform" rating on shares of Travelers Companies in a research note on Monday, July 21st. Two analysts have rated the stock with a sell rating, eleven have assigned a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $279.82.

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.

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