Muhlenkamp & Co. Inc. Purchases New Holdings in The Travelers Companies, Inc. $TRV

Key Points

• Muhlenkamp & Co. Inc. acquired a new stake in The Travelers Companies, purchasing 6,648 shares valued at approximately $1.76 million, making it the firm's 24th largest position.
• Recent analyst ratings have been mixed; while Cantor Fitzgerald upgraded the stock to a "strong-buy," Wall Street Zen downgraded it to a "hold" rating, reflecting varying perspectives on its performance.
• The Travelers Companies announced a quarterly dividend of $1.10 per share, representing an annualized yield of 1.7%, with the payout ratio currently at 19.46%.

Muhlenkamp & Co. Inc. acquired a new stake in The Travelers Companies, Inc. (NYSE:TRV - Free Report) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 6,648 shares of the insurance provider's stock, valued at approximately $1,758,000. Travelers Companies comprises about 0.6% of Muhlenkamp & Co. Inc.'s holdings, making the stock its 24th largest position.

A number of other large investors also recently made changes to their positions in the company. Bearing Point Capital LLC grew its holdings in shares of Travelers Companies by 2.0% during the 1st quarter. Bearing Point Capital LLC now owns 1,973 shares of the insurance provider's stock valued at $522,000 after purchasing an additional 38 shares during the last quarter. Forum Financial Management LP boosted its position in Travelers Companies by 0.9% in the first quarter. Forum Financial Management LP now owns 4,428 shares of the insurance provider's stock valued at $1,171,000 after buying an additional 39 shares in the last quarter. Y.D. More Investments Ltd grew its stake in shares of Travelers Companies by 13.9% during the first quarter. Y.D. More Investments Ltd now owns 319 shares of the insurance provider's stock worth $84,000 after buying an additional 39 shares during the last quarter. Smith Salley Wealth Management increased its holdings in shares of Travelers Companies by 0.6% during the first quarter. Smith Salley Wealth Management now owns 7,321 shares of the insurance provider's stock worth $1,936,000 after buying an additional 44 shares in the last quarter. Finally, Northern Financial Advisors Inc increased its holdings in shares of Travelers Companies by 0.7% during the first quarter. Northern Financial Advisors Inc now owns 6,576 shares of the insurance provider's stock worth $1,739,000 after buying an additional 45 shares in the last quarter. Institutional investors own 82.45% of the company's stock.

Analyst Ratings Changes

A number of brokerages recently weighed in on TRV. Wall Street Zen lowered Travelers Companies from a "buy" rating to a "hold" rating in a research report on Saturday, August 9th. Citigroup initiated coverage on Travelers Companies in a research report on Wednesday, August 13th. They issued a "neutral" rating and a $291.00 target price for the company. Cantor Fitzgerald upgraded Travelers Companies to a "strong-buy" rating in a research report on Wednesday, August 13th. Keefe, Bruyette & Woods increased their target price on Travelers Companies from $304.00 to $316.00 and gave the company an "outperform" rating in a research report on Friday, July 18th. Finally, UBS Group increased their target price on Travelers Companies from $275.00 to $284.00 and gave the company a "neutral" rating in a research report on Monday, July 21st. Two analysts have rated the stock with a sell rating, eleven have assigned a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $284.56.

Travelers Companies Stock Performance

TRV stock opened at $265.57 on Monday. The Travelers Companies, Inc. has a 1-year low of $215.39 and a 1-year high of $277.83. The firm has a market cap of $59.79 billion, a PE ratio of 11.75, a price-to-earnings-growth ratio of 3.05 and a beta of 0.51. The stock has a 50-day moving average price of $262.41 and a 200-day moving average price of $259.43. The company has a current ratio of 0.33, a quick ratio of 0.33 and a debt-to-equity ratio of 0.27.

Travelers Companies (NYSE:TRV - Get Free Report) last issued its quarterly earnings data 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 firm had revenue of $11.54 billion during the quarter, compared to analyst estimates of $11.02 billion. Travelers Companies had a return on equity of 18.68% and a net margin of 10.97%. The company's revenue for the quarter was up 7.4% on a year-over-year basis. During the same period in the previous year, the company posted $2.51 EPS. As a group, equities research analysts expect that The Travelers Companies, Inc. will post 17.02 earnings per share for the current year.

Travelers Companies Announces Dividend

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

Insider Activity

In other news, insider Avrohom J. Kess sold 23,434 shares of the company's stock in a transaction that occurred on 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 $13,254,650.91. This represents a 32.63% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Daniel S. Frey sold 20,286 shares of the company's stock in a transaction that occurred on Thursday, May 29th. The shares were 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 represents a 42.96% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 175,374 shares of company stock worth $47,929,912. Company insiders own 1.46% of the company's stock.

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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