The Manufacturers Life Insurance Company Sells 2,108 Shares of The Travelers Companies, Inc. $TRV

Key Points

• The Manufacturers Life Insurance Company decreased its holdings in The Travelers Companies by 1.5% during the first quarter, owning approximately $37.57 million worth of shares.
• The Travelers Companies recently reported an earnings per share (EPS) of $6.51, significantly exceeding the consensus estimate of $3.52, alongside a revenue increase of 7.4% year-over-year.
• The company declared a quarterly dividend of $1.10, yielding 1.6%, which is set to be paid out on September 30th to shareholders of record on September 10th.

The Manufacturers Life Insurance Company lessened its stake in shares of The Travelers Companies, Inc. (NYSE:TRV - Free Report) by 1.5% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 142,068 shares of the insurance provider's stock after selling 2,108 shares during the quarter. The Manufacturers Life Insurance Company owned about 0.06% of Travelers Companies worth $37,571,000 as of its most recent filing with the SEC.

Several other large investors also recently made changes to their positions in TRV. Bank of America Corp DE boosted its stake in shares of Travelers Companies by 236.9% during the 4th quarter. Bank of America Corp DE now owns 3,507,219 shares of the insurance provider's stock worth $844,854,000 after acquiring an additional 2,466,098 shares in the last quarter. GAMMA Investing LLC boosted its stake in shares of Travelers Companies by 31,132.9% during the 1st quarter. GAMMA Investing LLC now owns 2,203,481 shares of the insurance provider's stock worth $582,733,000 after acquiring an additional 2,196,426 shares in the last quarter. Nuveen LLC bought a new stake in shares of Travelers Companies during the 1st quarter worth about $294,755,000. Balyasny Asset Management L.P. boosted its stake in shares of Travelers Companies by 153.8% during the 4th quarter. Balyasny Asset Management L.P. now owns 1,497,339 shares of the insurance provider's stock worth $360,694,000 after acquiring an additional 907,266 shares in the last quarter. Finally, Bahl & Gaynor Inc. boosted its stake in shares of Travelers Companies by 41.2% during the 1st quarter. Bahl & Gaynor Inc. now owns 1,679,275 shares of the insurance provider's stock worth $444,101,000 after acquiring an additional 490,039 shares in the last quarter. Institutional investors own 82.45% of the company's stock.

Insiders Place Their Bets

In related news, EVP Mojgan M. Lefebvre sold 16,820 shares of the firm's stock in a transaction on Friday, August 22nd. The stock was sold at an average price of $277.54, for a total transaction of $4,668,222.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Gregory C. Toczydlowski sold 11,505 shares of the firm's stock in a transaction on Monday, July 21st. The shares were sold at an average price of $266.12, for a total value of $3,061,710.60. Following the sale, the executive vice president directly owned 18,416 shares of the company's stock, valued at $4,900,865.92. This represents a 38.45% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 1.46% of the company's stock.

Analyst Ratings Changes

Several analysts recently weighed in on the company. Morgan Stanley set a $269.00 target price on Travelers Companies and gave the company an "equal weight" rating in a research note on Monday, May 19th. Barclays downgraded Travelers Companies from an "overweight" rating to an "equal weight" rating and decreased their target price for the company from $280.00 to $274.00 in a research note on Monday, July 7th. Cantor Fitzgerald upgraded Travelers Companies to a "strong-buy" rating in a research note on Wednesday, August 13th. Wells Fargo & Company increased their target price on Travelers Companies from $264.00 to $275.00 and gave the company an "equal weight" rating in a research note on Friday, July 18th. Finally, Wall Street Zen cut Travelers Companies from a "buy" rating to a "hold" rating in a report on Saturday, August 9th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, ten have given a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $284.56.

Travelers Companies Price Performance

Shares of TRV traded up $2.65 during mid-day trading on Wednesday, reaching $276.00. The company had a trading volume of 1,115,625 shares, compared to its average volume of 1,117,857. The Travelers Companies, Inc. has a twelve month low of $224.62 and a twelve month high of $279.04. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.33 and a quick ratio of 0.33. The company's 50-day moving average is $264.37 and its 200-day moving average is $261.77. The company has a market capitalization of $62.14 billion, a P/E ratio of 12.21, a P/E/G ratio of 3.12 and a beta of 0.53.

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

Travelers Companies Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Wednesday, September 10th will be issued a $1.10 dividend. The ex-dividend date of this dividend is Wednesday, September 10th. This represents a $4.40 dividend on an annualized basis and a dividend yield of 1.6%. Travelers Companies's dividend payout ratio is presently 19.46%.

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.