The Manufacturers Life Insurance Company Takes Position in The Travelers Companies, Inc. $TRV

Key Points

• The Manufacturers Life Insurance Company acquired 1.23 million Travelers shares worth approximately $271.4 million, representing about 0.59% of the insurer. Institutional investors collectively own 82.45% of the company.
• Travelers reported quarterly EPS of $10.04, far exceeding the $5.41 analyst consensus, while revenue reached $12.15 billion. The company also declared a $1.25 quarterly dividend, equal to a 1.3% annual yield.
• TRV shares recently traded at $370.65, near the upper end of their 52-week range, but analyst sentiment remains mixed with an overall “Hold” rating and an average price target of $354.26; insiders also sold approximately $19.6 million in stock during the quarter.

The Manufacturers Life Insurance Company purchased a new position in The Travelers Companies, Inc. (NYSE:TRV - Free Report) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 1,230,979 shares of the insurance provider's stock, valued at approximately $271,418,000. The Manufacturers Life Insurance Company owned about 0.59% of Travelers Companies at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the company. Jones Financial Companies Lllp purchased a new stake in Travelers Companies during the second quarter valued at $19,770,000. Sone Capital Management LLC bought a new position in Travelers Companies in the second quarter valued at about $18,605,000. Trajan Wealth LLC purchased a new position in Travelers Companies in the second quarter worth about $8,127,000. Van Hulzen Asset Management LLC purchased a new position in Travelers Companies in the second quarter worth about $236,000. Finally, Veratis Advisors Inc. bought a new stake in shares of Travelers Companies during the 2nd quarter valued at about $891,000. Institutional investors own 82.45% of the company's stock.

Travelers Companies Stock Up 1.9%

NYSE TRV opened at $370.65 on Tuesday. The stock's 50-day moving average price is $353.55 and its 200-day moving average price is $318.93. 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 $252.26 and a 52 week high of $398.70. The company has a market capitalization of $77.31 billion, a P/E ratio of 9.93, a price-to-earnings-growth ratio of 3.46 and a beta of 0.45.

Travelers Companies (NYSE:TRV - Get Free Report) last announced its quarterly earnings data on Friday, July 17th. The insurance provider reported $10.04 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $5.41 by $4.63. The company had revenue of $12.15 billion during the quarter, compared to the consensus estimate of $11.26 billion. Travelers Companies had a return on equity of 25.41% and a net margin of 16.95%.The firm's revenue was up .3% on a year-over-year basis. During the same period in the previous year, the company posted $6.51 EPS. On average, equities research analysts predict that The Travelers Companies, Inc. will post 33.82 earnings per share for the current year.

Travelers Companies Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Thursday, September 10th will be paid a $1.25 dividend. The ex-dividend date of this dividend is Thursday, September 10th. This represents a $5.00 dividend on an annualized basis and a dividend yield of 1.3%. Travelers Companies's dividend payout ratio is 13.39%.

Insider Transactions at Travelers Companies

In other news, EVP David Donnay Rowland sold 5,000 shares of the firm's stock in a transaction on Wednesday, July 22nd. The shares were sold at an average price of $371.69, for a total transaction of $1,858,450.00. Following the sale, the executive vice president directly owned 10,479 shares in the company, valued at $3,894,939.51. This trade represents a 32.30% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Michael Frederick Klein sold 6,000 shares of Travelers Companies stock in a transaction on Tuesday, July 21st. The shares were sold at an average price of $366.09, for a total transaction of $2,196,540.00. Following the transaction, the executive vice president owned 45,125 shares in the company, valued at approximately $16,519,811.25. This trade represents a 11.74% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 52,667 shares of company stock valued at $19,611,829. Company insiders own 1.39% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have recently commented on TRV. BMO Capital Markets lowered shares of Travelers Companies from an "outperform" rating to a "market perform" rating and upped their price target for the company from $314.00 to $379.00 in a research report on Tuesday, July 21st. Bank of America boosted their target price on shares of Travelers Companies from $283.00 to $307.00 and gave the company an "underperform" rating in a research report on Monday, July 20th. Barclays upped their target price on shares of Travelers Companies from $295.00 to $318.00 and gave the company an "underweight" rating in a report on Tuesday, July 21st. JPMorgan Chase & Co. upgraded shares of Travelers Companies from an "underweight" rating to a "neutral" rating and increased their price target for the stock from $316.00 to $322.00 in a research report on Tuesday, May 26th. Finally, Roth Capital lifted their price target on shares of Travelers Companies from $345.00 to $425.00 and gave the stock a "buy" rating in a research note on Tuesday, July 21st. Four investment analysts have rated the stock with a Strong Buy rating, four have given a Buy rating, thirteen have given a Hold rating and five have given a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $354.26.

About Travelers Companies

The Travelers Companies, Inc NYSE: TRV is a leading provider of property and casualty insurance products and services. The company underwrites a broad range of commercial and personal insurance lines, offering coverage designed to protect individuals, small and midsize businesses, and large corporate clients against property loss, liability, and other operational risks. Travelers is known for combining underwriting, claims management and risk control services to help clients prevent losses and recover when incidents occur.

On the commercial side, Travelers writes primary and specialty coverages including property, general liability, commercial auto, workers' compensation, professional and management liability, surety and inland marine.

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