The Travelers Companies, Inc. (NYSE:TRV) Stake Boosted by First Manhattan Co.

First Manhattan Co. raised its stake in The Travelers Companies, Inc. (NYSE:TRVGet Rating) by 24.9% during the first quarter, according to its most recent disclosure with the SEC. The fund owned 71,463 shares of the insurance provider’s stock after buying an additional 14,246 shares during the quarter. First Manhattan Co.’s holdings in Travelers Companies were worth $13,057,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the stock. First Republic Investment Management Inc. lifted its stake in Travelers Companies by 10.8% in the first quarter. First Republic Investment Management Inc. now owns 132,512 shares of the insurance provider’s stock valued at $24,214,000 after buying an additional 12,938 shares during the last quarter. Family Management Corp bought a new stake in Travelers Companies in the first quarter valued at $203,000. Geneos Wealth Management Inc. lifted its stake in Travelers Companies by 33.1% in the first quarter. Geneos Wealth Management Inc. now owns 4,225 shares of the insurance provider’s stock valued at $772,000 after buying an additional 1,051 shares during the last quarter. Harvest Volatility Management LLC lifted its stake in Travelers Companies by 85.5% in the first quarter. Harvest Volatility Management LLC now owns 5,885 shares of the insurance provider’s stock valued at $1,075,000 after buying an additional 2,712 shares during the last quarter. Finally, 1832 Asset Management L.P. lifted its stake in Travelers Companies by 179.1% in the first quarter. 1832 Asset Management L.P. now owns 14,606 shares of the insurance provider’s stock valued at $2,632,000 after buying an additional 9,372 shares during the last quarter. 82.39% of the stock is currently owned by institutional investors.

Travelers Companies Price Performance

NYSE TRV opened at $165.33 on Tuesday. The stock’s 50-day moving average price is $163.86 and its two-hundred day moving average price is $171.05. The company has a current ratio of 0.34, a quick ratio of 0.34 and a debt-to-equity ratio of 0.32. The company has a market cap of $39.23 billion, a PE ratio of 11.47, a PEG ratio of 3.00 and a beta of 0.61. The Travelers Companies, Inc. has a 1 year low of $145.40 and a 1 year high of $187.98.

Travelers Companies (NYSE:TRVGet Rating) last posted its quarterly earnings data on Thursday, July 21st. The insurance provider reported $2.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.00 by $0.57. The firm had revenue of $9.14 billion for the quarter, compared to the consensus estimate of $8.29 billion. Travelers Companies had a return on equity of 13.64% and a net margin of 9.97%. The business’s revenue for the quarter was up 5.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $3.45 EPS. On average, analysts predict that The Travelers Companies, Inc. will post 13.61 EPS for the current year.

Travelers Companies Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 30th. Shareholders of record on Friday, September 9th will be issued a dividend of $0.93 per share. The ex-dividend date is Thursday, September 8th. This represents a $3.72 annualized dividend and a yield of 2.25%. Travelers Companies’s payout ratio is presently 25.82%.

Insiders Place Their Bets

In other Travelers Companies news, EVP Mojgan M. Lefebvre sold 2,945 shares of Travelers Companies stock in a transaction dated Wednesday, August 24th. The stock was sold at an average price of $168.33, for a total transaction of $495,731.85. Following the transaction, the executive vice president now owns 1,020 shares of the company’s stock, valued at approximately $171,696.60. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 1.07% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have issued reports on TRV shares. StockNews.com cut Travelers Companies from a “buy” rating to a “hold” rating in a research note on Tuesday, July 26th. Royal Bank of Canada lowered their price target on Travelers Companies from $183.00 to $165.00 in a report on Friday, July 22nd. UBS Group lowered their price target on Travelers Companies from $184.00 to $169.00 and set a “neutral” rating on the stock in a report on Monday, July 25th. The Goldman Sachs Group lowered Travelers Companies from a “neutral” rating to a “sell” rating and lowered their price target for the company from $190.00 to $170.00 in a report on Friday, June 3rd. Finally, Citigroup assumed coverage on Travelers Companies in a report on Monday, May 23rd. They set a “neutral” rating and a $179.00 price target on the stock. Two research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $174.60.

About Travelers Companies

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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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Institutional Ownership by Quarter for Travelers Companies (NYSE:TRV)

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