Magnetar Financial LLC Raises Holdings in The Travelers Companies, Inc. $TRV

Magnetar Financial LLC boosted its stake in The Travelers Companies, Inc. (NYSE:TRV) by 306.4% during the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 5,251 shares of the insurance provider’s stock after buying an additional 3,959 shares during the quarter. Magnetar Financial LLC’s holdings in Travelers Companies were worth $1,466,000 as of its most recent filing with the SEC.

A number of other large investors have also recently bought and sold shares of TRV. Barnes Dennig Private Wealth Management LLC increased its position in Travelers Companies by 134.1% during the third quarter. Barnes Dennig Private Wealth Management LLC now owns 96 shares of the insurance provider’s stock worth $27,000 after buying an additional 55 shares in the last quarter. Osterweis Capital Management Inc. lifted its position in shares of Travelers Companies by 1,820.0% in the second quarter. Osterweis Capital Management Inc. now owns 96 shares of the insurance provider’s stock valued at $26,000 after acquiring an additional 91 shares in the last quarter. Delos Wealth Advisors LLC acquired a new stake in shares of Travelers Companies during the second quarter valued at $27,000. Clayton Financial Group LLC purchased a new stake in Travelers Companies during the 3rd quarter worth about $28,000. Finally, Twin Peaks Wealth Advisors LLC purchased a new stake in Travelers Companies during the 2nd quarter worth about $30,000. Institutional investors and hedge funds own 82.45% of the company’s stock.

Analyst Ratings Changes

A number of research firms have issued reports on TRV. UBS Group restated a “neutral” rating on shares of Travelers Companies in a report on Monday, February 2nd. Weiss Ratings raised shares of Travelers Companies from a “buy (b+)” rating to a “buy (a-)” rating in a research report on Monday, February 9th. Brean Capital began coverage on shares of Travelers Companies in a research note on Thursday. They set a “neutral” rating on the stock. Mizuho decreased their target price on shares of Travelers Companies from $315.00 to $304.00 and set a “neutral” rating on the stock in a research report on Thursday, January 22nd. Finally, Zacks Research downgraded Travelers Companies from a “strong-buy” rating to a “hold” rating in a report on Monday, December 22nd. Two analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating, eleven have given a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $304.33.

Travelers Companies Trading Up 0.9%

Shares of TRV stock opened at $302.19 on Friday. The firm has a market cap of $65.35 billion, a P/E ratio of 10.98, a PEG ratio of 2.79 and a beta of 0.49. The Travelers Companies, Inc. has a 1-year low of $230.43 and a 1-year high of $313.12. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.33 and a quick ratio of 0.33. The firm’s 50-day simple moving average is $291.68 and its 200-day simple moving average is $284.05.

Travelers Companies (NYSE:TRV) last released its earnings results on Wednesday, January 21st. The insurance provider reported $11.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $8.34 by $2.79. Travelers Companies had a net margin of 12.88% and a return on equity of 20.70%. The firm had revenue of $12.43 billion during the quarter, compared to the consensus estimate of $11.13 billion. During the same period in the previous year, the firm earned $9.15 earnings per share. Travelers Companies’s revenue was up 3.5% compared to the same quarter last year. As a group, equities analysts forecast that The Travelers Companies, Inc. will post 17.02 EPS for the current year.

Travelers Companies Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Tuesday, March 10th will be paid a dividend of $1.10 per share. The ex-dividend date of this dividend is Tuesday, March 10th. This represents a $4.40 annualized dividend and a dividend yield of 1.5%. Travelers Companies’s payout ratio is currently 15.98%.

Travelers Companies declared that its board has approved a stock buyback plan on Wednesday, January 21st that allows the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization allows the insurance provider to buy up to 8.3% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board believes its stock is undervalued.

Insider Activity at Travelers Companies

In other news, EVP Michael Frederick Klein sold 10,000 shares of the company’s stock in a transaction on Friday, February 6th. The stock was sold at an average price of $301.18, for a total transaction of $3,011,800.00. Following the completion of the sale, the executive vice president directly owned 33,638 shares in the company, valued at $10,131,092.84. This represents a 22.92% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO Alan D. Schnitzer sold 55,733 shares of the stock in a transaction on Wednesday, February 4th. The stock was sold at an average price of $294.70, for a total value of $16,424,515.10. Following the completion of the transaction, the chief executive officer directly owned 260,329 shares in the company, valued at $76,718,956.30. This trade represents a 17.63% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 92,845 shares of company stock valued at $27,239,631 over the last quarter. 1.46% of the stock is currently owned by corporate insiders.

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.