Manhattan West Asset Management LLC Takes $1.78 Million Position in The Travelers Companies, Inc. $TRV

Manhattan West Asset Management LLC acquired a new stake in shares of The Travelers Companies, Inc. (NYSE:TRV) during the 2nd quarter, Holdings Channel reports. The fund acquired 8,078 shares of the insurance provider’s stock, valued at approximately $1,781,000.

Other hedge funds also recently made changes to their positions in the company. HHM Wealth Advisors LLC lifted its position in Travelers Companies by 145.7% during the first quarter. HHM Wealth Advisors LLC now owns 86 shares of the insurance provider’s stock valued at $25,000 after buying an additional 51 shares in the last quarter. Whipplewood Advisors LLC acquired a new position in shares of Travelers Companies in the 1st quarter worth approximately $26,000. LifeSteps Financial Inc. bought a new stake in shares of Travelers Companies during the 2nd quarter valued at about $26,000. Kilter Group LLC acquired a new stake in Travelers Companies in the second quarter worth $26,000. Finally, Kemnay Advisory Services Inc. bought a new stake in shares of Travelers Companies during the fourth quarter valued at approximately $26,000. Institutional investors and hedge funds own 82.45% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have issued reports on TRV shares. Piper Sandler increased their price target on Travelers Companies to $340.00 and gave the company an “overweight” rating in a research note on Monday, July 13th. Weiss Ratings upgraded Travelers Companies from a “buy (a-)” rating to a “buy (a)” rating in a report on Thursday. Roth Capital boosted their price target on Travelers Companies from $345.00 to $425.00 and gave the stock a “buy” rating in a research report on Tuesday, July 21st. Cantor Fitzgerald increased their target price on Travelers Companies from $335.00 to $360.00 and gave the company an “overweight” rating in a research note on Thursday, July 9th. Finally, The Goldman Sachs Group lowered shares of Travelers Companies from a “neutral” rating to a “sell” rating and set a $350.00 price objective for the company. in a research report on Monday, July 20th. Four research 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 issued a Sell rating to the company. Based on data from MarketBeat.com, Travelers Companies currently has an average rating of “Hold” and an average price target of $354.26.

Travelers Companies Price Performance

Shares of TRV stock opened at $363.83 on Friday. The stock has a 50-day moving average price of $352.28 and a 200 day moving average price of $318.12. The Travelers Companies, Inc. has a 12 month low of $252.26 and a 12 month high of $398.70. The firm has a market cap of $75.88 billion, a price-to-earnings ratio of 9.74, a PEG ratio of 3.46 and a beta of 0.45. The company has a quick ratio of 0.33, a current ratio of 0.33 and a debt-to-equity ratio of 0.27.

Travelers Companies (NYSE:TRV) last posted its earnings results on Friday, July 17th. The insurance provider reported $10.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.41 by $4.63. Travelers Companies had a return on equity of 25.41% and a net margin of 16.95%.The company had revenue of $12.15 billion during the quarter, compared to analyst estimates of $11.26 billion. During the same period in the previous year, the company earned $6.51 EPS. The company’s revenue for the quarter was up .3% compared to the same quarter last year. Research analysts expect that The Travelers Companies, Inc. will post 33.82 EPS for the current year.

Travelers Companies Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Thursday, September 10th will be issued a $1.25 dividend. The ex-dividend date is Thursday, September 10th. This represents a $5.00 dividend on an annualized basis and a dividend yield of 1.4%. Travelers Companies’s dividend payout ratio (DPR) is 13.39%.

Insider Activity

In other Travelers Companies news, EVP Mojgan M. Lefebvre sold 16,313 shares of the stock in a transaction dated Tuesday, July 21st. The shares were sold at an average price of $368.38, for a total value of $6,009,382.94. Following the transaction, the executive vice president directly owned 9,213 shares of the company’s stock, valued at $3,393,884.94. This represents a 63.91% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Michael Frederick Klein sold 10,000 shares of the company’s stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $307.65, for a total transaction of $3,076,500.00. Following the completion of the transaction, the executive vice president owned 45,125 shares in the company, valued at $13,882,706.25. This trade represents a 18.14% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 62,667 shares of company stock valued at $22,688,329. Corporate insiders own 1.39% of the company’s stock.

Travelers Companies Profile

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.