The Manufacturers Life Insurance Company Has $33.96 Million Stock Position in The Travelers Companies, Inc. (NYSE:TRV)

The Manufacturers Life Insurance Company cut its holdings in The Travelers Companies, Inc. (NYSE:TRV) by 1.9% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 145,052 shares of the insurance provider’s stock after selling 2,787 shares during the quarter. The Manufacturers Life Insurance Company owned approximately 0.06% of Travelers Companies worth $33,960,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of TRV. Ledyard National Bank lifted its stake in shares of Travelers Companies by 1.9% in the 3rd quarter. Ledyard National Bank now owns 2,067 shares of the insurance provider’s stock valued at $484,000 after acquiring an additional 39 shares during the last quarter. Trueblood Wealth Management LLC raised its position in Travelers Companies by 2.3% in the third quarter. Trueblood Wealth Management LLC now owns 1,807 shares of the insurance provider’s stock valued at $423,000 after purchasing an additional 41 shares during the last quarter. Cornell Pochily Investment Advisors Inc. boosted its stake in shares of Travelers Companies by 2.9% during the third quarter. Cornell Pochily Investment Advisors Inc. now owns 1,499 shares of the insurance provider’s stock valued at $351,000 after purchasing an additional 42 shares in the last quarter. Willner & Heller LLC grew its holdings in shares of Travelers Companies by 4.1% during the third quarter. Willner & Heller LLC now owns 1,146 shares of the insurance provider’s stock worth $268,000 after purchasing an additional 45 shares during the last quarter. Finally, Wolff Wiese Magana LLC increased its stake in shares of Travelers Companies by 39.1% in the third quarter. Wolff Wiese Magana LLC now owns 160 shares of the insurance provider’s stock valued at $37,000 after buying an additional 45 shares during the period. Institutional investors own 82.45% of the company’s stock.

Insider Buying and Selling

In related news, Vice Chairman William H. Heyman sold 3,740 shares of the company’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $264.80, for a total transaction of $990,352.00. Following the completion of the sale, the insider now owns 250,384 shares in the company, valued at approximately $66,301,683.20. This represents a 1.47 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Alan D. Schnitzer sold 40,524 shares of the firm’s stock in a transaction on Monday, October 21st. The shares were sold at an average price of $260.12, for a total value of $10,541,102.88. Following the transaction, the chief executive officer now owns 221,924 shares in the company, valued at approximately $57,726,870.88. This trade represents a 15.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 78,149 shares of company stock worth $20,295,856 in the last quarter. Insiders own 1.33% of the company’s stock.

Travelers Companies Stock Down 0.2 %

TRV stock opened at $266.04 on Friday. The stock’s 50 day simple moving average is $249.31 and its 200 day simple moving average is $227.58. The company has a market cap of $60.40 billion, a P/E ratio of 13.64, a price-to-earnings-growth ratio of 1.26 and a beta of 0.62. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.34 and a current ratio of 0.34. The Travelers Companies, Inc. has a fifty-two week low of $177.61 and a fifty-two week high of $269.55.

Travelers Companies (NYSE:TRV) last issued its earnings results on Thursday, October 17th. The insurance provider reported $5.24 earnings per share for the quarter, topping analysts’ consensus estimates of $3.79 by $1.45. The company had revenue of $11.90 billion for the quarter, compared to analyst estimates of $11.46 billion. Travelers Companies had a return on equity of 17.69% and a net margin of 10.02%. Travelers Companies’s revenue for the quarter was up 11.9% on a year-over-year basis. During the same period in the prior year, the firm earned $1.95 earnings per share. On average, research analysts expect that The Travelers Companies, Inc. will post 18.83 earnings per share for the current fiscal year.

Travelers Companies Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Tuesday, December 10th will be issued a dividend of $1.05 per share. This represents a $4.20 dividend on an annualized basis and a dividend yield of 1.58%. The ex-dividend date of this dividend is Tuesday, December 10th. Travelers Companies’s dividend payout ratio is currently 21.54%.

Wall Street Analysts Forecast Growth

Several research firms recently commented on TRV. Jefferies Financial Group lifted their target price on shares of Travelers Companies from $210.00 to $235.00 and gave the stock a “hold” rating in a research report on Wednesday, October 9th. The Goldman Sachs Group boosted their price objective on shares of Travelers Companies from $216.00 to $245.00 and gave the stock a “sell” rating in a research note on Tuesday, October 22nd. Bank of America raised their target price on Travelers Companies from $241.00 to $265.00 and gave the stock an “underperform” rating in a research report on Thursday, October 17th. StockNews.com lowered Travelers Companies from a “buy” rating to a “hold” rating in a research report on Wednesday. Finally, Keefe, Bruyette & Woods increased their price target on Travelers Companies from $245.00 to $273.00 and gave the company a “market perform” rating in a research note on Tuesday, October 22nd. Four analysts have rated the stock with a sell rating, fifteen have issued a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $251.15.

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.