First Manhattan Co. Grows Holdings in The Travelers Companies, Inc. (NYSE:TRV)

First Manhattan Co. raised its position in The Travelers Companies, Inc. (NYSE:TRV – Get Rating) by 24.9% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 71,463 shares of the insurance provider’s stock after purchasing an additional 14,246 shares during the period. First Manhattan Co.’s holdings in Travelers Companies were worth $13,057,000 at the end of the most recent reporting period.

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

Wall Street Analyst Weigh In

A number of research firms have recently commented on TRV. UBS Group dropped their price objective on shares of Travelers Companies from $184.00 to $169.00 and set a “neutral” rating for the company in a research note on Monday, July 25th. The Goldman Sachs Group downgraded shares of Travelers Companies from a “neutral” rating to a “sell” rating and dropped their price objective for the company from $190.00 to $170.00 in a research note on Friday, June 3rd. Raymond James raised shares of Travelers Companies from a “market perform” rating to a “strong-buy” rating and set a $185.00 price objective for the company in a research note on Monday, July 25th. Jefferies Financial Group dropped their price objective on shares of Travelers Companies from $172.00 to $156.00 and set a “hold” rating for the company in a research note on Tuesday, July 12th. Finally, Royal Bank of Canada dropped their price objective on shares of Travelers Companies from $183.00 to $165.00 in a research note on Friday, July 22nd. Two investment analysts have rated the stock with a sell rating, eleven have given a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Travelers Companies presently has a consensus rating of “Hold” and a consensus price target of $174.60.

Travelers Companies Stock Up 0.7 %

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Shares of NYSE:TRV opened at $165.33 on Tuesday. The company has a quick ratio of 0.34, a current ratio of 0.34 and a debt-to-equity ratio of 0.32. The Travelers Companies, Inc. has a 52-week low of $145.40 and a 52-week high of $187.98. The company has a 50 day moving average of $163.86 and a two-hundred day moving average of $171.05. The company has a market capitalization of $39.23 billion, a price-to-earnings ratio of 11.47, a price-to-earnings-growth ratio of 3.00 and a beta of 0.61.

Travelers Companies (NYSE:TRV – Get Rating) last issued its quarterly earnings data on Thursday, July 21st. The insurance provider reported $2.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.00 by $0.57. Travelers Companies had a net margin of 9.97% and a return on equity of 13.64%. The company had revenue of $9.14 billion during the quarter, compared to the consensus estimate of $8.29 billion. During the same quarter last year, the company earned $3.45 earnings per share. Travelers Companies’s revenue for the quarter was up 5.2% on a year-over-year basis. As a group, analysts forecast that The Travelers Companies, Inc. will post 13.61 earnings per share for the current fiscal year.

Travelers Companies Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 30th. Stockholders of record on Friday, September 9th will be paid a dividend of $0.93 per share. This represents a $3.72 annualized dividend and a dividend yield of 2.25%. The ex-dividend date is Thursday, September 8th. Travelers Companies’s dividend payout ratio (DPR) is currently 25.82%.

Insider Activity

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

Travelers Companies Company Profile

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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.