First Manhattan Co. lessened its stake in Travelers Companies Inc (NYSE:TRV) by 5.4% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 89,460 shares of the insurance provider’s stock after selling 5,144 shares during the period. First Manhattan Co.’s holdings in Travelers Companies were worth $11,603,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the business. Sumitomo Mitsui Asset Management Company LTD grew its position in shares of Travelers Companies by 4.9% during the 3rd quarter. Sumitomo Mitsui Asset Management Company LTD now owns 47,168 shares of the insurance provider’s stock valued at $6,118,000 after acquiring an additional 2,188 shares during the period. Bank of Montreal Can grew its position in shares of Travelers Companies by 106.7% during the 3rd quarter. Bank of Montreal Can now owns 1,024,894 shares of the insurance provider’s stock valued at $132,939,000 after acquiring an additional 529,067 shares during the period. Pittenger & Anderson Inc. grew its position in shares of Travelers Companies by 6.2% during the 3rd quarter. Pittenger & Anderson Inc. now owns 55,084 shares of the insurance provider’s stock valued at $7,145,000 after acquiring an additional 3,210 shares during the period. Elmwood Wealth Management Inc. grew its position in shares of Travelers Companies by 6.3% during the 3rd quarter. Elmwood Wealth Management Inc. now owns 7,096 shares of the insurance provider’s stock valued at $920,000 after acquiring an additional 420 shares during the period. Finally, Heritage Way Advisors LLC grew its position in shares of Travelers Companies by 3.0% during the 3rd quarter. Heritage Way Advisors LLC now owns 18,660 shares of the insurance provider’s stock valued at $2,420,000 after acquiring an additional 550 shares during the period. 79.02% of the stock is owned by institutional investors and hedge funds.

TRV opened at $126.44 on Thursday. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.38 and a current ratio of 0.38. Travelers Companies Inc has a fifty-two week low of $120.74 and a fifty-two week high of $150.55. The firm has a market cap of $34.72 billion, a P/E ratio of 17.37, a PEG ratio of 1.03 and a beta of 1.25.

Travelers Companies (NYSE:TRV) last released its earnings results on Thursday, July 19th. The insurance provider reported $1.81 earnings per share for the quarter, missing analysts’ consensus estimates of $2.43 by ($0.62). The firm had revenue of $7.44 billion for the quarter, compared to analysts’ expectations of $7.35 billion. Travelers Companies had a net margin of 6.89% and a return on equity of 8.84%. As a group, equities analysts expect that Travelers Companies Inc will post 9.95 earnings per share for the current year.

TRV has been the subject of a number of recent research reports. Zacks Investment Research raised shares of Travelers Companies from a “sell” rating to a “hold” rating in a research report on Friday, October 12th. Wells Fargo & Co reissued a “hold” rating and set a $142.00 price objective on shares of Travelers Companies in a research report on Thursday, July 19th. ValuEngine raised shares of Travelers Companies from a “sell” rating to a “hold” rating in a research report on Thursday, July 19th. Credit Suisse Group initiated coverage on shares of Travelers Companies in a research report on Tuesday, August 7th. They set a “neutral” rating and a $141.00 price objective for the company. Finally, Citigroup set a $144.00 price objective on shares of Travelers Companies and gave the company a “buy” rating in a research report on Thursday, July 12th. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating and five have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $137.93.

In other Travelers Companies news, EVP Andy F. Bessette sold 8,892 shares of the business’s stock in a transaction on Friday, August 17th. The shares were sold at an average price of $130.78, for a total value of $1,162,895.76. Following the sale, the executive vice president now owns 10,551 shares in the company, valued at approximately $1,379,859.78. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Vice Chairman Jay S. Benet sold 8,876 shares of the business’s stock in a transaction on Tuesday, August 21st. The stock was sold at an average price of $132.00, for a total transaction of $1,171,632.00. Following the completion of the sale, the insider now owns 94,176 shares in the company, valued at approximately $12,431,232. The disclosure for this sale can be found here. 0.80% of the stock is owned by insiders.

Travelers Companies 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.

Further Reading: Cash Flow Analysis in Stock Selection

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

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