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

Manhattan West Asset Management LLC bought a new position in The Travelers Companies, Inc. (NYSE:TRV) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 8,078 shares of the insurance provider’s stock, valued at approximately $1,781,000.

Several other large investors also recently modified their holdings of the company. Brighton Jones LLC lifted its stake in shares of Travelers Companies by 13.4% in the 4th quarter. Brighton Jones LLC now owns 3,277 shares of the insurance provider’s stock worth $789,000 after purchasing an additional 387 shares during the period. Revolve Wealth Partners LLC purchased a new position in shares of Travelers Companies in the fourth quarter valued at about $276,000. WINTON GROUP Ltd bought a new stake in shares of Travelers Companies during the second quarter valued at approximately $382,000. CIBC Asset Management Inc lifted its stake in Travelers Companies by 13.9% in the 2nd quarter. CIBC Asset Management Inc now owns 68,537 shares of the insurance provider’s stock worth $18,336,000 after purchasing an additional 8,383 shares in the last quarter. Finally, Treasurer of the State of North Carolina grew its holdings in Travelers Companies by 2.0% during the 2nd quarter. Treasurer of the State of North Carolina now owns 105,605 shares of the insurance provider’s stock valued at $28,254,000 after buying an additional 2,117 shares in the last quarter. Institutional investors own 82.45% of the company’s stock.

Insider Activity

In related news, EVP Mojgan M. Lefebvre sold 16,313 shares of the company’s stock in a transaction that occurred on Tuesday, July 21st. The shares were sold at an average price of $368.38, for a total transaction of $6,009,382.94. Following the sale, the executive vice president directly owned 9,213 shares in the company, valued at approximately $3,393,884.94. This represents a 63.91% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP David Donnay Rowland sold 5,000 shares of the firm’s stock in a transaction on Wednesday, July 22nd. The shares were sold at an average price of $371.69, for a total value of $1,858,450.00. Following the completion of the sale, the executive vice president owned 10,479 shares in the company, valued at approximately $3,894,939.51. This represents a 32.30% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 62,667 shares of company stock worth $22,688,329 over the last three months. Company insiders own 1.39% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have weighed in on TRV. Raymond James Financial set a $430.00 price objective on Travelers Companies in a research note on Monday, July 20th. Seaport Research Partners set a $322.00 price target on Travelers Companies in a report on Tuesday, May 26th. Keefe, Bruyette & Woods reiterated a “market perform” rating and set a $356.00 target price (up from $342.00) on shares of Travelers Companies in a report on Wednesday, July 8th. Evercore set a $329.00 price target on Travelers Companies and gave the stock an “in-line” rating in a research report on Friday, July 10th. Finally, Morgan Stanley lifted their price target on shares of Travelers Companies from $290.00 to $330.00 and gave the stock an “underweight” rating in a report on Tuesday, July 21st. Four analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating, thirteen have assigned a Hold rating and five have issued a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $354.26.

Travelers Companies Stock Down 0.2%

NYSE TRV opened at $363.83 on Friday. The Travelers Companies, Inc. has a one year low of $252.26 and a one year high of $398.70. The company has a market cap of $75.88 billion, a P/E ratio of 9.74, a P/E/G ratio of 3.46 and a beta of 0.45. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.33 and a current ratio of 0.33. The business has a fifty day moving average price of $352.28 and a 200 day moving average price of $318.12.

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

Travelers Companies Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Thursday, September 10th will be paid a dividend of $1.25 per share. This represents a $5.00 annualized dividend and a yield of 1.4%. The ex-dividend date of this dividend is Thursday, September 10th. Travelers Companies’s dividend payout ratio is presently 13.39%.

Travelers Companies Company 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.