MAI Capital Management Acquires 15,230 Shares of The Travelers Companies, Inc. $TRV

MAI Capital Management lifted its holdings in The Travelers Companies, Inc. (NYSE:TRV) by 106.4% in the 3rd quarter, Holdings Channel.com reports. The firm owned 29,543 shares of the insurance provider’s stock after buying an additional 15,230 shares during the quarter. MAI Capital Management’s holdings in Travelers Companies were worth $8,249,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the stock. Cary Street Partners Financial LLC lifted its stake in Travelers Companies by 3.3% in the third quarter. Cary Street Partners Financial LLC now owns 7,971 shares of the insurance provider’s stock valued at $2,226,000 after buying an additional 251 shares in the last quarter. Colonial Trust Advisors increased its position in shares of Travelers Companies by 41.6% in the third quarter. Colonial Trust Advisors now owns 160 shares of the insurance provider’s stock valued at $45,000 after acquiring an additional 47 shares during the last quarter. Waddell & Associates LLC raised its holdings in Travelers Companies by 45.9% during the third quarter. Waddell & Associates LLC now owns 1,567 shares of the insurance provider’s stock worth $438,000 after acquiring an additional 493 shares in the last quarter. Mufg Securities Americas Inc. boosted its position in Travelers Companies by 20.9% during the third quarter. Mufg Securities Americas Inc. now owns 6,072 shares of the insurance provider’s stock valued at $1,695,000 after purchasing an additional 1,051 shares during the last quarter. Finally, Compound Planning Inc. grew its stake in Travelers Companies by 18.5% in the third quarter. Compound Planning Inc. now owns 4,024 shares of the insurance provider’s stock valued at $1,123,000 after purchasing an additional 628 shares in the last quarter. 82.45% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts recently weighed in on TRV shares. Keefe, Bruyette & Woods boosted their target price on shares of Travelers Companies from $320.00 to $340.00 and gave the stock an “outperform” rating in a report on Thursday, February 19th. Evercore boosted their price objective on shares of Travelers Companies from $309.00 to $317.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 7th. Argus upgraded shares of Travelers Companies to a “strong-buy” rating in a research note on Monday, January 26th. Zacks Research cut Travelers Companies from a “strong-buy” rating to a “hold” rating in a report on Monday, December 22nd. Finally, The Goldman Sachs Group lowered Travelers Companies from a “buy” rating to a “neutral” rating and set a $304.00 price objective on the stock. in a research note on Wednesday, January 7th. Two investment analysts have rated the stock with a Strong Buy rating, five have given a Buy rating, ten have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $304.33.

Travelers Companies Trading Up 0.5%

Shares of TRV stock opened at $306.21 on Friday. The Travelers Companies, Inc. has a 12-month low of $230.43 and a 12-month high of $309.37. The company has a market capitalization of $66.21 billion, a PE ratio of 11.12, a price-to-earnings-growth ratio of 2.84 and a beta of 0.51. The firm has a 50 day moving average price of $288.87 and a two-hundred day moving average price of $281.48. The company has a quick ratio of 0.33, a current ratio of 0.33 and a debt-to-equity ratio of 0.28.

Travelers Companies (NYSE:TRV) last posted its earnings results on Wednesday, January 21st. The insurance provider reported $11.13 EPS for the quarter, beating the consensus estimate of $8.34 by $2.79. The company had revenue of $12.43 billion for the quarter, compared to the consensus estimate of $11.13 billion. Travelers Companies had a return on equity of 20.70% and a net margin of 12.88%.The firm’s revenue for the quarter was up 3.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $9.15 earnings per share. As a group, analysts predict that The Travelers Companies, Inc. will post 17.02 earnings per share for the current year.

Travelers Companies Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Tuesday, March 10th will be issued a dividend of $1.10 per share. The ex-dividend date of this dividend is Tuesday, March 10th. This represents a $4.40 dividend on an annualized basis and a dividend yield of 1.4%. Travelers Companies’s dividend payout ratio (DPR) is currently 15.98%.

Travelers Companies declared that its Board of Directors has authorized a stock buyback plan on Wednesday, January 21st that authorizes the company to repurchase $5.00 billion in shares. This repurchase authorization authorizes the insurance provider to repurchase up to 8.3% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s board of directors believes its shares are undervalued.

Insider Buying and Selling at Travelers Companies

In related news, CEO Alan D. Schnitzer sold 55,733 shares of the company’s stock in a transaction dated Wednesday, February 4th. The shares were sold at an average price of $294.70, for a total value of $16,424,515.10. Following the transaction, the chief executive officer directly owned 260,329 shares in the company, valued at approximately $76,718,956.30. This represents a 17.63% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Michael Frederick Klein sold 10,000 shares of the firm’s stock in a transaction dated Friday, February 6th. The stock was sold at an average price of $301.18, for a total transaction of $3,011,800.00. Following the transaction, the executive vice president directly owned 33,638 shares in the company, valued at approximately $10,131,092.84. This represents a 22.92% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 92,845 shares of company stock worth $27,239,631. Insiders own 1.46% of the company’s stock.

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.