Muhlenkamp & Co. Inc. Makes New Investment in The Travelers Companies, Inc. $TRV

Muhlenkamp & Co. Inc. acquired a new stake in shares of The Travelers Companies, Inc. (NYSE:TRV) in the second quarter, HoldingsChannel.com reports. The fund acquired 6,627 shares of the insurance provider’s stock, valued at approximately $2,188,000. Travelers Companies makes up approximately 0.6% of Muhlenkamp & Co. Inc.’s portfolio, making the stock its 23rd largest position.

Several other institutional investors and hedge funds have also recently modified their holdings of TRV. LifeSteps Financial Inc. purchased a new position in shares of Travelers Companies in the second quarter worth $26,000. Kilter Group LLC purchased a new position in Travelers Companies during the second quarter valued at $26,000. HHM Wealth Advisors LLC increased its holdings in Travelers Companies by 145.7% in the 1st quarter. HHM Wealth Advisors LLC now owns 86 shares of the insurance provider’s stock valued at $25,000 after acquiring an additional 51 shares during the last quarter. Kemnay Advisory Services Inc. bought a new stake in Travelers Companies in the 4th quarter valued at $26,000. Finally, Whipplewood Advisors LLC purchased a new stake in Travelers Companies in the 1st quarter worth $26,000. Institutional investors own 82.45% of the company’s stock.

Travelers Companies Stock Performance

Shares of NYSE:TRV opened at $369.85 on Friday. The Travelers Companies, Inc. has a 52 week low of $252.26 and a 52 week high of $398.70. The stock has a market capitalization of $77.14 billion, a P/E ratio of 9.90, a PEG ratio of 3.51 and a beta of 0.45. The firm has a fifty day simple moving average of $358.56 and a two-hundred day simple moving average of $320.77. The company has a quick ratio of 0.33, a current ratio of 0.33 and a debt-to-equity ratio of 0.27.

Travelers Companies (NYSE:TRV) last announced its earnings results on Friday, July 17th. The insurance provider reported $10.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.41 by $4.63. Travelers Companies had a net margin of 16.95% and a return on equity of 25.41%. The firm had revenue of $12.15 billion for the quarter, compared to analysts’ expectations of $11.26 billion. During the same period in the prior year, the company earned $6.51 EPS. The business’s revenue was up .3% compared to the same quarter last year. On average, analysts expect that The Travelers Companies, Inc. will post 33.82 earnings per share for the current fiscal year.

Travelers Companies Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders 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 payout ratio is presently 13.39%.

Insider Buying and Selling at Travelers Companies

In other Travelers Companies news, EVP Diane Kurtzman sold 4,164 shares of the company’s stock in a transaction that occurred on Friday, July 24th. The stock was sold at an average price of $386.71, for a total transaction of $1,610,260.44. Following the sale, the executive vice president directly owned 5,298 shares in the company, valued at $2,048,789.58. This represents a 44.01% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Daniel Tei-Hwa Yin sold 7,153 shares of the firm’s stock in a transaction that occurred on Friday, July 24th. The shares were sold at an average price of $387.00, for a total value of $2,768,211.00. Following the completion of the sale, the executive vice president directly owned 68,834 shares of the company’s stock, valued at $26,638,758. The trade was a 9.41% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 52,667 shares of company stock valued at $19,611,829. Corporate insiders own 1.39% of the company’s stock.

Analyst Ratings Changes

Several research analysts have commented on the stock. JPMorgan Chase & Co. raised shares of Travelers Companies from an “underweight” rating to a “neutral” rating and increased their price objective for the company from $316.00 to $322.00 in a report on Tuesday, May 26th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating on shares of Travelers Companies in a report on Tuesday, July 21st. Truist Financial increased their price target on Travelers Companies from $395.00 to $425.00 and gave the company a “buy” rating in a research note on Monday, July 20th. Piper Sandler raised their price target on Travelers Companies to $340.00 and gave the company an “overweight” rating in a report on Monday, July 13th. Finally, Seaport Research Partners set a $322.00 price objective on Travelers Companies in a research note on Tuesday, May 26th. Four investment analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating, thirteen have assigned a Hold rating and five have issued a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $354.26.

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.