Magnetar Financial LLC Sells 4,408 Shares of The Travelers Companies, Inc. (NYSE:TRV)

Magnetar Financial LLC reduced its stake in shares of The Travelers Companies, Inc. (NYSE:TRV) by 33.3% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 8,823 shares of the insurance provider’s stock after selling 4,408 shares during the quarter. Magnetar Financial LLC’s holdings in Travelers Companies were worth $1,794,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of TRV. Vanguard Group Inc. increased its stake in Travelers Companies by 0.7% in the 4th quarter. Vanguard Group Inc. now owns 21,693,069 shares of the insurance provider’s stock worth $4,132,313,000 after purchasing an additional 148,012 shares during the period. JPMorgan Chase & Co. raised its holdings in Travelers Companies by 36.8% during the 1st quarter. JPMorgan Chase & Co. now owns 11,743,236 shares of the insurance provider’s stock valued at $2,702,588,000 after buying an additional 3,158,979 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in Travelers Companies by 5.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,044,839 shares of the insurance provider’s stock valued at $619,241,000 after buying an additional 165,708 shares during the last quarter. Boston Partners boosted its position in Travelers Companies by 16.4% during the 1st quarter. Boston Partners now owns 1,388,019 shares of the insurance provider’s stock valued at $319,348,000 after buying an additional 196,011 shares during the period. Finally, Hsbc Holdings PLC grew its holdings in Travelers Companies by 1.3% in the 2nd quarter. Hsbc Holdings PLC now owns 1,112,547 shares of the insurance provider’s stock worth $226,307,000 after acquiring an additional 14,764 shares during the last quarter. Hedge funds and other institutional investors own 82.45% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. Morgan Stanley dropped their target price on shares of Travelers Companies from $220.00 to $210.00 and set an “equal weight” rating for the company in a report on Friday, July 19th. Bank of America increased their price objective on Travelers Companies from $202.00 to $223.00 and gave the stock an “underperform” rating in a report on Monday, July 22nd. Citigroup lifted their price objective on Travelers Companies from $200.00 to $203.00 and gave the stock a “sell” rating in a research report on Tuesday, July 30th. Barclays started coverage on Travelers Companies in a report on Wednesday, September 4th. They set an “overweight” rating and a $286.00 target price for the company. Finally, William Blair reiterated a “market perform” rating on shares of Travelers Companies in a report on Friday, June 28th. Four analysts have rated the stock with a sell rating, thirteen have given a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Travelers Companies has a consensus rating of “Hold” and a consensus price target of $227.05.

Travelers Companies Price Performance

Shares of NYSE:TRV opened at $239.35 on Tuesday. The business has a fifty day moving average price of $221.94 and a 200-day moving average price of $217.67. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.33 and a quick ratio of 0.33. The company has a market capitalization of $54.81 billion, a PE ratio of 17.78, a PEG ratio of 1.26 and a beta of 0.62. The Travelers Companies, Inc. has a 1-year low of $157.33 and a 1-year high of $243.48.

Travelers Companies (NYSE:TRV) last issued its earnings results on Friday, July 19th. The insurance provider reported $2.51 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.23 by ($0.72). Travelers Companies had a return on equity of 15.90% and a net margin of 8.37%. The firm had revenue of $11.28 billion during the quarter, compared to analysts’ expectations of $11.35 billion. During the same period last year, the firm posted $0.06 earnings per share. The firm’s quarterly revenue was up 11.7% on a year-over-year basis. As a group, equities analysts expect that The Travelers Companies, Inc. will post 17.19 EPS for the current fiscal year.

Travelers Companies Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Tuesday, September 10th will be paid a dividend of $1.05 per share. The ex-dividend date of this dividend is Tuesday, September 10th. This represents a $4.20 annualized dividend and a yield of 1.75%. Travelers Companies’s dividend payout ratio is 31.20%.

Insider Buying and Selling at Travelers Companies

In other news, EVP Michael Frederick Klein sold 10,000 shares of the company’s stock in a transaction on Thursday, July 25th. The stock was sold at an average price of $211.44, for a total transaction of $2,114,400.00. Following the transaction, the executive vice president now directly owns 22,798 shares of the company’s stock, valued at $4,820,409.12. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 1.33% of the company’s stock.

Travelers Companies Company 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.