Magnetar Financial LLC Purchases New Position in The Travelers Companies, Inc. $TRV

Magnetar Financial LLC bought a new position in shares of The Travelers Companies, Inc. (NYSE:TRV) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 2,609 shares of the insurance provider’s stock, valued at approximately $690,000.

Other hedge funds have also added to or reduced their stakes in the company. Canada Pension Plan Investment Board boosted its stake in shares of Travelers Companies by 3.7% in the 1st quarter. Canada Pension Plan Investment Board now owns 365,389 shares of the insurance provider’s stock valued at $96,631,000 after purchasing an additional 12,920 shares during the last quarter. GKV Capital Management Co. Inc. bought a new position in shares of Travelers Companies in the 1st quarter worth $307,000. WPG Advisers LLC bought a new position in shares of Travelers Companies in the 1st quarter worth $54,000. State of Wyoming lifted its holdings in shares of Travelers Companies by 50.0% in the 1st quarter. State of Wyoming now owns 2,268 shares of the insurance provider’s stock worth $600,000 after purchasing an additional 756 shares in the last quarter. Finally, Monterey Private Wealth Inc. purchased a new stake in Travelers Companies in the 1st quarter valued at $204,000. 82.45% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Travelers Companies news, EVP Mojgan M. Lefebvre sold 16,820 shares of the firm’s stock in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $277.54, for a total transaction of $4,668,222.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Gregory C. Toczydlowski sold 11,505 shares of the stock in a transaction that occurred on Monday, July 21st. The shares were sold at an average price of $266.12, for a total transaction of $3,061,710.60. Following the sale, the executive vice president owned 18,416 shares in the company, valued at approximately $4,900,865.92. The trade was a 38.45% decrease in their position. The disclosure for this sale can be found here. 1.46% of the stock is currently owned by company insiders.

Travelers Companies Stock Performance

Shares of TRV opened at $271.62 on Monday. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.33 and a quick ratio of 0.33. The Travelers Companies, Inc. has a one year low of $222.21 and a one year high of $279.04. The company has a 50-day simple moving average of $263.85 and a two-hundred day simple moving average of $261.35. The firm has a market capitalization of $61.15 billion, a PE ratio of 12.01, a price-to-earnings-growth ratio of 3.12 and a beta of 0.53.

Travelers Companies (NYSE:TRV) last issued its quarterly earnings data on Thursday, July 17th. The insurance provider reported $6.51 EPS for the quarter, topping the consensus estimate of $3.52 by $2.99. Travelers Companies had a net margin of 10.97% and a return on equity of 18.68%. The business had revenue of $11.54 billion during the quarter, compared to analyst estimates of $11.02 billion. During the same period last year, the business posted $2.51 earnings per share. Travelers Companies’s quarterly revenue was up 7.4% compared to the same quarter last year. On average, analysts anticipate that The Travelers Companies, Inc. will post 17.02 EPS for the current fiscal year.

Travelers Companies Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Wednesday, September 10th will be paid a dividend of $1.10 per share. The ex-dividend date of this dividend is Wednesday, September 10th. This represents a $4.40 dividend on an annualized basis and a dividend yield of 1.6%. Travelers Companies’s dividend payout ratio (DPR) is currently 19.46%.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on TRV. Wells Fargo & Company upped their price objective on Travelers Companies from $264.00 to $275.00 and gave the company an “equal weight” rating in a research note on Friday, July 18th. Wall Street Zen cut Travelers Companies from a “buy” rating to a “hold” rating in a research report on Saturday, August 9th. Morgan Stanley set a $269.00 price objective on Travelers Companies and gave the company an “equal weight” rating in a research note on Monday, May 19th. Cantor Fitzgerald upgraded Travelers Companies to a “strong-buy” rating in a research note on Wednesday, August 13th. Finally, Barclays cut Travelers Companies from an “overweight” rating to an “equal weight” rating and reduced their target price for the stock from $280.00 to $274.00 in a research report on Monday, July 7th. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, ten have assigned a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $284.56.

About Travelers Companies

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.