The Travelers Companies, Inc. (NYSE:TRV) Shares Sold by State of Michigan Retirement System

State of Michigan Retirement System cut its holdings in shares of The Travelers Companies, Inc. (NYSE:TRV) by 0.6% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 61,653 shares of the insurance provider’s stock after selling 400 shares during the period. State of Michigan Retirement System’s holdings in Travelers Companies were worth $14,852,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of TRV. Elevate Capital Advisors LLC acquired a new stake in Travelers Companies in the fourth quarter valued at approximately $4,627,000. Franklin Resources Inc. grew its stake in Travelers Companies by 39.5% in the 3rd quarter. Franklin Resources Inc. now owns 135,957 shares of the insurance provider’s stock valued at $32,646,000 after acquiring an additional 38,515 shares during the period. Orion Portfolio Solutions LLC increased its holdings in Travelers Companies by 34.6% in the 3rd quarter. Orion Portfolio Solutions LLC now owns 18,144 shares of the insurance provider’s stock worth $4,248,000 after acquiring an additional 4,665 shares in the last quarter. Czech National Bank raised its position in Travelers Companies by 6.0% during the fourth quarter. Czech National Bank now owns 49,223 shares of the insurance provider’s stock worth $11,857,000 after acquiring an additional 2,792 shares during the period. Finally, Catalyst Capital Advisors LLC purchased a new position in Travelers Companies during the third quarter valued at $50,000. Hedge funds and other institutional investors own 82.45% of the company’s stock.

Analysts Set New Price Targets

TRV has been the subject of a number of research reports. StockNews.com cut shares of Travelers Companies from a “buy” rating to a “hold” rating in a research note on Thursday, January 23rd. Piper Sandler upgraded Travelers Companies from a “neutral” rating to an “overweight” rating and boosted their price objective for the stock from $259.00 to $310.00 in a research note on Friday, January 24th. BMO Capital Markets increased their target price on Travelers Companies from $275.00 to $297.00 and gave the company an “outperform” rating in a report on Friday, January 24th. HSBC raised Travelers Companies from a “hold” rating to a “buy” rating and set a $290.00 price target on the stock in a research note on Tuesday, December 10th. Finally, Wells Fargo & Company increased their price objective on Travelers Companies from $213.00 to $225.00 and gave the company an “underweight” rating in a research note on Thursday, January 23rd. Four equities research analysts have rated the stock with a sell rating, eleven have given a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $261.05.

Travelers Companies Stock Down 1.9 %

Shares of NYSE TRV opened at $255.85 on Wednesday. The company has a market capitalization of $58.01 billion, a P/E ratio of 11.92, a P/E/G ratio of 4.65 and a beta of 0.60. The company has a debt-to-equity ratio of 0.29, a current ratio of 0.33 and a quick ratio of 0.33. The company has a 50 day simple moving average of $243.86 and a 200-day simple moving average of $243.99. The Travelers Companies, Inc. has a 1 year low of $200.21 and a 1 year high of $269.55.

Travelers Companies (NYSE:TRV) last posted its earnings results on Wednesday, January 22nd. The insurance provider reported $9.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.50 by $2.65. Travelers Companies had a return on equity of 19.06% and a net margin of 10.77%. The company had revenue of $12.01 billion during the quarter, compared to analysts’ expectations of $10.80 billion. During the same quarter last year, the firm earned $7.01 earnings per share. The firm’s quarterly revenue was up 9.9% compared to the same quarter last year. On average, equities research analysts predict that The Travelers Companies, Inc. will post 17.02 earnings per share for the current year.

Travelers Companies Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 10th will be given a $1.05 dividend. The ex-dividend date is Monday, March 10th. This represents a $4.20 dividend on an annualized basis and a yield of 1.64%. Travelers Companies’s payout ratio is currently 19.56%.

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.