State of Michigan Retirement System Purchases 5,462 Shares of Travelers Companies Inc (NYSE:TRV)

State of Michigan Retirement System raised its position in Travelers Companies Inc (NYSE:TRV) by 9.2% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 64,545 shares of the insurance provider’s stock after buying an additional 5,462 shares during the quarter. State of Michigan Retirement System’s holdings in Travelers Companies were worth $7,361,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Guggenheim Capital LLC increased its stake in shares of Travelers Companies by 15.6% in the fourth quarter. Guggenheim Capital LLC now owns 118,333 shares of the insurance provider’s stock worth $16,206,000 after purchasing an additional 15,939 shares in the last quarter. Sunbelt Securities Inc. purchased a new position in Travelers Companies in the 4th quarter valued at approximately $226,000. Verus Capital Partners LLC bought a new stake in Travelers Companies during the 4th quarter valued at $31,000. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in shares of Travelers Companies during the fourth quarter worth $722,000. Finally, Macquarie Group Ltd. raised its stake in shares of Travelers Companies by 7.4% during the 4th quarter. Macquarie Group Ltd. now owns 240,714 shares of the insurance provider’s stock valued at $32,965,000 after purchasing an additional 16,529 shares during the period. 80.72% of the stock is currently owned by hedge funds and other institutional investors.

Shares of NYSE:TRV opened at $114.42 on Friday. The stock’s 50-day moving average is $115.26 and its 200 day moving average is $114.42. The company has a market cap of $28.93 billion, a PE ratio of 16.30, a P/E/G ratio of 2.01 and a beta of 0.89. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.40 and a quick ratio of 0.40. Travelers Companies Inc has a 1 year low of $76.99 and a 1 year high of $153.65.

Travelers Companies (NYSE:TRV) last issued its quarterly earnings data on Thursday, July 23rd. The insurance provider reported ($0.20) earnings per share for the quarter, hitting the Zacks’ consensus estimate of ($0.20). The firm had revenue of $7.40 billion for the quarter, compared to analyst estimates of $7.75 billion. Travelers Companies had a return on equity of 7.20% and a net margin of 5.81%. During the same period last year, the company earned $2.02 EPS. Analysts expect that Travelers Companies Inc will post 8.53 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Thursday, September 10th will be issued a $0.85 dividend. This represents a $3.40 annualized dividend and a yield of 2.97%. The ex-dividend date of this dividend is Wednesday, September 9th. Travelers Companies’s dividend payout ratio (DPR) is currently 35.42%.

A number of research firms have weighed in on TRV. MKM Partners lifted their target price on Travelers Companies from $130.00 to $140.00 and gave the company a “buy” rating in a report on Friday, July 24th. Royal Bank of Canada reiterated a “hold” rating and set a $115.00 target price on shares of Travelers Companies in a research report on Wednesday, April 22nd. TheStreet lowered shares of Travelers Companies from a “b-” rating to a “c+” rating in a report on Thursday, July 23rd. Deutsche Bank lifted their price objective on shares of Travelers Companies from $120.00 to $126.00 and gave the stock a “hold” rating in a report on Monday, July 27th. Finally, Citigroup dropped their target price on Travelers Companies from $142.00 to $110.00 and set a “neutral” rating for the company in a research report on Tuesday, April 21st. Four equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and five have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $127.76.

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.

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Institutional Ownership by Quarter for Travelers Companies (NYSE:TRV)

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