State of Michigan Retirement System Sells 200 Shares of The Travelers Companies, Inc. (NYSE:TRV)

State of Michigan Retirement System cut its holdings in shares of The Travelers Companies, Inc. (NYSE:TRVFree Report) by 0.3% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 62,553 shares of the insurance provider’s stock after selling 200 shares during the quarter. State of Michigan Retirement System’s holdings in Travelers Companies were worth $11,916,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Drive Wealth Management LLC bought a new stake in Travelers Companies during the 4th quarter worth about $320,000. Builder Investment Group Inc. ADV bought a new stake in Travelers Companies during the 4th quarter worth about $229,000. Prio Wealth Limited Partnership lifted its position in Travelers Companies by 4.4% during the 4th quarter. Prio Wealth Limited Partnership now owns 2,971 shares of the insurance provider’s stock worth $566,000 after buying an additional 124 shares in the last quarter. Dechtman Wealth Management LLC bought a new stake in Travelers Companies during the 4th quarter worth about $314,000. Finally, Fifth Third Bancorp lifted its position in Travelers Companies by 38.2% during the 4th quarter. Fifth Third Bancorp now owns 18,482 shares of the insurance provider’s stock worth $3,521,000 after buying an additional 5,104 shares in the last quarter. 82.45% of the stock is owned by institutional investors.

Travelers Companies Stock Performance

Shares of Travelers Companies stock opened at $227.93 on Wednesday. The company has a 50 day moving average of $219.08 and a 200-day moving average of $191.58. The Travelers Companies, Inc. has a 1-year low of $157.33 and a 1-year high of $230.87. The company has a current ratio of 0.34, a quick ratio of 0.34 and a debt-to-equity ratio of 0.32. The company has a market cap of $52.23 billion, a PE ratio of 17.82, a price-to-earnings-growth ratio of 1.20 and a beta of 0.58.

Travelers Companies (NYSE:TRVGet Free Report) last issued its quarterly earnings results on Friday, January 19th. The insurance provider reported $7.01 earnings per share for the quarter, topping analysts’ consensus estimates of $5.10 by $1.91. The company had revenue of $10.93 billion during the quarter, compared to the consensus estimate of $10.18 billion. Travelers Companies had a net margin of 7.23% and a return on equity of 13.68%. The firm’s quarterly revenue was up 13.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $3.40 EPS. As a group, equities research analysts forecast that The Travelers Companies, Inc. will post 17.7 earnings per share for the current fiscal year.

Travelers Companies Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Friday, March 8th were paid a $1.00 dividend. This represents a $4.00 annualized dividend and a yield of 1.75%. The ex-dividend date was Thursday, March 7th. Travelers Companies’s payout ratio is 31.27%.

Insider Activity at Travelers Companies

In related news, CFO Daniel S. Frey sold 38,000 shares of the stock in a transaction that occurred on Tuesday, February 6th. The shares were sold at an average price of $212.55, for a total value of $8,076,900.00. Following the completion of the transaction, the chief financial officer now owns 14,810 shares of the company’s stock, valued at approximately $3,147,865.50. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Travelers Companies news, CFO Daniel S. Frey sold 38,000 shares of the company’s stock in a transaction that occurred on Tuesday, February 6th. The shares were sold at an average price of $212.55, for a total value of $8,076,900.00. Following the completion of the transaction, the chief financial officer now directly owns 14,810 shares in the company, valued at approximately $3,147,865.50. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Michael Frederick Klein sold 12,287 shares of the company’s stock in a transaction that occurred on Tuesday, January 23rd. The shares were sold at an average price of $210.68, for a total transaction of $2,588,625.16. Following the completion of the transaction, the executive vice president now owns 14,080 shares of the company’s stock, valued at $2,966,374.40. The disclosure for this sale can be found here. Insiders sold a total of 109,775 shares of company stock valued at $23,343,903 in the last quarter. Insiders own 1.29% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on TRV shares. UBS Group boosted their price objective on shares of Travelers Companies from $205.00 to $225.00 and gave the stock a “neutral” rating in a research note on Tuesday, January 23rd. Citigroup boosted their price objective on shares of Travelers Companies from $185.00 to $204.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 17th. The Goldman Sachs Group upped their price target on shares of Travelers Companies from $166.00 to $186.00 and gave the company a “sell” rating in a research note on Monday, January 22nd. Royal Bank of Canada upped their price target on shares of Travelers Companies from $185.00 to $210.00 and gave the company a “sector perform” rating in a research note on Monday, January 22nd. Finally, HSBC began coverage on shares of Travelers Companies in a research note on Thursday, December 28th. They issued a “hold” rating and a $203.00 price target on the stock. One research analyst has rated the stock with a sell rating, twelve have given a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Travelers Companies has an average rating of “Hold” and an average price target of $203.69.

Read Our Latest Report on TRV

About Travelers Companies

(Free Report)

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.

See Also

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

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