New York State Common Retirement Fund cut its holdings in shares of Travelers Companies Inc (NYSE:TRV) by 6.6% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 695,440 shares of the insurance provider’s stock after selling 48,861 shares during the period. New York State Common Retirement Fund’s holdings in Travelers Companies were worth $95,387,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also modified their holdings of TRV. Oregon Public Employees Retirement Fund boosted its position in shares of Travelers Companies by 11,730.3% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 3,525,799 shares of the insurance provider’s stock worth $29,000 after buying an additional 3,495,996 shares during the period. Norges Bank acquired a new position in shares of Travelers Companies during the fourth quarter worth approximately $143,417,000. Eidelman Virant Capital acquired a new position in shares of Travelers Companies during the fourth quarter worth approximately $3,855,000. American Century Companies Inc. boosted its position in shares of Travelers Companies by 253.6% during the fourth quarter. American Century Companies Inc. now owns 1,082,948 shares of the insurance provider’s stock worth $129,683,000 after buying an additional 776,679 shares during the period. Finally, California Public Employees Retirement System boosted its position in shares of Travelers Companies by 41.6% during the fourth quarter. California Public Employees Retirement System now owns 1,461,036 shares of the insurance provider’s stock worth $174,959,000 after buying an additional 429,086 shares during the period. Institutional investors and hedge funds own 80.56% of the company’s stock.
TRV has been the topic of several recent analyst reports. Credit Suisse Group reissued a “neutral” rating on shares of Travelers Companies in a report on Wednesday, January 23rd. Zacks Investment Research raised Travelers Companies from a “sell” rating to a “buy” rating and set a $151.00 target price on the stock in a report on Tuesday, March 26th. MKM Partners boosted their target price on Travelers Companies to $140.00 and gave the stock a “neutral” rating in a report on Monday, April 22nd. Barclays boosted their target price on Travelers Companies from $145.00 to $160.00 and gave the stock an “overweight” rating in a report on Monday, April 1st. Finally, Wells Fargo & Co set a $130.00 target price on Travelers Companies and gave the stock a “hold” rating in a report on Wednesday, January 23rd. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and two have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $140.58.
Shares of NYSE:TRV opened at $147.49 on Monday. The company has a market cap of $38.63 billion, a P/E ratio of 16.50, a PEG ratio of 1.34 and a beta of 1.08. Travelers Companies Inc has a 12 month low of $111.08 and a 12 month high of $148.52. The company has a current ratio of 0.38, a quick ratio of 0.38 and a debt-to-equity ratio of 0.29.
Travelers Companies (NYSE:TRV) last posted its quarterly earnings results on Thursday, April 18th. The insurance provider reported $2.83 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $2.76 by $0.07. The company had revenue of $6.86 billion for the quarter, compared to analysts’ expectations of $6.94 billion. Travelers Companies had a return on equity of 10.86% and a net margin of 8.64%. The firm’s revenue was up 4.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.46 earnings per share. As a group, analysts anticipate that Travelers Companies Inc will post 11.11 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Monday, June 10th will be issued a $0.82 dividend. The ex-dividend date is Friday, June 7th. This represents a $3.28 annualized dividend and a dividend yield of 2.22%. This is a boost from Travelers Companies’s previous quarterly dividend of $0.77. Travelers Companies’s dividend payout ratio is currently 34.45%.
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Travelers Companies 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.
Further Reading: Fibonacci Channel
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