First Manhattan CO. LLC. Reduces Stake in The Travelers Companies, Inc. (NYSE:TRV)

First Manhattan CO. LLC. lessened its stake in The Travelers Companies, Inc. (NYSE:TRV) by 3.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 41,710 shares of the insurance provider’s stock after selling 1,312 shares during the quarter. First Manhattan CO. LLC.’s holdings in Travelers Companies were worth $10,048,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Pinnacle Wealth Management Advisory Group LLC lifted its holdings in Travelers Companies by 1.2% during the fourth quarter. Pinnacle Wealth Management Advisory Group LLC now owns 3,414 shares of the insurance provider’s stock valued at $822,000 after purchasing an additional 41 shares during the last quarter. Quent Capital LLC boosted its holdings in shares of Travelers Companies by 3.3% in the fourth quarter. Quent Capital LLC now owns 1,363 shares of the insurance provider’s stock worth $328,000 after acquiring an additional 43 shares during the period. Salem Investment Counselors Inc. raised its stake in shares of Travelers Companies by 5.1% during the 4th quarter. Salem Investment Counselors Inc. now owns 905 shares of the insurance provider’s stock valued at $218,000 after purchasing an additional 44 shares during the period. Somerset Trust Co lifted its holdings in Travelers Companies by 5.2% during the 4th quarter. Somerset Trust Co now owns 918 shares of the insurance provider’s stock worth $221,000 after purchasing an additional 45 shares in the last quarter. Finally, Lake Street Advisors Group LLC boosted its stake in Travelers Companies by 2.0% in the 4th quarter. Lake Street Advisors Group LLC now owns 2,306 shares of the insurance provider’s stock worth $555,000 after purchasing an additional 46 shares during the period. 82.45% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts recently weighed in on TRV shares. Wells Fargo & Company upped their target price on shares of Travelers Companies from $247.00 to $260.00 and gave the stock an “equal weight” rating in a report on Thursday, April 17th. Hsbc Global Res downgraded Travelers Companies from a “strong-buy” rating to a “hold” rating in a research report on Monday, March 24th. Keefe, Bruyette & Woods raised their price objective on shares of Travelers Companies from $274.00 to $290.00 and gave the company an “outperform” rating in a research report on Thursday, April 17th. UBS Group reduced their target price on Travelers Companies from $270.00 to $267.00 and set a “neutral” rating on the stock in a research note on Wednesday, April 9th. Finally, Piper Sandler raised Travelers Companies from a “neutral” rating to an “overweight” rating and lifted their price target for the stock from $259.00 to $310.00 in a research note on Friday, January 24th. Three equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, Travelers Companies has a consensus rating of “Hold” and an average target price of $267.32.

Travelers Companies Stock Down 0.4 %

NYSE TRV opened at $269.65 on Friday. The Travelers Companies, Inc. has a 1 year low of $200.21 and a 1 year high of $273.08. The stock has a market capitalization of $61.09 billion, a PE ratio of 12.56, a PEG ratio of 4.65 and a beta of 0.53. 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 business’s 50-day moving average is $257.51 and its 200 day moving average is $251.57.

Travelers Companies (NYSE:TRV) last issued its quarterly earnings data on Wednesday, April 16th. The insurance provider reported $1.91 earnings per share for the quarter, topping analysts’ consensus estimates of $0.53 by $1.38. Travelers Companies had a return on equity of 19.06% and a net margin of 10.77%. The firm had revenue of $10.52 billion for the quarter, compared to analyst estimates of $10.97 billion. During the same period last year, the company earned $4.69 EPS. Sell-side analysts forecast that The Travelers Companies, Inc. will post 17.02 earnings per share for the current year.

Travelers Companies Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Tuesday, June 10th will be issued a $1.10 dividend. The ex-dividend date of this dividend is Tuesday, June 10th. This is a positive change from Travelers Companies’s previous quarterly dividend of $1.05. This represents a $4.40 annualized dividend and a yield of 1.63%. Travelers Companies’s dividend payout ratio is 23.95%.

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.