The Travelers Companies, Inc. $TRV Stock Position Lowered by State of Michigan Retirement System

State of Michigan Retirement System decreased its position in The Travelers Companies, Inc. (NYSE:TRV) by 3.1% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 58,753 shares of the insurance provider’s stock after selling 1,900 shares during the quarter. State of Michigan Retirement System’s holdings in Travelers Companies were worth $17,137,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of TRV. Norges Bank bought a new stake in Travelers Companies in the fourth quarter worth about $723,339,000. State Street Corp boosted its position in shares of Travelers Companies by 3.1% during the 4th quarter. State Street Corp now owns 16,000,457 shares of the insurance provider’s stock valued at $4,641,093,000 after purchasing an additional 486,861 shares in the last quarter. AustralianSuper Pty Ltd grew its stake in shares of Travelers Companies by 102.0% in the 4th quarter. AustralianSuper Pty Ltd now owns 908,559 shares of the insurance provider’s stock worth $263,537,000 after purchasing an additional 458,746 shares during the last quarter. Woodline Partners LP acquired a new position in shares of Travelers Companies in the 3rd quarter worth approximately $99,680,000. Finally, AQR Capital Management LLC raised its holdings in shares of Travelers Companies by 22.8% in the 3rd quarter. AQR Capital Management LLC now owns 1,785,288 shares of the insurance provider’s stock worth $496,872,000 after purchasing an additional 331,170 shares in the last quarter. Institutional investors own 82.45% of the company’s stock.

Insider Activity at Travelers Companies

In other news, insider Avrohom J. Kess sold 6,735 shares of the company’s stock in a transaction dated Tuesday, April 28th. The stock was sold at an average price of $308.78, for a total value of $2,079,633.30. Following the transaction, the insider owned 48,737 shares in the company, valued at $15,049,010.86. This represents a 12.14% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Vice Chairman William H. Heyman sold 1,557 shares of the stock in a transaction that occurred on Tuesday, April 28th. The stock was sold at an average price of $310.64, for a total transaction of $483,666.48. Following the completion of the sale, the insider directly owned 259,590 shares of the company’s stock, valued at $80,639,037.60. This trade represents a 0.60% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 37,573 shares of company stock worth $11,504,146. Company insiders own 1.39% of the company’s stock.

Travelers Companies Price Performance

TRV opened at $336.92 on Wednesday. The stock has a fifty day moving average of $311.62 and a 200-day moving average of $300.46. The firm has a market capitalization of $71.65 billion, a P/E ratio of 10.02, a PEG ratio of 3.05 and a beta of 0.46. The Travelers Companies, Inc. has a 12-month low of $249.19 and a 12-month high of $349.35. The company has a quick ratio of 0.35, a current ratio of 0.35 and a debt-to-equity ratio of 0.29.

Travelers Companies (NYSE:TRV) last issued its quarterly earnings results on Thursday, April 16th. The insurance provider reported $7.71 earnings per share for the quarter, beating analysts’ consensus estimates of $6.80 by $0.91. The business had revenue of $11.92 billion for the quarter, compared to the consensus estimate of $11.11 billion. Travelers Companies had a return on equity of 24.06% and a net margin of 15.54%.Travelers Companies’s revenue for the quarter was down 1.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.91 earnings per share. Equities analysts forecast that The Travelers Companies, Inc. will post 28.31 EPS for the current fiscal year.

Travelers Companies Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Wednesday, June 10th were given a dividend of $1.25 per share. This represents a $5.00 dividend on an annualized basis and a yield of 1.5%. The ex-dividend date was Wednesday, June 10th. This is a boost from Travelers Companies’s previous quarterly dividend of $1.10. Travelers Companies’s dividend payout ratio is 14.88%.

Wall Street Analysts Forecast Growth

Several research firms recently commented on TRV. Bank of America cut their target price on shares of Travelers Companies from $259.00 to $257.00 and set an “underperform” rating for the company in a research note on Tuesday, April 14th. HSBC upped their price target on Travelers Companies from $321.00 to $351.00 and gave the company a “hold” rating in a report on Monday, July 6th. Morgan Stanley increased their price objective on Travelers Companies from $310.00 to $330.00 and gave the company an “equal weight” rating in a research report on Monday, July 6th. Piper Sandler reissued an “overweight” rating and set a $340.00 price objective on shares of Travelers Companies in a research note on Monday. Finally, TD Cowen cut Travelers Companies from a “hold” rating to a “sell” rating and set a $297.00 target price on the stock. in a report on Monday. Three investment analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating, thirteen have given a Hold rating and four have given a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $331.21.

Travelers Companies Profile

The Travelers Companies, Inc (NYSE: TRV) is a leading provider of property and casualty insurance products and services. The company underwrites a broad range of commercial and personal insurance lines, offering coverage designed to protect individuals, small and midsize businesses, and large corporate clients against property loss, liability, and other operational risks. Travelers is known for combining underwriting, claims management and risk control services to help clients prevent losses and recover when incidents occur.

On the commercial side, Travelers writes primary and specialty coverages including property, general liability, commercial auto, workers’ compensation, professional and management liability, surety and inland marine.