Pinebridge Investments L.P. increased its stake in shares of The Travelers Companies, Inc. (NYSE:TRV – Get Rating) by 5.6% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 18,398 shares of the insurance provider’s stock after buying an additional 968 shares during the quarter. Pinebridge Investments L.P.’s holdings in Travelers Companies were worth $3,362,000 at the end of the most recent reporting period.
Other large investors have also added to or reduced their stakes in the company. Graypoint LLC grew its position in Travelers Companies by 115.5% during the first quarter. Graypoint LLC now owns 2,974 shares of the insurance provider’s stock worth $543,000 after buying an additional 1,594 shares in the last quarter. Prospera Financial Services Inc boosted its holdings in shares of Travelers Companies by 12.6% in the 1st quarter. Prospera Financial Services Inc now owns 3,547 shares of the insurance provider’s stock valued at $649,000 after purchasing an additional 398 shares in the last quarter. Anchor Capital Advisors LLC acquired a new stake in shares of Travelers Companies in the 1st quarter valued at $219,000. 55I LLC acquired a new stake in shares of Travelers Companies in the 1st quarter valued at $797,000. Finally, Twin Capital Management Inc. acquired a new stake in shares of Travelers Companies in the 1st quarter valued at $827,000. Institutional investors and hedge funds own 83.20% of the company’s stock.
Travelers Companies Stock Down 1.3 %
Shares of NYSE:TRV opened at $166.84 on Monday. The business has a fifty day simple moving average of $164.29 and a 200 day simple moving average of $171.56. The Travelers Companies, Inc. has a 12-month low of $145.40 and a 12-month high of $187.98. The company has a quick ratio of 0.34, a current ratio of 0.34 and a debt-to-equity ratio of 0.32. The firm has a market cap of $39.59 billion, a P/E ratio of 11.58, a P/E/G ratio of 3.08 and a beta of 0.62.
Travelers Companies (NYSE:TRV – Get Rating) last posted its quarterly earnings data on Thursday, July 21st. The insurance provider reported $2.57 earnings per share for the quarter, topping the consensus estimate of $2.00 by $0.57. Travelers Companies had a return on equity of 13.64% and a net margin of 9.97%. The firm had revenue of $9.14 billion during the quarter, compared to analyst estimates of $8.29 billion. During the same period last year, the company posted $3.45 EPS. The business’s quarterly revenue was up 5.2% on a year-over-year basis. Analysts predict that The Travelers Companies, Inc. will post 13.61 earnings per share for the current year.
Travelers Companies Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Friday, September 30th. Stockholders of record on Friday, September 9th will be paid a $0.93 dividend. The ex-dividend date is Thursday, September 8th. This represents a $3.72 annualized dividend and a dividend yield of 2.23%. Travelers Companies’s dividend payout ratio is presently 25.82%.
Analyst Ratings Changes
TRV has been the topic of a number of research analyst reports. Piper Sandler reduced their target price on Travelers Companies from $190.00 to $175.00 and set a “neutral” rating on the stock in a report on Friday, July 22nd. Barclays dropped their price target on Travelers Companies from $184.00 to $177.00 and set an “equal weight” rating for the company in a research note on Thursday, July 14th. Raymond James upgraded Travelers Companies from a “market perform” rating to a “strong-buy” rating and set a $185.00 price target for the company in a research note on Monday, July 25th. The Goldman Sachs Group cut Travelers Companies from a “neutral” rating to a “sell” rating and dropped their price target for the company from $190.00 to $170.00 in a research note on Friday, June 3rd. Finally, Citigroup initiated coverage on Travelers Companies in a research note on Monday, May 23rd. They issued a “neutral” rating and a $179.00 price target for the company. Two analysts have rated the stock with a sell rating, eleven have given a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Travelers Companies presently has an average rating of “Hold” and an average price target of $174.60.
In other news, EVP Mojgan M. Lefebvre sold 2,945 shares of the firm’s stock in a transaction dated Wednesday, August 24th. The stock was sold at an average price of $168.33, for a total value of $495,731.85. Following the completion of the sale, the executive vice president now directly owns 1,020 shares in the company, valued at approximately $171,696.60. The sale was disclosed in a document filed with the SEC, which is accessible through this link. 1.07% of the stock is currently owned by company insiders.
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.
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