Meridian Investment Counsel Inc. Sells 1,788 Shares of The Travelers Companies, Inc. (NYSE:TRV)

Meridian Investment Counsel Inc. reduced its position in shares of The Travelers Companies, Inc. (NYSE:TRV - Free Report) by 9.0% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 18,178 shares of the insurance provider's stock after selling 1,788 shares during the quarter. Travelers Companies makes up about 1.3% of Meridian Investment Counsel Inc.'s holdings, making the stock its 14th biggest holding. Meridian Investment Counsel Inc.'s holdings in Travelers Companies were worth $4,379,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. Townsquare Capital LLC grew its stake in shares of Travelers Companies by 52.5% in the third quarter. Townsquare Capital LLC now owns 9,676 shares of the insurance provider's stock worth $2,265,000 after purchasing an additional 3,332 shares during the last quarter. Captrust Financial Advisors lifted its holdings in Travelers Companies by 3.2% in the 3rd quarter. Captrust Financial Advisors now owns 31,229 shares of the insurance provider's stock worth $7,311,000 after buying an additional 965 shares during the period. Caisse DE Depot ET Placement DU Quebec grew its position in shares of Travelers Companies by 83.9% in the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 374,205 shares of the insurance provider's stock worth $87,609,000 after buying an additional 170,705 shares during the last quarter. Edgestream Partners L.P. purchased a new position in shares of Travelers Companies during the third quarter valued at approximately $1,909,000. Finally, Cobblestone Capital Advisors LLC NY raised its holdings in shares of Travelers Companies by 18.8% during the third quarter. Cobblestone Capital Advisors LLC NY now owns 1,374 shares of the insurance provider's stock valued at $322,000 after acquiring an additional 217 shares in the last quarter. Hedge funds and other institutional investors own 82.45% of the company's stock.

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Travelers Companies Stock Performance

Shares of NYSE:TRV traded up $0.04 during midday trading on Wednesday, reaching $264.58. 1,048,029 shares of the company's stock traded hands, compared to its average volume of 1,278,071. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.33 and a current ratio of 0.33. The Travelers Companies, Inc. has a one year low of $200.21 and a one year high of $269.56. The company has a market cap of $59.99 billion, a price-to-earnings ratio of 12.32, a P/E/G ratio of 4.65 and a beta of 0.60. The stock has a 50 day moving average of $251.56 and a 200 day moving average of $248.47.

Travelers Companies (NYSE:TRV - Get Free Report) last announced its quarterly earnings results on Wednesday, January 22nd. The insurance provider reported $9.15 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $6.50 by $2.65. Travelers Companies had a net margin of 10.77% and a return on equity of 19.06%. The firm had revenue of $12.01 billion for the quarter, compared to the consensus estimate of $10.80 billion. During the same quarter last year, the firm posted $7.01 EPS. The business's quarterly revenue was up 9.9% compared to the same quarter last year. As a group, equities research analysts anticipate that The Travelers Companies, Inc. will post 17.02 EPS for the current fiscal year.

Travelers Companies Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Monday, March 10th were paid a dividend of $1.05 per share. The ex-dividend date was Monday, March 10th. This represents a $4.20 dividend on an annualized basis and a yield of 1.59%. Travelers Companies's dividend payout ratio is presently 19.56%.

Analysts Set New Price Targets

Several analysts recently weighed in on the stock. Piper Sandler upgraded shares of Travelers Companies from a "neutral" rating to an "overweight" rating and lifted their price target for the company from $259.00 to $310.00 in a report on Friday, January 24th. Keefe, Bruyette & Woods raised shares of Travelers Companies from a "market perform" rating to an "outperform" rating and increased their price target for the stock from $275.00 to $286.00 in a research note on Wednesday, February 19th. HSBC cut Travelers Companies from a "buy" rating to a "hold" rating and set a $270.00 price objective on the stock. in a research report on Monday, March 24th. Royal Bank of Canada reissued a "sector perform" rating and issued a $268.00 target price (down previously from $273.00) on shares of Travelers Companies in a research report on Thursday, January 23rd. Finally, Wells Fargo & Company lifted their price target on Travelers Companies from $213.00 to $225.00 and gave the company an "underweight" rating in a research report on Thursday, January 23rd. Four analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and seven have given a buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $260.00.

About Travelers Companies

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.