New York State Common Retirement Fund lessened its position in shares of The Travelers Companies, Inc. (NYSE:TRV - Free Report) by 7.6% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 317,341 shares of the insurance provider's stock after selling 26,100 shares during the quarter. New York State Common Retirement Fund owned approximately 0.14% of Travelers Companies worth $74,296,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also made changes to their positions in the company. Nordea Investment Management AB boosted its stake in shares of Travelers Companies by 38.7% during the 1st quarter. Nordea Investment Management AB now owns 342,288 shares of the insurance provider's stock worth $78,689,000 after purchasing an additional 95,451 shares during the last quarter. Cetera Investment Advisers grew its stake in Travelers Companies by 356.3% in the 1st quarter. Cetera Investment Advisers now owns 45,541 shares of the insurance provider's stock worth $10,481,000 after acquiring an additional 35,560 shares during the period. GAMMA Investing LLC raised its holdings in Travelers Companies by 162.6% in the 2nd quarter. GAMMA Investing LLC now owns 4,926 shares of the insurance provider's stock valued at $1,002,000 after acquiring an additional 3,050 shares during the last quarter. Manning & Napier Advisors LLC purchased a new position in shares of Travelers Companies during the 2nd quarter worth $17,303,000. Finally, Cetera Advisors LLC boosted its holdings in shares of Travelers Companies by 75.3% during the first quarter. Cetera Advisors LLC now owns 10,996 shares of the insurance provider's stock worth $2,531,000 after purchasing an additional 4,724 shares during the last quarter. 82.45% of the stock is currently owned by hedge funds and other institutional investors.
Insider Buying and Selling
In other news, CEO Alan D. Schnitzer sold 40,524 shares of the company's stock in a transaction dated Monday, October 21st. The shares were sold at an average price of $260.12, for a total value of $10,541,102.88. Following the sale, the chief executive officer now owns 221,924 shares in the company, valued at approximately $57,726,870.88. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, Vice Chairman William H. Heyman sold 3,000 shares of the firm's stock in a transaction on Tuesday, October 22nd. The stock was sold at an average price of $260.55, for a total transaction of $781,650.00. Following the transaction, the insider now directly owns 250,384 shares in the company, valued at $65,237,551.20. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Alan D. Schnitzer sold 40,524 shares of Travelers Companies stock in a transaction on Monday, October 21st. The stock was sold at an average price of $260.12, for a total transaction of $10,541,102.88. Following the completion of the transaction, the chief executive officer now directly owns 221,924 shares of the company's stock, valued at approximately $57,726,870.88. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 63,999 shares of company stock worth $16,580,166. Insiders own 1.33% of the company's stock.
Travelers Companies Stock Down 0.1 %
Travelers Companies stock traded down $0.30 during midday trading on Friday, hitting $245.64. 1,450,251 shares of the stock were exchanged, compared to its average volume of 1,186,107. The Travelers Companies, Inc. has a 1 year low of $165.84 and a 1 year high of $269.55. The company has a debt-to-equity ratio of 0.29, a current ratio of 0.34 and a quick ratio of 0.34. The firm has a market cap of $55.77 billion, a P/E ratio of 12.60, a P/E/G ratio of 1.18 and a beta of 0.62. The company has a 50 day moving average price of $239.19 and a two-hundred day moving average price of $221.50.
Travelers Companies (NYSE:TRV - Get Free Report) last announced its earnings results on Thursday, October 17th. The insurance provider reported $5.24 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.79 by $1.45. The business had revenue of $11.90 billion for the quarter, compared to analyst estimates of $11.46 billion. Travelers Companies had a return on equity of 17.69% and a net margin of 10.02%. The company's revenue for the quarter was up 11.9% compared to the same quarter last year. During the same period in the previous year, the company earned $1.95 earnings per share. On average, sell-side analysts predict that The Travelers Companies, Inc. will post 18.53 earnings per share for the current fiscal year.
Travelers Companies Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Tuesday, December 10th will be given a dividend of $1.05 per share. This represents a $4.20 dividend on an annualized basis and a dividend yield of 1.71%. The ex-dividend date is Tuesday, December 10th. Travelers Companies's payout ratio is currently 21.54%.
Wall Street Analysts Forecast Growth
Several equities analysts recently weighed in on the company. BMO Capital Markets increased their target price on Travelers Companies from $233.00 to $270.00 and gave the stock an "outperform" rating in a research report on Tuesday, October 22nd. Jefferies Financial Group increased their price objective on shares of Travelers Companies from $210.00 to $235.00 and gave the stock a "hold" rating in a report on Wednesday, October 9th. Barclays boosted their target price on shares of Travelers Companies from $286.00 to $295.00 and gave the company an "overweight" rating in a report on Wednesday, October 23rd. Morgan Stanley cut their price target on shares of Travelers Companies from $220.00 to $210.00 and set an "equal weight" rating on the stock in a research note on Friday, July 19th. Finally, Bank of America boosted their price objective on shares of Travelers Companies from $241.00 to $265.00 and gave the company an "underperform" rating in a research note on Thursday, October 17th. Four analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Travelers Companies currently has an average rating of "Hold" and an average price target of $247.90.
View Our Latest Research Report on Travelers Companies
About Travelers Companies
(
Free Report)
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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