State of Michigan Retirement System Cuts Holdings in The Travelers Companies, Inc. (NYSE:TRV)

State of Michigan Retirement System lessened its stake in The Travelers Companies, Inc. (NYSE:TRVFree Report) by 0.3% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 62,553 shares of the insurance provider’s stock after selling 200 shares during the quarter. State of Michigan Retirement System’s holdings in Travelers Companies were worth $11,916,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of TRV. Norges Bank purchased a new position in Travelers Companies in the 4th quarter worth approximately $239,875,000. Barclays PLC grew its stake in Travelers Companies by 215.5% in the 2nd quarter. Barclays PLC now owns 917,756 shares of the insurance provider’s stock worth $159,378,000 after buying an additional 626,837 shares in the last quarter. Clearbridge Investments LLC grew its stake in Travelers Companies by 15.8% in the 3rd quarter. Clearbridge Investments LLC now owns 4,575,759 shares of the insurance provider’s stock worth $747,267,000 after buying an additional 623,974 shares in the last quarter. Morgan Stanley lifted its holdings in shares of Travelers Companies by 19.6% in the 4th quarter. Morgan Stanley now owns 3,284,693 shares of the insurance provider’s stock worth $615,847,000 after acquiring an additional 539,294 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. lifted its holdings in shares of Travelers Companies by 1,826.3% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 512,714 shares of the insurance provider’s stock worth $83,731,000 after acquiring an additional 486,098 shares during the last quarter. Hedge funds and other institutional investors own 82.45% of the company’s stock.

Insider Activity

In other news, EVP Michael Frederick Klein sold 12,287 shares of the stock in a transaction that occurred on Tuesday, January 23rd. The stock was sold at an average price of $210.68, for a total transaction of $2,588,625.16. Following the transaction, the executive vice president now owns 14,080 shares in the company, valued at approximately $2,966,374.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other Travelers Companies news, Vice Chairman William H. Heyman sold 26,633 shares of the firm’s stock in a transaction on Tuesday, January 23rd. The stock was sold at an average price of $212.76, for a total value of $5,666,437.08. Following the transaction, the insider now owns 255,178 shares in the company, valued at approximately $54,291,671.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Michael Frederick Klein sold 12,287 shares of the firm’s stock in a transaction on Tuesday, January 23rd. The shares were sold at an average price of $210.68, for a total value of $2,588,625.16. Following the completion of the transaction, the executive vice president now owns 14,080 shares in the company, valued at approximately $2,966,374.40. The disclosure for this sale can be found here. Insiders have sold 109,775 shares of company stock worth $23,343,903 in the last quarter. Corporate insiders own 1.29% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the stock. Raymond James boosted their price objective on shares of Travelers Companies from $220.00 to $245.00 and gave the stock a “strong-buy” rating in a report on Monday, January 22nd. The Goldman Sachs Group boosted their price objective on shares of Travelers Companies from $166.00 to $186.00 and gave the stock a “sell” rating in a report on Monday, January 22nd. Citigroup boosted their price objective on shares of Travelers Companies from $185.00 to $204.00 and gave the stock a “neutral” rating in a report on Wednesday, January 17th. HSBC initiated coverage on shares of Travelers Companies in a research report on Thursday, December 28th. They set a “hold” rating and a $203.00 price target for the company. Finally, UBS Group increased their price target on shares of Travelers Companies from $205.00 to $225.00 and gave the company a “neutral” rating in a research report on Tuesday, January 23rd. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $203.69.

Check Out Our Latest Research Report on Travelers Companies

Travelers Companies Price Performance

Shares of NYSE:TRV opened at $227.93 on Wednesday. The company has a current ratio of 0.34, a quick ratio of 0.34 and a debt-to-equity ratio of 0.32. The Travelers Companies, Inc. has a twelve month low of $157.33 and a twelve month high of $230.87. The company’s 50 day moving average is $219.08 and its 200 day moving average is $191.58. The company has a market cap of $52.23 billion, a PE ratio of 17.82, a price-to-earnings-growth ratio of 1.20 and a beta of 0.58.

Travelers Companies (NYSE:TRVGet Free Report) last released its quarterly earnings data on Friday, January 19th. The insurance provider reported $7.01 EPS for the quarter, topping the consensus estimate of $5.10 by $1.91. Travelers Companies had a return on equity of 13.68% and a net margin of 7.23%. The business had revenue of $10.93 billion for the quarter, compared to analyst estimates of $10.18 billion. During the same quarter in the prior year, the firm posted $3.40 EPS. The business’s quarterly revenue was up 13.4% compared to the same quarter last year. On average, sell-side analysts forecast that The Travelers Companies, Inc. will post 17.7 EPS for the current year.

Travelers Companies Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Friday, March 8th were given a dividend of $1.00 per share. The ex-dividend date was Thursday, March 7th. This represents a $4.00 dividend on an annualized basis and a dividend yield of 1.75%. Travelers Companies’s dividend payout ratio (DPR) is 31.27%.

Travelers Companies Company Profile

(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.

See Also

Want to see what other hedge funds are holding TRV? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for The Travelers Companies, Inc. (NYSE:TRVFree Report).

Institutional Ownership by Quarter for Travelers Companies (NYSE:TRV)

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