Maryland State Retirement & Pension System Cuts Stock Position in The Travelers Companies, Inc. (NYSE:TRV)

Maryland State Retirement & Pension System lowered its stake in The Travelers Companies, Inc. (NYSE:TRV) by 6.5% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 12,201 shares of the insurance provider’s stock after selling 855 shares during the period. Maryland State Retirement & Pension System’s holdings in Travelers Companies were worth $2,939,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in TRV. FMR LLC grew its stake in shares of Travelers Companies by 12.6% in the 3rd quarter. FMR LLC now owns 14,048,691 shares of the insurance provider’s stock worth $3,289,079,000 after buying an additional 1,568,909 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in shares of Travelers Companies in the 4th quarter worth approximately $138,619,000. Proficio Capital Partners LLC purchased a new stake in Travelers Companies during the 4th quarter valued at $96,012,000. Bank of Montreal Can boosted its stake in Travelers Companies by 66.9% during the 3rd quarter. Bank of Montreal Can now owns 705,793 shares of the insurance provider’s stock valued at $166,645,000 after purchasing an additional 282,884 shares during the last quarter. Finally, Bryn Mawr Capital Management LLC boosted its stake in Travelers Companies by 15,056.4% during the 4th quarter. Bryn Mawr Capital Management LLC now owns 238,258 shares of the insurance provider’s stock valued at $57,394,000 after purchasing an additional 236,686 shares during the last quarter. Hedge funds and other institutional investors own 82.45% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have commented on TRV. Piper Sandler upgraded Travelers Companies from a “neutral” rating to an “overweight” rating and increased their target price for the company from $259.00 to $310.00 in a research note on Friday, January 24th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $268.00 target price (down from $273.00) on shares of Travelers Companies in a report on Thursday, January 23rd. StockNews.com cut Travelers Companies from a “buy” rating to a “hold” rating in a report on Thursday, January 23rd. Barclays raised their target price on Travelers Companies from $278.00 to $287.00 and gave the stock an “overweight” rating in a report on Friday, January 24th. Finally, Wells Fargo & Company raised their target price on Travelers Companies from $213.00 to $225.00 and gave the stock an “underweight” rating in a report on Thursday, January 23rd. Four research analysts have rated the stock with a sell rating, eleven have given a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $261.05.

Travelers Companies Trading Down 0.7 %

TRV opened at $259.36 on Friday. The firm has a market cap of $58.80 billion, a P/E ratio of 12.08, a P/E/G ratio of 4.65 and a beta of 0.60. The Travelers Companies, Inc. has a 12 month low of $200.21 and a 12 month high of $269.56. The company has a current ratio of 0.33, a quick ratio of 0.33 and a debt-to-equity ratio of 0.29. The stock has a 50-day moving average of $247.81 and a 200 day moving average of $246.73.

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

Travelers Companies Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 10th will be given a dividend of $1.05 per share. The ex-dividend date of this dividend is Monday, March 10th. This represents a $4.20 annualized dividend and a dividend yield of 1.62%. Travelers Companies’s dividend payout ratio (DPR) is presently 19.56%.

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.