Citizens Business Bank Buys 21,711 Shares of The Travelers Companies, Inc. (NYSE:TRV)

Citizens Business Bank boosted its stake in shares of The Travelers Companies, Inc. (NYSE:TRV) by 95.9% during the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 44,356 shares of the insurance provider’s stock after buying an additional 21,711 shares during the period. Travelers Companies makes up approximately 2.0% of Citizens Business Bank’s holdings, making the stock its 10th biggest holding. Citizens Business Bank’s holdings in Travelers Companies were worth $10,685,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Bank of America Corp DE grew its holdings in Travelers Companies by 236.9% during the fourth quarter. Bank of America Corp DE now owns 3,507,219 shares of the insurance provider’s stock worth $844,854,000 after purchasing an additional 2,466,098 shares during the period. Norges Bank acquired a new position in shares of Travelers Companies during the 4th quarter worth $560,918,000. Balyasny Asset Management L.P. lifted its stake in Travelers Companies by 153.8% in the 4th quarter. Balyasny Asset Management L.P. now owns 1,497,339 shares of the insurance provider’s stock valued at $360,694,000 after purchasing an additional 907,266 shares during the last quarter. Raymond James Financial Inc. acquired a new position in Travelers Companies in the 4th quarter worth about $138,619,000. Finally, Proficio Capital Partners LLC bought a new position in shares of Travelers Companies during the fourth quarter valued at $96,012,000. 82.45% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the stock. Keefe, Bruyette & Woods raised their price objective on shares of Travelers Companies from $274.00 to $290.00 and gave the stock an “outperform” rating in a research report on Thursday, April 17th. Jefferies Financial Group increased their target price on shares of Travelers Companies from $265.00 to $270.00 and gave the company a “hold” rating in a research report on Friday, April 11th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $268.00 price target (down from $273.00) on shares of Travelers Companies in a research report on Thursday, January 23rd. Wells Fargo & Company lifted their price objective on Travelers Companies from $247.00 to $260.00 and gave the company an “equal weight” rating in a research note on Thursday, April 17th. Finally, Evercore ISI raised their price objective on Travelers Companies from $288.00 to $296.00 and gave the company an “outperform” rating in a report on Thursday, April 17th. Three equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $267.32.

Travelers Companies Stock Up 0.3 %

TRV opened at $268.92 on Thursday. 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 company has a market capitalization of $60.93 billion, a PE ratio of 12.53, a PEG ratio of 4.65 and a beta of 0.53. The Travelers Companies, Inc. has a 1-year low of $200.21 and a 1-year high of $270.47. The firm’s 50 day simple moving average is $257.03 and its two-hundred day simple moving average is $251.42.

Travelers Companies (NYSE:TRV) last released its earnings results on Wednesday, April 16th. The insurance provider reported $1.91 EPS for the quarter, topping analysts’ consensus estimates of $0.53 by $1.38. Travelers Companies had a net margin of 10.77% and a return on equity of 19.06%. The company had revenue of $10.52 billion for the quarter, compared to analysts’ expectations of $10.97 billion. During the same quarter last year, the business earned $4.69 EPS. As a group, equities analysts forecast that The Travelers Companies, Inc. will post 17.02 EPS for the current year.

Travelers Companies Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Tuesday, June 10th will be given a dividend of $1.10 per share. The ex-dividend date of this dividend is Tuesday, June 10th. This represents a $4.40 annualized dividend and a yield of 1.64%. This is a positive change from Travelers Companies’s previous quarterly dividend of $1.05. Travelers Companies’s dividend payout ratio (DPR) is 23.95%.

Travelers Companies Company 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.