Quantinno Capital Management LP Raises Holdings in The Travelers Companies, Inc. (NYSE:TRV)

Quantinno Capital Management LP lifted its stake in The Travelers Companies, Inc. (NYSE:TRV) by 48.3% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 19,629 shares of the insurance provider’s stock after purchasing an additional 6,397 shares during the quarter. Quantinno Capital Management LP’s holdings in Travelers Companies were worth $4,729,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Bank of America Corp DE raised its holdings in shares of Travelers Companies by 236.9% in 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 buying an additional 2,466,098 shares during the last quarter. Norges Bank acquired a new position in shares of Travelers Companies in the 4th quarter valued at $560,918,000. Balyasny Asset Management L.P. raised 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 worth $360,694,000 after acquiring an additional 907,266 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in Travelers Companies during the 4th quarter worth about $138,619,000. Finally, Proficio Capital Partners LLC purchased a new stake in Travelers Companies during the 4th quarter valued at about $96,012,000. 82.45% of the stock is owned by hedge funds and other institutional investors.

Travelers Companies Trading Up 1.0%

Shares of TRV stock opened at $273.57 on Friday. The Travelers Companies, Inc. has a 1-year low of $200.21 and a 1-year high of $273.89. The company has a market cap of $61.98 billion, a price-to-earnings ratio of 12.74, a PEG ratio of 4.65 and a beta of 0.53. The company has a debt-to-equity ratio of 0.29, a current ratio of 0.33 and a quick ratio of 0.33. The stock has a 50 day simple moving average of $258.66 and a 200-day simple moving average of $252.10.

Travelers Companies (NYSE:TRV) last posted its quarterly earnings data on Wednesday, April 16th. The insurance provider reported $1.91 earnings per share 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 during the quarter, compared to analysts’ expectations of $10.97 billion. During the same period in the prior year, the business posted $4.69 earnings per share. On average, equities research analysts expect that The Travelers Companies, Inc. will post 17.02 EPS for the current fiscal year.

Travelers Companies Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Tuesday, June 10th will be paid a $1.10 dividend. The ex-dividend date of this dividend is Tuesday, June 10th. This is a positive change from Travelers Companies’s previous quarterly dividend of $1.05. This represents a $4.40 dividend on an annualized basis and a yield of 1.61%. Travelers Companies’s dividend payout ratio (DPR) is currently 23.95%.

Wall Street Analysts Forecast Growth

TRV has been the subject of several research analyst reports. Wells Fargo & Company raised their price objective on Travelers Companies from $247.00 to $260.00 and gave the stock an “equal weight” rating in a research note on Thursday, April 17th. Piper Sandler raised shares of Travelers Companies from a “neutral” rating to an “overweight” rating and raised their price target for the stock from $259.00 to $310.00 in a research report on Friday, January 24th. Royal Bank of Canada restated a “sector perform” rating and set a $268.00 price objective (down from $273.00) on shares of Travelers Companies in a research note on Thursday, January 23rd. Jefferies Financial Group increased their price objective on shares of Travelers Companies from $265.00 to $270.00 and gave the stock a “hold” rating in a research note on Friday, April 11th. Finally, Evercore ISI raised their target price on shares of Travelers Companies from $288.00 to $296.00 and gave the stock an “outperform” rating in a report on Thursday, April 17th. Three investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Travelers Companies has an average rating of “Hold” and a consensus price target of $267.32.

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.