Teacher Retirement System of Texas Sells 16,652 Shares of The Travelers Companies, Inc. $TRV

Teacher Retirement System of Texas trimmed its stake in The Travelers Companies, Inc. (NYSE:TRV) by 14.2% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 100,367 shares of the insurance provider’s stock after selling 16,652 shares during the period. Teacher Retirement System of Texas’ holdings in Travelers Companies were worth $26,852,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in the stock. Y Intercept Hong Kong Ltd raised its position in shares of Travelers Companies by 66.8% in the 2nd quarter. Y Intercept Hong Kong Ltd now owns 10,601 shares of the insurance provider’s stock worth $2,836,000 after acquiring an additional 4,247 shares in the last quarter. Convergence Investment Partners LLC grew its stake in Travelers Companies by 476.5% during the 2nd quarter. Convergence Investment Partners LLC now owns 4,652 shares of the insurance provider’s stock worth $1,245,000 after buying an additional 3,845 shares during the last quarter. Bessemer Group Inc. grew its stake in Travelers Companies by 2.2% during the 2nd quarter. Bessemer Group Inc. now owns 10,951 shares of the insurance provider’s stock worth $2,930,000 after buying an additional 238 shares during the last quarter. Schmidt P J Investment Management Inc. grew its stake in Travelers Companies by 24.8% during the 2nd quarter. Schmidt P J Investment Management Inc. now owns 1,960 shares of the insurance provider’s stock worth $524,000 after buying an additional 390 shares during the last quarter. Finally, Banco Santander S.A. grew its stake in Travelers Companies by 22.3% during the 2nd quarter. Banco Santander S.A. now owns 49,612 shares of the insurance provider’s stock worth $13,273,000 after buying an additional 9,054 shares during the last quarter. 82.45% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several brokerages recently weighed in on TRV. Weiss Ratings restated a “buy (b)” rating on shares of Travelers Companies in a research note on Tuesday, October 14th. Piper Sandler boosted their target price on Travelers Companies from $320.00 to $322.00 and gave the stock an “overweight” rating in a research note on Friday, October 17th. Cantor Fitzgerald upgraded Travelers Companies to a “strong-buy” rating in a research note on Wednesday, August 13th. Barclays set a $313.00 price target on Travelers Companies in a research note on Wednesday, October 8th. Finally, Morgan Stanley boosted their price target on Travelers Companies from $269.00 to $285.00 and gave the company an “equal weight” rating in a research note on Tuesday, October 7th. Two research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating, eleven have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $291.31.

Travelers Companies Stock Up 0.1%

Shares of TRV opened at $270.14 on Tuesday. The Travelers Companies, Inc. has a 52 week low of $230.23 and a 52 week high of $287.95. The company has a quick ratio of 0.35, a current ratio of 0.35 and a debt-to-equity ratio of 0.29. The company has a market capitalization of $60.26 billion, a price-to-earnings ratio of 10.62, a PEG ratio of 2.44 and a beta of 0.51. The stock’s 50-day moving average price is $274.23 and its 200-day moving average price is $267.49.

Travelers Companies (NYSE:TRV) last issued its earnings results on Thursday, October 16th. The insurance provider reported $8.14 EPS for the quarter, topping analysts’ consensus estimates of $6.01 by $2.13. Travelers Companies had a return on equity of 20.28% and a net margin of 12.14%.The firm had revenue of $11.47 billion for the quarter, compared to the consensus estimate of $11.15 billion. During the same quarter in the prior year, the business earned $5.24 earnings per share. The company’s revenue was up 4.8% compared to the same quarter last year. On average, sell-side analysts predict that The Travelers Companies, Inc. will post 17.02 EPS for the current year.

Travelers Companies Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 31st. Stockholders of record on Wednesday, December 10th will be paid a $1.10 dividend. The ex-dividend date is Wednesday, December 10th. This represents a $4.40 dividend on an annualized basis and a dividend yield of 1.6%. Travelers Companies’s dividend payout ratio is presently 17.30%.

Insider Activity at Travelers Companies

In other news, EVP Mojgan M. Lefebvre sold 16,820 shares of the company’s stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $277.54, for a total value of $4,668,222.80. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. 1.46% of the stock is owned by insiders.

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.