State Board of Administration of Florida Retirement System cut its stake in Travelers Companies Inc (NYSE:TRV) by 1.2% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 367,168 shares of the insurance provider’s stock after selling 4,311 shares during the period. State Board of Administration of Florida Retirement System owned 0.15% of Travelers Companies worth $41,876,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Massachusetts Financial Services Co. MA grew its position in shares of Travelers Companies by 2.8% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 12,181,595 shares of the insurance provider’s stock worth $1,210,242,000 after buying an additional 326,316 shares during the period. Clearbridge Investments LLC raised its stake in Travelers Companies by 6.5% during the first quarter. Clearbridge Investments LLC now owns 3,937,005 shares of the insurance provider’s stock worth $391,141,000 after acquiring an additional 240,762 shares during the period. Capital International Investors acquired a new stake in Travelers Companies during the first quarter worth about $387,424,000. First Eagle Investment Management LLC raised its stake in Travelers Companies by 48.9% during the first quarter. First Eagle Investment Management LLC now owns 3,885,425 shares of the insurance provider’s stock worth $386,017,000 after acquiring an additional 1,275,720 shares during the period. Finally, Geode Capital Management LLC raised its stake in Travelers Companies by 1.7% during the first quarter. Geode Capital Management LLC now owns 3,640,470 shares of the insurance provider’s stock worth $360,899,000 after acquiring an additional 61,609 shares during the period. 80.72% of the stock is owned by institutional investors.
TRV has been the topic of several research reports. Bank of America initiated coverage on shares of Travelers Companies in a research note on Monday, June 1st. They set a “buy” rating on the stock. Deutsche Bank upped their target price on shares of Travelers Companies from $120.00 to $126.00 and gave the stock a “hold” rating in a research report on Monday, July 27th. UBS Group upped their target price on shares of Travelers Companies from $119.00 to $125.00 and gave the stock a “neutral” rating in a research report on Monday, July 27th. TheStreet cut shares of Travelers Companies from a “b-” rating to a “c+” rating in a research report on Thursday, July 23rd. Finally, William Blair upgraded shares of Travelers Companies from a “market perform” rating to an “outperform” rating in a research report on Friday, July 17th. Four research analysts have rated the stock with a sell rating, ten have assigned a hold rating and four have assigned a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $128.24.
Shares of Travelers Companies stock traded down $0.22 on Friday, hitting $112.31. The company had a trading volume of 16,879 shares, compared to its average volume of 1,274,638. The company has a market cap of $28.66 billion, a PE ratio of 16.01, a PEG ratio of 1.99 and a beta of 0.86. Travelers Companies Inc has a 52 week low of $76.99 and a 52 week high of $153.65. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.40 and a quick ratio of 0.40. The business has a 50-day simple moving average of $116.26 and a 200-day simple moving average of $112.38.
Travelers Companies (NYSE:TRV) last issued its earnings results on Thursday, July 23rd. The insurance provider reported ($0.20) earnings per share for the quarter, hitting the Zacks’ consensus estimate of ($0.20). The firm had revenue of $7.40 billion during the quarter, compared to analysts’ expectations of $7.75 billion. Travelers Companies had a net margin of 5.81% and a return on equity of 7.20%. During the same period last year, the firm posted $2.02 earnings per share. On average, equities research analysts predict that Travelers Companies Inc will post 8.53 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Thursday, September 10th will be issued a dividend of $0.85 per share. This represents a $3.40 dividend on an annualized basis and a yield of 3.03%. The ex-dividend date of this dividend is Wednesday, September 9th. Travelers Companies’s payout ratio is 35.42%.
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.
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