Municipal Employees Retirement System of Michigan cut its stake in The Travelers Companies, Inc. (NYSE:TRV) by 8.6% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 22,130 shares of the insurance provider’s stock after selling 2,070 shares during the period. Municipal Employees Retirement System of Michigan’s holdings in The Travelers Companies were worth $2,712,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of the company. Tradewinds Capital Management LLC grew its position in The Travelers Companies by 1.1% during the 2nd quarter. Tradewinds Capital Management LLC now owns 905 shares of the insurance provider’s stock worth $115,000 after acquiring an additional 10 shares during the last quarter. Community Bank N.A. grew its position in The Travelers Companies by 0.7% during the 2nd quarter. Community Bank N.A. now owns 1,435 shares of the insurance provider’s stock worth $181,000 after acquiring an additional 10 shares during the last quarter. First Business Financial Services Inc. boosted its position in The Travelers Companies by 0.5% in the 2nd quarter. First Business Financial Services Inc. now owns 4,362 shares of the insurance provider’s stock valued at $552,000 after buying an additional 20 shares during the last quarter. Northern Oak Wealth Management Inc. boosted its position in The Travelers Companies by 0.5% in the 1st quarter. Northern Oak Wealth Management Inc. now owns 4,873 shares of the insurance provider’s stock valued at $587,000 after buying an additional 23 shares during the last quarter. Finally, Lee Danner & Bass Inc. boosted its position in The Travelers Companies by 0.4% in the 2nd quarter. Lee Danner & Bass Inc. now owns 6,574 shares of the insurance provider’s stock valued at $832,000 after buying an additional 24 shares during the last quarter. 77.63% of the stock is owned by institutional investors and hedge funds.

A number of research analysts have commented on TRV shares. Citigroup Inc. reiterated a “buy” rating and issued a $148.00 price objective (down from $150.00) on shares of The Travelers Companies in a research report on Monday, July 24th. BidaskClub lowered The Travelers Companies from a “hold” rating to a “sell” rating in a research report on Monday, July 24th. MKM Partners restated a “neutral” rating and issued a $130.00 price target (up from $115.00) on shares of The Travelers Companies in a research report on Wednesday, July 26th. Barclays PLC raised their price target on The Travelers Companies from $119.00 to $122.00 and gave the stock an “equal weight” rating in a research report on Friday, August 11th. Finally, Royal Bank Of Canada restated a “buy” rating and issued a $135.00 price target on shares of The Travelers Companies in a research report on Monday, August 21st. Five analysts have rated the stock with a sell rating, nine have issued a hold rating and nine have issued a buy rating to the stock. The Travelers Companies currently has an average rating of “Hold” and a consensus target price of $128.54.

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Shares of The Travelers Companies, Inc. (TRV) traded down $2.22 during trading hours on Tuesday, hitting $133.32. The stock had a trading volume of 2,742,600 shares, compared to its average volume of 1,486,846. The Travelers Companies, Inc. has a 12 month low of $110.40 and a 12 month high of $135.71. The company has a market capitalization of $37,096.74, a PE ratio of 16.55, a PEG ratio of 2.50 and a beta of 1.26. The company has a current ratio of 0.41, a quick ratio of 0.41 and a debt-to-equity ratio of 0.29.

The Travelers Companies (NYSE:TRV) last released its quarterly earnings results on Thursday, October 19th. The insurance provider reported $0.91 earnings per share for the quarter, missing analysts’ consensus estimates of $2.10 by ($1.19). The Travelers Companies had a net margin of 8.56% and a return on equity of 9.87%. The business had revenue of $6.66 billion during the quarter, compared to analyst estimates of $6.46 billion. During the same quarter in the previous year, the firm posted $2.40 earnings per share. The firm’s quarterly revenue was up 4.2% on a year-over-year basis. analysts forecast that The Travelers Companies, Inc. will post 7.23 earnings per share for the current year.

The Travelers Companies declared that its Board of Directors has approved a stock repurchase plan on Monday, September 11th that permits the company to buyback shares. This buyback authorization permits the insurance provider to repurchase shares of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s board of directors believes its shares are undervalued.

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 29th. Stockholders of record on Monday, December 11th will be given a $0.72 dividend. The ex-dividend date is Friday, December 8th. This represents a $2.88 dividend on an annualized basis and a dividend yield of 2.16%. The Travelers Companies’s payout ratio is 33.45%.

The Travelers Companies Profile

The Travelers Companies, Inc is a holding company. The Company’s segments include Business and International Insurance; Bond & Specialty Insurance, and Personal Insurance. Through its subsidiaries, it provides commercial and personal property and casualty insurance products and services. The Business and International Insurance segment offers property and casualty insurance and insurance related services to its clients, in the United States and in Canada, as well as in the United Kingdom, the Republic of Ireland, Brazil and throughout other parts of the world.

Institutional Ownership by Quarter for The Travelers Companies (NYSE:TRV)

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