The Travelers Companies, Inc. $TRV Shares Sold by State of Michigan Retirement System

State of Michigan Retirement System decreased its holdings in shares of The Travelers Companies, Inc. (NYSE:TRV) by 3.1% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 58,753 shares of the insurance provider’s stock after selling 1,900 shares during the period. State of Michigan Retirement System’s holdings in Travelers Companies were worth $17,137,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Chicago Partners Investment Group LLC grew its position in shares of Travelers Companies by 109.1% during the 1st quarter. Chicago Partners Investment Group LLC now owns 4,075 shares of the insurance provider’s stock valued at $1,229,000 after buying an additional 2,126 shares during the last quarter. Arbejdsmarkedets Tillaegspension lifted its holdings in Travelers Companies by 3.8% in the first quarter. Arbejdsmarkedets Tillaegspension now owns 86,470 shares of the insurance provider’s stock worth $25,222,000 after acquiring an additional 3,152 shares during the last quarter. J. Safra Sarasin Holding AG boosted its stake in Travelers Companies by 6.1% in the first quarter. J. Safra Sarasin Holding AG now owns 1,031 shares of the insurance provider’s stock valued at $301,000 after acquiring an additional 59 shares during the period. International Assets Investment Management LLC boosted its stake in Travelers Companies by 3.3% in the first quarter. International Assets Investment Management LLC now owns 2,117 shares of the insurance provider’s stock valued at $615,000 after acquiring an additional 67 shares during the period. Finally, Diversify Wealth Management LLC grew its holdings in shares of Travelers Companies by 994.3% during the first quarter. Diversify Wealth Management LLC now owns 8,218 shares of the insurance provider’s stock valued at $2,484,000 after purchasing an additional 7,467 shares during the last quarter. 82.45% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, insider Avrohom J. Kess sold 6,735 shares of the stock in a transaction dated Tuesday, April 28th. The shares were sold at an average price of $308.78, for a total value of $2,079,633.30. Following the completion of the transaction, the insider owned 48,737 shares in the company, valued at $15,049,010.86. This represents a 12.14% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Michael Frederick Klein sold 10,000 shares of the firm’s stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $307.65, for a total transaction of $3,076,500.00. Following the transaction, the executive vice president directly owned 45,125 shares in the company, valued at approximately $13,882,706.25. The trade was a 18.14% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 37,573 shares of company stock valued at $11,504,146. Corporate insiders own 1.39% of the company’s stock.

Analysts Set New Price Targets

TRV has been the topic of a number of research reports. Seaport Research Partners set a $322.00 price target on Travelers Companies in a research report on Tuesday, May 26th. Evercore set a $329.00 price objective on Travelers Companies and gave the company an “in-line” rating in a research report on Friday. Cantor Fitzgerald upped their price objective on Travelers Companies from $335.00 to $360.00 and gave the stock an “overweight” rating in a research note on Thursday, July 9th. TD Cowen lowered Travelers Companies from a “hold” rating to a “sell” rating and set a $297.00 target price on the stock. in a research report on Monday. Finally, Roth Capital reiterated a “buy” rating on shares of Travelers Companies in a research note on Monday, April 20th. Three equities research analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating, thirteen have given a Hold rating and four have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $331.21.

Travelers Companies Stock Down 1.3%

TRV opened at $336.92 on Wednesday. The stock’s 50 day moving average price is $311.62 and its 200 day moving average price is $300.46. The company has a debt-to-equity ratio of 0.29, a current ratio of 0.35 and a quick ratio of 0.35. The stock has a market cap of $71.65 billion, a P/E ratio of 10.02, a P/E/G ratio of 3.05 and a beta of 0.46. The Travelers Companies, Inc. has a 12 month low of $249.19 and a 12 month high of $349.35.

Travelers Companies (NYSE:TRV) last announced its quarterly earnings results on Thursday, April 16th. The insurance provider reported $7.71 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $6.80 by $0.91. Travelers Companies had a return on equity of 24.06% and a net margin of 15.54%.The company had revenue of $11.92 billion during the quarter, compared to analyst estimates of $11.11 billion. During the same quarter in the previous year, the firm posted $1.91 EPS. The firm’s quarterly revenue was down 1.7% on a year-over-year basis. As a group, research analysts predict that The Travelers Companies, Inc. will post 28.31 earnings per share for the current year.

Travelers Companies Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Wednesday, June 10th were issued a $1.25 dividend. The ex-dividend date of this dividend was Wednesday, June 10th. This is an increase from Travelers Companies’s previous quarterly dividend of $1.10. This represents a $5.00 annualized dividend and a yield of 1.5%. Travelers Companies’s dividend payout ratio is currently 14.88%.

Travelers Companies Profile

The Travelers Companies, Inc (NYSE: TRV) is a leading provider of property and casualty insurance products and services. The company underwrites a broad range of commercial and personal insurance lines, offering coverage designed to protect individuals, small and midsize businesses, and large corporate clients against property loss, liability, and other operational risks. Travelers is known for combining underwriting, claims management and risk control services to help clients prevent losses and recover when incidents occur.

On the commercial side, Travelers writes primary and specialty coverages including property, general liability, commercial auto, workers’ compensation, professional and management liability, surety and inland marine.