New York State Teachers Retirement System Increases Stock Position in The Travelers Companies, Inc. $TRV

Key Points

• New York State Teachers Retirement System increased its stake in Travelers Companies by 4.2% in the first quarter, bringing its holdings to 192,588 shares worth about $56.2 million.
• Travelers reported better-than-expected quarterly earnings of $7.71 per share versus the $6.80 consensus estimate, while revenue also came in above forecasts at $11.92 billion.
• The company also raised its quarterly dividend to $1.25 per share from $1.10, lifting the annualized payout to $5.00 and the dividend yield to 1.5%.

New York State Teachers Retirement System lifted its position in shares of The Travelers Companies, Inc. (NYSE:TRV - Free Report) by 4.2% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 192,588 shares of the insurance provider's stock after buying an additional 7,733 shares during the period. New York State Teachers Retirement System owned approximately 0.09% of Travelers Companies worth $56,174,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in TRV. Vanguard Group Inc. raised its holdings in shares of Travelers Companies by 0.5% in the 4th quarter. Vanguard Group Inc. now owns 22,109,933 shares of the insurance provider's stock worth $6,413,207,000 after purchasing an additional 110,311 shares during the period. State Street Corp lifted its stake in shares of Travelers Companies by 3.1% in the 4th quarter. State Street Corp now owns 16,000,457 shares of the insurance provider's stock valued at $4,641,093,000 after purchasing an additional 486,861 shares in the last quarter. Morgan Stanley grew its holdings in shares of Travelers Companies by 2.3% during the 4th quarter. Morgan Stanley now owns 3,793,750 shares of the insurance provider's stock worth $1,100,416,000 after purchasing an additional 85,298 shares during the period. Dimensional Fund Advisors LP grew its holdings in shares of Travelers Companies by 2.5% during the 4th quarter. Dimensional Fund Advisors LP now owns 3,361,112 shares of the insurance provider's stock worth $974,993,000 after purchasing an additional 81,497 shares during the period. Finally, Norges Bank acquired a new stake in Travelers Companies during the 4th quarter worth approximately $723,339,000. Institutional investors and hedge funds own 82.45% of the company's stock.

Insiders Place Their Bets

In related news, insider Avrohom J. Kess sold 6,735 shares of Travelers Companies stock in a transaction on Tuesday, April 28th. The shares were sold at an average price of $308.78, for a total transaction of $2,079,633.30. Following the sale, the insider owned 48,737 shares of the company's stock, valued at $15,049,010.86. The trade was a 12.14% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Jeffrey P. Klenk sold 6,414 shares of the business's stock in a transaction on Monday, April 20th. The stock was sold at an average price of $305.06, for a total transaction of $1,956,654.84. Following the completion of the transaction, the executive vice president owned 6,075 shares in the company, valued at $1,853,239.50. This represents a 51.36% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 37,573 shares of company stock valued at $11,504,146. Corporate insiders own 1.39% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms recently commented on TRV. Wells Fargo & Company raised their price target on shares of Travelers Companies from $285.00 to $305.00 and gave the company an "equal weight" rating in a report on Thursday, April 9th. Bank of America decreased their price objective on shares of Travelers Companies from $259.00 to $257.00 and set an "underperform" rating for the company in a research note on Tuesday, April 14th. Piper Sandler increased their price objective on shares of Travelers Companies from $329.00 to $340.00 and gave the stock an "overweight" rating in a research report on Tuesday, May 26th. Seaport Research Partners set a $322.00 target price on shares of Travelers Companies in a research note on Tuesday, May 26th. Finally, Weiss Ratings restated a "buy (a-)" rating on shares of Travelers Companies in a report on Friday, May 8th. Two analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating, ten have given a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and an average target price of $309.07.

Travelers Companies Stock Performance

Shares of NYSE:TRV opened at $341.65 on Friday. The company has a market cap of $72.65 billion, a P/E ratio of 10.17, a PEG ratio of 3.09 and a beta of 0.46. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.35 and a current ratio of 0.35. The Travelers Companies, Inc. has a one year low of $249.19 and a one year high of $342.31. The business's 50-day simple moving average is $306.77 and its 200 day simple moving average is $298.09.

Travelers Companies (NYSE:TRV - Get Free Report) last released its quarterly earnings results on Thursday, April 16th. The insurance provider reported $7.71 EPS for the quarter, topping the consensus estimate of $6.80 by $0.91. Travelers Companies had a return on equity of 24.06% and a net margin of 15.54%.The firm had revenue of $11.92 billion for the quarter, compared to analyst estimates of $11.11 billion. During the same period in the previous year, the company posted $1.91 EPS. Travelers Companies's revenue for the quarter was down 1.7% on a year-over-year basis. On average, sell-side analysts forecast that The Travelers Companies, Inc. will post 28 earnings per share for the current fiscal year.

Travelers Companies Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Wednesday, June 10th were given a dividend of $1.25 per share. 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 dividend on an annualized basis and a dividend yield of 1.5%. Travelers Companies's dividend payout ratio is presently 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.

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