State of Michigan Retirement System Boosts Stake in Travelers Companies Inc (NYSE:TRV)

State of Michigan Retirement System grew its position in shares of Travelers Companies Inc (NYSE:TRV) by 9.2% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 64,545 shares of the insurance provider’s stock after acquiring an additional 5,462 shares during the quarter. State of Michigan Retirement System’s holdings in Travelers Companies were worth $7,361,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in TRV. JJJ Advisors Inc. purchased a new stake in Travelers Companies during the 2nd quarter worth $25,000. Ellevest Inc. purchased a new stake in shares of Travelers Companies in the first quarter worth about $30,000. Verus Capital Partners LLC acquired a new stake in shares of Travelers Companies in the fourth quarter valued at about $31,000. Prestige Wealth Management Group LLC raised its holdings in shares of Travelers Companies by 53.8% during the 1st quarter. Prestige Wealth Management Group LLC now owns 380 shares of the insurance provider’s stock valued at $38,000 after buying an additional 133 shares during the period. Finally, Capital Square LLC acquired a new position in Travelers Companies during the 1st quarter worth approximately $40,000. Institutional investors own 80.72% of the company’s stock.

Travelers Companies stock opened at $114.42 on Friday. The stock has a 50-day simple moving average of $115.26 and a 200 day simple moving average of $114.42. The stock has a market capitalization of $28.93 billion, a P/E ratio of 16.30, a PEG ratio of 2.01 and a beta of 0.89. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.40 and a current ratio of 0.40. Travelers Companies Inc has a 52 week low of $76.99 and a 52 week high of $153.65.

Travelers Companies (NYSE:TRV) last released its quarterly earnings data on Thursday, July 23rd. The insurance provider reported ($0.20) earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of ($0.20). Travelers Companies had a return on equity of 7.20% and a net margin of 5.81%. The company had revenue of $7.40 billion during the quarter, compared to analysts’ expectations of $7.75 billion. During the same period last year, the firm posted $2.02 earnings per share. Research analysts forecast that Travelers Companies Inc will post 8.53 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Thursday, September 10th will be issued a dividend of $0.85 per share. This represents a $3.40 annualized dividend and a yield of 2.97%. The ex-dividend date is Wednesday, September 9th. Travelers Companies’s dividend payout ratio is 35.42%.

A number of analysts have recently issued reports on the stock. Royal Bank of Canada reiterated a “hold” rating and set a $115.00 price objective on shares of Travelers Companies in a research note on Wednesday, April 22nd. Citigroup reduced their price objective on shares of Travelers Companies from $142.00 to $110.00 and set a “neutral” rating for the company in a report on Tuesday, April 21st. Wells Fargo & Co reissued a “sell” rating and issued a $110.00 target price on shares of Travelers Companies in a research report on Tuesday, April 21st. Morgan Stanley increased their price target on shares of Travelers Companies from $100.00 to $107.00 and gave the stock an “underweight” rating in a research report on Wednesday, July 15th. Finally, UBS Group lifted their target price on shares of Travelers Companies from $119.00 to $125.00 and gave the company a “neutral” rating in a research note on Monday, July 27th. Four investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and five have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $127.76.

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.

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

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