18,381 Shares in The Travelers Companies, Inc. (NYSE:TRV) Bought by Maryland State Retirement & Pension System

Posted by Defense World Staff on Mar 26th, 2023

Maryland State Retirement & Pension System bought a new position in The Travelers Companies, Inc. (NYSE:TRV – Get Rating) during the fourth quarter, according to the company in its most recent filing with the SEC. The firm bought 18,381 shares of the insurance provider’s stock, valued at approximately $3,446,000.

A number of other large investors also recently added to or reduced their stakes in TRV. Fairfield Bush & CO. purchased a new position in Travelers Companies in the 1st quarter worth $160,000. Cibc World Market Inc. raised its position in Travelers Companies by 28.8% in the 1st quarter. Cibc World Market Inc. now owns 5,934 shares of the insurance provider’s stock worth $1,084,000 after purchasing an additional 1,327 shares during the period. Vontobel Holding Ltd. raised its position in Travelers Companies by 1.0% in the 1st quarter. Vontobel Holding Ltd. now owns 11,905 shares of the insurance provider’s stock worth $2,210,000 after purchasing an additional 115 shares during the period. Blair William & Co. IL increased its position in shares of Travelers Companies by 40.6% in the first quarter. Blair William & Co. IL now owns 51,551 shares of the insurance provider’s stock valued at $9,420,000 after acquiring an additional 14,873 shares during the period. Finally, Sei Investments Co. increased its position in shares of Travelers Companies by 5.0% in the first quarter. Sei Investments Co. now owns 27,212 shares of the insurance provider’s stock valued at $4,952,000 after acquiring an additional 1,286 shares during the period. Hedge funds and other institutional investors own 81.59% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the stock. Piper Sandler boosted their price objective on shares of Travelers Companies from $182.00 to $190.00 in a research report on Tuesday, January 10th. Wells Fargo & Company boosted their price objective on shares of Travelers Companies from $180.00 to $181.00 and gave the company an “equal weight” rating in a research report on Wednesday, January 25th. Evercore ISI upgraded shares of Travelers Companies from an “in-line” rating to an “outperform” rating and boosted their price objective for the company from $183.00 to $220.00 in a research report on Tuesday, January 10th. Royal Bank of Canada boosted their price objective on shares of Travelers Companies from $190.00 to $195.00 in a research report on Wednesday, January 25th. Finally, Barclays decreased their price objective on shares of Travelers Companies from $197.00 to $196.00 and set an “equal weight” rating on the stock in a research report on Thursday, January 19th. One research analyst has rated the stock with a sell rating, ten have given a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Travelers Companies presently has a consensus rating of “Hold” and a consensus target price of $189.71.

Insider Buying and Selling

In related news, CEO Alan D. Schnitzer sold 150,829 shares of the business’s stock in a transaction dated Wednesday, February 8th. The shares were sold at an average price of $188.53, for a total transaction of $28,435,791.37. Following the sale, the chief executive officer now owns 196,914 shares of the company’s stock, valued at $37,124,196.42. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, EVP Gregory C. Toczydlowski sold 5,420 shares of the company’s stock in a transaction that occurred on Thursday, February 23rd. The shares were sold at an average price of $184.19, for a total value of $998,309.80. Following the transaction, the executive vice president now owns 18,416 shares in the company, valued at $3,392,043.04. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Alan D. Schnitzer sold 150,829 shares of the company’s stock in a transaction that occurred on Wednesday, February 8th. The stock was sold at an average price of $188.53, for a total transaction of $28,435,791.37. Following the completion of the transaction, the chief executive officer now owns 196,914 shares in the company, valued at approximately $37,124,196.42. The disclosure for this sale can be found here. Insiders have sold 188,163 shares of company stock valued at $35,402,200 over the last quarter. Corporate insiders own 1.07% of the company’s stock.

Travelers Companies Trading Up 0.6 %

Shares of TRV opened at $164.91 on Friday. The firm’s 50-day moving average price is $181.92 and its 200-day moving average price is $178.85. The firm has a market capitalization of $38.27 billion, a price-to-earnings ratio of 14.03, a PEG ratio of 1.08 and a beta of 0.61. The company has a current ratio of 0.33, a quick ratio of 0.33 and a debt-to-equity ratio of 0.34. The Travelers Companies, Inc. has a 1-year low of $149.65 and a 1-year high of $194.51.

Travelers Companies (NYSE:TRV – Get Rating) last posted its quarterly earnings data on Tuesday, January 24th. The insurance provider reported $3.40 EPS for the quarter, hitting the consensus estimate of $3.40. Travelers Companies had a net margin of 7.71% and a return on equity of 13.34%. The business had revenue of $8.83 billion for the quarter, compared to analyst estimates of $8.78 billion. During the same quarter in the previous year, the firm posted $5.20 earnings per share. Travelers Companies’s quarterly revenue was up 10.4% on a year-over-year basis. Sell-side analysts anticipate that The Travelers Companies, Inc. will post 14.11 EPS for the current year.

Travelers Companies Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 31st. Investors of record on Friday, March 10th will be paid a dividend of $0.93 per share. This represents a $3.72 annualized dividend and a yield of 2.26%. The ex-dividend date of this dividend is Thursday, March 9th. Travelers Companies’s payout ratio is currently 31.66%.

Travelers Companies Profile

(Get Rating)

The Travelers Cos., Inc is a holding company, which engages in the provision of commercial and personal property and casualty insurance products and services. It operates through the following business segments: Business Insurance, Bond and Specialty Insurance, and Personal Insurance. The Business Insurance segment provides an array of property and casualty insurance, and insurance related services to its customers primarily in the U.S., as well as in Canada, the United Kingdom, the Republic of Ireland and throughout other parts of the world as a corporate member of Lloyd’s.