Retirement Systems of Alabama Decreases Stake in The Travelers Companies, Inc. (NYSE:TRV)

Retirement Systems of Alabama lowered its stake in The Travelers Companies, Inc. (NYSE:TRV) by 1.8% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 49,616 shares of the insurance provider’s stock after selling 897 shares during the period. Retirement Systems of Alabama’s holdings in Travelers Companies were worth $11,616,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in TRV. Franklin Resources Inc. raised its holdings in Travelers Companies by 39.5% during the 3rd quarter. Franklin Resources Inc. now owns 135,957 shares of the insurance provider’s stock valued at $32,646,000 after buying an additional 38,515 shares during the last quarter. Tidal Investments LLC increased its position in shares of Travelers Companies by 42.7% in the third quarter. Tidal Investments LLC now owns 7,430 shares of the insurance provider’s stock valued at $1,740,000 after acquiring an additional 2,225 shares during the period. Wilmington Savings Fund Society FSB bought a new position in shares of Travelers Companies during the third quarter valued at about $2,174,000. Arvest Bank Trust Division purchased a new stake in shares of Travelers Companies during the third quarter worth about $16,344,000. Finally, World Investment Advisors LLC bought a new stake in shares of Travelers Companies in the third quarter worth about $501,000. Hedge funds and other institutional investors own 82.45% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have weighed in on the company. Royal Bank of Canada increased their price objective on Travelers Companies from $250.00 to $273.00 and gave the stock a “sector perform” rating in a report on Friday, October 18th. Hsbc Global Res raised Travelers Companies from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, December 10th. The Goldman Sachs Group boosted their price objective on shares of Travelers Companies from $216.00 to $245.00 and gave the company a “sell” rating in a research report on Tuesday, October 22nd. Bank of America raised their target price on shares of Travelers Companies from $241.00 to $265.00 and gave the stock an “underperform” rating in a research report on Thursday, October 17th. Finally, Keefe, Bruyette & Woods boosted their price target on shares of Travelers Companies from $245.00 to $273.00 and gave the company a “market perform” rating in a research report on Tuesday, October 22nd. Five investment analysts have rated the stock with a sell rating, twelve have issued a hold rating, six have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $251.70.

Insider Buying and Selling

In related news, EVP Andy F. Bessette sold 4,520 shares of the firm’s stock in a transaction that occurred on Monday, October 28th. The shares were sold at an average price of $253.46, for a total value of $1,145,639.20. Following the sale, the executive vice president now owns 16,976 shares in the company, valued at approximately $4,302,736.96. This trade represents a 21.03 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Alan D. Schnitzer sold 40,524 shares of the business’s stock in a transaction on Monday, October 21st. The shares were sold at an average price of $260.12, for a total transaction of $10,541,102.88. Following the sale, the chief executive officer now owns 221,924 shares of the company’s stock, valued at approximately $57,726,870.88. This represents a 15.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 78,149 shares of company stock worth $20,295,856. 1.33% of the stock is owned by corporate insiders.

Travelers Companies Trading Up 0.0 %

Shares of NYSE TRV opened at $246.32 on Tuesday. The firm’s 50 day moving average price is $253.43 and its 200-day moving average price is $230.78. The Travelers Companies, Inc. has a 52-week low of $182.59 and a 52-week high of $269.55. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.34 and a current ratio of 0.34. The company has a market cap of $55.92 billion, a PE ratio of 12.63, a P/E/G ratio of 1.17 and a beta of 0.63.

Travelers Companies (NYSE:TRV) last released its quarterly earnings data on Thursday, October 17th. The insurance provider reported $5.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.79 by $1.45. The business had revenue of $11.90 billion for the quarter, compared to analysts’ expectations of $11.46 billion. Travelers Companies had a return on equity of 17.69% and a net margin of 10.02%. The firm’s quarterly revenue was up 11.9% on a year-over-year basis. During the same period in the prior year, the firm posted $1.95 EPS. On average, equities research analysts expect that The Travelers Companies, Inc. will post 18.84 EPS for the current fiscal year.

Travelers Companies Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Tuesday, December 10th will be issued a $1.05 dividend. The ex-dividend date of this dividend is Tuesday, December 10th. This represents a $4.20 annualized dividend and a yield of 1.71%. Travelers Companies’s payout ratio is 21.54%.

Travelers Companies 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.