Allstate Corp Purchases Shares of 6,981 The Travelers Companies, Inc. (NYSE:TRV)

Allstate Corp acquired a new stake in shares of The Travelers Companies, Inc. (NYSE:TRV) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 6,981 shares of the insurance provider’s stock, valued at approximately $1,682,000.

A number of other institutional investors have also recently made changes to their positions in TRV. Townsquare Capital LLC grew its holdings in shares of Travelers Companies by 52.5% in the third quarter. Townsquare Capital LLC now owns 9,676 shares of the insurance provider’s stock worth $2,265,000 after purchasing an additional 3,332 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in Travelers Companies by 5.7% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 111,187 shares of the insurance provider’s stock worth $26,031,000 after acquiring an additional 5,948 shares in the last quarter. Fiduciary Trust Co increased its position in shares of Travelers Companies by 18.2% during the third quarter. Fiduciary Trust Co now owns 4,331 shares of the insurance provider’s stock worth $1,014,000 after acquiring an additional 666 shares during the period. Public Sector Pension Investment Board raised its stake in shares of Travelers Companies by 2.1% during the third quarter. Public Sector Pension Investment Board now owns 39,630 shares of the insurance provider’s stock valued at $9,278,000 after acquiring an additional 800 shares in the last quarter. Finally, Captrust Financial Advisors boosted its holdings in shares of Travelers Companies by 3.2% in the third quarter. Captrust Financial Advisors now owns 31,229 shares of the insurance provider’s stock valued at $7,311,000 after purchasing an additional 965 shares during the period. Hedge funds and other institutional investors own 82.45% of the company’s stock.

Travelers Companies Price Performance

Travelers Companies stock opened at $261.86 on Friday. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.33 and a current ratio of 0.33. The company’s fifty day moving average price is $250.56 and its 200 day moving average price is $247.96. The stock has a market capitalization of $59.37 billion, a P/E ratio of 12.20, a P/E/G ratio of 4.65 and a beta of 0.60. The Travelers Companies, Inc. has a 1 year low of $200.21 and a 1 year high of $269.56.

Travelers Companies (NYSE:TRV) last released its earnings results on Wednesday, January 22nd. The insurance provider reported $9.15 earnings per share for the quarter, beating the consensus estimate of $6.50 by $2.65. Travelers Companies had a return on equity of 19.06% and a net margin of 10.77%. The business had revenue of $12.01 billion for the quarter, compared to the consensus estimate of $10.80 billion. During the same quarter last year, the business posted $7.01 earnings per share. The business’s quarterly revenue was up 9.9% compared to the same quarter last year. As a group, equities research analysts anticipate that The Travelers Companies, Inc. will post 17.02 earnings per share for the current fiscal year.

Travelers Companies Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 10th will be issued a dividend of $1.05 per share. This represents a $4.20 dividend on an annualized basis and a dividend yield of 1.60%. The ex-dividend date of this dividend is Monday, March 10th. Travelers Companies’s payout ratio is 19.56%.

Analyst Ratings Changes

A number of equities research analysts have weighed in on TRV shares. The Goldman Sachs Group raised Travelers Companies from a “sell” rating to a “buy” rating and set a $278.00 target price for the company in a research report on Wednesday, January 8th. Wells Fargo & Company upped their price objective on shares of Travelers Companies from $213.00 to $225.00 and gave the stock an “underweight” rating in a research note on Thursday, January 23rd. Royal Bank of Canada reissued a “sector perform” rating and set a $268.00 target price (down previously from $273.00) on shares of Travelers Companies in a research report on Thursday, January 23rd. Piper Sandler upgraded Travelers Companies from a “neutral” rating to an “overweight” rating and upped their target price for the stock from $259.00 to $310.00 in a report on Friday, January 24th. Finally, Keefe, Bruyette & Woods raised Travelers Companies from a “market perform” rating to an “outperform” rating and increased their target price for the company from $275.00 to $286.00 in a research report on Wednesday, February 19th. Four analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $260.00.

About Travelers Companies

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.