Canada Pension Plan Investment Board Sells 239,750 Shares of The Travelers Companies, Inc. (NYSE:TRV)

Canada Pension Plan Investment Board lowered its holdings in shares of The Travelers Companies, Inc. (NYSE:TRV) by 40.5% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 352,469 shares of the insurance provider’s stock after selling 239,750 shares during the period. Canada Pension Plan Investment Board owned approximately 0.16% of Travelers Companies worth $84,906,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the business. Virtu Financial LLC lifted its position in shares of Travelers Companies by 25.6% during the 3rd quarter. Virtu Financial LLC now owns 16,990 shares of the insurance provider’s stock valued at $3,978,000 after acquiring an additional 3,462 shares during the period. Tudor Financial Inc. bought a new stake in Travelers Companies in the third quarter valued at $983,000. World Investment Advisors LLC acquired a new position in shares of Travelers Companies during the third quarter valued at about $501,000. Arvest Bank Trust Division acquired a new position in shares of Travelers Companies during the third quarter valued at about $16,344,000. Finally, Wilmington Savings Fund Society FSB bought a new position in shares of Travelers Companies during the 3rd quarter worth about $2,174,000. 82.45% of the stock is currently owned by institutional investors.

Travelers Companies Stock Up 1.4 %

Shares of NYSE:TRV opened at $256.05 on Friday. The Travelers Companies, Inc. has a 1 year low of $200.21 and a 1 year high of $269.56. The company has a market capitalization of $58.05 billion, a PE ratio of 11.93, a price-to-earnings-growth ratio of 4.65 and a beta of 0.48. The business has a fifty day moving average price of $252.15 and a two-hundred day moving average price of $249.22. The company has a debt-to-equity ratio of 0.29, a current ratio of 0.33 and a quick ratio of 0.33.

Travelers Companies (NYSE:TRV) last posted its quarterly earnings results on Wednesday, April 16th. The insurance provider reported $1.91 earnings per share for the quarter, beating the consensus estimate of $0.53 by $1.38. The company had revenue of $10.52 billion during the quarter, compared to analyst estimates of $10.97 billion. Travelers Companies had a net margin of 10.77% and a return on equity of 19.06%. During the same quarter in the prior year, the business earned $4.69 earnings per share. Analysts forecast that The Travelers Companies, Inc. will post 17.02 earnings per share for the current year.

Travelers Companies Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Tuesday, June 10th will be paid a dividend of $1.10 per share. The ex-dividend date is Tuesday, June 10th. This represents a $4.40 annualized dividend and a dividend yield of 1.72%. This is a positive change from Travelers Companies’s previous quarterly dividend of $1.05. Travelers Companies’s dividend payout ratio (DPR) is presently 23.95%.

Analysts Set New Price Targets

TRV has been the subject of a number of research analyst reports. Evercore ISI boosted their target price on Travelers Companies from $288.00 to $296.00 and gave the company an “outperform” rating in a research report on Thursday. UBS Group decreased their price objective on Travelers Companies from $270.00 to $267.00 and set a “neutral” rating for the company in a report on Wednesday, April 9th. Wells Fargo & Company increased their target price on Travelers Companies from $247.00 to $260.00 and gave the stock an “equal weight” rating in a report on Thursday. HSBC downgraded shares of Travelers Companies from a “buy” rating to a “hold” rating and set a $270.00 price target for the company. in a research report on Monday, March 24th. Finally, Keefe, Bruyette & Woods upped their price objective on shares of Travelers Companies from $274.00 to $290.00 and gave the stock an “outperform” rating in a report on Thursday. Three equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, Travelers Companies currently has an average rating of “Hold” and an average target price of $267.32.

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.