Equity Investment Corp Sells 5,668 Shares of The Travelers Companies, Inc. (NYSE:TRV)

Equity Investment Corp cut its position in shares of The Travelers Companies, Inc. (NYSE:TRV) by 1.4% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 396,779 shares of the insurance provider’s stock after selling 5,668 shares during the quarter. Travelers Companies makes up about 2.2% of Equity Investment Corp’s portfolio, making the stock its 23rd largest holding. Equity Investment Corp’s holdings in Travelers Companies were worth $95,580,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in the business. J.W. Cole Advisors Inc. lifted its position in shares of Travelers Companies by 4.9% during the 3rd quarter. J.W. Cole Advisors Inc. now owns 4,944 shares of the insurance provider’s stock worth $1,157,000 after buying an additional 229 shares in the last quarter. Pallas Capital Advisors LLC bought a new stake in Travelers Companies during the third quarter valued at approximately $366,000. abrdn plc boosted its holdings in shares of Travelers Companies by 2.6% in the 3rd quarter. abrdn plc now owns 378,304 shares of the insurance provider’s stock worth $88,671,000 after purchasing an additional 9,726 shares in the last quarter. Valmark Advisers Inc. purchased a new stake in shares of Travelers Companies in the 3rd quarter valued at $209,000. Finally, Fidelis Capital Partners LLC purchased a new position in Travelers Companies in the 3rd quarter worth approximately $259,000. Institutional investors and hedge funds own 82.45% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on TRV shares. StockNews.com cut shares of Travelers Companies from a “buy” rating to a “hold” rating in a research report on Thursday, January 23rd. BMO Capital Markets upped their price target on shares of Travelers Companies from $275.00 to $297.00 and gave the stock an “outperform” rating in a research note on Friday, January 24th. Piper Sandler upgraded Travelers Companies from a “neutral” rating to an “overweight” rating and boosted their price target for the stock from $259.00 to $310.00 in a research note on Friday, January 24th. Janney Montgomery Scott cut shares of Travelers Companies from a “buy” rating to a “neutral” rating and set a $280.00 target price on the stock. in a report on Thursday, November 21st. Finally, Hsbc Global Res raised Travelers Companies from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, December 10th. Four equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Travelers Companies currently has an average rating of “Hold” and a consensus price target of $261.05.

Travelers Companies Trading Down 1.5 %

Travelers Companies stock opened at $248.61 on Thursday. The firm’s 50 day moving average price is $242.50 and its 200-day moving average price is $242.55. The Travelers Companies, Inc. has a 1 year low of $200.21 and a 1 year high of $269.55. The stock has a market cap of $56.37 billion, a P/E ratio of 11.58, a PEG ratio of 4.65 and a beta of 0.64. 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 earnings results on Wednesday, January 22nd. The insurance provider reported $9.15 earnings per share for the quarter, beating analysts’ consensus estimates of $6.50 by $2.65. Travelers Companies had a net margin of 10.77% and a return on equity of 19.06%. The firm had revenue of $12.01 billion during the quarter, compared to analyst estimates of $10.80 billion. During the same period last year, the firm posted $7.01 earnings per share. Travelers Companies’s revenue for the quarter was up 9.9% compared to the same quarter last year. On average, equities analysts predict that The Travelers Companies, Inc. will post 17.02 earnings per share for the current fiscal year.

Travelers Companies Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 10th will be issued a dividend of $1.05 per share. The ex-dividend date is Monday, March 10th. This represents a $4.20 annualized dividend and a yield of 1.69%. Travelers Companies’s payout ratio is presently 19.56%.

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.