New York State Teachers Retirement System Sells 8,983 Shares of The Travelers Companies, Inc. (NYSE:TRV)

New York State Teachers Retirement System trimmed its position in The Travelers Companies, Inc. (NYSE:TRV) by 4.2% during the 3rd quarter, HoldingsChannel reports. The firm owned 203,259 shares of the insurance provider’s stock after selling 8,983 shares during the quarter. New York State Teachers Retirement System’s holdings in Travelers Companies were worth $47,587,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Y.D. More Investments Ltd bought a new stake in shares of Travelers Companies in the second quarter worth about $25,000. Pathway Financial Advisers LLC bought a new stake in shares of Travelers Companies in the first quarter worth about $35,000. Beacon Capital Management LLC increased its holdings in shares of Travelers Companies by 74.2% in the first quarter. Beacon Capital Management LLC now owns 155 shares of the insurance provider’s stock worth $36,000 after purchasing an additional 66 shares during the last quarter. Wolff Wiese Magana LLC increased its holdings in shares of Travelers Companies by 39.1% in the third quarter. Wolff Wiese Magana LLC now owns 160 shares of the insurance provider’s stock worth $37,000 after purchasing an additional 45 shares during the last quarter. Finally, Salomon & Ludwin LLC increased its holdings in shares of Travelers Companies by 22.1% in the third quarter. Salomon & Ludwin LLC now owns 276 shares of the insurance provider’s stock worth $65,000 after purchasing an additional 50 shares during the last quarter. 82.45% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

TRV has been the topic of several research reports. Keefe, Bruyette & Woods lifted their target price on Travelers Companies from $245.00 to $273.00 and gave the stock a “market perform” rating in a report on Tuesday, October 22nd. Barclays lifted their price target on Travelers Companies from $286.00 to $295.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 23rd. JPMorgan Chase & Co. lifted their price target on Travelers Companies from $220.00 to $242.00 and gave the stock an “underweight” rating in a research report on Thursday, July 11th. Piper Sandler dropped their price target on Travelers Companies from $213.00 to $207.00 and set a “neutral” rating for the company in a research report on Monday, July 22nd. Finally, The Goldman Sachs Group lifted their price target on Travelers Companies from $216.00 to $245.00 and gave the stock a “sell” rating in a research report on Tuesday, October 22nd. Four investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $247.90.

Travelers Companies Stock Performance

Travelers Companies stock opened at $250.18 on Thursday. The company has a 50 day moving average price of $238.15 and a 200-day moving average price of $221.16. 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 Travelers Companies, Inc. has a fifty-two week low of $165.84 and a fifty-two week high of $269.55. The company has a market capitalization of $57.29 billion, a PE ratio of 18.59, a P/E/G ratio of 1.21 and a beta of 0.62.

Travelers Companies (NYSE:TRV) last posted its quarterly earnings results on Thursday, October 17th. The insurance provider reported $5.24 earnings per share for the quarter, beating the consensus estimate of $3.79 by $1.45. The firm had revenue of $11.90 billion during the quarter, compared to the consensus estimate of $11.46 billion. Travelers Companies had a net margin of 10.02% and a return on equity of 17.69%. The company’s revenue was up 11.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.95 earnings per share. As a group, equities analysts forecast that The Travelers Companies, Inc. will post 18.53 earnings per share for the current year.

Travelers Companies Dividend Announcement

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 paid a $1.05 dividend. This represents a $4.20 dividend on an annualized basis and a yield of 1.68%. The ex-dividend date is Tuesday, December 10th. Travelers Companies’s dividend payout ratio (DPR) is 31.20%.

Insider Buying and Selling

In related news, CEO Alan D. Schnitzer sold 40,524 shares of the business’s stock in a transaction that occurred on Monday, October 21st. The shares were sold at an average price of $260.12, for a total value of $10,541,102.88. Following the completion of the transaction, the chief executive officer now owns 221,924 shares of the company’s stock, valued at $57,726,870.88. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, Vice Chairman William H. Heyman sold 3,000 shares of the company’s stock in a transaction on Tuesday, October 22nd. The stock was sold at an average price of $260.55, for a total transaction of $781,650.00. Following the transaction, the insider now directly owns 250,384 shares of the company’s stock, valued at approximately $65,237,551.20. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Alan D. Schnitzer sold 40,524 shares of the company’s stock in a transaction on Monday, October 21st. The stock was sold at an average price of $260.12, for a total value of $10,541,102.88. Following the transaction, the chief executive officer now directly owns 221,924 shares in the company, valued at approximately $57,726,870.88. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 63,999 shares of company stock valued at $16,580,166 over the last 90 days. Corporate insiders own 1.33% of the company’s stock.

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.