The Travelers Companies, Inc. (NYSE:TRV) Shares Sold by Canada Pension Plan Investment Board

Canada Pension Plan Investment Board decreased its stake in The Travelers Companies, Inc. (NYSE:TRV) by 23.0% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 323,760 shares of the insurance provider’s stock after selling 96,485 shares during the period. Canada Pension Plan Investment Board owned approximately 0.14% of Travelers Companies worth $65,833,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. JPMorgan Chase & Co. boosted its position in Travelers Companies by 36.8% during the first quarter. JPMorgan Chase & Co. now owns 11,743,236 shares of the insurance provider’s stock worth $2,702,588,000 after purchasing an additional 3,158,979 shares in the last quarter. Acadian Asset Management LLC boosted its position in shares of Travelers Companies by 356.4% in the 2nd quarter. Acadian Asset Management LLC now owns 868,563 shares of the insurance provider’s stock worth $176,589,000 after buying an additional 678,241 shares in the last quarter. Zurich Insurance Group Ltd FI acquired a new stake in Travelers Companies in the 1st quarter valued at about $88,190,000. Point72 Asset Management L.P. increased its holdings in Travelers Companies by 6,167.2% during the 4th quarter. Point72 Asset Management L.P. now owns 333,854 shares of the insurance provider’s stock valued at $63,596,000 after acquiring an additional 328,527 shares in the last quarter. Finally, Renaissance Technologies LLC raised its position in Travelers Companies by 324.9% during the second quarter. Renaissance Technologies LLC now owns 301,584 shares of the insurance provider’s stock worth $61,324,000 after acquiring an additional 230,612 shares during the last quarter. Hedge funds and other institutional investors own 82.45% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the stock. TD Cowen lowered shares of Travelers Companies from a “buy” rating to a “hold” rating and lowered their price target for the company from $252.00 to $230.00 in a research report on Monday, July 15th. Bank of America raised their price target on Travelers Companies from $202.00 to $223.00 and gave the stock an “underperform” rating in a research report on Monday, July 22nd. JPMorgan Chase & Co. upped their price objective on Travelers Companies from $220.00 to $242.00 and gave the company an “underweight” rating in a research report on Thursday, July 11th. Piper Sandler cut their target price on shares of Travelers Companies from $213.00 to $207.00 and set a “neutral” rating for the company in a research note on Monday, July 22nd. Finally, Citigroup upped their target price on shares of Travelers Companies from $200.00 to $203.00 and gave the company a “sell” rating in a report on Tuesday, July 30th. Four equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating, five have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Travelers Companies currently has an average rating of “Hold” and a consensus target price of $227.05.

Travelers Companies Trading Up 0.4 %

Shares of TRV opened at $238.53 on Friday. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.33 and a quick ratio of 0.33. The Travelers Companies, Inc. has a 12 month low of $157.33 and a 12 month high of $243.48. The stock has a market cap of $54.37 billion, a PE ratio of 17.72, a P/E/G ratio of 1.26 and a beta of 0.62. The stock’s 50-day moving average is $221.42 and its two-hundred day moving average is $217.56.

Travelers Companies (NYSE:TRV) last released its quarterly earnings results on Friday, July 19th. The insurance provider reported $2.51 earnings per share for the quarter, missing analysts’ consensus estimates of $3.23 by ($0.72). The company had revenue of $11.28 billion during the quarter, compared to analysts’ expectations of $11.35 billion. Travelers Companies had a return on equity of 15.90% and a net margin of 8.37%. The firm’s revenue was up 11.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.06 EPS. Equities analysts forecast that The Travelers Companies, Inc. will post 17.19 earnings per share for the current fiscal year.

Travelers Companies Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Tuesday, September 10th will be paid a dividend of $1.05 per share. This represents a $4.20 annualized dividend and a yield of 1.76%. The ex-dividend date is Tuesday, September 10th. Travelers Companies’s dividend payout ratio (DPR) is 31.20%.

Insiders Place Their Bets

In other news, EVP Michael Frederick Klein sold 10,000 shares of the firm’s stock in a transaction dated Thursday, July 25th. The stock was sold at an average price of $211.44, for a total transaction of $2,114,400.00. Following the completion of the sale, the executive vice president now directly owns 22,798 shares in the company, valued at $4,820,409.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.33% of the stock is currently owned by company insiders.

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.