The Travelers Companies, Inc. (NYSE:TRV) Shares Sold by Corebridge Financial Inc.

Corebridge Financial Inc. cut its holdings in shares of The Travelers Companies, Inc. (NYSE:TRV) by 10.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 57,625 shares of the insurance provider’s stock after selling 6,476 shares during the period. Corebridge Financial Inc.’s holdings in Travelers Companies were worth $13,881,000 at the end of the most recent reporting period.

Other institutional investors also recently added to or reduced their stakes in the company. Cerity Partners LLC boosted its holdings in shares of Travelers Companies by 9.7% in the third quarter. Cerity Partners LLC now owns 73,777 shares of the insurance provider’s stock valued at $17,273,000 after acquiring an additional 6,551 shares in the last quarter. Swedbank AB increased its stake in Travelers Companies by 8.2% in the 3rd quarter. Swedbank AB now owns 123,619 shares of the insurance provider’s stock worth $28,942,000 after purchasing an additional 9,377 shares in the last quarter. Larson Financial Group LLC raised its holdings in shares of Travelers Companies by 191.9% during the third quarter. Larson Financial Group LLC now owns 2,207 shares of the insurance provider’s stock valued at $517,000 after acquiring an additional 1,451 shares during the period. Summit Trail Advisors LLC raised its stake in Travelers Companies by 36.6% during the 3rd quarter. Summit Trail Advisors LLC now owns 2,305 shares of the insurance provider’s stock valued at $540,000 after purchasing an additional 618 shares during the period. Finally, Dynamic Technology Lab Private Ltd acquired a new position in Travelers Companies during the third quarter valued at $1,106,000. Institutional investors and hedge funds own 82.45% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. HSBC downgraded shares of Travelers Companies from a “buy” rating to a “hold” rating and set a $270.00 target price for the company. in a research report on Monday. Keefe, Bruyette & Woods upgraded Travelers Companies from a “market perform” rating to an “outperform” rating and boosted their target price for the stock from $275.00 to $286.00 in a report on Wednesday, February 19th. StockNews.com lowered shares of Travelers Companies from a “buy” rating to a “hold” rating in a research report on Thursday, January 23rd. The Goldman Sachs Group raised Travelers Companies from a “sell” rating to a “buy” rating and set a $278.00 price objective for the company in a research report on Wednesday, January 8th. Finally, Hsbc Global Res upgraded shares of Travelers Companies from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, December 10th. Four analysts have rated the stock with a sell rating, twelve have given a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $260.00.

Travelers Companies Price Performance

Travelers Companies stock opened at $259.50 on Wednesday. The Travelers Companies, Inc. has a 52 week low of $200.21 and a 52 week high of $269.56. The business’s fifty day moving average is $249.27 and its two-hundred day moving average is $247.54. 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 firm has a market cap of $58.84 billion, a P/E ratio of 12.09, a P/E/G ratio of 4.65 and a beta of 0.60.

Travelers Companies (NYSE:TRV) last posted its quarterly earnings results on Wednesday, January 22nd. The insurance provider reported $9.15 earnings per share (EPS) 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 analysts’ expectations of $10.80 billion. During the same quarter last year, the business earned $7.01 earnings per share. The firm’s quarterly revenue was up 9.9% compared to the same quarter last year. Equities research analysts forecast 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. Stockholders of record on Monday, March 10th will be given a $1.05 dividend. The ex-dividend date of this dividend is Monday, March 10th. This represents a $4.20 annualized dividend and a dividend yield of 1.62%. Travelers Companies’s dividend payout ratio is currently 19.56%.

Travelers Companies 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.