SouthState Corp Raises Stock Holdings in The Travelers Companies, Inc. (NYSE:TRV)

SouthState Corp lifted its holdings in shares of The Travelers Companies, Inc. (NYSE:TRV) by 22.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,202 shares of the insurance provider’s stock after acquiring an additional 403 shares during the period. SouthState Corp’s holdings in Travelers Companies were worth $419,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Clearbridge Investments LLC increased its holdings in shares of Travelers Companies by 15.8% in the third quarter. Clearbridge Investments LLC now owns 4,575,759 shares of the insurance provider’s stock valued at $747,267,000 after purchasing an additional 623,974 shares during the period. Northern Trust Corp raised its position in Travelers Companies by 0.9% during the 3rd quarter. Northern Trust Corp now owns 3,431,825 shares of the insurance provider’s stock worth $560,451,000 after buying an additional 29,989 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in shares of Travelers Companies by 4.3% in the third quarter. Bank of New York Mellon Corp now owns 2,285,751 shares of the insurance provider’s stock valued at $373,286,000 after acquiring an additional 95,153 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of Travelers Companies by 0.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,395,810 shares of the insurance provider’s stock worth $227,950,000 after acquiring an additional 5,584 shares during the period. Finally, Hsbc Holdings PLC lifted its position in Travelers Companies by 7.2% in the third quarter. Hsbc Holdings PLC now owns 989,962 shares of the insurance provider’s stock valued at $162,157,000 after purchasing an additional 66,508 shares during the period. Hedge funds and other institutional investors own 82.45% of the company’s stock.

Travelers Companies Trading Down 0.2 %

Shares of NYSE TRV traded down $0.52 on Friday, reaching $213.85. 1,298,445 shares of the company traded hands, compared to its average volume of 1,525,222. The stock has a market capitalization of $48.97 billion, a PE ratio of 15.89, a P/E/G ratio of 1.12 and a beta of 0.60. The Travelers Companies, Inc. has a fifty-two week low of $157.33 and a fifty-two week high of $232.75. The company has a current ratio of 0.34, a quick ratio of 0.34 and a debt-to-equity ratio of 0.32. The company has a 50 day moving average of $220.96 and a 200 day moving average of $199.82.

Travelers Companies (NYSE:TRV) last posted its quarterly earnings results on Wednesday, April 17th. The insurance provider reported $4.69 earnings per share for the quarter, missing analysts’ consensus estimates of $4.75 by ($0.06). The company had revenue of $11.23 billion for the quarter, compared to analysts’ expectations of $10.62 billion. Travelers Companies had a return on equity of 13.94% and a net margin of 7.32%. The business’s revenue for the quarter was up 15.7% on a year-over-year basis. During the same period in the prior year, the business earned $4.11 EPS. On average, equities research analysts forecast that The Travelers Companies, Inc. will post 17.71 earnings per share for the current fiscal year.

Travelers Companies Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Monday, June 10th will be issued a dividend of $1.05 per share. The ex-dividend date is Friday, June 7th. This represents a $4.20 dividend on an annualized basis and a dividend yield of 1.96%. This is a boost from Travelers Companies’s previous quarterly dividend of $1.00. Travelers Companies’s payout ratio is presently 31.20%.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the company. Evercore ISI cut their target price on Travelers Companies from $253.00 to $250.00 and set an “outperform” rating for the company in a research note on Thursday, April 18th. JMP Securities restated a “market perform” rating on shares of Travelers Companies in a research report on Friday, April 19th. TD Cowen cut their price target on shares of Travelers Companies from $261.00 to $252.00 and set a “buy” rating for the company in a report on Tuesday, April 23rd. The Goldman Sachs Group boosted their price objective on shares of Travelers Companies from $186.00 to $212.00 and gave the stock a “sell” rating in a report on Friday, April 12th. Finally, Roth Mkm reaffirmed a “buy” rating and issued a $240.00 target price on shares of Travelers Companies in a report on Thursday, April 18th. Two investment analysts have rated the stock with a sell rating, thirteen have given a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $223.47.

Insider Activity at Travelers Companies

In related news, EVP Jeffrey P. Klenk sold 3,635 shares of the company’s stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $213.68, for a total transaction of $776,726.80. Following the completion of the sale, the executive vice president now directly owns 6,075 shares of the company’s stock, valued at approximately $1,298,106. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Travelers Companies news, EVP Jeffrey P. Klenk sold 3,635 shares of the company’s stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $213.68, for a total value of $776,726.80. Following the completion of the transaction, the executive vice president now owns 6,075 shares in the company, valued at approximately $1,298,106. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Daniel S. Frey sold 38,000 shares of Travelers Companies stock in a transaction that occurred on Tuesday, February 6th. The shares were sold at an average price of $212.55, for a total transaction of $8,076,900.00. Following the sale, the chief financial officer now owns 14,810 shares in the company, valued at approximately $3,147,865.50. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 56,635 shares of company stock worth $12,057,727. Company insiders own 1.33% of the company’s stock.

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.