Meridian Investment Counsel Inc. Sells 1,788 Shares of The Travelers Companies, Inc. (NYSE:TRV)

Meridian Investment Counsel Inc. reduced its stake in shares of The Travelers Companies, Inc. (NYSE:TRV) by 9.0% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 18,178 shares of the insurance provider’s stock after selling 1,788 shares during the period. Travelers Companies comprises 1.3% of Meridian Investment Counsel Inc.’s investment portfolio, making the stock its 14th biggest position. Meridian Investment Counsel Inc.’s holdings in Travelers Companies were worth $4,379,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently modified their holdings of TRV. Vanguard Group Inc. raised its position in shares of Travelers Companies by 0.5% in the fourth quarter. Vanguard Group Inc. now owns 21,617,748 shares of the insurance provider’s stock valued at $5,207,499,000 after purchasing an additional 117,108 shares during the period. State Street Corp lifted its position in shares of Travelers Companies by 0.8% during the third quarter. State Street Corp now owns 15,566,941 shares of the insurance provider’s stock worth $3,644,532,000 after acquiring an additional 120,228 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of Travelers Companies by 2.3% in the third quarter. Geode Capital Management LLC now owns 5,076,220 shares of the insurance provider’s stock worth $1,187,865,000 after acquiring an additional 114,714 shares during the period. Norges Bank bought a new stake in shares of Travelers Companies during the 4th quarter valued at $560,918,000. Finally, Charles Schwab Investment Management Inc. boosted its stake in Travelers Companies by 1.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,522,769 shares of the insurance provider’s stock worth $366,820,000 after purchasing an additional 26,117 shares during the period. Institutional investors own 82.45% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently commented on TRV shares. The Goldman Sachs Group upgraded shares of 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. Wells Fargo & Company boosted their price target on shares of Travelers Companies from $213.00 to $225.00 and gave the company an “underweight” rating in a research report on Thursday, January 23rd. Piper Sandler raised Travelers Companies from a “neutral” rating to an “overweight” rating and lifted their price objective for the company from $259.00 to $310.00 in a research note on Friday, January 24th. Hsbc Global Res lowered Travelers Companies from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 24th. Finally, BMO Capital Markets boosted their price objective on Travelers Companies from $275.00 to $297.00 and gave the stock an “outperform” rating in a report on Friday, January 24th. Four investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $260.00.

Travelers Companies Stock Down 0.3 %

NYSE:TRV opened at $261.86 on Monday. The firm has a 50-day simple moving average of $250.56 and a two-hundred day simple moving average of $248.07. 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 Travelers Companies, Inc. has a fifty-two week low of $200.21 and a fifty-two week high of $269.56. The firm has a market cap of $59.37 billion, a P/E ratio of 12.20, a P/E/G ratio of 4.65 and a beta of 0.60.

Travelers Companies (NYSE:TRV) last released its quarterly earnings data on Wednesday, January 22nd. The insurance provider reported $9.15 EPS for the quarter, beating the consensus estimate of $6.50 by $2.65. The company had revenue of $12.01 billion for the quarter, compared to analysts’ expectations of $10.80 billion. Travelers Companies had a return on equity of 19.06% and a net margin of 10.77%. Travelers Companies’s revenue was up 9.9% compared to the same quarter last year. During the same period last year, the firm posted $7.01 earnings per share. Analysts predict that The Travelers Companies, Inc. will post 17.02 earnings per share for the current fiscal year.

Travelers Companies Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 10th will be paid a dividend of $1.05 per share. The ex-dividend date of this dividend is Monday, March 10th. This represents a $4.20 dividend on an annualized basis and a yield of 1.60%. Travelers Companies’s dividend 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.