First Manhattan CO. LLC. Lowers Position in The Travelers Companies, Inc. (NYSE:TRV)

First Manhattan CO. LLC. trimmed its position in The Travelers Companies, Inc. (NYSE:TRV) by 3.0% during the 4th quarter, Holdings Channel.com reports. The firm owned 41,710 shares of the insurance provider’s stock after selling 1,312 shares during the period. First Manhattan CO. LLC.’s holdings in Travelers Companies were worth $10,048,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its position in shares of Travelers Companies by 0.5% in the 4th quarter. Vanguard Group Inc. now owns 21,617,748 shares of the insurance provider’s stock worth $5,207,499,000 after buying an additional 117,108 shares during the period. FMR LLC increased its stake in shares of Travelers Companies by 1.6% during the fourth quarter. FMR LLC now owns 14,277,851 shares of the insurance provider’s stock valued at $3,439,392,000 after purchasing an additional 229,160 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of Travelers Companies by 3.6% during the fourth quarter. Geode Capital Management LLC now owns 5,258,490 shares of the insurance provider’s stock valued at $1,269,321,000 after purchasing an additional 182,270 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its position in shares of Travelers Companies by 1.9% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 3,752,484 shares of the insurance provider’s stock worth $903,937,000 after purchasing an additional 70,036 shares in the last quarter. Finally, Bank of America Corp DE grew its stake in shares of Travelers Companies by 236.9% in the 4th quarter. Bank of America Corp DE now owns 3,507,219 shares of the insurance provider’s stock worth $844,854,000 after buying an additional 2,466,098 shares during the last quarter. 82.45% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the company. Wells Fargo & Company lifted their price objective on Travelers Companies from $247.00 to $260.00 and gave the company an “equal weight” rating in a research note on Thursday, April 17th. BMO Capital Markets increased their price objective on shares of Travelers Companies from $275.00 to $297.00 and gave the company an “outperform” rating in a research report on Friday, January 24th. UBS Group decreased their target price on shares of Travelers Companies from $270.00 to $267.00 and set a “neutral” rating for the company in a report on Wednesday, April 9th. Keefe, Bruyette & Woods increased their price target on shares of Travelers Companies from $274.00 to $290.00 and gave the company an “outperform” rating in a report on Thursday, April 17th. Finally, Evercore ISI increased their target price on Travelers Companies from $288.00 to $296.00 and gave the company an “outperform” rating in a research note on Thursday, April 17th. Three analysts have rated the stock with a sell rating, twelve have assigned a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, Travelers Companies has an average rating of “Hold” and an average target price of $267.32.

Travelers Companies Stock Down 0.4 %

Shares of TRV stock opened at $269.65 on Friday. The company has a current ratio of 0.33, a quick ratio of 0.33 and a debt-to-equity ratio of 0.29. The Travelers Companies, Inc. has a 12 month low of $200.21 and a 12 month high of $273.08. The stock has a market cap of $61.09 billion, a P/E ratio of 12.56, a P/E/G ratio of 4.65 and a beta of 0.53. The company has a 50 day simple moving average of $257.51 and a two-hundred day simple moving average of $251.57.

Travelers Companies (NYSE:TRV) last posted its quarterly earnings data on Wednesday, April 16th. The insurance provider reported $1.91 EPS for the quarter, topping the consensus estimate of $0.53 by $1.38. The firm had revenue of $10.52 billion during the quarter, compared to analyst estimates of $10.97 billion. Travelers Companies had a return on equity of 19.06% and a net margin of 10.77%. During the same period in the prior year, the business posted $4.69 EPS. On average, research analysts expect that The Travelers Companies, Inc. will post 17.02 earnings per share for the current year.

Travelers Companies Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Tuesday, June 10th will be paid a $1.10 dividend. The ex-dividend date of this dividend is Tuesday, June 10th. This represents a $4.40 annualized dividend and a dividend yield of 1.63%. This is an increase from Travelers Companies’s previous quarterly dividend of $1.05. Travelers Companies’s dividend payout ratio (DPR) is 23.95%.

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.