Oppenheimer Asset Management Inc. Sells 68 Shares of The Travelers Companies, Inc. (NYSE:TRV)

Oppenheimer Asset Management Inc. reduced its stake in The Travelers Companies, Inc. (NYSE:TRV) by 0.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 80,690 shares of the insurance provider’s stock after selling 68 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Travelers Companies were worth $19,437,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of TRV. J.W. Cole Advisors Inc. lifted its holdings in shares of Travelers Companies by 4.9% in the third quarter. J.W. Cole Advisors Inc. now owns 4,944 shares of the insurance provider’s stock worth $1,157,000 after acquiring an additional 229 shares during the last quarter. Pallas Capital Advisors LLC bought a new stake in Travelers Companies in the third quarter valued at $366,000. abrdn plc increased its stake in Travelers Companies by 2.6% in the third quarter. abrdn plc now owns 378,304 shares of the insurance provider’s stock valued at $88,671,000 after purchasing an additional 9,726 shares in the last quarter. Valmark Advisers Inc. acquired a new position in shares of Travelers Companies during the third quarter valued at about $209,000. Finally, Fidelis Capital Partners LLC acquired a new position in shares of Travelers Companies during the third quarter valued at about $259,000. 82.45% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have commented on TRV shares. StockNews.com lowered shares of Travelers Companies from a “buy” rating to a “hold” rating in a research report on Thursday, January 23rd. Janney Montgomery Scott lowered shares of Travelers Companies from a “buy” rating to a “neutral” rating and set a $280.00 target price on the stock. in a report on Thursday, November 21st. HSBC raised shares of Travelers Companies from a “hold” rating to a “buy” rating and set a $290.00 price target for the company in a research note on Tuesday, December 10th. Keefe, Bruyette & Woods raised shares of Travelers Companies from a “market perform” rating to an “outperform” rating and upped their price objective for the company from $275.00 to $286.00 in a research note on Wednesday, February 19th. Finally, The Goldman Sachs Group upgraded shares of Travelers Companies from a “sell” rating to a “buy” rating and set a $278.00 price target for the company in a report on Wednesday, January 8th. Four investment analysts have rated the stock with a sell rating, eleven have issued a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $261.05.

Travelers Companies Price Performance

NYSE:TRV opened at $248.61 on Thursday. The firm has a market cap of $56.37 billion, a price-to-earnings ratio of 11.58, a price-to-earnings-growth ratio of 4.65 and a beta of 0.64. The Travelers Companies, Inc. has a 12-month low of $200.21 and a 12-month high of $269.55. 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 company’s 50-day moving average is $242.50 and its two-hundred day moving average is $242.55.

Travelers Companies (NYSE:TRV) last issued its quarterly earnings data 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 net margin of 10.77% and a return on equity of 19.06%. The company had revenue of $12.01 billion during the quarter, compared to the consensus estimate of $10.80 billion. During the same quarter last year, the company earned $7.01 earnings per share. Travelers Companies’s revenue for the quarter was up 9.9% on a year-over-year basis. Research analysts expect that The Travelers Companies, Inc. will post 17.02 EPS for the current year.

Travelers Companies Announces Dividend

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 $1.05 dividend. This represents a $4.20 dividend on an annualized basis and a yield of 1.69%. The ex-dividend date of this dividend is Monday, March 10th. Travelers Companies’s payout ratio is 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.