New York Life Investment Management LLC Boosts Position in The Travelers Companies, Inc. $TRV

New York Life Investment Management LLC lifted its stake in shares of The Travelers Companies, Inc. (NYSE:TRV) by 1.2% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 33,879 shares of the insurance provider’s stock after acquiring an additional 389 shares during the period. New York Life Investment Management LLC’s holdings in Travelers Companies were worth $9,064,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also modified their holdings of the company. Cornerstone Planning Group LLC raised its holdings in shares of Travelers Companies by 700.0% during the 1st quarter. Cornerstone Planning Group LLC now owns 96 shares of the insurance provider’s stock worth $25,000 after acquiring an additional 84 shares during the period. Greykasell Wealth Strategies Inc. purchased a new position in shares of Travelers Companies during the 1st quarter worth $26,000. Missouri Trust & Investment Co raised its holdings in shares of Travelers Companies by 122.2% during the 2nd quarter. Missouri Trust & Investment Co now owns 100 shares of the insurance provider’s stock worth $27,000 after acquiring an additional 55 shares during the period. Flaharty Asset Management LLC acquired a new stake in shares of Travelers Companies during the 1st quarter worth about $32,000. Finally, Nova Wealth Management Inc. acquired a new stake in shares of Travelers Companies during the 2nd quarter worth about $32,000. Hedge funds and other institutional investors own 82.45% of the company’s stock.

Travelers Companies Stock Performance

NYSE TRV opened at $268.30 on Wednesday. The company has a market cap of $59.85 billion, a P/E ratio of 10.55, a P/E/G ratio of 2.43 and a beta of 0.51. The company has a debt-to-equity ratio of 0.29, a current ratio of 0.35 and a quick ratio of 0.35. The stock has a 50-day moving average of $274.22 and a two-hundred day moving average of $267.65. The Travelers Companies, Inc. has a 1-year low of $230.23 and a 1-year high of $287.95.

Travelers Companies (NYSE:TRV) last released its earnings results on Thursday, October 16th. The insurance provider reported $8.14 earnings per share for the quarter, beating the consensus estimate of $6.01 by $2.13. The company had revenue of $11.47 billion during the quarter, compared to the consensus estimate of $11.15 billion. Travelers Companies had a return on equity of 20.28% and a net margin of 12.14%.Travelers Companies’s revenue was up 4.8% compared to the same quarter last year. During the same period in the previous year, the company posted $5.24 EPS. As a group, analysts anticipate that The Travelers Companies, Inc. will post 17.02 EPS for the current year.

Travelers Companies Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 31st. Shareholders of record on Wednesday, December 10th will be given a $1.10 dividend. This represents a $4.40 annualized dividend and a yield of 1.6%. The ex-dividend date of this dividend is Wednesday, December 10th. Travelers Companies’s payout ratio is currently 17.30%.

Wall Street Analysts Forecast Growth

TRV has been the subject of a number of recent analyst reports. Wolfe Research initiated coverage on Travelers Companies in a research report on Monday, September 15th. They set a “peer perform” rating for the company. Weiss Ratings reissued a “buy (b)” rating on shares of Travelers Companies in a research report on Tuesday, October 14th. JPMorgan Chase & Co. raised their price objective on Travelers Companies from $289.00 to $297.00 and gave the stock an “underweight” rating in a research report on Thursday, October 9th. UBS Group raised their price objective on Travelers Companies from $284.00 to $287.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 8th. Finally, Wall Street Zen downgraded Travelers Companies from a “buy” rating to a “hold” rating in a research report on Sunday, October 19th. Two analysts have rated the stock with a Strong Buy rating, six have given a Buy rating, eleven have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Travelers Companies has an average rating of “Hold” and a consensus price target of $291.31.

Insiders Place Their Bets

In other Travelers Companies news, EVP Mojgan M. Lefebvre sold 16,820 shares of Travelers Companies stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $277.54, for a total value of $4,668,222.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 1.46% of the stock is currently owned by corporate insiders.

Travelers Companies Company 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.