Norges Bank Invests $560.92 Million in The Travelers Companies, Inc. (NYSE:TRV)

Norges Bank purchased a new stake in shares of The Travelers Companies, Inc. (NYSE:TRV) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 2,328,524 shares of the insurance provider’s stock, valued at approximately $560,918,000. Norges Bank owned 1.03% of Travelers Companies at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of TRV. Pinnacle Wealth Management Advisory Group LLC boosted its holdings in shares of Travelers Companies by 1.2% during the 4th quarter. Pinnacle Wealth Management Advisory Group LLC now owns 3,414 shares of the insurance provider’s stock valued at $822,000 after buying an additional 41 shares in the last quarter. Quent Capital LLC lifted its position in Travelers Companies by 3.3% during the 4th quarter. Quent Capital LLC now owns 1,363 shares of the insurance provider’s stock valued at $328,000 after acquiring an additional 43 shares during the period. Salem Investment Counselors Inc. boosted its stake in Travelers Companies by 5.1% during the fourth quarter. Salem Investment Counselors Inc. now owns 905 shares of the insurance provider’s stock worth $218,000 after acquiring an additional 44 shares in the last quarter. Somerset Trust Co grew its holdings in Travelers Companies by 5.2% in the fourth quarter. Somerset Trust Co now owns 918 shares of the insurance provider’s stock worth $221,000 after purchasing an additional 45 shares during the period. Finally, Lake Street Advisors Group LLC increased its stake in shares of Travelers Companies by 2.0% during the fourth quarter. Lake Street Advisors Group LLC now owns 2,306 shares of the insurance provider’s stock valued at $555,000 after purchasing an additional 46 shares in the last quarter. 82.45% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. Barclays upped their price target on Travelers Companies from $278.00 to $287.00 and gave the stock an “overweight” rating in a research note on Friday, January 24th. Hsbc Global Res cut Travelers Companies from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 24th. The Goldman Sachs Group raised Travelers Companies from a “sell” rating to a “buy” rating and set a $278.00 price target for the company in a research report on Wednesday, January 8th. Royal Bank of Canada reissued a “sector perform” rating and set a $268.00 price objective (down from $273.00) on shares of Travelers Companies in a research report on Thursday, January 23rd. Finally, StockNews.com lowered shares of Travelers Companies from a “buy” rating to a “hold” rating in a research note on Thursday, January 23rd. Four investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $260.00.

Travelers Companies Stock Performance

TRV opened at $261.86 on Friday. The Travelers Companies, Inc. has a 12-month low of $200.21 and a 12-month high of $269.56. The company has a market cap of $59.37 billion, a price-to-earnings ratio of 12.20, a PEG ratio of 4.65 and a beta of 0.60. 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 $250.56 and its 200 day moving average is $247.89.

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 analysts’ consensus estimates of $6.50 by $2.65. Travelers Companies had a net margin of 10.77% and a return on equity of 19.06%. The firm had revenue of $12.01 billion during the quarter, compared to the consensus estimate of $10.80 billion. During the same quarter in the previous year, the firm posted $7.01 EPS. The company’s revenue for the quarter was up 9.9% compared to the same quarter last year. On average, equities research analysts predict that The Travelers Companies, Inc. will post 17.02 EPS for the current year.

Travelers Companies Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 10th will be paid a $1.05 dividend. This represents a $4.20 annualized dividend and a dividend yield of 1.60%. The ex-dividend date of this dividend is Monday, March 10th. Travelers Companies’s dividend payout ratio (DPR) is currently 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.