Corebridge Financial Inc. Sells 6,476 Shares of The Travelers Companies, Inc. (NYSE:TRV)

Corebridge Financial Inc. lessened its position in The Travelers Companies, Inc. (NYSE:TRV) by 10.1% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 57,625 shares of the insurance provider’s stock after selling 6,476 shares during the period. Corebridge Financial Inc.’s holdings in Travelers Companies were worth $13,881,000 as of its most recent filing with the SEC.

Several other hedge funds also recently bought and sold shares of the company. YANKCOM Partnership bought a new stake in shares of Travelers Companies in the 4th quarter valued at $27,000. Generali Investments Management Co LLC acquired a new position in Travelers Companies in the fourth quarter valued at about $37,000. True Wealth Design LLC acquired a new position in Travelers Companies in the third quarter valued at about $41,000. Asset Planning Inc bought a new stake in shares of Travelers Companies in the fourth quarter worth about $44,000. Finally, Providence First Trust Co acquired a new stake in shares of Travelers Companies during the fourth quarter worth about $48,000. 82.45% of the stock is currently owned by institutional investors and hedge funds.

Travelers Companies Stock Performance

NYSE TRV opened at $259.50 on Wednesday. The firm has a market capitalization of $58.84 billion, a P/E ratio of 12.09, a price-to-earnings-growth 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 firm’s fifty day moving average price is $249.27 and its two-hundred day moving average price is $247.54. The Travelers Companies, Inc. has a 1 year low of $200.21 and a 1 year high of $269.56.

Travelers Companies (NYSE:TRV) last issued its earnings results 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 company had revenue of $12.01 billion for the quarter, compared to analysts’ expectations of $10.80 billion. During the same period in the prior year, the firm earned $7.01 EPS. Travelers Companies’s quarterly revenue was up 9.9% compared to the same quarter last year. As a group, research analysts anticipate that The Travelers Companies, Inc. will post 17.02 EPS for the current year.

Travelers Companies Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 10th will be given a $1.05 dividend. The ex-dividend date is Monday, March 10th. This represents a $4.20 dividend on an annualized basis and a dividend yield of 1.62%. Travelers Companies’s payout ratio is 19.56%.

Analyst Ratings Changes

Several equities analysts recently issued reports on TRV shares. Hsbc Global Res upgraded Travelers Companies from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, December 10th. BMO Capital Markets increased their price objective on shares of Travelers Companies from $275.00 to $297.00 and gave the stock an “outperform” rating in a research report on Friday, January 24th. The Goldman Sachs Group raised shares of Travelers Companies from a “sell” rating to a “buy” rating and set a $278.00 price objective on the stock in a research report on Wednesday, January 8th. Keefe, Bruyette & Woods upgraded Travelers Companies from a “market perform” rating to an “outperform” rating and increased their target price for the stock from $275.00 to $286.00 in a report on Wednesday, February 19th. Finally, HSBC lowered Travelers Companies from a “buy” rating to a “hold” rating and set a $270.00 price target on the stock. in a report on Monday. Four equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating, seven have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Travelers Companies currently has a consensus rating of “Hold” and an average price target of $260.00.

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.