Fintel reports that on December 20, 2023, Janney Montgomery Scott initiated coverage of Travelers Companies (NYSE:TRV) with a Buy recommendation.
Analyst Price Forecast Suggests 5.90% Upside
As of December 15, 2023, the average one-year price target for Travelers Companies is 197.16. The forecasts range from a low of 168.67 to a high of $241.50. The average price target represents an increase of 5.90% from its latest reported closing price of 186.18.
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The projected annual revenue for Travelers Companies is 38,196MM, a decrease of 4.68%. The projected annual non-GAAP EPS is 14.85.
Travelers Companies Declares $1.00 Dividend
On October 18, 2023 the company declared a regular quarterly dividend of $1.00 per share ($4.00 annualized). Shareholders of record as of December 8, 2023 will receive the payment on December 29, 2023. Previously, the company paid $1.00 per share.
At the current share price of $186.18 / share, the stock's dividend yield is 2.15%.
Looking back five years and taking a sample every week, the average dividend yield has been 2.38%, the lowest has been 1.88%, and the highest has been 3.85%. The standard deviation of yields is 0.34 (n=236).
The current dividend yield is 0.70 standard deviations below the historical average.
Additionally, the company's dividend payout ratio is 0.42. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.
The company's 3-Year dividend growth rate is 0.18%, demonstrating that it has increased its dividend over time.
What is the Fund Sentiment?
There are 2165 funds or institutions reporting positions in Travelers Companies. This is an increase of 4 owner(s) or 0.19% in the last quarter. Average portfolio weight of all funds dedicated to TRV is 0.30%, a decrease of 3.45%. Total shares owned by institutions decreased in the last three months by 0.22% to 213,850K shares. 
The put/call ratio of TRV is 1.23, indicating a bearish outlook.
What are Other Shareholders Doing?
Massachusetts Financial Services holds 7,645K shares representing 3.35% ownership of the company. In it's prior filing, the firm reported owning 7,851K shares, representing a decrease of 2.69%. The firm increased its portfolio allocation in TRV by 534.42% over the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 7,121K shares representing 3.12% ownership of the company. In it's prior filing, the firm reported owning 7,208K shares, representing a decrease of 1.22%. The firm decreased its portfolio allocation in TRV by 3.57% over the last quarter.
Jpmorgan Chase holds 6,363K shares representing 2.79% ownership of the company. In it's prior filing, the firm reported owning 6,790K shares, representing a decrease of 6.71%. The firm decreased its portfolio allocation in TRV by 10.52% over the last quarter.
Spdr Dow Jones Industrial Average Etf Trust holds 5,774K shares representing 2.53% ownership of the company. In it's prior filing, the firm reported owning 5,527K shares, representing an increase of 4.28%. The firm decreased its portfolio allocation in TRV by 8.60% over the last quarter.
VFINX - Vanguard 500 Index Fund Investor Shares holds 5,501K shares representing 2.41% ownership of the company. In it's prior filing, the firm reported owning 5,499K shares, representing an increase of 0.03%. The firm decreased its portfolio allocation in TRV by 3.68% over the last quarter.
Travelers Companies Background Information
(This description is provided by the company.)
The Travelers Companies, Inc. is a leading provider of property casualty insurance for auto, home and business. A component of the Dow Jones Industrial Average, Travelers has approximately 30,000 employees and generated revenues of approximately $32 billion in 2020.
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