Bank of New York Mellon Corp lessened its holdings in Travelers Companies Inc (NYSE:TRV) by 8.4% during the fourth quarter, HoldingsChannel reports. The firm owned 2,857,065 shares of the insurance provider’s stock after selling 261,142 shares during the quarter. Bank of New York Mellon Corp’s holdings in Travelers Companies were worth $387,533,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors and hedge funds have also made changes to their positions in TRV. Field & Main Bank purchased a new stake in Travelers Companies in the 4th quarter valued at approximately $102,000. Fieldpoint Private Securities LLC purchased a new stake in Travelers Companies in the 3rd quarter valued at approximately $106,000. Valeo Financial Advisors LLC purchased a new stake in Travelers Companies in the 3rd quarter valued at approximately $108,000. Security National Trust Co. boosted its holdings in Travelers Companies by 260.9% in the 3rd quarter. Security National Trust Co. now owns 1,043 shares of the insurance provider’s stock valued at $128,000 after purchasing an additional 754 shares in the last quarter. Finally, Grove Bank & Trust boosted its holdings in Travelers Companies by 390.2% in the 3rd quarter. Grove Bank & Trust now owns 1,098 shares of the insurance provider’s stock valued at $135,000 after purchasing an additional 874 shares in the last quarter. 78.59% of the stock is currently owned by institutional investors.
Shares of Travelers Companies Inc (NYSE TRV) opened at $141.16 on Monday. The company has a market capitalization of $38,630.00, a P/E ratio of 19.31, a PEG ratio of 1.88 and a beta of 1.26. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.41 and a current ratio of 0.39. Travelers Companies Inc has a 52 week low of $113.76 and a 52 week high of $150.55.
Travelers Companies (NYSE:TRV) last issued its quarterly earnings data on Tuesday, January 23rd. The insurance provider reported $2.28 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $2.56 by ($0.28). Travelers Companies had a return on equity of 8.61% and a net margin of 7.13%. The company had revenue of $7.45 billion for the quarter, compared to analyst estimates of $6.47 billion. During the same quarter in the prior year, the firm earned $3.20 earnings per share. The company’s revenue for the quarter was up 3.6% on a year-over-year basis. research analysts expect that Travelers Companies Inc will post 10.59 earnings per share for the current fiscal year.
Travelers Companies declared that its Board of Directors has initiated a stock buyback program on Thursday, November 9th that authorizes the company to buyback shares. This buyback authorization authorizes the insurance provider to purchase shares of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board of directors believes its stock is undervalued.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 30th. Investors of record on Friday, March 9th will be given a dividend of $0.72 per share. The ex-dividend date of this dividend is Thursday, March 8th. This represents a $2.88 annualized dividend and a dividend yield of 2.04%. Travelers Companies’s dividend payout ratio is currently 39.40%.
In related news, EVP Gregory C. Toczydlowski sold 28,975 shares of Travelers Companies stock in a transaction that occurred on Tuesday, January 30th. The stock was sold at an average price of $148.56, for a total transaction of $4,304,526.00. Following the completion of the transaction, the executive vice president now directly owns 35,900 shares in the company, valued at approximately $5,333,304. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Brian W. Maclean sold 88,607 shares of Travelers Companies stock in a transaction that occurred on Friday, January 26th. The stock was sold at an average price of $149.29, for a total value of $13,228,139.03. Following the transaction, the chief operating officer now owns 211,293 shares of the company’s stock, valued at $31,543,931.97. The disclosure for this sale can be found here. Insiders have sold a total of 183,621 shares of company stock valued at $26,505,369 over the last 90 days. Insiders own 0.82% of the company’s stock.
TRV has been the topic of a number of analyst reports. Royal Bank of Canada reaffirmed a “buy” rating and issued a $148.00 price objective on shares of Travelers Companies in a report on Friday, December 8th. Keefe, Bruyette & Woods reaffirmed a “buy” rating and issued a $152.00 price objective on shares of Travelers Companies in a report on Wednesday, December 6th. Bank of America raised Travelers Companies from a “neutral” rating to a “buy” rating in a report on Tuesday, January 9th. Zacks Investment Research raised Travelers Companies from a “hold” rating to a “buy” rating and set a $148.00 price target on the stock in a research note on Friday, January 5th. Finally, ValuEngine lowered Travelers Companies from a “buy” rating to a “hold” rating in a research note on Wednesday, January 3rd. Three equities research analysts have rated the stock with a sell rating, eight have given a hold rating and eight have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $137.20.
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Travelers Companies Company Profile
The Travelers Companies, Inc is a holding company. The Company’s segments include Business and International Insurance; Bond & Specialty Insurance, and Personal Insurance. Through its subsidiaries, it provides commercial and personal property and casualty insurance products and services. The Business and International Insurance segment offers property and casualty insurance and insurance related services to its clients, in the United States and in Canada, as well as in the United Kingdom, the Republic of Ireland, Brazil and throughout other parts of the world.
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