Bank of New York Mellon Corp Sells 31,913 Shares of The Travelers Companies, Inc. $TRV

Bank of New York Mellon Corp lowered its stake in shares of The Travelers Companies, Inc. (NYSE:TRV) by 2.0% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,598,843 shares of the insurance provider’s stock after selling 31,913 shares during the period. Bank of New York Mellon Corp owned approximately 0.72% of Travelers Companies worth $446,429,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently made changes to their positions in TRV. Associated Banc Corp boosted its holdings in Travelers Companies by 1.4% in the second quarter. Associated Banc Corp now owns 2,734 shares of the insurance provider’s stock worth $731,000 after acquiring an additional 39 shares in the last quarter. Fifth Third Wealth Advisors LLC raised its position in shares of Travelers Companies by 1.0% during the third quarter. Fifth Third Wealth Advisors LLC now owns 4,093 shares of the insurance provider’s stock worth $1,143,000 after purchasing an additional 40 shares during the period. Park Place Capital Corp lifted its holdings in shares of Travelers Companies by 33.1% in the 2nd quarter. Park Place Capital Corp now owns 165 shares of the insurance provider’s stock worth $44,000 after purchasing an additional 41 shares in the last quarter. Nilsine Partners LLC increased its position in shares of Travelers Companies by 0.4% during the third quarter. Nilsine Partners LLC now owns 9,737 shares of the insurance provider’s stock worth $2,719,000 after acquiring an additional 41 shares in the last quarter. Finally, Valeo Financial Advisors LLC raised its holdings in shares of Travelers Companies by 0.8% in the 2nd quarter. Valeo Financial Advisors LLC now owns 5,109 shares of the insurance provider’s stock worth $1,367,000 after acquiring an additional 41 shares during the last quarter. 82.45% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Travelers Companies

In other news, CFO Daniel S. Frey sold 25,000 shares of the firm’s stock in a transaction that occurred on Thursday, November 6th. The shares were sold at an average price of $278.25, for a total transaction of $6,956,250.00. Following the completion of the sale, the chief financial officer owned 26,932 shares in the company, valued at $7,493,829. This trade represents a 48.14% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Maria Olivo sold 8,920 shares of the company’s stock in a transaction that occurred on Wednesday, November 26th. The shares were sold at an average price of $295.73, for a total value of $2,637,911.60. Following the completion of the transaction, the executive vice president owned 117,596 shares in the company, valued at approximately $34,776,665.08. The trade was a 7.05% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 54,435 shares of company stock valued at $15,366,736 over the last quarter. 1.46% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of research firms have issued reports on TRV. Citigroup reiterated a “neutral” rating on shares of Travelers Companies in a research note on Tuesday. Mizuho cut their target price on Travelers Companies from $315.00 to $304.00 and set a “neutral” rating on the stock in a research report on Thursday, January 22nd. Morgan Stanley increased their price target on Travelers Companies from $285.00 to $295.00 and gave the company an “equal weight” rating in a research report on Monday, November 17th. Wells Fargo & Company dropped their price objective on Travelers Companies from $307.00 to $285.00 and set an “equal weight” rating on the stock in a research note on Thursday, January 22nd. Finally, Keefe, Bruyette & Woods upped their target price on shares of Travelers Companies from $317.00 to $320.00 and gave the stock an “outperform” rating in a research note on Friday, January 23rd. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, eleven have issued a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $302.80.

Travelers Companies Stock Up 0.2%

Shares of NYSE:TRV opened at $281.90 on Thursday. The company has a market capitalization of $62.88 billion, a PE ratio of 10.24, a price-to-earnings-growth ratio of 1.55 and a beta of 0.52. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.33 and a quick ratio of 0.35. The business has a fifty day moving average price of $284.95 and a two-hundred day moving average price of $276.34. The Travelers Companies, Inc. has a 1 year low of $230.43 and a 1 year high of $296.85.

Travelers Companies (NYSE:TRV) last released its earnings results on Wednesday, January 21st. The insurance provider reported $11.13 EPS for the quarter, topping analysts’ consensus estimates of $8.34 by $2.79. The company had revenue of $12.43 billion for the quarter, compared to analysts’ expectations of $11.13 billion. Travelers Companies had a return on equity of 20.70% and a net margin of 12.88%.The business’s revenue for the quarter was up 3.5% compared to the same quarter last year. During the same period in the previous year, the business posted $9.15 EPS. Analysts forecast that The Travelers Companies, Inc. will post 17.02 earnings per share for the current year.

Travelers Companies announced that its Board of Directors has authorized a stock repurchase program on Wednesday, January 21st that permits the company to repurchase $5.00 billion in shares. This repurchase authorization permits the insurance provider to reacquire up to 8.3% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s board believes its stock is undervalued.

Travelers Companies Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Tuesday, March 10th will be paid a $1.10 dividend. This represents a $4.40 dividend on an annualized basis and a yield of 1.6%. The ex-dividend date is Tuesday, March 10th. Travelers Companies’s payout ratio is presently 15.98%.

About Travelers Companies

The Travelers Companies, Inc (NYSE: TRV) is a leading provider of property and casualty insurance products and services. The company underwrites a broad range of commercial and personal insurance lines, offering coverage designed to protect individuals, small and midsize businesses, and large corporate clients against property loss, liability, and other operational risks. Travelers is known for combining underwriting, claims management and risk control services to help clients prevent losses and recover when incidents occur.

On the commercial side, Travelers writes primary and specialty coverages including property, general liability, commercial auto, workers’ compensation, professional and management liability, surety and inland marine.