The Travelers Companies, Inc. $TRV Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp cut its holdings in The Travelers Companies, Inc. (NYSE:TRV) by 1.7% during the fourth quarter, Holdings Channel reports. The institutional investor owned 1,572,439 shares of the insurance provider’s stock after selling 26,404 shares during the period. Bank of New York Mellon Corp’s holdings in Travelers Companies were worth $456,102,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Norges Bank purchased a new position in shares of Travelers Companies during the fourth quarter worth about $723,339,000. AustralianSuper Pty Ltd grew its holdings in shares of Travelers Companies by 102.0% during the fourth quarter. AustralianSuper Pty Ltd now owns 908,559 shares of the insurance provider’s stock worth $263,537,000 after purchasing an additional 458,746 shares during the last quarter. Woodline Partners LP purchased a new position in shares of Travelers Companies during the third quarter worth about $99,680,000. AQR Capital Management LLC grew its holdings in shares of Travelers Companies by 22.8% during the third quarter. AQR Capital Management LLC now owns 1,785,288 shares of the insurance provider’s stock worth $496,872,000 after purchasing an additional 331,170 shares during the last quarter. Finally, Adage Capital Partners GP L.L.C. grew its holdings in shares of Travelers Companies by 258.5% during the second quarter. Adage Capital Partners GP L.L.C. now owns 372,513 shares of the insurance provider’s stock worth $99,662,000 after purchasing an additional 268,600 shares during the last quarter. 82.45% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Travelers Companies news, insider Avrohom J. Kess sold 6,735 shares of Travelers Companies stock in a transaction that occurred on Tuesday, April 28th. The stock was sold at an average price of $308.78, for a total value of $2,079,633.30. Following the sale, the insider owned 48,737 shares of the company’s stock, valued at approximately $15,049,010.86. The trade was a 12.14% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Michael Frederick Klein sold 10,000 shares of Travelers Companies stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of $307.65, for a total value of $3,076,500.00. Following the completion of the sale, the executive vice president directly owned 45,125 shares in the company, valued at $13,882,706.25. This represents a 18.14% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 37,573 shares of company stock worth $11,504,146 in the last three months. Company insiders own 1.39% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have commented on TRV. Barclays lifted their price objective on shares of Travelers Companies from $312.00 to $331.00 and gave the company an “equal weight” rating in a research note on Wednesday, April 8th. Weiss Ratings reissued a “buy (a-)” rating on shares of Travelers Companies in a report on Friday, May 8th. Keefe, Bruyette & Woods boosted their price target on Travelers Companies from $340.00 to $342.00 and gave the company an “outperform” rating in a research report on Monday, April 20th. Wells Fargo & Company boosted their price target on Travelers Companies from $285.00 to $305.00 and gave the company an “equal weight” rating in a research report on Thursday, April 9th. Finally, Brean Capital started coverage on Travelers Companies in a research report on Thursday, March 12th. They issued a “neutral” rating on the stock. Two analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating, eleven have issued a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, Travelers Companies presently has an average rating of “Hold” and a consensus price target of $311.47.

Travelers Companies Stock Performance

Shares of TRV stock opened at $289.98 on Thursday. The stock has a market capitalization of $61.66 billion, a PE ratio of 8.63, a price-to-earnings-growth ratio of 2.63 and a beta of 0.48. The Travelers Companies, Inc. has a 52-week low of $249.19 and a 52-week high of $313.12. The stock’s 50-day moving average price is $298.78 and its 200 day moving average price is $293.89. The company has a quick ratio of 0.35, a current ratio of 0.35 and a debt-to-equity ratio of 0.29.

Travelers Companies (NYSE:TRV) last issued its quarterly earnings results on Thursday, April 16th. The insurance provider reported $7.71 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.80 by $0.91. The firm had revenue of $11.92 billion for the quarter, compared to analysts’ expectations of $11.11 billion. Travelers Companies had a return on equity of 24.06% and a net margin of 15.54%.The firm’s revenue for the quarter was down 1.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.91 EPS. As a group, equities research analysts forecast that The Travelers Companies, Inc. will post 28 EPS for the current year.

Travelers Companies Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Wednesday, June 10th will be given a $1.25 dividend. This is a boost from Travelers Companies’s previous quarterly dividend of $1.10. The ex-dividend date is Wednesday, June 10th. This represents a $5.00 annualized dividend and a yield of 1.7%. Travelers Companies’s payout ratio is presently 13.09%.

Travelers Companies Company Profile

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.