Bank of New York Mellon Corp Sells 96,316 Shares of The Travelers Companies, Inc. $TRV

Bank of New York Mellon Corp cut its stake in The Travelers Companies, Inc. (NYSE:TRV) by 5.6% during the 2nd quarter, Holdings Channel.com reports. The firm owned 1,630,756 shares of the insurance provider’s stock after selling 96,316 shares during the period. Bank of New York Mellon Corp’s holdings in Travelers Companies were worth $436,292,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently modified their holdings of the stock. Bearing Point Capital LLC raised its position in shares of Travelers Companies by 2.0% in the first quarter. Bearing Point Capital LLC now owns 1,973 shares of the insurance provider’s stock valued at $522,000 after purchasing an additional 38 shares during the period. Forum Financial Management LP raised its position in shares of Travelers Companies by 0.9% in the first quarter. Forum Financial Management LP now owns 4,428 shares of the insurance provider’s stock valued at $1,171,000 after purchasing an additional 39 shares during the period. Y.D. More Investments Ltd increased its position in Travelers Companies by 13.9% during the first quarter. Y.D. More Investments Ltd now owns 319 shares of the insurance provider’s stock worth $84,000 after acquiring an additional 39 shares during the period. Park National Corp OH increased its position in Travelers Companies by 1.6% during the second quarter. Park National Corp OH now owns 2,580 shares of the insurance provider’s stock worth $690,000 after acquiring an additional 40 shares during the period. Finally, ORG Partners LLC increased its position in Travelers Companies by 5.6% during the second quarter. ORG Partners LLC now owns 776 shares of the insurance provider’s stock worth $207,000 after acquiring an additional 41 shares during the period. 82.45% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on TRV. UBS Group raised their price target on shares of Travelers Companies from $284.00 to $287.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 8th. Evercore ISI reaffirmed an “outperform” rating on shares of Travelers Companies in a research report on Wednesday, October 1st. JPMorgan Chase & Co. raised their price target on shares of Travelers Companies from $289.00 to $297.00 and gave the stock an “underweight” rating in a research report on Thursday, October 9th. Cantor Fitzgerald raised shares of Travelers Companies to a “strong-buy” rating in a research report on Wednesday, August 13th. Finally, Barclays set a $313.00 price target on shares of Travelers Companies in a research report on Wednesday, October 8th. Two analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating, eleven have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $291.31.

Travelers Companies Trading Down 0.5%

Shares of Travelers Companies stock opened at $267.16 on Tuesday. The company has a market capitalization of $59.59 billion, a price-to-earnings ratio of 10.51, a PEG ratio of 2.38 and a beta of 0.51. The company has a quick ratio of 0.35, a current ratio of 0.35 and a debt-to-equity ratio of 0.29. The Travelers Companies, Inc. has a 12-month low of $230.23 and a 12-month high of $287.95. The firm’s 50-day moving average price is $273.75 and its two-hundred day moving average price is $268.27.

Travelers Companies (NYSE:TRV) last announced its quarterly earnings data on Thursday, October 16th. The insurance provider reported $8.14 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $6.01 by $2.13. The firm had revenue of $11.47 billion for the quarter, compared to the consensus estimate of $11.15 billion. Travelers Companies had a net margin of 12.14% and a return on equity of 20.28%. The business’s revenue for the quarter was up 4.8% on a year-over-year basis. During the same period in the prior year, the company posted $5.24 earnings per share. On average, analysts forecast that The Travelers Companies, Inc. will post 17.02 earnings per share for the current fiscal year.

Travelers Companies Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 31st. Investors of record on Wednesday, December 10th will be issued a dividend of $1.10 per share. The ex-dividend date of this dividend is Wednesday, December 10th. This represents a $4.40 annualized dividend and a dividend yield of 1.6%. Travelers Companies’s payout ratio is 17.30%.

Insider Activity at Travelers Companies

In related news, EVP Mojgan M. Lefebvre sold 16,820 shares of Travelers Companies stock in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $277.54, for a total transaction of $4,668,222.80. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Michael Frederick Klein sold 8,572 shares of Travelers Companies stock in a transaction that occurred on Tuesday, October 28th. The shares were sold at an average price of $270.73, for a total transaction of $2,320,697.56. Following the sale, the executive vice president directly owned 33,638 shares in the company, valued at $9,106,815.74. This trade represents a 20.31% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders own 1.46% of the company’s stock.

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.