The Travelers Companies, Inc. (NYSE:TRV) Shares Sold by M&T Bank Corp

M&T Bank Corp trimmed its stake in shares of The Travelers Companies, Inc. (NYSE:TRV) by 1.5% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 105,101 shares of the insurance provider’s stock after selling 1,607 shares during the period. M&T Bank Corp’s holdings in Travelers Companies were worth $24,606,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. &PARTNERS purchased a new position in shares of Travelers Companies in the second quarter worth approximately $413,000. Retirement Systems of Alabama raised its stake in Travelers Companies by 0.3% during the 2nd quarter. Retirement Systems of Alabama now owns 50,513 shares of the insurance provider’s stock valued at $10,271,000 after purchasing an additional 147 shares during the period. AMG National Trust Bank lifted its holdings in shares of Travelers Companies by 27.7% in the second quarter. AMG National Trust Bank now owns 4,753 shares of the insurance provider’s stock valued at $966,000 after purchasing an additional 1,032 shares in the last quarter. Catalyst Financial Partners LLC boosted its position in shares of Travelers Companies by 8.7% in the second quarter. Catalyst Financial Partners LLC now owns 1,147 shares of the insurance provider’s stock worth $233,000 after buying an additional 92 shares during the period. Finally, SlateStone Wealth LLC grew its holdings in shares of Travelers Companies by 15.2% during the second quarter. SlateStone Wealth LLC now owns 5,088 shares of the insurance provider’s stock valued at $1,035,000 after buying an additional 671 shares in the last quarter. Institutional investors and hedge funds own 82.45% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on TRV shares. Keefe, Bruyette & Woods raised their price objective on Travelers Companies from $245.00 to $273.00 and gave the stock a “market perform” rating in a research report on Tuesday, October 22nd. Jefferies Financial Group boosted their price objective on shares of Travelers Companies from $210.00 to $235.00 and gave the company a “hold” rating in a research report on Wednesday, October 9th. Janney Montgomery Scott downgraded shares of Travelers Companies from a “buy” rating to a “neutral” rating and set a $280.00 target price for the company. in a research report on Thursday, November 21st. BMO Capital Markets boosted their price target on shares of Travelers Companies from $233.00 to $270.00 and gave the company an “outperform” rating in a report on Tuesday, October 22nd. Finally, Barclays upped their price target on shares of Travelers Companies from $286.00 to $295.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 23rd. Five research analysts have rated the stock with a sell rating, thirteen have issued a hold rating, five have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $251.70.

Insiders Place Their Bets

In other news, Vice Chairman William H. Heyman sold 3,000 shares of Travelers Companies stock in a transaction that occurred on Tuesday, October 22nd. The stock was sold at an average price of $260.55, for a total transaction of $781,650.00. Following the sale, the insider now owns 250,384 shares of the company’s stock, valued at approximately $65,237,551.20. This trade represents a 1.18 % 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, CEO Alan D. Schnitzer sold 40,524 shares of the company’s stock in a transaction on Monday, October 21st. The shares were sold at an average price of $260.12, for a total value of $10,541,102.88. Following the completion of the transaction, the chief executive officer now owns 221,924 shares of the company’s stock, valued at $57,726,870.88. The trade was a 15.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 78,149 shares of company stock worth $20,295,856 in the last ninety days. Insiders own 1.33% of the company’s stock.

Travelers Companies Trading Up 1.3 %

Shares of NYSE:TRV opened at $240.76 on Friday. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.34 and a current ratio of 0.34. The stock’s 50-day moving average is $253.97 and its 200-day moving average is $231.43. The company has a market cap of $54.66 billion, a P/E ratio of 12.35, a P/E/G ratio of 1.17 and a beta of 0.63. The Travelers Companies, Inc. has a 52-week low of $182.76 and a 52-week high of $269.55.

Travelers Companies (NYSE:TRV) last issued its quarterly earnings results on Thursday, October 17th. The insurance provider reported $5.24 EPS for the quarter, topping the consensus estimate of $3.79 by $1.45. Travelers Companies had a return on equity of 17.69% and a net margin of 10.02%. The company had revenue of $11.90 billion for the quarter, compared to the consensus estimate of $11.46 billion. During the same period in the previous year, the business posted $1.95 EPS. The company’s revenue for the quarter was up 11.9% on a year-over-year basis. Equities research analysts predict that The Travelers Companies, Inc. will post 18.84 earnings per share for the current year.

Travelers Companies Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Tuesday, December 10th will be issued a $1.05 dividend. This represents a $4.20 dividend on an annualized basis and a yield of 1.74%. The ex-dividend date of this dividend is Tuesday, December 10th. Travelers Companies’s dividend payout ratio (DPR) is presently 21.54%.

Travelers Companies Company 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.