Eastern Bank Buys Shares of 2,688 The Travelers Companies, Inc. (NYSE:TRV)

Eastern Bank purchased a new position in shares of The Travelers Companies, Inc. (NYSE:TRV) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 2,688 shares of the insurance provider’s stock, valued at approximately $629,000.

Several other institutional investors have also recently made changes to their positions in TRV. Ledyard National Bank increased its position in Travelers Companies by 1.9% during the 3rd quarter. Ledyard National Bank now owns 2,067 shares of the insurance provider’s stock valued at $484,000 after purchasing an additional 39 shares during the period. Cornell Pochily Investment Advisors Inc. boosted its stake in shares of Travelers Companies by 2.9% during the third quarter. Cornell Pochily Investment Advisors Inc. now owns 1,499 shares of the insurance provider’s stock valued at $351,000 after purchasing an additional 42 shares in the last quarter. Willner & Heller LLC increased its holdings in Travelers Companies by 4.1% during the third quarter. Willner & Heller LLC now owns 1,146 shares of the insurance provider’s stock valued at $268,000 after buying an additional 45 shares during the period. Wolff Wiese Magana LLC raised its stake in Travelers Companies by 39.1% in the third quarter. Wolff Wiese Magana LLC now owns 160 shares of the insurance provider’s stock worth $37,000 after buying an additional 45 shares in the last quarter. Finally, Drive Wealth Management LLC lifted its holdings in Travelers Companies by 2.8% during the second quarter. Drive Wealth Management LLC now owns 1,771 shares of the insurance provider’s stock worth $360,000 after buying an additional 48 shares during the period. Hedge funds and other institutional investors own 82.45% of the company’s stock.

Travelers Companies Trading Down 0.7 %

Travelers Companies stock opened at $257.35 on Thursday. The Travelers Companies, Inc. has a 52 week low of $157.33 and a 52 week high of $269.55. The stock has a 50-day moving average price of $234.71 and a 200 day moving average price of $220.20. The company has a quick ratio of 0.33, a current ratio of 0.34 and a debt-to-equity ratio of 0.29. The company has a market capitalization of $58.66 billion, a price-to-earnings ratio of 13.20, a price-to-earnings-growth ratio of 1.40 and a beta of 0.62.

Travelers Companies (NYSE:TRV) last released its quarterly earnings data on Thursday, October 17th. The insurance provider reported $5.24 EPS for the quarter, beating the consensus estimate of $3.79 by $1.45. The business had revenue of $11.90 billion for the quarter, compared to the consensus estimate of $11.46 billion. Travelers Companies had a net margin of 10.02% and a return on equity of 17.69%. The business’s revenue for the quarter was up 11.9% on a year-over-year basis. During the same period in the prior year, the firm earned $1.95 EPS. Sell-side analysts anticipate that The Travelers Companies, Inc. will post 17.45 EPS 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 given a dividend of $1.05 per share. This represents a $4.20 annualized dividend and a yield of 1.63%. The ex-dividend date is Tuesday, December 10th. Travelers Companies’s dividend payout ratio is currently 21.54%.

Insider Buying and Selling at Travelers Companies

In other news, EVP Diane Kurtzman sold 3,941 shares of the company’s stock in a transaction dated Monday, October 21st. The stock was sold at an average price of $260.45, for a total value of $1,026,433.45. Following the sale, the executive vice president now owns 1,715 shares in the company, valued at $446,671.75. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO Alan D. Schnitzer sold 40,524 shares of Travelers Companies stock in a transaction that occurred on Monday, October 21st. The shares were sold at an average price of $260.12, for a total transaction of $10,541,102.88. Following the completion of the transaction, the chief executive officer now directly owns 221,924 shares of the company’s stock, valued at $57,726,870.88. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Diane Kurtzman sold 3,941 shares of the stock in a transaction on Monday, October 21st. The stock was sold at an average price of $260.45, for a total transaction of $1,026,433.45. Following the sale, the executive vice president now directly owns 1,715 shares in the company, valued at $446,671.75. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 1.33% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the company. William Blair reiterated a “market perform” rating on shares of Travelers Companies in a report on Friday, June 28th. StockNews.com downgraded shares of Travelers Companies from a “buy” rating to a “hold” rating in a report on Wednesday. The Goldman Sachs Group raised their price target on shares of Travelers Companies from $216.00 to $245.00 and gave the company a “sell” rating in a report on Tuesday. TD Cowen lowered shares of Travelers Companies from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $252.00 to $230.00 in a research note on Monday, July 15th. Finally, UBS Group raised their target price on shares of Travelers Companies from $244.00 to $270.00 and gave the company a “neutral” rating in a research note on Tuesday. Four equities research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $247.90.

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.