Canandaigua National Bank & Trust Co. Has $2,029,000 Position in The Travelers Cos. (TRV)
Canandaigua National Bank & Trust Co. increased its position in shares of The Travelers Cos. (NYSE:TRV) by 4.6% during the second quarter, Holdings Channel reports. The institutional investor owned 17,048 shares of the company’s stock after buying an additional 750 shares during the period. Canandaigua National Bank & Trust Co.’s holdings in The Travelers Cos. were worth $2,029,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Ledyard National Bank increased its position in shares of The Travelers Cos. by 5.4% in the second quarter. Ledyard National Bank now owns 1,089 shares of the company’s stock worth $130,000 after buying an additional 56 shares in the last quarter. Kanaly Trust Co increased its position in shares of The Travelers Cos. by 1.4% in the second quarter. Kanaly Trust Co now owns 1,426 shares of the company’s stock worth $170,000 after buying an additional 19 shares in the last quarter. Kistler Tiffany Companies LLC increased its position in shares of The Travelers Cos. by 53.8% in the second quarter. Kistler Tiffany Companies LLC now owns 1,543 shares of the company’s stock worth $184,000 after buying an additional 540 shares in the last quarter. Daiwa SB Investments Ltd. increased its position in shares of The Travelers Cos. by 8.2% in the second quarter. Daiwa SB Investments Ltd. now owns 1,720 shares of the company’s stock worth $201,000 after buying an additional 130 shares in the last quarter. Finally, Independence Advisors LLC bought a new position in shares of The Travelers Cos. during the second quarter worth about $204,000. Institutional investors and hedge funds own 80.12% of the company’s stock.
Shares of The Travelers Cos. (NYSE:TRV) traded up 0.99% during trading on Wednesday, hitting $115.93. The stock had a trading volume of 1,496,573 shares. The stock’s 50-day moving average is $117.17 and its 200-day moving average is $115.03. The stock has a market cap of $33.42 billion, a price-to-earnings ratio of 11.16 and a beta of 1.07. The Travelers Cos. has a 12-month low of $97.18 and a 12-month high of $119.32.
The Travelers Cos. (NYSE:TRV) last issued its quarterly earnings data on Thursday, July 21st. The company reported $2.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.19 by $0.05. The company had revenue of $6.79 billion for the quarter, compared to analyst estimates of $6.37 billion. The Travelers Cos. had a return on equity of 13.06% and a net margin of 11.70%. The business’s quarterly revenue was up 2.3% compared to the same quarter last year. During the same quarter last year, the company posted $2.52 earnings per share. On average, equities research analysts expect that The Travelers Cos. will post $9.51 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 30th. Shareholders of record on Friday, September 9th will be issued a dividend of $0.67 per share. This represents a $2.68 annualized dividend and a dividend yield of 2.31%. The ex-dividend date of this dividend is Wednesday, September 7th. The Travelers Cos.’s payout ratio is 25.92%.
A number of research analysts have recently issued reports on the company. Citigroup Inc. reiterated a “neutral” rating on shares of The Travelers Cos. in a report on Tuesday, June 21st. Royal Bank Of Canada boosted their target price on The Travelers Cos. from $120.00 to $125.00 and gave the stock an “outperform” rating in a research note on Friday, July 22nd. BMO Capital Markets restated a “market perform” rating and set a $120.00 target price (up from $117.00) on shares of The Travelers Cos. in a research note on Tuesday, July 12th. Credit Suisse Group AG set a $111.00 target price on The Travelers Cos. and gave the stock a “hold” rating in a research note on Monday, September 12th. Finally, Zacks Investment Research downgraded The Travelers Cos. from a “hold” rating to a “sell” rating in a research note on Wednesday, June 29th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and four have issued a buy rating to the company. The Travelers Cos. has a consensus rating of “Hold” and a consensus price target of $117.45.
In other news, EVP Andy F. Bessette sold 8,554 shares of the stock in a transaction dated Tuesday, July 26th. The shares were sold at an average price of $117.58, for a total transaction of $1,005,779.32. Following the completion of the sale, the executive vice president now owns 14,659 shares in the company, valued at $1,723,605.22. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Jay S. Benet sold 5,797 shares of the stock in a transaction dated Tuesday, July 5th. The stock was sold at an average price of $118.28, for a total transaction of $685,669.16. Following the sale, the chief financial officer now owns 71,352 shares of the company’s stock, valued at approximately $8,439,514.56. The disclosure for this sale can be found here. Company insiders own 1.34% of the company’s stock.
The Travelers Cos. Company Profile
The Travelers Companies, Inc is a holding company. The Company, through its subsidiaries, is engaged in providing a range of commercial and personal property and casualty insurance products and services to businesses, government units, associations and individuals. It operates through three segments: Business and International Insurance; Bond & Specialty Insurance, and Personal Insurance.
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