Bank of New York Mellon Corp Sells 31,913 Shares of The Travelers Companies, Inc. $TRV

Bank of New York Mellon Corp decreased its holdings in The Travelers Companies, Inc. (NYSE:TRV) by 2.0% in the 3rd quarter, Holdings Channel.com reports. The firm owned 1,598,843 shares of the insurance provider’s stock after selling 31,913 shares during the period. Bank of New York Mellon Corp’s holdings in Travelers Companies were worth $446,429,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently modified their holdings of the business. Brighton Jones LLC raised its holdings in Travelers Companies by 13.4% during the 4th quarter. Brighton Jones LLC now owns 3,277 shares of the insurance provider’s stock valued at $789,000 after acquiring an additional 387 shares during the period. Revolve Wealth Partners LLC purchased a new position in shares of Travelers Companies in the fourth quarter valued at $276,000. Sound Income Strategies LLC raised its stake in shares of Travelers Companies by 102.8% during the 2nd quarter. Sound Income Strategies LLC now owns 217 shares of the insurance provider’s stock valued at $58,000 after purchasing an additional 110 shares during the period. GC Wealth Management RIA LLC purchased a new stake in Travelers Companies during the 2nd quarter worth about $486,000. Finally, Capital Investment Advisors LLC boosted its stake in Travelers Companies by 2.2% in the 2nd quarter. Capital Investment Advisors LLC now owns 2,447 shares of the insurance provider’s stock worth $655,000 after purchasing an additional 53 shares during the period. 82.45% of the stock is currently owned by hedge funds and other institutional investors.

Travelers Companies Price Performance

TRV stock opened at $281.90 on Thursday. The firm has a 50 day simple moving average of $284.95 and a two-hundred day simple moving average of $276.34. The stock has a market cap of $62.88 billion, a PE ratio of 10.24, a P/E/G ratio of 1.55 and a beta of 0.52. The Travelers Companies, Inc. has a one year low of $230.43 and a one year high of $296.85. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.33 and a quick ratio of 0.35.

Travelers Companies (NYSE:TRV) last posted its quarterly earnings data on Wednesday, January 21st. The insurance provider reported $11.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $8.34 by $2.79. Travelers Companies had a net margin of 12.88% and a return on equity of 20.70%. The company had revenue of $12.43 billion during the quarter, compared to the consensus estimate of $11.13 billion. During the same period in the previous year, the firm posted $9.15 EPS. The firm’s revenue was up 3.5% compared to the same quarter last year. On average, analysts predict that The Travelers Companies, Inc. will post 17.02 EPS for the current fiscal year.

Travelers Companies Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Tuesday, March 10th will be issued a $1.10 dividend. This represents a $4.40 dividend on an annualized basis and a dividend yield of 1.6%. The ex-dividend date is Tuesday, March 10th. Travelers Companies’s dividend payout ratio is presently 15.98%.

Travelers Companies declared that its Board of Directors has approved a share repurchase program on Wednesday, January 21st that allows the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization allows the insurance provider to reacquire up to 8.3% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s leadership believes its shares are undervalued.

Analyst Ratings Changes

Several brokerages have recently weighed in on TRV. Mizuho decreased their price target on Travelers Companies from $315.00 to $304.00 and set a “neutral” rating on the stock in a research report on Thursday, January 22nd. Cantor Fitzgerald boosted their price objective on shares of Travelers Companies from $308.00 to $316.00 and gave the company an “overweight” rating in a research note on Wednesday, January 14th. Argus upgraded shares of Travelers Companies to a “strong-buy” rating in a research note on Monday. Barclays cut their price target on shares of Travelers Companies from $315.00 to $312.00 and set an “equal weight” rating for the company in a report on Thursday, January 8th. Finally, Jefferies Financial Group raised shares of Travelers Companies to a “hold” rating in a report on Tuesday, January 6th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, eleven have issued a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Travelers Companies presently has an average rating of “Hold” and a consensus price target of $302.80.

Insider Transactions at Travelers Companies

In related news, EVP Jeffrey P. Klenk sold 16,712 shares of the firm’s stock in a transaction dated Friday, January 23rd. The stock was sold at an average price of $279.77, for a total transaction of $4,675,516.24. Following the transaction, the executive vice president directly owned 6,075 shares of the company’s stock, valued at approximately $1,699,602.75. This trade represents a 73.34% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Vice Chairman William H. Heyman sold 2,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 12th. The stock was sold at an average price of $287.50, for a total value of $575,000.00. Following the completion of the sale, the insider directly owned 255,086 shares of the company’s stock, valued at approximately $73,337,225. This represents a 0.78% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 54,435 shares of company stock valued at $15,366,736 over the last 90 days. Company insiders own 1.46% of the company’s stock.

About Travelers Companies

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.