Trustco Bank Corp N Y Takes Position in The Travelers Companies, Inc. $TRV

Trustco Bank Corp N Y acquired a new position in shares of The Travelers Companies, Inc. (NYSE:TRV) in the second quarter, Holdings Channel reports. The firm acquired 987 shares of the insurance provider’s stock, valued at approximately $264,000.

A number of other institutional investors also recently added to or reduced their stakes in TRV. Greykasell Wealth Strategies Inc. bought a new position in Travelers Companies in the first quarter worth about $26,000. Missouri Trust & Investment Co grew its position in shares of Travelers Companies by 122.2% in the 2nd quarter. Missouri Trust & Investment Co now owns 100 shares of the insurance provider’s stock worth $27,000 after buying an additional 55 shares during the last quarter. Quaker Wealth Management LLC raised its stake in shares of Travelers Companies by 200.0% during the 2nd quarter. Quaker Wealth Management LLC now owns 104 shares of the insurance provider’s stock worth $28,000 after acquiring an additional 208 shares in the last quarter. Flaharty Asset Management LLC purchased a new stake in Travelers Companies during the first quarter valued at approximately $32,000. Finally, Nova Wealth Management Inc. purchased a new stake in Travelers Companies during the second quarter valued at approximately $32,000. Institutional investors own 82.45% of the company’s stock.

Insider Buying and Selling at Travelers Companies

In other news, EVP Michael Frederick Klein sold 8,572 shares of the business’s stock in a transaction dated Tuesday, October 28th. The stock was sold at an average price of $270.73, for a total value of $2,320,697.56. Following the completion of the transaction, the executive vice president owned 33,638 shares of the company’s stock, valued at $9,106,815.74. The trade was a 20.31% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Daniel S. Frey sold 25,000 shares of the firm’s stock in a transaction dated Thursday, November 6th. The stock was sold at an average price of $278.25, for a total value of $6,956,250.00. Following the sale, the chief financial officer directly owned 26,932 shares in the company, valued at approximately $7,493,829. This trade represents a 48.14% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 50,392 shares of company stock valued at $13,945,170. 1.46% of the stock is owned by insiders.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the company. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Travelers Companies in a research report on Tuesday, October 14th. Citigroup started coverage on Travelers Companies in a research note on Wednesday, August 13th. They set a “neutral” rating and a $291.00 price target on the stock. Keefe, Bruyette & Woods increased their price objective on shares of Travelers Companies from $304.00 to $305.00 and gave the company an “outperform” rating in a research report on Monday, October 20th. Wall Street Zen cut shares of Travelers Companies from a “buy” rating to a “hold” rating in a research note on Sunday, October 19th. Finally, The Goldman Sachs Group reissued a “buy” rating on shares of Travelers Companies in a research report on Friday, October 17th. Two analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating, eleven have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $291.31.

Travelers Companies Trading Up 0.4%

Shares of NYSE:TRV opened at $287.23 on Friday. 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 52-week low of $230.23 and a 52-week high of $290.62. The stock has a market cap of $64.07 billion, a price-to-earnings ratio of 11.30, a PEG ratio of 2.38 and a beta of 0.55. The business has a 50-day moving average price of $275.06 and a 200-day moving average price of $269.44.

Travelers Companies (NYSE:TRV) last issued its quarterly earnings results on Thursday, October 16th. The insurance provider reported $8.14 earnings per share for the quarter, topping the consensus estimate of $6.01 by $2.13. Travelers Companies had a net margin of 12.14% and a return on equity of 20.28%. The company had revenue of $12.47 billion for the quarter, compared to the consensus estimate of $11.15 billion. During the same quarter in the prior year, the company earned $5.24 EPS. Travelers Companies’s quarterly revenue was up 4.8% on a year-over-year basis. Equities analysts predict that The Travelers Companies, Inc. will post 17.02 EPS for the current year.

Travelers Companies Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 31st. Investors of record on Wednesday, December 10th will be given a dividend of $1.10 per share. The ex-dividend date is Wednesday, December 10th. This represents a $4.40 dividend on an annualized basis and a yield of 1.5%. Travelers Companies’s payout ratio is currently 17.30%.

About Travelers Companies

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.