Canandaigua National Bank & Trust Co. Lowers Holdings in The Travelers Companies, Inc. (NYSE:TRV)

Canandaigua National Bank & Trust Co. reduced its stake in The Travelers Companies, Inc. (NYSE:TRV) by 10.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 9,982 shares of the insurance provider’s stock after selling 1,135 shares during the period. Canandaigua National Bank & Trust Co.’s holdings in Travelers Companies were worth $2,405,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of TRV. Franklin Resources Inc. lifted its stake in shares of Travelers Companies by 39.5% in the third quarter. Franklin Resources Inc. now owns 135,957 shares of the insurance provider’s stock worth $32,646,000 after buying an additional 38,515 shares in the last quarter. Sanctuary Advisors LLC purchased a new stake in Travelers Companies during the 2nd quarter valued at $9,798,000. Orion Portfolio Solutions LLC increased its holdings in shares of Travelers Companies by 34.6% in the 3rd quarter. Orion Portfolio Solutions LLC now owns 18,144 shares of the insurance provider’s stock worth $4,248,000 after purchasing an additional 4,665 shares in the last quarter. LPL Financial LLC increased its holdings in shares of Travelers Companies by 7.4% in the 2nd quarter. LPL Financial LLC now owns 177,528 shares of the insurance provider’s stock worth $36,099,000 after purchasing an additional 12,190 shares in the last quarter. Finally, Catalyst Capital Advisors LLC bought a new position in shares of Travelers Companies during the third quarter valued at $50,000. 82.45% of the stock is currently owned by institutional investors.

Travelers Companies Price Performance

Shares of NYSE:TRV traded down $0.52 on Monday, reaching $241.77. The company’s stock had a trading volume of 1,442,679 shares, compared to its average volume of 864,068. The company has a 50-day simple moving average of $251.56 and a 200 day simple moving average of $233.89. The Travelers Companies, Inc. has a 52-week low of $189.87 and a 52-week high of $269.55. 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 company has a market cap of $54.89 billion, a P/E ratio of 12.40, a PEG ratio of 1.17 and a beta of 0.65.

Travelers Companies (NYSE:TRV) last released 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. The company had revenue of $11.90 billion during the quarter, compared to analyst estimates of $11.46 billion. Travelers Companies had a return on equity of 17.69% and a net margin of 10.02%. The firm’s revenue was up 11.9% on a year-over-year basis. During the same quarter last year, the business posted $1.95 earnings per share. As a group, equities research analysts anticipate that The Travelers Companies, Inc. will post 18.84 EPS for the current fiscal year.

Travelers Companies Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Tuesday, December 10th were given a dividend of $1.05 per share. This represents a $4.20 dividend on an annualized basis and a yield of 1.74%. The ex-dividend date of this dividend was Tuesday, December 10th. Travelers Companies’s dividend payout ratio (DPR) is 21.54%.

Insider Activity

In related news, CEO Alan D. Schnitzer sold 40,524 shares of the firm’s stock in a transaction that occurred on Monday, October 21st. The stock was sold at an average price of $260.12, for a total transaction of $10,541,102.88. Following the completion of the sale, the chief executive officer now directly owns 221,924 shares of the company’s stock, valued at approximately $57,726,870.88. This trade represents a 15.44 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Vice Chairman William H. Heyman sold 2,014 shares of the stock in a transaction on Thursday, October 24th. The stock was sold at an average price of $260.00, for a total value of $523,640.00. Following the completion of the sale, the insider now owns 250,384 shares in the company, valued at approximately $65,099,840. The trade was a 0.80 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 78,149 shares of company stock valued at $20,295,856. 1.33% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

TRV has been the topic of a number of recent analyst reports. Piper Sandler dropped their price target on shares of Travelers Companies from $280.00 to $259.00 and set a “neutral” rating on the stock in a report on Monday. Keefe, Bruyette & Woods increased their price target on Travelers Companies from $245.00 to $273.00 and gave the company a “market perform” rating in a report on Tuesday, October 22nd. Royal Bank of Canada lifted their price objective on Travelers Companies from $250.00 to $273.00 and gave the stock a “sector perform” rating in a report on Friday, October 18th. Janney Montgomery Scott cut Travelers Companies from a “buy” rating to a “neutral” rating and set a $280.00 target price on the stock. in a research report on Thursday, November 21st. Finally, Jefferies Financial Group increased their price objective on shares of Travelers Companies from $210.00 to $235.00 and gave the stock a “hold” rating in a research note on Wednesday, October 9th. Five research analysts have rated the stock with a sell rating, twelve have given a hold rating, six have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $253.45.

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.