Eastern Bank Sells 200 Shares of The Travelers Companies, Inc. $TRV

Eastern Bank reduced its position in shares of The Travelers Companies, Inc. (NYSE:TRV) by 7.0% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 2,660 shares of the insurance provider’s stock after selling 200 shares during the quarter. Eastern Bank’s holdings in Travelers Companies were worth $712,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in TRV. Valeo Financial Advisors LLC lifted its stake in shares of Travelers Companies by 71,265.9% in the second quarter. Valeo Financial Advisors LLC now owns 3,616,826 shares of the insurance provider’s stock worth $967,646,000 after acquiring an additional 3,611,758 shares during the period. Nuveen LLC acquired a new position in shares of Travelers Companies in the first quarter worth approximately $294,755,000. Bahl & Gaynor Inc. lifted its stake in shares of Travelers Companies by 41.2% in the first quarter. Bahl & Gaynor Inc. now owns 1,679,275 shares of the insurance provider’s stock worth $444,101,000 after acquiring an additional 490,039 shares during the period. Goldman Sachs Group Inc. lifted its stake in shares of Travelers Companies by 25.3% in the first quarter. Goldman Sachs Group Inc. now owns 1,934,625 shares of the insurance provider’s stock worth $511,631,000 after acquiring an additional 390,104 shares during the period. Finally, Robeco Institutional Asset Management B.V. lifted its stake in shares of Travelers Companies by 86.5% in the second quarter. Robeco Institutional Asset Management B.V. now owns 738,901 shares of the insurance provider’s stock worth $197,686,000 after acquiring an additional 342,666 shares during the period. 82.45% of the stock is currently owned by institutional investors.

Travelers Companies Price Performance

Shares of TRV opened at $269.92 on Friday. The Travelers Companies, Inc. has a 52-week low of $230.23 and a 52-week high of $287.95. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.33 and a current ratio of 0.33. The business’s 50 day moving average price is $273.66 and its two-hundred day moving average price is $266.16. The firm has a market cap of $60.77 billion, a PE ratio of 11.94, a price-to-earnings-growth ratio of 3.08 and a beta of 0.51.

Travelers Companies (NYSE:TRV) last issued its earnings results on Thursday, July 17th. The insurance provider reported $6.51 earnings per share for the quarter, topping analysts’ consensus estimates of $3.52 by $2.99. Travelers Companies had a return on equity of 18.68% and a net margin of 10.97%.The company had revenue of $11.54 billion for the quarter, compared to analyst estimates of $11.02 billion. During the same period in the prior year, the firm earned $2.51 earnings per share. Travelers Companies’s revenue for the quarter was up 7.4% on a year-over-year basis. On average, equities analysts anticipate that The Travelers Companies, Inc. will post 17.02 EPS for the current year.

Travelers Companies Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Wednesday, September 10th were given a dividend of $1.10 per share. This represents a $4.40 dividend on an annualized basis and a dividend yield of 1.6%. The ex-dividend date of this dividend was Wednesday, September 10th. Travelers Companies’s dividend payout ratio is presently 19.46%.

Insider Buying and Selling

In other news, EVP Mojgan M. Lefebvre sold 16,820 shares of the company’s stock in a transaction that occurred on Friday, August 22nd. The stock was sold at an average price of $277.54, for a total transaction of $4,668,222.80. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Gregory C. Toczydlowski sold 11,505 shares of the company’s stock in a transaction that occurred on Monday, July 21st. The stock was sold at an average price of $266.12, for a total value of $3,061,710.60. Following the transaction, the executive vice president directly owned 18,416 shares in the company, valued at $4,900,865.92. The trade was a 38.45% decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.46% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. Barclays set a $313.00 price objective on Travelers Companies in a research note on Wednesday. Cantor Fitzgerald raised Travelers Companies to a “strong-buy” rating in a research note on Wednesday, August 13th. Evercore ISI reaffirmed an “outperform” rating on shares of Travelers Companies in a research note on Wednesday, October 1st. Morgan Stanley boosted their price target on Travelers Companies from $269.00 to $285.00 and gave the company an “equal weight” rating in a research note on Tuesday, October 7th. Finally, Wolfe Research assumed coverage on Travelers Companies in a research note on Monday, September 15th. They issued a “peer perform” rating on the stock. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, eleven have assigned a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, Travelers Companies has a consensus rating of “Hold” and a consensus target price of $290.11.

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.