Bank of New York Mellon Corp Reduces Holdings in The Travelers Companies, Inc. $TRV

Bank of New York Mellon Corp reduced its stake in shares of The Travelers Companies, Inc. (NYSE:TRV) by 5.2% in the 1st quarter, HoldingsChannel reports. The firm owned 1,490,093 shares of the insurance provider’s stock after selling 82,346 shares during the quarter. Bank of New York Mellon Corp’s holdings in Travelers Companies were worth $434,631,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Brighton Jones LLC raised its holdings in shares of Travelers Companies by 13.4% in the fourth quarter. Brighton Jones LLC now owns 3,277 shares of the insurance provider’s stock worth $789,000 after acquiring an additional 387 shares during the last quarter. Revolve Wealth Partners LLC acquired a new stake in shares of Travelers Companies during the fourth quarter valued at $276,000. WINTON GROUP Ltd acquired a new stake in shares of Travelers Companies during the second quarter valued at $382,000. CIBC Asset Management Inc increased its position in Travelers Companies by 13.9% during the 2nd quarter. CIBC Asset Management Inc now owns 68,537 shares of the insurance provider’s stock worth $18,336,000 after purchasing an additional 8,383 shares in the last quarter. Finally, Treasurer of the State of North Carolina raised its stake in Travelers Companies by 2.0% in the 2nd quarter. Treasurer of the State of North Carolina now owns 105,605 shares of the insurance provider’s stock valued at $28,254,000 after purchasing an additional 2,117 shares during the last quarter. Hedge funds and other institutional investors own 82.45% of the company’s stock.

Travelers Companies Trading Up 2.3%

Shares of TRV stock opened at $336.89 on Friday. The stock has a market cap of $71.64 billion, a price-to-earnings ratio of 10.02, a price-to-earnings-growth ratio of 2.94 and a beta of 0.46. 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 fifty-two week low of $251.30 and a fifty-two week high of $349.35. The firm’s 50 day moving average price is $312.92 and its two-hundred day moving average price is $301.03.

Travelers Companies (NYSE:TRV) last released its quarterly earnings data on Thursday, April 16th. The insurance provider reported $7.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.80 by $0.91. Travelers Companies had a net margin of 15.54% and a return on equity of 24.06%. The company had revenue of $11.92 billion during the quarter, compared to analyst estimates of $11.11 billion. During the same quarter in the prior year, the business earned $1.91 earnings per share. The business’s quarterly revenue was down 1.7% compared to the same quarter last year. On average, analysts anticipate that The Travelers Companies, Inc. will post 28.31 EPS for the current year.

Insider Buying and Selling at Travelers Companies

In other Travelers Companies news, insider Avrohom J. Kess sold 6,735 shares of the firm’s stock in a transaction dated Tuesday, April 28th. The stock was sold at an average price of $308.78, for a total value of $2,079,633.30. Following the transaction, the insider directly owned 48,737 shares of the company’s stock, valued at $15,049,010.86. This trade represents a 12.14% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Diane Kurtzman sold 2,867 shares of the business’s stock in a transaction dated Monday, April 20th. The stock was sold at an average price of $303.45, for a total value of $869,991.15. Following the transaction, the executive vice president owned 5,298 shares in the company, valued at approximately $1,607,678.10. This represents a 35.11% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 37,573 shares of company stock worth $11,504,146. Corporate insiders own 1.39% of the company’s stock.

Wall Street Analyst Weigh In

TRV has been the topic of a number of recent research reports. Roth Capital restated a “buy” rating on shares of Travelers Companies in a report on Monday, April 20th. Cantor Fitzgerald boosted their price objective on shares of Travelers Companies from $335.00 to $360.00 and gave the company an “overweight” rating in a research report on Thursday, July 9th. Raymond James Financial reaffirmed a “strong-buy” rating on shares of Travelers Companies in a research note on Monday, July 6th. UBS Group boosted their price target on Travelers Companies from $314.00 to $350.00 and gave the company a “neutral” rating in a report on Wednesday, July 8th. Finally, Weiss Ratings reissued a “buy (a-)” rating on shares of Travelers Companies in a research note on Friday, May 8th. Three research analysts have rated the stock with a Strong Buy rating, five have given a Buy rating, twelve have given a Hold rating and five have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $329.11.

Travelers Companies Profile

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.